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Marc S

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Review of the Freetrade, Online share dealing:

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Low-cost share trading without high-risk products

Freetrade provides a free entry-level service, which allows makes share investments available to low income people for whom trading costs were a significant barrier to entry. There are very reasonably priced packages to unlock their Stocks and Shares ISA, pension products, etc. This is disrupting a segment that has grown fat on high-margin trading fees, but at the expense of a large swathe of the population -- excluding them from the opportunity to benefit from long-term stock investments. I also appreciate the ethical stance Freetrade has taken: they do not support any high-risk gambling products such as CFDs and spread betting. Whilst those products are profitable, the vast majority of retail investors lose massive amounts of money on these. Such products do not help investors achieve their financial goals nor reduce wealth inequality. Customer service is adequate, and the community forums are an excellent resource. The UI of their app is adequate, but could certainly use some improvements in terms of responsiveness. This disruption of the segment is very welcome, and I hope they continue to see success. Reviewed on: 25th January 2022

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