Online investing is a relatively new industry and it came about as an investment vehicle for a new generation of investors. These new investors were looking for a way to get involved in the stock market and other forms of investments that the wealthy have been using for many years to grow their wealth.
By taking advantage of the latest technology and the Internet, investment brokers like Freetrade Invest offer its members access to a wide range of investment products such as stocks, funds, and many other products, We put together some valuable information about Freetrade Invest and what they offer.
5 things that You Should Know about Freetrade Invest Before Becoming a Member
- Freetrade is a UK-based brokerage firm – Freetrade Invest is a startup brokerage firm located in the UK. It was started to offer online trading to the people in the UK. Making it easier for beginners and casual investors to access investment products from markets throughout the UK and the two primary markets in the US. They have also begun offering other places in Europe access to their services, adding Ireland and the Netherlands recently.
- Freetrade Invest is a mobile-only brokerage firm – Freetrade Invest only offers a mobile trading platform for all of its members. The Freetrade App is a powerful trading platform that gives all its members full access to multiple global stock markets. These include the two largest US-based markets, NASDAQ and NYSE (New York Stock Exchange). It puts all of your account information in the palm of your hand and that will make it easier to keep track of your trades.
- Offers four different account levels – Since not all investors are the same and have different needs, Freereade developed four different account levels. Each level is designed to offer members premium services that will fill their needs. Whether you choose a free account, Freetrade ISA, Freetrade Plus, or Freetrade SIPP, you can be assured that all of your needs are addressed. Beyond the free account, the three additional account levels will have a monthly charge of £3, £9.99, and £9.99.
- No commissions or fees – Freetrade Invest does not charge its members for buying or selling shares through the mobile app. You also do not need to worry about having to pay fees when you are depositing or withdrawing money from your account. However, there is a fee accessed when trading US stocks, known as an FX.
- Does not offer any financial advice – Freetrade Invest states that it does not offer its members any type of financial guidance or advice on financial decisions. If you are looking for help with that you are encouraged to seek advice outside of your account.
Pros and Cons
Pros of investing with Freetrade Invest
- No commissions on most trades, buying or selling
- Fractional trading is allowed with Freetrade Invest
- Five different types of accounts available for new members
Cons of investing with Freetrade Invest
- Cannot use credit cards, bank debit cards, or electronic wallets