Hi Damien, i was looking to open an account on trading 212 but it’s currently full atm and on a waiting list. Is this as good as the trading 212 or should I wait until I’m accepted in 212?
Hi Damo. just used your link to start the ball rolling, got all the way through and say authentication failed and they are reviewing the account. I wonder if your link is out of date now or they are not taking on more customers. gotta wait 1-2 business days now before i find out. great.
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Stephanie I think she is the best broker I ever seen
My first investment with Mrs Stephanie gave me profit of over $24,000 us dollars and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known
Who's this professional everyone is talking about I always see her post on top comment on every TH-cam video I watched I think I'm interested how can I get in touch with Mrs Stephanie
Succinct, to the point and cuts through the jargon, for an amateur investor like myself, this channel is becoming the perfect resource. You can also tell Damien is passionate about what hes saying which helps alleviate the anxiety and what ifs that come with making big investment decisions. Cant wait for the next vid!!
The app is awful.. for staters, it’s full of bugs, that even trying to register does nothing. It’s supposed to send you a link to your email... doesn’t work! Try to get in contact with someone for support? Good luck with that... automated message forum!! Absolute crap!! Don’t bother!!!
No questions ... just got monetised and good to see someone so passionate about personal finance here in England. May be some day we will educate the world in this domain! Keep up the great work.
I think 3£/month on ISA account is a lot when other platforms charge you around 0.45% or am I missing something ...? I know freetrade does not charge for trades like others but still .....
I don't see why you say the isa is more expensive than vanguard ISA under 10k, freetrade is 3 gbp a month while vanguard is around 0,22% ongoing fees + 0,15% platform fee. Just taking into account the ongoing fee, you already overpass the 3 GBP on funds over 2k
Have you considered the fact the funds on freetrade also have the same approx 0.22% fees? It isn’t just the 3 quid you also pay the OCR There is also the fact freetrade have a lot of their investments behind a paywall. But to be honest with you I made this video ages ago. I have since changed my Mind about freetrade. They may be slightly more expensive on the low end compared to 212 and V. But I think they are very open and transparent and offer great customer service.
I don’t agree, £9.99 x 12 = £119.88 if you deposit £200 into an index fund monthly at an average of 10% return you make £600. £600-119.8 = 480. Then plus any other money you make
The FCA £85k guarantee, that would be to just cover money sat in cash wouldn't it if they went bust? If you had bought shares using the app, they would be safe anyway wouldn't they, because they would be in your name on the buy confirmation?
So the 85k covers all assets on the platform. But you are correct in theory. When you invest with a stockbroker, your assets are ring-fenced from the broker's own. This means that if the broker goes bust, your assets remain intact, and the company's creditors don't have a claim on them. ... But in principle, your assets should still be there.
I used your referral, installed, deposited and placed order for a few shares.. on the free share it still says deposit and wait for your money to then collect the free share so its like it can't see that i deposited lol? anyway on top of that they cancelled all my orders (US) because they did not allow US stock purchases on Friday due to a technical issue haha not the best start with Freetrade, i think i will stick to trading212 :P
I don’t use free trade My favourite brokerage is Charles Schwab Great video New subscriber here Always happy to support a fellow finance channel like myself Hope we continue to interact and support each other 👍😀
@@DamienTalksMoney Thank you! May I ask if you have changed your thoughts on this at all since making the video? (Freetrade I mean) I ask because I know they have added a lot of stocks / companies since this was made. I was swaying towards vanguard, but I'm not gonna lie, I really want to pick up some individual stocks right now whilst the prices are great. Etoro has started putting limits on a few stocks so I am having to look elsewhere and trying to find a stocks ISA to use instead. But I am guessing I can only open one with Vanguard or Freetrader, and not both within the same year? If any of that made sense Really appreciate your help thanks again
@@SketchedbySte also yes you can only open 1 isa each financial year, you can pay into both. If I had to choose and I wanted the ability to invest in both Vanguard funds and individual companies I would be going freetrade
I am using both trading 212 and Freetrade. I would say Freetrade is much better in terms of offering more UK stock than 212. Freetrade added lots of popular UK stock recently
So it is not 100% free to use, so much untruthful marketing from these companies. The only true 100% trading app is Trading 212, though if you dont already have an account with them, you will never have one now.
I do half my money trading in a UK company and the other half in a US company. Because the market in the US is 5 hours behind, so that gives me 5 hours extra every workday to buy or sell. I'm making very small amounts at the moment. But when I get the hang of it and know what I'm doing I'm going to plow shit loads in there, by my standards anyway. It's the easiest trading app I've used so far so that means the best. I'm not thick, but not mensa either so it's good for me.
Hi Mate, Freetrade is an investing platform, the only way you can lose money is if the value of your investments drop. So if i buy £10 worth of apple and it drops in value by 10% the value of my investment will drop to £9. You only lock in this loss if you decide to sell at that point. so nothing saying that apple couldn't increase back in value again. Etorro i believe use leverage and margin and complex options like CFDS. which is a whole other ball game.
This all sounds good and I'm thinking of starting up with free trade but how easy is it to withdraw funds?. I've read some negative reviews saying that they couldn't get their money
Honestly I have never had a single issue with getting my money out at all! I have been using the service for well over 12 months now. the customer service they offer is really good also. Trading 212 offer a similar service also you will find a link in the description of my videos for a free share with either when you sign up.
