Freetrade app

JustAnotherSaver

Reaper wrote: »

No platform will let you directly buy a fraction of a share, that's why we get share splits from time to time to get the price down to a more manageable amount.

As you says funds do not have the same limitation, though they often have minimum purchase amounts instead.

If it's just for a bet a fantasy portfolio might do the trick. Various platforms offer them.

Yeah i'm aware of the minimum purchase amount being one restriction and the amounts we'd be messing around with wouldn't meet those minimum requirements tbh.



I went to withdraw the balance and knock it on the head but i had to then deposit a further £1 from my bank account to verify it (not sure what the Apple pay transaction did that wasn't verifying but oh well). Still waiting on that showing. Hopefully be tomorrow then i'll shut the lot down and knock it on the head.

gt94sss2

Reaper wrote: »

No platform will let you directly buy a fraction of a share

Freetrade will be offering fractional shares imminently.

They plan to offer fractional shares for UK/US and EU stocks https://www.altfi.com/article/5499_exclusive-freetrade-secures-fractional-share-trading-fca-greenlight

gt94sss2

JustAnotherSaver wrote: »

I went to withdraw the balance and knock it on the head but i had to then deposit a further £1 from my bank account to verify it (not sure what the Apple pay transaction did that wasn't verifying but oh well).

I'm also in the process of making a withdrawal for the first time - the £1 transfer is to confirm your bank account details - so they can transfer the money via Faster payments/BACS.

Apple/Google Pay don't pass the details of the underlying account to Freetrade when you're topping up an account.

Reaper

gt94sss2 wrote: »

Freetrade will be offering fractional shares imminently.

They plan to offer fractional shares for UK/US and EU stocks https://www.altfi.com/article/5499_exclusive-freetrade-secures-fractional-share-trading-fca-greenlight

Interesting. There's a cost and risk associated with doing that for the platform. I can't see how they can offer it for free unless it's only free in the short term as a loss leader.

takesyourchances

I have set up an account with Freetrade a while ago, but yet to use it! I was thinking for a bit of interest and play as such to put in £20 to £30 a week and buy a mix of some UK and large US company shares and just let it run.



My main investing is in my ISA / SIPP into IT's / Funds and indexes etc and I will be sticking to that with a large portfolio and not buying individual companies there.



With the low cost involved and a bit of low weekly money I would be interested to try this out and let it run. I see Robinhood from the US is due to start in the UK too and they seem popular in the States.

JustAnotherSaver

My £1 showed through today so was able to withdraw the balance & call it a day.

takesyourchances

I tried out my Freetrade account for 1st time yesterday with a small amount just over £30 and bought a share in Diageo just before 3pm. I uploaded the funds with google pay and it went smooth. The transaction went through fine and all live on the account.



As I said above I would like to put a small amount in of £20 to £30 a week for some interest and just buy and hold some stocks this way and also would like to get a few US stocks, would like to try a buy with a US stock to see how that all goes.



It is more of a dabble / interest, which of course I would like to see work out well long term but will be keeping my large amounts for my large main portfolio of IT's / Funds / Trackers and see no harm with a bit of low exposure interest with this with the no fee trading costs involved. Interesting, I read they will be starting fractional shares with US companies later this year which would be good as some are highly priced per share like Amazon etc.

tin586

takesyourchances wrote: »

I tried out my Freetrade account for 1st time yesterday with a small amount just over £30 and bought a share in Diageo just before 3pm.

Would you mind posting the actual execution price of the Diageo share you bought?

Thanks.

takesyourchances

tin586 wrote: »

Would you mind posting the actual execution price of the Diageo share you bought?

Thanks.

In total I paid £31.93 for the Diageo share. I placed the order about 2.55pm just before the 3pm deal on Freetrade.



I will build a few more Diageo up with my weekly small deposits and add another, maybe a US company to try it.



Hope that helps you

tin586

Thank you for sharing.
I’ve been considering a general non ISA share dealing account with Freetrade or similar, but have struggled to find info to prove or disprove their loading of the execution price. They might have free trades, but there is no free lunch after all.
The price you paid seems a bit higher than the data I am seeing for trades going through at around the same time.
For one or a few shares this is pretty immaterial, but it would become a serious consideration for a larger number to set against the apparent benefits of the ‘free’ trades.
Thanks again.