You can follow Freetrade on Twitter to stay up-to-date with the latest stocks, and even have your say as to what stocks they should add.
Reason 2: Built with the Layman in Mind
If it’s options and candle-sticks you’re looking for, then this app isn’t for you. Freetrade was built for the average investor. Don’t get me wrong, there will be many seasoned investors using the app too, but the app clearly appeals to the masses.
We’ve seen a significant number of new investors enter the market in 2020. This is likely due to the coronavirus. With everyone on lockdown, people are not going out and spending money anymore. With a build-up of excess cash, we need somewhere to put it. The savvy millennial will think about investing their money to make it go to work for them, which is exactly why Robinhood had a huge spike in user sign-ups recently.
I would imagine the same is happening in the UK. The fickle returns you can get from a bank’s interest rate today are an abomination. And that’s just one of the reasons why you should be investing your money elsewhere.
Sign up to Freetrade using this link and we can both get a free share worth up to £200.
Reason 3: Commission Free Investing
One beautiful thing about the Freetrade’s business model is that it is a freemium service. That means, you can invest in stocks COMPLETELY FREE!
So you might be wondering, how does Freetrade make money. Well to answer your concern, the company’s revenue streams currently include interest earned from banks on customers’ cash, a fee of 0.45% of the Base Foreign Exchange rate on each US order placed, and a £3.00 per month Individual Savings Account (if you sign up), which leads me to the next reason you should download the app.
Reason 4: Easily Set Up an Investment Individual Savings Account (ISA)
Have you ever considered setting up an ISA? A stocks & shares ISA gives you the opportunity to avoid paying tax on any income or capital gains you earn from your investments. Nobody likes to pay tax, and we investors are certainly no different.
Freetrade gives you the ability to set up an ISA in a few clicks for just £3/month. Once set up, you can put up to £20,000 in stocks & shares each tax year. The process is extremely simple and cost-effective.
Reason 5: One Free Share Each Time Someone Uses Your Referral Link
After signing up, you can refer a friend using your in-app link and once they have signed up and deposited some money, you’ll both get 1 share each worth up to £200. Now if that’s not a good incentive, I don’t know what is!