@@DamienTalksMoney hi Damien. Thanks for the video! I just want to understand *how* to go about withdrawing money? Does the app also update daily/by the hour on how much you may have made / lost?
Would you say this is the best app to invest a lump sum in on company and sit on it for a year or so then sell???????? I'm new to this as you can probably tell.
You might be waiting quite a while if you want the life strategy funds on the Freetrade platform, The vanguard funds are UCITS funds (open ended effectively) whereas Freetrade only deal with Exchange Traded Funds (ETFs) or closed Investment Trusts. I don't believe they are looking to add other types structures of funds any time soon if ever. However there are a fair few ETFs to choose from including vanguard equity funds, gold, US and UK government bonds and corporate bonds of varying length and maturity. Personally I'm just a full global equity boi with my 100% VWRL allocation in my tracker so I'm more than happy to use these guys as my sole brokerage Great vid mate! -Kiki
Thanks for the comment you are correct, the ETFs deserved more air time in the review as you are also correct it is more than possible to build a well diversified portfolio using the available ETFs! Also the commison free structure of freetrade probably makes ETFs on this platform cheaper than index fund counterparts on other platforms, dependant on levels of funds deployed. But again to a new investor with £100 a month to invest who wants to remain tax efficient I believe the ISA price would detract from the relative cheapness of the ETF. Also from a personal perspective I would be much more inclined to commit to the ISA product with Freetrade once I hit 85k or near in my other account and that I have seen the fixed fee doesn't creep up over time. You are clearly one of the freetrade fans I spoke about. So thanks for taking the time to leave such an insightful comment it is appreciated. Damien
Yeah but there’s a problem with withdrawal from freetrade. Can you make a video on how to withdraw funds please. As the freetrade team are just not that bothered about helping me out when it comes to this.
That’s up to you mate! Personally I prefer freetrade out the two on the basis it gives more flexibility in terms of investing. It has vanguard funds and you can buy shares in individual businesses.
I don't think so mate. but you only pay these fees on shares that are listed in another country. Ultimately the app will incur a cost converting the funds so need to recoup this.
That depends on your income level and if you used an ISA or not and how much your investments have grown. Tbh I doubt it, but obvs can’t speak on you personally circumstances Thanks Damo
Another awesome video - I have S&S ISA with Plum - do you have any thoughts on this app and how it compares to freetrade etc? Would love a review video in future! Cheers!
I still find Freetrade a bit lacking compared to trading212 and Degiro but I like the changes they are making so hopefully they continue to develop.. subbed! Adam
I subscribed to your channel yesterday after watching the _We need to talk about BitCoin_ video. Thanks for setting-up this channel, it is UK specific and your comments about the coinbase.com exchange giving user info to the Treasury and thus allowing the governenenment to tax us was very pertinent, indeed! 🤔😨😰☠ I'm completely green about investing; I am reading through _CFA Institute_ study materials; I might end-up sleeping in a shop doorway but I'd rather risk it than be left wondering "what-if" when I'm on my death-bed. Do you use both "Freetrade" _and_ "Trading212"?
Haha love this comment! Thank you Yes I use both but In April when the new tax year starts I will dig deep on comparing the two platforms and open an ISA with one for the year
@@DamienTalksMoney I actually already have opened a stocks and shares ISA this year with vanguard so I am just using the Freetrade GIA as a bit of fun. At what point would I get taxed?
Hi Damien If I refer a friend. Do they need to fund there account so I receive my free share? If so, how much? And do they need to invest their funds for me to get the free share
Hello! I see no issue with buying index funds with freetrade and yes i would trust large amounts of cash as they are covered by the Financial services compensation scheme.
Freetrade is not really free lol graphs are redicolous ..... price delay as well not really free as they eating some gain percentage from gain very very small but they do and they do not say that !!!!
Hi mate, Never used them myself mate to be honest, But I think the copy a trader thing is an interesting feature. Reading reviews online a lot of people moan about the fees.. Now i dont know if this is the case or not and at some point i will do a proper full review on them.
Hi great video and looks perfect for me. I want to get into investing and have just got a stocks and shares ISA at Vanguard which is a long term thing. I also want to buy and sell shares on the stock market in individual companies to make a profit over 6-12 months by investing in a range of different companies when opportunities arise. Will I be able to use this app as I already have an ISA at Vanguard?
Hi Sam! Thanks for the message, yes you can use the app! No problem at all, You would just use the general investment account instead of the ISA. There are tax considerations but for my own personal circumstances which may also relate to you, you get a tax free allowance for both capital gains and dividends. Which are the two taxes that an isa protects you from, on the short term stuff I am not really making enough cash to exceed these thresholds. Check them out for yourself see if they apply to you. Below in the description is link if you click it to sign up we both get a free share!
@@DamienTalksMoney Great thanks for such a fast reply! I just want to earn a few hundred her and there if I can so i won't have to pay tax on that. I will use your link to sign up if I do. Would you say this is better than trading 212?
