Zoom AMA #2: Freetrade Co-founder & CMO Viktor Nebehaj :freetrade:

I had same issue using the Zoom app. Just copy and paste the link in Internet Explorer. It should work after you c&p the long password.

@vitgb
How many users are on Freetrade at the moment? By how much have you grown since Covid19 outbreak accelerated?

I would bet that the biggest contributor to FreeTrade Growth (co-incidental with the Covid19 crisis) has been the introduction of Instant trade settlment with zero fees.

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thanks @sampoullain :+1: :pray:

I’m in

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Question: How healthy is Freetrades cashflow looking?

Lovely meet. Too bad I was late for the party. Good while there

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Jotted down key points:

  • European stocks to be released

  • US stock rollout in may

  • Limit orders are being tested internally already, beta users on forum testing soon

  • % Users in ISAs will be announced in ptich decks

  • Over 2 million customer trades have been executed on FT

  • Drivewealth is part of the trade execution

  • Going to Improve data pipeline (live pricing/less latent pricing)

  • IOS app rating campaign in place, android equivalent pending

  • Draper Esprit are value-adding, enabled meetup between FT and transferwise, if only to share advice.

  • Existing investors will get first dibs on crowdfunding round, then existing customers

  • Crowdcube will be where the next crowdfunding round takes place

  • Freetrade has 59 employees

  • Freetrade has ~140k users

  • Freetrade will publish a “what it’s like working at freetrade” video. Crowdfunding video to follow.

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:+1::pray::tada::boom::dancer::monkey_face:

Looking forward to fill that form

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:high_brightness: :clap:

Can you make a video about “what it’s like working from home at freetrade”? I think we are all under a lockdown until June in the UK.

:video_camera: “And here’s @Ian doing a code review with his cat.”

Pls erase it now before a webcrawler finds it and it’s sold on the :onion: :spider_web: for $0.002.

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Can you edit/remove the password pls from that post.

Neat. They work globally including with startups in ME and Africa: https://drivewealth.com/news/

Can you also remove the link from the public :eye: Just to be :safety_pin:.

Done. I think/hope? I’m not a tech/chat board person so don’t really understand what’s happened. Anyway, sorted I hope…

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I mentioned transferwise last year, I know some of the team that did their banking integrations, and Freetrade were all like “Nah, we gonna do everything ourselves. Invest platform baby!”

@deathwaltz’s related note is quite clear, but to emphasise: we’re not doing any partnerships with them. What I said on the meeting, it was fantastic to meet and have a casual chat with my counterpart at that company. Always awesome to meet people that walked the same path before you.

It’s still Invest by Freetrade all the way, that won’t change. :man_shrugging:

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I completely missed the meetup - the one day I decided to work late. haha!

Sounds like some useful information has come from it. All sounds positive.

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Don’t worry, we’ll do more AMAs over the next few weeks.

Hope you can join us next time.

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Thank very much for the summary, sorry I couldn’t be there.

Definitely!

2020 is going to be a massive year for the FT Community.

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Ah cool. I couldn’t join the call. Do you have any more details?

It makes a lot of sense, DriveWealth have been doing fractional shares for a long time. They even filed for a patent. Understandably there is a lot to consider when selling fractional shares.

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Adding to the above, it took FT 18 months to get to 1miliion trades on the platform and over the last two months they’ve done another million, so insane growth. Well done FT team

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Things kicked off for me last week work-wise so I couldn’t attend which was disappointing, I hope the event was useful for all concerned.

I had a couple of questions I wanted to ask - if its ok I’d like to post them to see if anyone at Freetrade is happy to answer?

  1. What have Freetrade done in response to the media investigation that found a “culture of fear” and a 50% turnover in staff? Has the culture and high turnover been partly responsible for the lack of updates and stocks recently?

  2. Why is drivewealth being used to deliver fractional shares? I was under the impression that Freetrades mission was to use their own infrastructure and this was part of the reason for shifting customers to a new platform recently - is this not a step back?

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