Zoom AMA #8: Product update and AMA with VP Product, Duncan Leslie. Thu 11th June, 8 PM

[jgt]

I don’t recall any mention of Poland in particular. One think they did say, which I don’t think has been mentioned, was that they don’t need a fully formed product to roll.out more widely. So think they may do an English language version in some counties before a fully localised version. I think it is clear the initial 4 remain the early target but it is possible they could roll out fairly quickly after this. - note this last is my take not something FT promised

[Wulfy]

I agree and thanks for sharing some of the things on the call.

I’m nervous about the percetpiong of value to users of paying £10 per month, 7 if you’re already paying for isa though.

We all trust freetrade don’t make the same mistake as monzo on that one and I’m sure they won’t, they probably have some very worthwhile cards they’ve been keeping to their chests until they know things can be implemented.

[gt94sss2]

I hope that’s not how they are thinking.

If you’re over 40 you don’t qualify for a LISA;
If you don’t have kids, JISA is of no use

Plus ISAs are available at low cost/free from elsewhere

[SpyrosL]

The one that I am bummed about is no multi currency accounts…

Would definetely pay Plus for this… So would many I think. Would love a USD and EUR account.

@Freetrade_Team @Viktor Please do your magic to change Duncan’s mind!

[CashCow (Open to journalist enquiries)]

That was a good AMA and, ok ok ok, I promise to stop flogging a dead horse and going on about in-app achivements/badges as a marketing tool!

[manoadamro (Adam)]

hero. thanks

[Geo0rgi]

@gt94sss2

The stock universe for Plus will be bigger than for basic but they won’t be limiting it by market - probably by specific shares - but anything available now will remain in Basic;

Having stocks behind a paywall will ruin everything that Freetrade stands for, I really hope this isn’t true

[hrochfor1]

It is true as I understand it. I do not believe whole markets will be behind the paywall but certainly individual stocks.

[Jim1]

He outright said whole markets will not be behind the paywall on the call. One way I can see it working is that new stocks come into the Alpha account first for say 3-6 months, then are allowed onto the basic accounts - thats just me thinking outloud through, not what was said on the call.

[don_quixote]

I prefer that idea to only certain stocks allowed on free

[Dice]

still feels like a valid concern right now is that a service like Robinhood could sweep in and take the UK market. Hoping next few months will ease those worries.

[Pdw]

This. This would be a sensible approach. Limiting stocks available behind a pay wall seems odd practice, and won’t bode well against competitors offerings

[Jim1]

I wont post the company, but its a similar freemium type of company that only deals in US stocks at the moment…I’m sincerely hoping that Freetrade’s approach is better than this. An obvious advantage from the start is the ISA inclusion but that only covers £3 of the cost (and is already available elsewhere for free)

Edit. That might be a fun post actually, “predict what Alpha will include” @Freetrade_Team would you be ok if I start a thread along those lines?

[Viktor]

@Jim1

Edit. That might be a fun post actually, “predict what Alpha will include” @Freetrade_Team would you be ok if I start a thread along those lines?

Of course!

[Jim1]

Cool, thanks Viktor

[CashCow (Open to journalist enquiries)]

This was the first time I’d heard the £10 a month figure and for the amount of money I currently have in Freetrade, it’s just too high. I’m slowly working my way up, but with ~£300 in my account at the moment, £10 a month is just tot great as a %.

I’d assume that the Freetrade team have done the maths and worked out the monthly cost compared to the size of the average and median users’ portfolio and concluded that £10 represents good value for most people.

Maybe I’m just tight. I tend to benchmark things against the cost/value of my Netflix subscription or monthly SIM only bill!

More likely, it’s not aimed at such a low value amateur like me! I’ll have to earn my way upwards to making it worthwhile.

[Dynamo]

I can see how £10 per month wouldn’t make sense for you.

Conversely, I recently threw away loads of Barclays Stockbrokers contract notes from the year 2000, on which the dealing charges totalled more than £2000, which was a large proportion of my portfolio then (and would be now).

So for me, twenty years on, to pay £120 per year for unlimited trades and hopefully an ISA and SIPP as well, would be phenomenal value.