After some consideration, I’ve decided to stop using FreeTrade for the time being and use DEGIRO instead, but I wanted to voice why I’ve decided to move, and offer some constructive criticism regarding some things that I believe FreeTrade could improve upon, rather than posting some stupid rant like some people would do.
The main reasons is DEGIRO, and other brokers, offer far more stocks. Not only do they allow you to purchase stocks from many stock exchanges around the world, but you don’t have to request them to be added! This is one thing I noticed when I started using FreeTrade, is that people had to request stocks to be added. While I don’t know the ins and outs of the process, but I really do believe FreeTrade should simply add every stock that they possibly can from exchanges they currently have access to, such as LSE and NYSE.
Secondly, and I know people will hate me mentioning this, but I am very interested to see what happens in the event of another huge event surrounding $GME. Having seen how buying and selling of $GME and other US stocks was previously suspended on the platform, I didn’t want to risk that happening to me in the event of a larger short squeeze. (I’m sure I’m not the only one in this position) Nn my opinion, FreeTrade has the chance to really prove themselves as a really reliable broker people can trust, if they don’t block the buying and selling of $GME in the event of a larger short squeeze.
I really do believe FreeTrade has a huge amount of potential, and I will still keep a close eye on its development over time, as I think overall it is a great platform.