…was everyone able to easily read the title? it’s not meant to be a tongue twister but I can edit it if it’s too much of a struggle.
In any case, I want to take some time out to look at Freetrade, a mobile-only stock trading app that allows users to trade for free, no fees & no commission! the rollout begins late this year.
I invested in Freetrade via Crowdcube where they smashed their funding target and raised 360% of the expected amount earlier this year.
The crowd-raise went so well that they are becoming directly authorised stockbrokers which will see additional benefits.
Check out some of the features below:
It should come as no surprise that Freetrade is in the top ten biggest crowd raises this year. Its super-cool to talk about disruption right now but Freetrade are actually ‘about that life’.
The above features speak for themselves but the most important selling point is the free trades.
Right now, the standard cost per trade I pay is £12.50. If I wanted to buy £200 worth of HSBC shares, the fee would be worth 6.25% of the investment. Too high.
There are cheaper options out there but what beats f r e e ?
I am also excited by the possibilities created by fractional shares on the platform. Some companies like Tesla and Amazon are lovely to own but so damn expensive! Freetrade means I will be able to afford to add them to my portfolio.
One point that might be more important than my portfolio gains, is getting more people involved in the stock market who were previously scared off by high fees or perceived complexity.
I know people who will argue for hours about who makes the best smartphones but won’t touch the stock market to buy into Apple or Samsung, for example. Soon they could be buying shares on those same smartphones.
I have high hopes for Freetrade and I’m sure that a lot of expensive stockbrokers are worried right now.
If you missed the previous funding round, unlucky… but you can still register your interest for potential future rounds by checking out Freetrade’s pitch on Crowdcube. Whilst you’re at it, do me a favor and register for early access to the app. There’s no financial incentive but I do get bumped up the queue by referring others (you can too by registering and sharing your own link).
Want a final way to get involved? apply for one of their current vacancies, just get me to the front of the queue once you’re hired 🙂