@@sambishop3460 hi mate! I can’t answer questions about your specific tax position but most people in the U.K. get £12,300 capital gains allowance and £2,000 for dividends before they need to pay any tax. For me I fall well below that on my short term stuff, For the general investment account I probs like freetrade more as they have more available and the customer service is excellent. But it’s like saying Tesco vs Asda.
yes they do mate, Vanguard and HL charge loads! Check out free trade, or trading 212. If you decide to use either let me know i will send you a link to get a free share. Damo
Hi Damien, Great videos! A few questions: What you think of the ETF list that is available on free trade now, almost a year after your initial review? There are a few vanguards Etf including the S&P500 and many I share funds by Blackrock. Vanguard UK I have to say has a few goods Life strategy funds above all the 100% equity ones. However, I wish they had available the SP 500 and US Ftse In accumulation. Do you still rate the vanguard UK selection overall superior in terms of ETF compared to the Freetrade ones? What you think of Investing in a Life strategy Fund VS buying a few simple ETF trackers over a 30 years time span? Personally, I feel it would be very difficult for a managed found over a 30 years time period to overperform for instance an ETF tracker?
Honestly mate I love freetrade and 212. I think the likes of Vanguard and HL need to do alot to catch up. I think if your investing for 30 years in either the LS or ETFs you are like to do well regardless.
Hi James!! First of all thanks for watching the whole video and for leaving such positive feedback! Really appreciate it mate. The free trading revolution has made it possible for anyone to have a go! Let me know if you get stuck with any of it and good luck. Damo
hi damien love ur vids. keep up the good work. what do you think of transparent business? worth investing. its a pre ipo opportunity. any advice appreciated m8 thanks
Damo - I’ve opened a vanguard isa recently to purchase their LS100 fund. If I wanted to try out picking up random individual shares am I allowed to open Freetrade GIA account? Talking maybe like £50 here or there as a punt.
Personally I buy regardless of current market conditions and/or the threat of recession. I investment for the long term and see recessions as an oppurtunity to pick up investments cheaper. But it all depends on your time horizon with needing the funds. If I needed them in the next couple years I wouldn't personally invest them in the markets.
If your asking me about the options market on 212. I would say they are complex financial instruments, which carry a lot of risk and i would only use them with money i was prepared to loose and if i had a good understanding. Not a investment for beginners. 212 overall is better than Freetrade imo, just through the choice and variety they offer, but just because you can invest in something, doesn't mean you should. I don't touch options.
I would say 212 Is probs the best option on the market right now. The likes of vangaurd and HL, got some catching up to do. Freetrade just doesn't have as many options as 212.
I'm looking at freetrade as an alternative to trading 212 because they still aren't accepting new customers Damien can you have as many ISAs as you want or is there a limit in the uk?
Hi Damian, I love the videos! I have just started a freetrade account and wish to start investing through it as my only investment app. I set up an isa through freetrade on impulse before watching this vid and now I'm wondering if I should cancel it until I get 10k in my general investment account. What do you recommend I do?
I personally think it is worth investing in an ISA always do to the long term tax benefits but if you you are staying under the capital gains tax allowance and dividend amount you could wait until you have a bit of funds built up
Hi Damien fantastic video, love you content as always. Quick questions 1. How does this compare to IG ? 2. How do the charges compare with IG for trading US shares ?
Hi Mate! I don't know IG all that well, But I can tell you that free trade has no fees for buying or selling stocks and no spread fees at all. IG looks more like CFD trading? which would make it a whole different kettle of fish.
Hi Damien! Great video, I currently have a stocks and shares ISA with Vanguard, however I also want to invest into individual stocks am I able to also start investing on free trade at the same time?
You can but you cant have 2 ISAs at the same time. you can only pay into 1 each financial year. if you have already paid into your V isa this year you would need to use a general account on freetrade.
Hi Ash! As long as you buy the shares inside an isa they can be included. The isa allowance is 20k paid into it each year. Alot of the cash i invest with is already inside the ISA sat there waiting. I hope that makes sense?
@@DamienTalksMoney thanks Damien. That makes sense. Can a person have two ISAs at once. So for example an isa with vanguard and one with free trade? As a side topic what are your go to resources for researching all things stocks and shares?
@@ashleyhodge549 you can have more than 1 isa but you can only pay into 1 type of each isa each financial year, so if you pay anything into your freetrade one you can’t then put cash into another providers. But you can do everything you need on freetrade or say trading 212
@@DamienTalksMoney cheers Damien. So If I’ve understood I can have a vanguard isa which provides tax benefits and any trades on free trade would fall under the usual tax I pay? Cheers for responding!
Hi Guys,
If you want a free share when signing up. Below is my link
magic.freetrade.io/join/damien-talks-money
Hi Damien, i was looking to open an account on trading 212 but it’s currently full atm and on a waiting list. Is this as good as the trading 212 or should I wait until I’m accepted in 212?
Have you sold any of your free shares ?
Hi Damo. just used your link to start the ball rolling, got all the way through and say authentication failed and they are reviewing the account. I wonder if your link is out of date now or they are not taking on more customers. gotta wait 1-2 business days now before i find out. great.
I used your link but there’s been nothing said about the shares. How does it work then?
