Freetrade Brings New Investment Products in the UK, Targets Millennials

Mobile-based stockbroker Freetrade on Tuesday, announced the launch of its flagship brokerage platform in the United Kingdom.

Dubbed Invest by Freetrade, the product suite is regulated by the UK’s Financial Conduct Authority and will offer the traders on the platform thousands of new stocks and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term-traded funds (ETFs). The platform also secured the Financial Services Compensation Scheme certification for ensuring security.

Commenting on the development, Adam Dodds, founder and chief executive of Freetrade, said: “Exorbitant fees of traditional providers shouldn’t be the norm, so we have broken the mould for how Stock Brokers Stock Brokers A stock broker is a company, individual, or entity that is authorized to buy and sell stocks or other financial instruments. Brokers’ main function includes buying and selling orders on a trader’s behalf. Through innovation and a byproduct of us residing with the technology era, more and more traders are beginning to open brokerage accounts with online brokers.In the past, many brokers accrued money through charging a commission on every trade but as competition has strengthened and technology h A stock broker is a company, individual, or entity that is authorized to buy and sell stocks or other financial instruments. Brokers’ main function includes buying and selling orders on a trader’s behalf. Through innovation and a byproduct of us residing with the technology era, more and more traders are beginning to open brokerage accounts with online brokers.In the past, many brokers accrued money through charging a commission on every trade but as competition has strengthened and technology h Read this Term operate by taking brokering in-house, creating our own software platform, and reducing costs tremendously. This benefit is passed directly to Freetrade users in the form of zero-commission trading on over 600 stocks and ETFs. This makes investing in the markets more accessible than ever before.”

Zero-fee trading

Freetrade’s primary clients are millenials due to the platform's strategy of marketing its product without any trading fees. The company is now targeting the same group in Europe.

However, the platform has to face tough competition from platforms like Robinhood, which also opened a branch in the UK.

“For most of Freetrade’s 70,000+ customers, it’s the first investment service they’ve used, and we’re now seeing many investors move over to us from legacy stockbrokers too, with consumers wanting to find a fairer, more transparent place to invest their money,” Dodds added.

“Invest by Freetrade is the most modern brokerage platform in the world and we have all the ingredients to transform how financial services will look in the 2020s. I’m very much looking forward to seeing more people gain access to the stock market’s many opportunities in a fairer way.”