Source: Freetrade
Freetrade, the investment platform that is on a mission to get everyone investing, is pleased to announce that it has now reached £1 billion in Assets under Administration (AUA).
The platform has seen growth accelerate throughout 2021, even as restrictions in the UK have eased, making Freetrade now the second largest investment platform in the UK, by number of trades executed*. In October 2021, Freetrade reached 1 million registered UK users, having grown by roughly 400% in 2021 alone. Long-term growth indicators remain strong, with October 2021 being a record for new funded customers, adding 115,000 new customers in the month, c. 50% more than in January 2021.
Adam Dodds, CEO and Founder of Freetrade, said: “It’s humbling that our customers have entrusted over £1 billion in assets with us. We built Freetrade to make investing more accessible, supporting our customers in making decisions that should benefit their finances over the long term. We’ve brought simple investing to hundreds of thousands of customers for the first time. And we’re going to carry on this momentum with renewed dedication to a clear belief: investing should be accessible to everyone.”
*According to data from TRADEcho that monitors trades to the LSE’s RSP network. This figure excludes trades in US equities while the number 1 ranked broker includes their transactions in overseas shares.