Would you transfer your portfolio to Freetrade?

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22

x-o would be good to trade into.

23

I should have shared this here too -

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24

Good move - I can stomach HL’s exit fees, but I would like to transfer ISA-to-ISA, rather than sell down and then top up as a ‘new’ ISA contribution. This will certainly help, and remove barriers to your inflows :slight_smile:

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25

I wouldn’t transfer mine to Freetrade until the stock universe is expanded to match what I currently hold in my other account, and I certainly wouldn’t transfer until fractional shares become a thing.

Once those two holdouts are finished, I’d move across, sure.

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26

Whats the procedure for moving cash by the way i.e after liquidating holdings in another ISA?

27

Can’t to transfer away from AJ Bell. Need to see if the exit fees investigation leads to anything first as it would take a very long time to recover the costs.

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28

https://www.financialreporter.co.uk/regulation/what-should-advisers-be-looking-out-for-from-the-fca-in-2020.html
Investment Platform Market Study
“The FCA has also promised a consultation on platform exit fees in Q1. While most platforms don’t have these, any which remain are seen as a barrier to transferring between platforms. One challenge will be how to define what is a platform rather than a product exit fee.”

29

No I will not be. DEGIRO have a €10 per position transfer fee. No thanks

30

Honestly I would love to transfer my S & S ISA from Wealthify. 2 issues hinder me doing it - 1. Freetrade have few of the same funds so I would mostly lose my current positions to cashing out undoing a couple of years growth and limiting my re-investment to very different funds and the few bonds available in FT. 2. The high charge for the ISA in FT - currently I pay around 20p a month for my S & S ISA - that will grow as the funds there grow, but it will take a significant amount of time to cost me £3 a month. FT would cost me £3 a month from day 1 - which if I had a significant amount to invest would matter little, but on a transfer of less than £1000 it makes a significant negative in the short to middle term.

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31

On less than £1000 it would be wise to just use a GIA and pay nothing.

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32

Yep, thats what I’m doing at the moment with the intention to swap over the moment its worthwhile.

3 Likes