Mrs Stephanie is legit and her method works like magic I keep on earning every single week with her new strategy
expert Mrs Stephanie she's really amazing with an amazing skills she changed my 0.3btc to 2.1btc
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Stephanie
I think she is the best broker I ever seen
My first investment with Mrs Stephanie gave me profit of over $24,000 us dollars and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known
Mrs Stephanie is obviously the best, I invested $3,000 and she made profit of $30,000 for me just in 7days
Who's this professional everyone is talking about I always see her post on top comment on every TH-cam video I watched
I think I'm interested how can I get in touch with Mrs Stephanie
Succinct, to the point and cuts through the jargon, for an amateur investor like myself, this channel is becoming the perfect resource. You can also tell Damien is passionate about what hes saying which helps alleviate the anxiety and what ifs that come with making big investment decisions. Cant wait for the next vid!!
Thanks Tom!! Really appreciate your comment
Damo
Using this app, I love it. Great video again! Class Handwriting too 😂
That was my best attempt aswell.... Haha
The app is awful.. for staters, it’s full of bugs, that even trying to register does nothing. It’s supposed to send you a link to your email... doesn’t work! Try to get in contact with someone for support? Good luck with that... automated message forum!! Absolute crap!! Don’t bother!!!
I didn't experience any of these issues, sorry to hear you have..
Same experience here Darius
As always, let me know if you have questions!
No questions ... just got monetised and good to see someone so passionate about personal finance here in England. May be some day we will educate the world in this domain! Keep up the great work.
Damien, Vanguard or HL charge £100+ per year combined for membership and transaction fees. Why would you say their ISA is cheaper than FreeTrade's?
Good Video Damien but I'm disappointed my scenes got cut 🥺
#thisistom
You feature in the extended director cut that comes out on blue ray in 12 months
How’s the farm Tom?
@@zbadgergamesz great thanks Will. The Fence really did the trick, I'm no fool!
Will you be doing an updated review of Freetrade at some point?
Yes i need to do this! This one is out of date now
I think 3£/month on ISA account is a lot when other platforms charge you around 0.45% or am I missing something ...? I know freetrade does not charge for trades like others but still .....
Yes I do agree with this and that was one of my concerns with them when reviewing.
I don't see why you say the isa is more expensive than vanguard ISA under 10k, freetrade is 3 gbp a month while vanguard is around 0,22% ongoing fees + 0,15% platform fee. Just taking into account the ongoing fee, you already overpass the 3 GBP on funds over 2k
Have you considered the fact the funds on freetrade also have the same approx 0.22% fees?
It isn’t just the 3 quid you also pay the OCR
There is also the fact freetrade have a lot of their investments behind a paywall.
But to be honest with you I made this video ages ago. I have since changed my Mind about freetrade. They may be slightly more expensive on the low end compared to 212 and V. But I think they are very open and transparent and offer great customer service.
4:27 I'm currently with HL, does freetrade not show you what the exact price is before you purchase?
They show you price but it is subject to change slightly
I don’t agree, £9.99 x 12 = £119.88 if you deposit £200 into an index fund monthly at an average of 10% return you make £600. £600-119.8 = 480. Then plus any other money you make
I dont get how you would have a £600 return on 200 a month at 10%?
Are you doing the 10% monthly? It should be annually.
Great video Damien, will definitely look into using free trade in the future when investing in shares
Defo Zach! Great to be able to buy a bit of your fave company for the change in your pocket.
The FCA £85k guarantee, that would be to just cover money sat in cash wouldn't it if they went bust? If you had bought shares using the app, they would be safe anyway wouldn't they, because they would be in your name on the buy confirmation?
So the 85k covers all assets on the platform.
But you are correct in theory.
When you invest with a stockbroker, your assets are ring-fenced from the broker's own. This means that if the broker goes bust, your assets remain intact, and the company's creditors don't have a claim on them. ... But in principle, your assets should still be there.
Where would you invest the likes of 10k like you said in the video ?
I used your referral, installed, deposited and placed order for a few shares.. on the free share it still says deposit and wait for your money to then collect the free share so its like it can't see that i deposited lol? anyway on top of that they cancelled all my orders (US) because they did not allow US stock purchases on Friday due to a technical issue haha not the best start with Freetrade, i think i will stick to trading212 :P
It is because of all this GameStop mess.. honestly I think 212 is having an even worse time of it.
Thank you for using my link all the same mate!
I don’t use free trade
My favourite brokerage is Charles Schwab
Great video
New subscriber here
Always happy to support a fellow finance channel like myself
Hope we continue to interact and support each other
👍😀
Hi mate! Thanks for the support and more than happy to return it. On my way to your channel now
Damo
Do they have a quote and deal system when buying? So you can freeze a quote for 15sec so you know exactly what you would pay..
What would you say are the advantages of FreeTrade over the likes of Trading 212 and eToro? I’m wondering which app to start with.
Very similar, The only thing i could point to is Freetrade dont offer CFDs and were not impacted by Gamestop as much
@@DamienTalksMoney thank you
I had no idea I was supposed to be paying stamp duty on fees, do you have any videos on this? Or is it taken automatically from fees? Thanks
It is taken automatically don’t worry!
@@DamienTalksMoney Thank you! May I ask if you have changed your thoughts on this at all since making the video? (Freetrade I mean) I ask because I know they have added a lot of stocks / companies since this was made.
