Exciting news — we currently have our application under review with the Financial Conduct Authority (FCA) to become a directly authorised stockbroker. Pending approval, Freetrade will launch as a fully-fledged financial institution. 🎉
The authorisation is something we’ve been working on in the background, and it has a number of benefits for our users:
The main reason we are able to do this is that our Crowdcube campaign a few months ago got overfunded by a whopping 360% to £1.1 million. The raise provided more capital than expected, which we decided to invest directly into the platform. If you are an investor, that’s our Freetrade way to say, “We love you!” ❤️
In the interim, we are retaining our current FCA permissions as an appointed representative.
We’ll release the Freetrade private beta app later this year. If you haven’t already requested access or know anyone that may be interested, please share a link to this article or request an invite.