FAQs
How does the Summer Free Share Offer work?
We have reduced the minimum funding amount (MFA) to £10 for referrals to be eligible for a free share!
Between 2 June 2023 and 2 August 2023, successful referrals (as defined below) with a minimum funding amount (MFA) of £10 will result in a free share worth at least £10 and up to £100 for both the Sender and Recipient.
Who is eligible to refer to a friend under the Summer Free Share Offer?
Our Summer Free Share Offer is open to current Freetrade customers who have:
- Passed on-boarding checks,
- Filled the W-8BEN form (so you can trade US stocks), and
- Met a net minimum funding amount of at least £10.
Net funding is calculated as deposits minus withdrawals.
How do I refer a friend?
- Tap on the Free share button in your app 🎟
- Send your unique referral link to a friend.
- Your friend opens their account between 2 June 2023 and 2 August 2023, passes on-boarding checks, fills a W-8BEN form and funds their account with at least £10 within 30 days of opening their account.
- Once you both qualify, you’ll both see your free share pending.
- Your free share will be revealed and dropped into your General Investment Account (GIA) usually within 7-10 days.
Important
- To be eligible for the Summer Free Share Offer as a Referrer, you must have funded your Freetrade account with at least £10 (net).
- If your friend withdraws from their account and falls below the £10 net funding amount before the free share is awarded, the referral will be deemed unsuccessful and you won’t qualify for the £10-100 free share.
- Net funding is calculated as deposits minus withdrawals.
- Any cash proceeds received from the sale of the free shares can only be withdrawn 180 calendar days after the date the free share is awarded.
What kind of free share can I get?
Free shares are randomly selected from a list of interesting US and UK companies, ETFs, and trusts. Each free share will be valued up to £100.
The probability is weighted, so more expensive shares will be rarer. The below table shows the average probability distribution of free shares.
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Will I get the same share as my friend?
Not likely, but it’s possible. Allocating free shares is a completely randomised process.
There are certain shares I don’t want for ethical or personal reasons, can I swap?
We can’t offer swaps, but you’re free to sell your share.
Bear in mind the free share or any cash proceeds received in connection with its sale can only be withdrawn after 180 calendar days from the award date. Breaching this term will result in you having to repay the value of the free share.
When will I receive my free share?
Your free share will show as pending as soon as your friend completes their required steps. It will be revealed usually within 7-10 days of you qualifying.
If your free share takes longer to be revealed, let us know at freeshare@freetrade.io.
Can I share my link with more than one person?
Yes! Share your unique referral link with as many friends as you’d like. Bear in mind, the maximum number of free shares you can receive per calendar month is 10, which includes awards under any other Freetrade campaigns. 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 your referrals being voided and disqualification from the referral programme.
Do I have to pay taxes on free shares?
The entire value of the share when sold may be subject to capital gains tax (CGT). You can check the value of each share when issued and/or sold on your portfolio 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 questions? Email us at freeshare@freetrade.io.
Terms and Conditions
Validity period
0:01 on 2 June 2023 until 23:59 on 2 August 2023
Introduction
1. Freetrade Limited’s (“Freetrade”, “we”, “us” or “our”) Summer 2023 free share referral campaign (“Summer 2023 Free Share Referral Campaign”) is offered subject to these Free Share Referral Terms & Conditions (“Referral Terms & Conditions”). By taking any actions under the Free Share Referral Campaign, you agree to be bound by these Referral Terms & Conditions. These Referral Terms & Conditions are governed by English law.
2. Under the Summer 2023 Free Share Referral Campaign a free share (a “Free Share”) will be awarded to a relevant Sender and Recipient who have together successfully completed a Valid Referral in accordance with these Referral Terms & Conditions. In these Referral Terms & Conditions, the award of the Free Share is referred to as the “Award”.
3. The Summer 2023 Free Share Referral Campaign will be valid for the Validity Period above, unless we extend that period. We may withdraw or amend these Referral Terms & Conditions to the extent that the withdrawal or amendment is not to your detriment, by updating them on our website.