I was swaying towards vanguard, but I'm not gonna lie, I really want to pick up some individual stocks right now whilst the prices are great. Etoro has started putting limits on a few stocks so I am having to look elsewhere and trying to find a stocks ISA to use instead. But I am guessing I can only open one with Vanguard or Freetrader, and not both within the same year?
If any of that made sense
Really appreciate your help thanks again
@@SketchedbySte yes I have! I honestly couldn’t speak higher of the platform now. I need to remake this video.
@@SketchedbySte also yes you can only open 1 isa each financial year, you can pay into both. If I had to choose and I wanted the ability to invest in both Vanguard funds and individual companies I would be going freetrade
Honestly you do a videos on everything I need to know!!!!
Haha this is great to hear Matthew!
Don't you have to pay capital gains tax though when you sell up, compared to 0 on an ISA as its tax-free
If you exceed the 12300 a year tax free allowance yes
@@DamienTalksMoney
S&P 500 = 46% = £4270 = 12 shares
Ftse 100 = 13% = £1220 = 9 shares
Ftse developed markets = 13% = £1191 = 18 shares
UK real estate = 5% = £467 = 70 shares
US real estate = 6% = £660 = 32 shares
S&P Health Care = 3% = £276 = 33 shares
NASDAQ 100 = 7% = £626 = 1 share
Glencore Commodities = 7% = £601 = 114 shares
Do you think this is good?
I am using both trading 212 and Freetrade. I would say Freetrade is much better in terms of offering more UK stock than 212. Freetrade added lots of popular UK stock recently
I have also been impressed by how much Freetrade add to the platform!
So it is not 100% free to use, so much untruthful marketing from these companies. The only true 100% trading app is Trading 212, though if you dont already have an account with them, you will never have one now.
I do half my money trading in a UK company and the other half in a US company. Because the market in the US is 5 hours behind, so that gives me 5 hours extra every workday to buy or sell. I'm making very small amounts at the moment. But when I get the hang of it and know what I'm doing I'm going to plow shit loads in there, by my standards anyway.
It's the easiest trading app I've used so far so that means the best. I'm not thick, but not mensa either so it's good for me.
If you invest into a company that gives you a divended, will you recieve that money monthly?
It depends on when the company pays the dividend mate. Some pay monthly, some pay quarterly some pay yearly.
What's the difference between using this Freetrade and looking at the market on City Index or Etoro?
How do you lose money?
Hi Mate,
Freetrade is an investing platform, the only way you can lose money is if the value of your investments drop. So if i buy £10 worth of apple and it drops in value by 10% the value of my investment will drop to £9. You only lock in this loss if you decide to sell at that point. so nothing saying that apple couldn't increase back in value again.
Etorro i believe use leverage and margin and complex options like CFDS. which is a whole other ball game.
This all sounds good and I'm thinking of starting up with free trade but how easy is it to withdraw funds?. I've read some negative reviews saying that they couldn't get their money
Honestly I have never had a single issue with getting my money out at all! I have been using the service for well over 12 months now. the customer service they offer is really good also.
Trading 212 offer a similar service also you will find a link in the description of my videos for a free share with either when you sign up.
@@DamienTalksMoney hi Damien. Thanks for the video! I just want to understand *how* to go about withdrawing money? Does the app also update daily/by the hour on how much you may have made / lost?
Would you say this is the best app to invest a lump sum in on company and sit on it for a year or so then sell???????? I'm new to this as you can probably tell.
You might be waiting quite a while if you want the life strategy funds on the Freetrade platform, The vanguard funds are UCITS funds (open ended effectively) whereas Freetrade only deal with Exchange Traded Funds (ETFs) or closed Investment Trusts. I don't believe they are looking to add other types structures of funds any time soon if ever. However there are a fair few ETFs to choose from including vanguard equity funds, gold, US and UK government bonds and corporate bonds of varying length and maturity.
Personally I'm just a full global equity boi with my 100% VWRL allocation in my tracker so I'm more than happy to use these guys as my sole brokerage
Great vid mate!
-Kiki
Thanks for the comment you are correct, the ETFs deserved more air time in the review as you are also correct it is more than possible to build a well diversified portfolio using the available ETFs! Also the commison free structure of freetrade probably makes ETFs on this platform cheaper than index fund counterparts on other platforms, dependant on levels of funds deployed.
But again to a new investor with £100 a month to invest who wants to remain tax efficient I believe the ISA price would detract from the relative cheapness of the ETF. Also from a personal perspective I would be much more inclined to commit to the ISA product with Freetrade once I hit 85k or near in my other account and that I have seen the fixed fee doesn't creep up over time.
You are clearly one of the freetrade fans I spoke about. So thanks for taking the time to leave such an insightful comment it is appreciated.
Damien
I own stock and shares isa for £ 3 a month. Why can't I buy any etf?
You should be able to buy the ETFS inside you isa
But vanguard doesn't do fractional shares so for users with under 10k wouldn't the cheaper fractional shares option be better?
Yeah but there’s a problem with withdrawal from freetrade.
Can you make a video on how to withdraw funds please. As the freetrade team are just not that bothered about helping me out when it comes to this.
