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Their entire business model seems to be extremely transparent[1], and they treat their users as customers, not products. I don't know what they are doing now, b

by krn 8y ago

Their entire business model seems to be extremely transparent[1], and they treat their users as customers, not products. I don't know what they are doing now, but I think that farming retail orders out is not something they would be focused on in the long run. It's more like "mobile-first Interactive Brokers for equity trading". [1] https://freetrade.io/pricing/ https://freetrade.io/pricing/

kasey_junk 8y ago
If you read their order-execution statement they are very clearly doing things that are going to have bad execution. Their 'default' order price is a market order that they promise will not clear until after hours or the next day. https://freetrade.io/order-execution/ https://freetrade.io/order-execution/ This is quite possibly the worst way a retail investor could send in an order.
- krn 8y ago
  > Their 'default' order price is a market order that they promise will not clear until after hours or the next day. Isn't this only true for the non-paying users, who are not subscribers of their premium plan? That's probably their entire (freemium) business model. It's the same with Revolut: free users might lose more money in foreign exchange and withdrawal fees, which pushes them to upgrade[1]. [1] https://www.revolut.com/pricing https://www.revolut.com/pricing
  - tptacek 8y ago
    Even if you pay them $10/mo (whether you trade or don't, and keeping in mind that most people shouldn't be trading most months!), they still charge you for "instant" orders (the kind they don't delay purposely) in the one market they actually execute orders in. Robinhood seems like a better deal.
    - krn 8y ago
      That's a good point. It's hard to compare a crowdfunded company with a one burning through more than 500 mln USD in VC funding. But I see no reason why people shouldn't be increasing their passive portfolios every month if they can. And with many brokers, $10 is around a minimum commission for a single trade.
      - tptacek 8y ago
        We are commenting on a thread about a brokerage with substantially lower fees than that.
    - riser9 8y ago
      No, they don't. https://freetrade.io/pricing/ https://freetrade.io/pricing/
      - tptacek 8y ago
        Yes, they do? What I misreading about this pricing page?

by krn 8y ago

kasey_junk 8y ago

If you read their order-execution statement they are very clearly doing things that are going to have bad execution. Their 'default' order price is a market order that they promise will not clear until after hours or the next day. https://freetrade.io/order-execution/ https://freetrade.io/order-execution/ This is quite possibly the worst way a retail investor could send in an order.

krn 8y ago
> Their 'default' order price is a market order that they promise will not clear until after hours or the next day. Isn't this only true for the non-paying users, who are not subscribers of their premium plan? That's probably their entire (freemium) business model. It's the same with Revolut: free users might lose more money in foreign exchange and withdrawal fees, which pushes them to upgrade[1]. [1] https://www.revolut.com/pricing https://www.revolut.com/pricing
- tptacek 8y ago
  Even if you pay them $10/mo (whether you trade or don't, and keeping in mind that most people shouldn't be trading most months!), they still charge you for "instant" orders (the kind they don't delay purposely) in the one market they actually execute orders in. Robinhood seems like a better deal.
  - krn 8y ago
    That's a good point. It's hard to compare a crowdfunded company with a one burning through more than 500 mln USD in VC funding. But I see no reason why people shouldn't be increasing their passive portfolios every month if they can. And with many brokers, $10 is around a minimum commission for a single trade.
    - tptacek 8y ago
      We are commenting on a thread about a brokerage with substantially lower fees than that.
  - riser9 8y ago
    No, they don't. https://freetrade.io/pricing/ https://freetrade.io/pricing/
    - tptacek 8y ago
      Yes, they do? What I misreading about this pricing page?