Freetrade, the challenger app-based stock broker that set Crowdcube’s record for the fastest time ever to raise £1m, today launches its flagship brokerage platform in the UK, Invest by Freetrade.
FCA-regulated and FSCS-secured, Invest by Freetrade will open thousands of new stock and ETF opportunities for Freetrade users. The Freetrade app offers users the ability to invest in the markets with zero fees, making investing accessible to everyone.
Adam Dodds, Founder and CEO of Freetrade commented, “Exorbitant fees of traditional providers shouldn’t be the norm, so we have broken the mould for how stockbrokers operate by taking brokering in-house, creating our own software platform, and reducing costs tremendously. This benefit is passed directly to Freetrade users in the form of zero-commission trading on over 600 stocks and ETFs. This makes investing in the markets more accessible than ever before.”
There are over 100 million Millennials in Europe, most of which are underserved in the investment sector. While this generation is becoming better educated when it comes to money - how to save, how to invest - the majority have still never invested before; put off by high monthly fees and a legacy industry that has seen its fair share of scandal.
“For most of Freetrade’s 70,000+ customers, it’s the first investment service they’ve used, and we’re now seeing many investors move over to us from legacy stockbrokers too, with consumers wanting to find a fairer, more transparent place to invest their money.”
Based in Shoreditch, the company used its own pioneering technology to create Invest by Freetrade, which will provide thousands of new stocks and ETFs, and it will enable the rapid rollout of new features. The company is on track to be the first in the world to offer UK and European fractional shares by early 2020.
Adam added, “At Freetrade, we are focused on doing one thing really well: investing in the stock market. As a result, Invest by Freetrade is the most modern brokerage platform in the world and we have all the ingredients to transform how financial services will look in the 2020s. I’m very much looking forward to seeing more people gain access to the stock market’s many opportunities in a fairer way.”
Today, the firm announced it has started migrating all its customer accounts to the in-house brokerage platform, as the first beta-testing customers have been successfully trading on it for a week.
The Freetrade app operates on a “freemium” business model, allowing anyone to sign up and trade with zero commission, as well as additional paid services like the Freetrade Investment ISA and the Alpha Account which provides free and unlimited instant trading.