FAQs and terms & conditions
FAQs:
How does this promotion work?
Opt-in to transfer your account from Stake between the 1 October 2024 and 13 November 2024 and get a £10 - £100 free share.
How it works if you are new to Freetrade:
- Ensure you have opted-in to transfer your Stake account from the link shared directly from Stake
- Create a Freetrade account using the same email address as you have used with Stake
- If you are transferring a value of less than $100, you must have topped up at least £50 to your Freetrade account by the 13th of November
- Fill out a W-8BEN form
- You will receive your £10 - £100 free share with 10 days of your Stake account being transferred to Freetrade
How it works if you are an existing Freetrade customer
- Ensure you have opted-in to transfer your Stake account from the link shared directly from Stake
- If you are a value of less than $100, you must have topped up at least £50 to your Freetrade account by the 13th of November
- Ensure your W-8BEN is up to date
- You will receive your £10 - £100 free share with 10 days of your Stake account being transferred to Freetrade
Important
- In order to receive a free share you must have a valid W-8BEN form.
- If you transfer out or withdraw any amount from your Freetrade Account that would cause its value to fall below the Minimum Funding Amount before we make the Award to you, you will not qualify for the £10 - £100 free share.
- Any cash proceeds received from the sale of the free shares can only be withdrawn 180 calendar days from the date the free share is awarded.
- If your transferred value is less than $100 you will need to top up £50 to qualify.
Can I participate in this promotion?
To be eligible for a free share you must be a Stake customer and have opted-in to transfer your account from Stake to Freetrade.
You must have followed the opt-in process provided in Stake’s initial email and filled in all required forms.
What is a W-8BEN form?
Filling out a W-8BEN form is required to buy US stocks in the app. It is a declaration that you are not a US tax resident. Dividends issued by US companies will incur a 15% tax at source, rather than the standard 30%.
What free shares will I receive?
Free shares are randomly selected from a list of US and UK companies, ETFs, and trusts. Each free share will be valued between £10 - £100.
The probability is weighted, so more expensive shares will be rarer. The below table shows the average probability distribution of free shares for this offer.
Do I have to pay taxes on free shares?
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 account screen.
Tax depends on your personal circumstances and rules can change. If you are unsure about any tax implications, seek advice from a tax professional.
Have a question? Email freeshare@freetrade.io.
Terms & Conditions:
Stake Opt-in Offer Terms and Conditions
Validity Period
1 October 2024 to 13 November 2024
Introduction
1. Freetrade Limited’s (“Freetrade”, “we”, “us” or “our”) Stake Opt-in Offer Campaign (“Opt-in Offer Campaign”) is offered subject to these Stake Opt-in Offer Terms & Conditions (“Opt-in Offer Terms & Conditions”). By taking any actions under the Opt-in Offer Campaign, you agree to be bound by these Opt-in Offer Terms & Conditions. These Opt-in Offer Terms & Conditions are governed by English law.
2. Under the Opt-in Offer Campaign, a free share (a “Free Share”) will be awarded to a relevant UK customer who has successfully opted-in to transfer their account from HelloStake Limited (“Stake”) to Freetrade, as set out in these Opt-in Offer Terms & Conditions. In these Opt-in Offer Terms & Conditions, the award of the Free Share is referred to as the “Award”.
3. The Opt-in Offer Campaign will be valid for the Validity Period, unless we extend that period. We may withdraw or amend these Opt-in Offer Terms & Conditions to the extent that the withdrawal or amendment is not to your detriment, by updating them on our website.
4. Any Stake account which is opted-in and transferred to Freetrade will be subject to Freetrade’s Terms and Conditions which can be found here. “Freetrade Account” has the meaning given in those terms.
How you qualify for an Award
5. In order to qualify for an Award, you must be a UK customer of Stake at the start of the Validity Period and have opted-in to transfer your Stake account using the link shared by Stake and completed all the required items as part of that process and either:
(a) be a new Freetrade customer who has opened a Freetrade Account after the start of the Validity Period using the same e-mail address as used with Stake; or
(b) be an existing Freetrade customer at the start of the Validity Period; and
(c) in either case:
(i) meet the Minimum Funding Requirement as described at section 6;
(ii) have passed all of our onboarding checks;
(iii) be a UK tax resident; and
(iv) have completed a W-8BEN form.
6. Minimum funding requirement
The “Minimum Funding Requirement” for this offer is that the total value of your cash and investments being transferred from Stake to Freetrade is either:
(a) At least $100 (USD); or
(b) Less than $100 (USD) and you have topped-up your Freetrade Account by at least £50 (GBP) before the end of the Validity Period.
Value of the Award
7. At the time of the Award under these Opt-in Offer Terms & Conditions, each Free Share will have a value between £10 (GBP) and £100 (GBP).
8. The value of a Free Share means its approximate market value based on the price of the financial instrument at the time of the Award. You acknowledge that the value of a Free Share may go up or down over time.
9. Each Free Share is a financial instrument which is picked randomly by us from a pool of instruments we select for our Opt-in Offer Campaign. The selection is made such that:
(a) the probability of each Free Share is weighted so more expensive shares will be rarer; and
(b) the below table shows the approximate distribution of free shares for this offer.
Making the Award
10. We will use our best endeavours to make any Award for which you have qualified under section 5 above, within ten (10) business days of the date on which your Stake account is transferred to Freetrade. We expect that the transfer will happen at around the end of the Validity Period. If the Award has not been made within this timeframe, you should email freeshare@freetrade.io.
11. If you transfer out or withdraw any amount from your Freetrade Account that would cause its value to fall below the Minimum Funding Amount before we make the Award to you, you will not qualify for the Award.
12. Employees and contractors of Freetrade are not eligible to take part in the Opt-in Offer Campaign.
13. We may refuse to make an Award if we reasonably consider that you have engaged in activity we deem to be abusive, fraudulent, or that is in violation of these Opt-in Offer Terms & Conditions or the Account Terms and Conditions.
14. If you seek to transfer out the Free Share or any cash proceeds received as a result of the sale of the Free Share within one hundred and eighty (180) calendar days from the date of the Award then we may clawback, sell or cancel any relevant Free Share awarded to that person or sell any other shares held by us for that person and/or deduct cash from their Freetrade account of an equivalent value to the Free Share, as permitted under applicable law.
Tax implications
15. Freetrade does not give tax advice or take account of your individual tax position. You are responsible for understanding your own tax position in relation to your Freetrade account(s) and the Award.
No advice
16. Neither the making of an Award nor any of our communications in connection with the Opt-in Offer Campaign 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.
Complaints
17. If you have a complaint in respect of the Opt-in Offer Campaign, you should contact our Customer Service team at freeshare@freetrade.io, where your complaint will be handled in accordance with our complaints order handling procedure.
