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Review of the Freetrade, Online share dealing:

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Increase prices, reduce services

From what I can see on Monzo, Freetrade doubled the fee from 3£ in Sep ‘22 to 5.99£ in May ‘23. How can you guys possibly expect me to recommend the service. It’s appalling… I don’t have a money printing machine at home, quite the opposite: everything is getting more expensive. How is this price increase justified, have your operating costs suddenly doubled? However, the overall inflation rate is lower. To me, Freetrade positioned itself as a low-cost/self-service solution - offering little “wow factor” features except from a (previously) competitive price. And what really bothers me is the way this hike is just imposed, the reality is I can’t easily switch my investments onto a different provider - I just have to suck it up [the price increase]. So yeah, of course I’m going to be frustrated and definitely not recommend Freetrade - who knows what further hikes the future holds. Furthermore, fractional shares are no longer possible with no reduction in price (law on frustration). Reviewed on: 5th April 2024

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