I'm leaving Freetrade..

I'm leaving Freetrade, I explain why, which stock broker I'm switching to and how it changes my stock portfolio.
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🔔 Disclaimer 🔔
Please note that this video does not constitute investment advice. Investing carries risks, so always conduct your own research and due diligence.
#stocks #stockmarket #investing #finance #ozbourneforeman #stockanalysis #ukinvesting #stockstobuy #freetrade
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[@tomashworth5148]

T212 is miles better than freetrade. Freetrade now seems to be quite ironically named doesn’t it

[@OzbourneForeman]

Ha-ha, indeed it does!

[@lou8762]

To transfer out of Freetrade: 'US securities will incur a cost of £17 per holding' and 'Stocks can only be transferred as whole shares.' So if, like me, you unwisely bought a few (part) US shares at the end of 2021, which are a long way off recovering, you would only want to do an in specie transfer (after buying more part shares to make them whole) but would need to weigh multiples of this £17 fee up against the Freetrade annual fee of £59.88 to hold an ISA.

[@OzbourneForeman]

Fortunately, I only hold two US stocks and I've always bought full shares. I would certainly weigh up whether those part US shares are worth continually holding. If I didn't feel comfortable buying more part shares to make a whole, it might mean I don't have faith in the company and I'd sell. For me, I'll pay £34 and I'll get the cost savings after 3 months of no longer paying for Freetrade Plus. Thanks for sharing!

[@porschecarreras992cabriole8]

Freetrade is cheaper for bigger balances as their fixed fee works out cheaper than anyone else. They don’t offer drawdown yet but I still need 3 years before I will be where so I wait for now and keep investing

[@OzbourneForeman]

Good point - Trading 212 doesn't offer a SIPP and so it makes sense why someone would want a cheap fixed fee broker with higher amounts of capital.

[@freshieabouttown1966]

I like this video Oz, straight to the point and quick... more bite size vids like these please

[@OzbourneForeman]

Here's me thinking I made the video too streamlined! Keen to keep it short, glad you enjoyed it!

[@Lovemy911]

Where have you been ozzy ! 😮

[@OzbourneForeman]

Still going! Uploading once a month these days, so I can develop another business on the side. I also write a monthly newsletter, here's what I wrote this month: investing.ozbourneforeman.com/posts/why-experts-underperform

[@ttrjw]

When you do the in-specie transfer to T212 it asks you to give the cost basis for each share. I'm on T212 and already have access to the in-specie transfer function.

[@OzbourneForeman]

Good to know - I guess the waters get choppy with previously sold stocks. But at least current holdings will be correct!

[@rxr0610]

robinhood is now the best in the uk