Hi i dont have more than 10K nor have an ISA so should I not use freetrade & go for vanguard. Im also new to all of this, thanks
That’s up to you mate! Personally I prefer freetrade out the two on the basis it gives more flexibility in terms of investing. It has vanguard funds and you can buy shares in individual businesses.
Hi thank you for the reply. Would u recommend the ISA or GIA account
I would always use an ISA personally to stop any worries about tax
Hello Sir, quick question on Freetrade please: Is it possible to open a USD account and avoid the foreign exchange fee when I trade USD stock?
It is not i am afraid annoying i know.
Are there any apps out there which are truly free? I.e. don’t charge the FX fee
I don't think so mate. but you only pay these fees on shares that are listed in another country. Ultimately the app will incur a cost converting the funds so need to recoup this.
I really like the intro! And think the editing is really good
Thank you again! Really appreciate the support
Ive got 150pound in a basic account..im going to sell my stock and withdraw it into my bank account..will i pay tax or have to fill out any forms??
That depends on your income level and if you used an ISA or not and how much your investments have grown.
Tbh I doubt it, but obvs can’t speak on you personally circumstances
Thanks
Damo
Another awesome video - I have S&S ISA with Plum - do you have any thoughts on this app and how it compares to freetrade etc? Would love a review video in future! Cheers!
In the video you mentioned that you can buy fractional shares......that is only on US shares not not UK.
Great videos, keep up the great content
You are very right! Thank you for pointing this out and i apologise for my error.
Thank you!!! So for small transactions, you would advise not having the ice add on? I just want to buy the Index funds
I still find Freetrade a bit lacking compared to trading212 and Degiro but I like the changes they are making so hopefully they continue to develop.. subbed! Adam
Couldn't agree more. 212 has a broader offering. Freetrade is a pretty app I guess you can give them that.
@@DamienTalksMoney what would you say is the best app for me i only have 50 quid to risk at first?
@@angrybrit7331 same, did you invest the 50 then. If so, did u make profit?
I subscribed to your channel yesterday after watching the _We need to talk about BitCoin_ video.
Thanks for setting-up this channel, it is UK specific and your comments about the coinbase.com exchange giving user info to the Treasury and thus allowing the governenenment to tax us was very pertinent, indeed! 🤔😨😰☠
I'm completely green about investing; I am reading through _CFA Institute_ study materials; I might end-up sleeping in a shop doorway but I'd rather risk it than be left wondering "what-if" when I'm on my death-bed.
Do you use both "Freetrade" _and_ "Trading212"?
Haha love this comment! Thank you
Yes I use both but In April when the new tax year starts I will dig deep on comparing the two platforms and open an ISA with one for the year
@@DamienTalksMoney OK cheers, I've got some reading to do... 📈
@@donovanwray5974 Main thing for me is Fees. But that can be not a simple thing to compare. But yeah i will go for whoever is cheapest overall.
@@DamienTalksMoney ...and security.
can i use my vanguard stocks and shares isa which i just set up and this at the same time in the year if don't select isa with free trade
As long as you dont use the ISA and you use the general investment account you are ok.
Is GIA account the best to use if I want to avoid the 3 pound per month subscription? Will I get taxed on this?
Yes it is the best way to avoid the 3 quid but ultimately the isa protects your investments from tax. Which can be massively expensive in the long run
@@DamienTalksMoney I actually already have opened a stocks and shares ISA this year with vanguard so I am just using the Freetrade GIA as a bit of fun. At what point would I get taxed?
Hi Damien
If I refer a friend. Do they need to fund there account so I receive my free share? If so, how much? And do they need to invest their funds for me to get the free share
Yes they need to credit the account and make an investment.
@@DamienTalksMoney is there a minimum amount they need to fund for me to get the free share?
Update, I have now got the account working. Very easy to buy shares and also noticed it was very quick also to fund the account.
Great Video Damien.. I have never thought of investing before but you make it look easy. watch this space ! look forward to more vids !
Thank you! Plenty more to come
Thanks for the in-depth free trade app review. Free and easy to use, that's why it is so attractive to UK users.
Certainly is! Thank you for the comment
I was a plus 500 user but after this I’ll be making the swap. Easy to use and free trading! Lovely stuff. Thanks!
Great stuff larold!! Glad it was useful
Spent 104 pounds...... up 12 quid in 2 days
Well done!
@@DamienTalksMoney thanks dude, you vids helped me understand it better, going into BP next
For a complete novice to trading is this a good app, I just want to buy and sell using upto £100, is this a good app to start with ? I know zero tbh.
Yes mate it is perfect for this, So is trading 212, I have reviewed both on my channel.
Damo
@@DamienTalksMoney thanks, I'm just signing up now 😊
@@BackDaws If you fancy using my free share invite i would love you for ever haha. We both get one then.
@@DamienTalksMoney shit, I've already signed up, can I still use it ?
I have invested in FREETRADE after your advices nd cant get my money out. Can you help? Regards. Andy
This is concerning to read, but I have never had any issues taking money off the platform. Have you contacted their live chat?
Should I use the gia account or £3 month one?
I can’t answer that, but personally I would always invest in the ISA if I wasn’t investing in one anywhere else
Thanks for the video, would you buy index funds on here? Would you recommend putting in large amounts of money into this account?
