Hacker News Reader

Comment by krn | Hacker News Reader

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/

View on HN

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/

This is quite possibly the worst way a retail investor could send in an order.

> 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

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.

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.

We are commenting on a thread about a brokerage with substantially lower fees than that.

No, they don't. https://freetrade.io/pricing/

Yes, they do? What I misreading about this pricing page?

Reply on news.ycombinator.com