Freetrade

What I think of Freetrade

As a newbie to investing, I found out about this site on some money blogs and thought this would be really good getting a free share. With everything going up, but the standard of living, I wanted to invest in companies that I believe will shape our future for the better. I was looking for something that was low risk, and this app seemed to appeal to me. There were three main reasons why I picked this app to invest in and these reason I will go into later into this article.

Although I have invested in Tick, I also wanted to try other options because I didn’t want to put all my eggs in one basket. I’m trying to be as cautious as I can with how much money I put towards it. So far, putting £5-£10 a month in stocks seems to be working. Because it is also a long term thing, I am hoping that it will be able to treat myself in the long-run.

My long-term goals in the future is eventually own my own property, have a family and travel the world. Making small, but steady steps towards is how I hope to be in a better place finaically in ten years time.

Freetrade has highly rated

The average rating for this app is 4.4 which is very good. I have heard nothing but good things about this app. I know with most things investing comes with great risk and there’s no guarantee of profit. I find the unpredictability of investing attractive, far more than gambling. Most reviews I have read in other blogs and websites have also been positive.

Has a large range of companies you can invest in

Other investing apps have this as well, I believe. seeing brands and companies I know makes me trust this app. I also like how some apps are categorised. As you can see on my picture, I have bought a fraction of shares from Amazon, Tesla, Netflix and Greencoat UK to name a few. I like how there is no limit to how many companies you can purchase a share from. What I also like is how you can invest from as little as £2. You cannot buy or sell below £2, which is worth knowing.

I have been using the app since June and as of writing, my portfolio is worth £24.60. As you can see in the image, my portfolio has been rising, and it does go up and down on occasion. It‘s easy to study the trends, but it’s never easy knowing what the stock market will be on the following day.

I have the free account, but a paid account has features like higher interest, the ability to set up an ISA and prevent losses. For the time being I will stick to the free membership as my earnings on this app are smaller than the price of £3 a month.

Great referral scheme

Signing up using this link, you will get a free share of a stock. It’s random and can get you between £3-£200. I managed to get £7 of my free share amd sold it and invested in other stocks. You get a share and I get a share. so far, I’ve not been able to use this referal scheme yet with my friends, but I hope people who read this might be able to try it. With this app, I am starting to find investing fun. I am also interested in trying other investment apps to see which one I can reap the most rewards from.

You can sign up to freetrade here.