Why We Are Becoming a Directly Authorised Stockbroker

Freetrade Team

July 5, 2017

Freetrade Team

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. 🎉

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We are building a new kind of stock broker company, from the ground up.

The authorisation is something we’ve been working on in the background, and it has a number of benefits for our users:

  • Freetrade will own the relationship with its clients. We’ll be the only contracting party with you as our customer.
  • By removing a layer of intermediation, we’ll significantly lower our brokerage costs. The savings (you probably guessed it) will be passed on to you.
  • Last but not least, we’ll fully control the user experience, from onboarding to executing trades, and all other aspects of your investments.

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.

Join the waitlist

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.

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