What’s this? You can now glide across the price graph on each stock to scan their prices way in the past. Very satisfying.
Ratings and Reviews
Good at the moment but I expect it will get better
So the concept of the app is great, saves spending the best part of £12 per trade with certain competitors. The options are limited but are expanding and there is a good selection of ETFs.
In terms of what could be improved: - I would like to see the portfolio revamped a bit as to show more details.
- the information about particular investments should be changed as the green line at the moment is fairly meaningless.
- the ‘discover’ tab should be made into separate sections and more easily navigable.
Easy, but still dangerous
On Freetrade’s platform and pricing:
The app is targeted towards amateur investors, welcoming them into investing in the most seamless way possible. The app itself is very easy to use, albeit almost “gamifies” investing which may be quite dangerous, and I’m not sure if I agree with. This is shown through various examples such as a limited amount of information being provided for each stock, making it incredibly easy to buy/sell stocks, and getting free stocks for getting someone to sign up and top up as if it were a game. I am not saying I think every investing platform should have an overly complicated UI, but perhaps there is a reason not everyone should get into investing. The charges are reasonable for the amateur investor, but only for someone in a very small investing bracket: for a person who wants to try day trading, 1£ per instant order makes no sense, and is absolutely a steal; for a longer term investor who is an average person with no extreme wealth background, 36£ per year (3£/mo) for an ISA is also a bit of a steal. Nonetheless the basic feature of the app provides an ideal introduction for someone starting out in investing. The only concern I have is in terms of the app functionality, where at times features may not work, such as Apple Pay top ups, which seriously limits my capacity to trust the platform. This is our money we’re dealing with after all.
Well designed but not what I expected
When I got in line for this app I expected that I would be able to invest in nearly any UK company, but instead find a limited number of options that I’d describe as “plodding along” with no real point in investing in them. Weatherspoons and Admiral insurance, really? Better off putting money into a S&S ISA.
I imagine this is a result of them doing a single large trade a day that consists of all the buys and sells of their users, so a limited number makes that easier - the price to pay for free trades I guess.
Even if they add a few more options, for me personally this is far too limiting. I will say however the app looks fantastic, and clearly the developers have put a lot of work into it.
Developer Response ,
Thank you for the feedback! We are constantly working on expanding our stock universe and our offering, including US stocks. We have an open discussion on our community board on things we are working on bring out (https://community.freetrade.io/). Hope to hear your ideas there to help us build an amazing product.
- Freetrade Limited
- 63.9 MB
Requires iOS 10.0 or later. Compatible with iPhone, iPad and iPod touch.
- Age Rating
- Rated 4+
- © Copyright (C) 2019 Freetrade Limited. All rights reserved.
Get all of your passes, tickets, cards, and more in one place.
Up to six family members will be able to use this app with Family Sharing enabled.