Hello! I see no issue with buying index funds with freetrade and yes i would trust large amounts of cash as they are covered by the Financial services compensation scheme.
@@DamienTalksMoney Thank you
Freetrade is not really free lol graphs are redicolous ..... price delay as well not really free as they eating some gain percentage from gain very very small but they do and they do not say that !!!!
Yeah and they charge for the ISA and keep some companies behind a pay wall but in their defence. they are still way cheaper than most other options
Another great video Damien. So easy to understand 🙌🏻
Thanks Katie! I am glad they are useful
Damien nice vid what you think of eToro ?
Hi mate,
Never used them myself mate to be honest, But I think the copy a trader thing is an interesting feature. Reading reviews online a lot of people moan about the fees.. Now i dont know if this is the case or not and at some point i will do a proper full review on them.
Hi great video and looks perfect for me. I want to get into investing and have just got a stocks and shares ISA at Vanguard which is a long term thing. I also want to buy and sell shares on the stock market in individual companies to make a profit over 6-12 months by investing in a range of different companies when opportunities arise. Will I be able to use this app as I already have an ISA at Vanguard?
Hi Sam!
Thanks for the message, yes you can use the app! No problem at all,
You would just use the general investment account instead of the ISA.
There are tax considerations but for my own personal circumstances which may also relate to you, you get a tax free allowance for both capital gains and dividends. Which are the two taxes that an isa protects you from, on the short term stuff I am not really making enough cash to exceed these thresholds. Check them out for yourself see if they apply to you.
Below in the description is link if you click it to sign up we both get a free share!
@@DamienTalksMoney Great thanks for such a fast reply! I just want to earn a few hundred her and there if I can so i won't have to pay tax on that. I will use your link to sign up if I do. Would you say this is better than trading 212?
@@sambishop3460 hi mate! I can’t answer questions about your specific tax position but most people in the U.K. get £12,300 capital gains allowance and £2,000 for dividends before they need to pay any tax.
For me I fall well below that on my short term stuff,
For the general investment account I probs like freetrade more as they have more available and the customer service is excellent. But it’s like saying Tesco vs Asda.
@@DamienTalksMoney Amazing, thanks for your help! love your videos
I'm with HL at the minute, I'm sure they charge £15 per share purchase?
I may sign up to this for purchasing and selling and leave my isa in HL
yes they do mate, Vanguard and HL charge loads!
Check out free trade, or trading 212. If you decide to use either let me know i will send you a link to get a free share.
Damo
Thanks so much, Damian! Do you recommend using freetrade for medium term (3-6 months between buy and sale of shares) on US stock market?
Yes I think they are an ok trading app, issue is their conversion fees.
Hi Damien, Great videos!
A few questions: What you think of the ETF list that is available on free trade now, almost a year after your initial review?
There are a few vanguards Etf including the S&P500 and many I share funds by Blackrock.
Vanguard UK I have to say has a few goods Life strategy funds above all the 100% equity ones. However, I wish they had available the SP 500 and US Ftse
In accumulation. Do you still rate the vanguard UK selection overall superior in terms of ETF compared to the Freetrade ones?
What you think of Investing in a Life strategy Fund VS buying a few simple ETF trackers over a 30 years time span?
Personally, I feel it would be very difficult for a managed found over a 30 years time period to overperform for instance an ETF tracker?
Honestly mate I love freetrade and 212. I think the likes of Vanguard and HL need to do alot to catch up.
I think if your investing for 30 years in either the LS or ETFs you are like to do well regardless.
Nice video man! Always good to see someone be themselves when it comes to these videos! I’ll defo be having a cheeky little dabble myself I think!
Hi James!!
First of all thanks for watching the whole video and for leaving such positive feedback! Really appreciate it mate.
The free trading revolution has made it possible for anyone to have a go! Let me know if you get stuck with any of it and good luck.
Damo
Thanks for the video 👍🏼
Strange how Freetrade and trading 212 have such a high proportion of 1 star reviews on google play
It was people reaction to GameStop blaming them for market makers restricting trades. In reality it was not their faults at all.
Awesome intro first of all.
I am excited to see more from you and support a fellow small TH-cam
Thank you and thanks for the support! i will be sure to return the favour
Damien
hi damien
love ur vids. keep up the good work.
what do you think of transparent business? worth investing. its a pre ipo opportunity.
any advice appreciated m8
thanks
Thanks mate! Honesty never heard of them so i cant comment.
Damo - I’ve opened a vanguard isa recently to purchase their LS100 fund.
If I wanted to try out picking up random individual shares am I allowed to open Freetrade GIA account? Talking maybe like £50 here or there as a punt.
Yes indeed! you can use the GIA
@@DamienTalksMoney thank you sir!! Didn’t wanna get caught out on anything.
You still holding Boohoo?
Hi Damien quick question should I use freetrade or wait for trading 212 as I'm on the waiting list thanks mate. Love the videos.
As it stands i would use free trade personally. No idea when 212 will sort things out...
Top quality videos, honestly!
Thank you so much mate! Legend for this comment
@@DamienTalksMoney no problem at all!
Great video
Glad you liked it! This is an old one
Wow how interesting!! I look forward to more videos. However, with the prospect of recession would you still have the same advice on investing?
