How does the free share offer work?
- Tap on the Free share button in your app. 🎟
- You refer a friend and once your friend opens their account, completes a W-8BEN form, and funds their account, you’ll both get a free share from Freetrade. 👯
- The stocks will be randomly selected from a list of UK and US stocks, ETFs and investment trusts, with a value of £3 to £200.
- The stock will drop into your General Investment Account. We can’t put it in your ISA or SIPP.
What free share can I get?
The probability is weighted so more expensive shares will be rarer.
Approximately 95% of instruments awarded will have a value between £3 and £10. Approximately 3% of instruments awarded will have a value between £10.01 and £25. The remaining 2% of instruments awarded will have a value between £25.01 and £200 (based on the price of the instruments at the time of awarding).
When will I be able to invite friends?
To be able to refer a friend, you must fund your account and complete a W-8BEN form.
Can I refer more than one friend?
Yes! Use your personal referral link to share Freetrade with as many friends as you like.
Please note though, the maximum number of free shares you can receive in a month is 10. Any referrals you make that exceed this limit will not be ‘carried over', so you won’t be awarded a free share.
Can I share my link on my social channels?
No, this referral programme must only be shared with family and friends and cannot be promoted or shared on public social media channels or forums including, but not limited to, TikTok, Instagram, Facebook, Reddit, YouTube or Twitter. Breaching this term will result in disqualification from the referral programme.
Do I get the same stock as my friend?
Not likely, but possible. Allocating free shares is a completely randomised process.
When will I receive my stock?
You should receive this within 7-10 days. Orders can be rejected for a number of technical reasons, unrelated to Free Share referrals.
If you have been waiting more than 10 days for your free share to arrive, send us an email at freeshare@freetrade.io.
There are certain stocks I don’t want for ethical or personal reasons, can I swap?
We can’t offer swaps at this stage, but you’re free to sell your share.
But remember, if you sell your share, you can’t withdraw the proceeds for 30 days.
Shares are randomly chosen by an algorithm from a selection of approximately 250 instruments in our stock universe. The shares range in value from £3 to £200 (at the time of awarding).
Approximately 95% of instruments awarded will have a value between £3 and £10. Approximately 3% of instruments awarded will have a value between £10.01 and £25. The remaining 2% of instruments awarded will have a value between £25.01 and £200 (based on the price of the instruments at the time of awarding).
Taxes
The entire value of the share when sold may be subject to capital gains tax. You can check the value of each share when issued and/or sold on your portfolio screen.
Tax depends on your personal circumstances and current rules can change. If you are unsure about any tax implications, seek advice from a tax professional.
Free Share Terms & Conditions
Validity of offer from including: 15 January 2022
Last updated: 14 January 2022
Introduction
- 1. Freetrade’s (“Freetrade”, “we”, “us” or “our”) free share referral programme (“Free Share Referral Programme”) is valid from the date mentioned above for a period of twelve (12) calendar months, which we may choose to extend at our full discretion. By taking any actions under the Free Share Referral Programme, you (the Sender or Recipient as defined below) agree to be bound by these Free Share Terms & Conditions (“Referral Terms & Conditions”). These terms are governed by English law.
- 2. Under the Free Share Referral Programme a free share (a “Free Share”) will be awarded to the Sender and the Recipient (both as defined below) who have successfully completed a Referral (as defined below) in accordance with our Referral Terms & Conditions.
- 3. We reserve the right, at our sole discretion, to update these Referral Terms & Conditions at any time. If we make an update, we will post the updated version of the Referral Terms & Conditions on our website here and provide you notice of the update. Continued participation in the Free Share Referral Programme after any update shall mean that you have agreed to the update(s) made by Freetrade.
- 4. The Referral Terms & Conditions are in addition to Freetrade’s Terms and Conditions (as may be updated from time to time) which can be found here (as long as this is not to your detriment). In the event of any conflict between the Referral Terms & Conditions and Freetrade's Terms and Conditions, these Referral Terms & Conditions apply.
- 5. Freetrade may end these Referral Terms & Conditions at any time or may decide to not renew the Referral Terms & Conditions at the end of a validity period by giving you written notice.
Sender's Terms
- 6. This section of the Referral Terms & Conditions apply to existing customers (the “Sender”) who refer Recipients (as defined below) to receive a Free Share. We will consider that a Sender has referred a Recipient to us if: (a) it sends the referral link provided by us (“Referral Link”) via the Freetrade app to the Recipient; and (b) the Recipient uses the Referral Link to successfully sign up to a Freetrade account (a “Referral”).
- 7. A Referral to an existing or previous Freetrade customer will be ineligible for a Free Share. The Sender must be an existing customer of Freetrade at the time of making a Referral.
- 8. Referrals and sharing of Referral Links must not be made through public communications. For example, Referral Links must not be shared on public social media platforms or forums such as posting on Instagram, Tik Tok, Reddit and YouTube (with the exception of the direct messaging services) which may also be a criminal offence under applicable regulation and law.
- 9. A Sender is only permitted to make Referrals to family members and friends. We have complete discretion to assess that a Referral or sharing of a Referral Link is in breach of this condition 8. In the event that we deem a Referral to be in breach of this condition 8, neither the Sender nor the Recipient will be eligible for an award of a Free Share. In addition, if we deem a Referral or the sharing of a Referral Link to be in breach of this condition 8, we may also perform any or all of the actions outlined in condition 23 or 24.