4. Any Freetrade account opened will be subject to Freetrade’s Terms and Conditions which can be found here.
Making a valid referral
5. A “Valid Referral” occurs when all of the steps in (a)-(c) below have been completed:
(a) the Sender sends the referral link provided by us (“Referral Link”) via the Freetrade app to a Recipient;
(b) the Recipient uses the Referral Link to successfully sign up to a Freetrade account; and
(c) the Recipient provides us with the Sender’s email address when prompted to do so.
6. A referral which has met the criteria at (a) - (c) above ceases to be a Valid Referral if the Sender or the Recipient stops meeting any of their eligibility criteria set out at section 9 or section 11 below before the date of the Award.
7. 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). You must comply with 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 Summer 2023 Free Share Referral Campaign and for no other purpose whatsoever.
How a Sender qualifies for an Award
8. In order to qualify for an Award, a person making a referral (a “Sender”) must:
(a) meet the eligibility criteria in section 9; and
(b) have made a Valid Referral to a Recipient who meets the eligibility criteria in section 11.
9. The Sender’s eligibility criteria are that they:
(a) are an existing customer of Freetrade;
(b) have passed all of our onboarding checks;
(c) are a UK tax resident;
(d) have completed a W-8BEN form;
(e) have a tradeable value of not less than £10 in their Freetrade account(s) in aggregate for the duration of the Validity Period and they have not made a transfer or withdrawal that causes the tradable value to fall below £10 before the date of the Award; and
(f) have received no more than ten (10) Free Shares in a calendar month in which the Recipient completes the Valid Referral steps at section 5(b) and (c) including awards under any other Freetrade campaign.
How a Recipient qualifies for an Award
10. In order to qualify for an Award, a person receiving a referral (a “Recipient”) must:
(a) meet the eligibility criteria in section 11; and
(b) have received and completed a Valid Referral from a Sender who meets the eligibility criteria in section 9.
11. The Recipient’s eligibility criteria are that they:
(a) are a family member or a friend of the Sender;
(b) are not an existing or previous customer at the time they receive the Referral Link;
(c) have used the Referral Link to become a customer of Freetrade and have opened a Freetrade account;
(d) have passed all of our onboarding checks;
(e) are a UK tax resident;
(f) have completed a W-8BEN form; and
(g) have a tradable value of not less than £10 in their Freetrade account(s) in aggregate within thirty (30) calendar days of using the Referral Link and thereafter they have not made a transfer or withdrawal that causes the tradable value to fall below £10 before the date of the Award.
Value of the Award
12. At the time of the Award under these Referral Terms & Conditions, each Free Share will have a value between £10 (GBP) and £100 (GBP).
13. 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. The Sender acknowledges that the value of a Free Share may go up or down over time.
14. Each Free Share is a financial instrument which is picked randomly by us from a pool of instruments we select for our Summer 2023 Free Share Referral 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 approximate distribution of the value of Free Shares is available here (see section entitled ‘What kind of free share can I get?’ in the Free Share FAQs).
Making the Award
15. We will use our best endeavours to make any Award within twenty-eight (28) business days of a Valid Referral first occurring under section 5 (a) - (c) above, provided that the relevant referral remains a Valid Referral on that date. If the Award has not been made within this timeframe, you should email freeshare@freetrade.io.
16. Employees and contractors of Freetrade may make a referral in accordance with these Referral Terms and Conditions, but they will not be eligible for a Free Share Award in connection with our Summer 2023 Free Share Referral Campaign.
17. We may refuse to make an Award if we reasonably consider that the Sender and/or the Recipient have engaged in activity we deem to be abusive, fraudulent, or in violation of these Referral Terms & Conditions.
18. If a Sender or Recipient seeks 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
19. 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
20. Neither the making of an Award nor any of our communications in connection with the Summer 2023 Free Share Referral 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
21. If you have a complaint in respect of the Summer 2023 Free Share Referral 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.
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