Personally I buy regardless of current market conditions and/or the threat of recession. I investment for the long term and see recessions as an oppurtunity to pick up investments cheaper.
But it all depends on your time horizon with needing the funds. If I needed them in the next couple years I wouldn't personally invest them in the markets.
Opinions on trading 212?
If your asking me about the options market on 212. I would say they are complex financial instruments, which carry a lot of risk and i would only use them with money i was prepared to loose and if i had a good understanding. Not a investment for beginners. 212 overall is better than Freetrade imo, just through the choice and variety they offer, but just because you can invest in something, doesn't mean you should. I don't touch options.
Damien Talks Money thank you!
I’m gonna have a look into others but I think 212 is what I’m solid with atm, just gonna look around for others
I would say 212 Is probs the best option on the market right now. The likes of vangaurd and HL, got some catching up to do. Freetrade just doesn't have as many options as 212.
I missed read your comment as options and not opinions 😂😂😂 hence why I started talking about 212 options trading sorry.
Damien Talks Money ahahha it’s fine don’t worry! Yea I think I’ll use 212 tbf, I’m already fairly used to the app itself which is good
Only recently found your channel. Loving your content. Thanks! Will you be doing a video on Nexo?
Thank you mate! so far i have only reviewed products i use, I will need to have a good play around with NEXO before I try it.
A very serious time lag problem in the share prices, it can cause serious problems
Yes for sure this is the case!
Great review. Will download
It's worth a play around with for sure. See if you can get a link from someone for the freeshare!
I'm looking at freetrade as an alternative to trading 212 because they still aren't accepting new customers
Damien can you have as many ISAs as you want or is there a limit in the uk?
You can only pay into one isa each year. But can have as many ISAs as you like as long as you only pay into one each year
@@DamienTalksMoney Thanks mate
Trading 212 is not available, is etoro good? I've not heard great thing from this platform
Freetrade are great, I have not used Etorro myself but i hear they are good.
@@DamienTalksMoney Thanks, I already have this but it doesn't have a wide variety of options. Was looking for something that covers niche industries.
Any platform that claims to have no fees is trash lol
Freetrade charge fees.
Hi Damian, I love the videos!
I have just started a freetrade account and wish to start investing through it as my only investment app. I set up an isa through freetrade on impulse before watching this vid and now I'm wondering if I should cancel it until I get 10k in my general investment account. What do you recommend I do?
I would always use the ISA mate! I wish i could remake this video I think i was a little harsh on Free trade. they are way cheaper than most
@@DamienTalksMoney thanks for the reply Damien... keep up the good work!
one of my fave vids this!
Thanks Jonny!
So is it worth paying 3£ a month for an isa if I’m only putting in say 30-50£ a month?
I personally think it is worth investing in an ISA always do to the long term tax benefits but if you you are staying under the capital gains tax allowance and dividend amount you could wait until you have a bit of funds built up
@@DamienTalksMoney I have 2k in a normal savings, im going to talk to my bank too as I just want my cash to work for me!
Concise and informative video. Look forward to seeing more videos and the channel grow.
I defo owe you a beer haha
Another good video👏🏼
Thanks Oliver!
What do you think of this app compared to etoro?
I personally prefer Freetrade as an overall offering.
I hope you got a good free share and it wasn’t JD this time….?
You legend Lesly! i got Meggit at like 7 quid. So not too bad at all!
Wow, a random share after all! Mine was £5.28!
Hi Damien fantastic video, love you content as always. Quick questions
1. How does this compare to IG ?
2. How do the charges compare with IG for trading US shares ?
Hi Mate!
I don't know IG all that well, But I can tell you that free trade has no fees for buying or selling stocks and no spread fees at all. IG looks more like CFD trading? which would make it a whole different kettle of fish.
Hi Damien! Great video, I currently have a stocks and shares ISA with Vanguard, however I also want to invest into individual stocks am I able to also start investing on free trade at the same time?
You can but you cant have 2 ISAs at the same time. you can only pay into 1 each financial year. if you have already paid into your V isa this year you would need to use a general account on freetrade.
Does free trade work in China?
I dont know sorry. Maybe check out etorro.
Hi Damien, great video! If you made money with short term investments can this be included within your ISA allowance for the current financial year?
Hi Ash!
As long as you buy the shares inside an isa they can be included. The isa allowance is 20k paid into it each year. Alot of the cash i invest with is already inside the ISA sat there waiting.
I hope that makes sense?
@@DamienTalksMoney thanks Damien. That makes sense. Can a person have two ISAs at once. So for example an isa with vanguard and one with free trade?
As a side topic what are your go to resources for researching all things stocks and shares?
@@ashleyhodge549 you can have more than 1 isa but you can only pay into 1 type of each isa each financial year, so if you pay anything into your freetrade one you can’t then put cash into another providers.
But you can do everything you need on freetrade or say trading 212
@@DamienTalksMoney cheers Damien. So If I’ve understood I can have a vanguard isa which provides tax benefits and any trades on free trade would fall under the usual tax I pay? Cheers for responding!
incredible video thank you
Thanks Craig!
This vid is just too good! Had to drop a sub
Legend Jimmy!! thank you
In the uk
UK!
Your vids are getting better!
Thank you very much!
Thank you!