- 10. A Sender can receive no more than ten (10) Free Shares per calendar month. Neither the Sender nor the Recipient will be eligible for a Free Share in respect of Referrals made in excess of this maximum Free Share amount. Referrals that qualify for a Free Share cannot be "carried over" into subsequent months. Referrals are attributed to the month in which the Recipient provides Freetrade with their email address after clicking on the Referral Link.
- 11. The Sender must comply with: (i) the Referral Terms & Conditions; and (ii) the terms and policies of any website or application where a Referral Link is shared. Referral Links may only be used in connection with the Sender’s participation in the Free Share Referral Programme and for no other purpose whatsoever.
- 12. Subject always to conditions 6, 7, 8, 9, 10 and 11, we will only award a Free Share to the Sender if the Recipient has successfully:
(a) Used the Referral Link to become a customer of Freetrade;
(b) Passed all of our onboarding checks;
(c) Completed a W-8BEN form; and
(d) Opened and funded their Freetrade account with a cash amount of not less than £1 (GBP) (“ Minimum Funding Amount”).
- 13. Freetrade reserves the right to increase the Minimum Funding Amount at any time without prior notice.
- 14. The Recipient must: (i) fund his or her Freetrade account in accordance with condition 12; and (ii) be a UK tax resident (as further described in condition 22).
- 15. The Recipient must fund his or her Freetrade account with the Minimum Funding Amount within thirty (30) calendar days of using the Referral Link. The Sender acknowledges that the failure by the Recipient to fund his or her Freetrade account within the foregoing timeframe will result in the Free Share award to lapse for both the Sender and the Recipient.
- 16. If the Recipient closes their account before the Free Share is awarded by Freetrade, neither the Sender or the Recipient will be eligible for a Free Share pursuant to these Referral Terms & Conditions.
- 17. Each Free Share awarded under these Referral Terms & Conditions will be valued between £3 (GBP) and £200 (GBP) at the time of award.
- 18. Subject to the eligibility of the Sender and the Recipient and the requirements outlined under these Referral Terms & Conditions being met by each of the foregoing, each Free Share is a financial instrument which is selected randomly by Freetrade from a pool of instruments we select for our Free Share Referral Programme. The Sender acknowledges that: (a) the probability of each Free Share is weighted so more expensive shares will be rarer; (b) approximate distribution of the value of free shares is available in our Free Share FAQs here. The value of a Free Share means its approximate market value based on the price of the financial instrument at the time of award. The Sender acknowledges that the value of a Free Share may fluctuate, meaning its price may go up or down.
- 19. We will aim to award each Free Share to the Sender within ten (10) business days of a successful Referral such that the requirements outlined in these Referral Terms & Conditions are satisfied by both the Sender and the Recipient (“Sender Award Timeframe”). The Sender acknowledges that Freetrade makes no guarantees whatsoever that each Free Share will be awarded in the Sender Award Timeframe. If the Free Share has not been awarded within the Sender Award Timeframe, the Sender must email freeshare@freetrade.io. For the avoidance of doubt, under no circumstances shall the Sender be entitled to any form of compensation for our failure to award the Free Share within the Sender Award Timeframe.
- 20. The Sender acknowledges that any cash proceeds received by it in connection with its sale of the Free Share can only be withdrawn after thirty (30) calendar days from the award date of the Free Share.
- 21. The Sender acknowledges that employees and contractors of Freetrade are not eligible to be awarded a Free Share in connection with our Free Share Referral Programme.
- 22. For the avoidance of doubt, a Free Share will be awarded to Recipient(s) who are eligible and accepted as a customer by Freetrade. Recipients must be UK tax residents to be eligible. Recipients who are US nationals or dual US nationals who reside in the UK are expressly excluded. We reserve the right to refuse to onboard any prospective Recipients.
- 23. Neither receiving a Free Share nor any of our communications in connection with the Free Share Referral Programme constitute a recommendation by us to buy, sell, exercise any rights in or hold any financial instrument. Under no circumstances does Freetrade provide investment advice and individual investors should make their own decisions on what investments are right for them or seek independent advice.
- 24. The Sender acknowledges that it may be subject to tax implications upon receiving a Free Share. Under no circumstances shall Freetrade be held liable or responsible for any such tax implications.
- 25. We reserve the right to modify, pause, suspend or end: (i) the Free Share Referral Programme, in whole or in part; and (ii) both the Sender and the Recipient’s ability to either participate in the Free Share Referral Programme, at any time without cause, including for any suspected activity we deem to be abusive, fraudulent, or in violation of these Referral Terms & Conditions. In the event that you do not agree with a decision that we make regarding your participation in the Free Share Referral Programme under this condition 25, you can make a complaint to our Customer Service team at freeshare@freetrade.io, where your complaint will be handled in accordance with our complaints order handling procedure.
- 26. In the event that we deem a Referral to be in material breach of these Referral Terms & Conditions, neither the Sender nor the Recipient will be eligible for an award of a Free Share. If we determine a material breach of these Referral Terms & Conditions, we may clawback, sell or cancel or take any other action as permitted under applicable law in respect of any Free Shares or proceeds from Free Shares in the Sender's or Recipient's account that relates to such breach.
