Freetrade celebrates 1 million UK users as trading platform plans to roll out in Europe

Rick Steves

Freetrade will soon be launching in Sweden as the trading platform begins to roll out across Europe in 2022.

Freetrade has registered its one-millionth user in the UK. The milestone for the company is indicative of its fast growth and success.

Freetrade currently ranks as the second-largest retail broker, by number of trades, on the London Stock Exchange.

Freetrade has recently launched its premium membership, Freetrade Plus, and its low fixed cost SIPP, Freetrade Pension.

Since 2020, the investment platform increased its employee headcount more than 4 times to over 200 staff and expanded the choice of investments to over 5,000 stocks, ETFs and investment trusts.

Freetrade also opened offices in Brisbane (Australia), Stockholm (Sweden), and Vancouver (Canada), as it added several new features for clients, including fractional shares, an insights tab, instant deposits, and live pricing.

Adam Dodds, Founder and Chief Executive Officer, said: “This is a key milestone in our journey to get everyone investing. I’m proud about the dedicated work shown by everyone on our team and, above all else, I’m reminded daily about how lucky we are to have such a passionate and supportive community behind us. As we head towards the end of the year, we’re continuing to accelerate our growth across Europe and beyond.”

Freetrade will soon be launching in Sweden as the trading platform begins to roll out across Europe in 2022.

Its European expansion is being fueled by three recently appointed executives: Karl Broomé, Managing Director for Sweden, as well as non-executive directors Annica Lundblad and Torbjörn Ericsson.

Freetrade has made a series of key hires following a successful Series B funding round led by New York-based growth fund, Left Lane Capital.

The commission-free investment app raised $69 million from leading names such as L Catterton and Draper Esprit in order to grow its business across the globe. Freetrade currently serves over 600,000 registered users in the United Kingdom.

Freetrade is authorized and regulated by the UK Financial Conduct Authority (FCA) and is a member of the London Stock Exchange. All Freetrade accounts are covered by the Financial Services Compensation Scheme (FSCS).

Founder and CEO Adam Dodds launched the firm after relocating from Canada as a Manager at KPMG.

In late 2020, the commission-free investment application Freetrade announced that Plus members will receive 3% interest on uninvested cash, up to £4,000.

This exciting feature on Freetrade’s premium subscription has a rate of interest well above the industry average of 0% offered on general investment and ISA accounts by major retail brokers in the UK. Interest will be calculated on cash balances on a daily basis and will be paid monthly.


Read this next

Industry News

Celsius $750m insurance claims are fraud, says lawyer seeking EU crypto superfund

“It is an intentional deception in aid of a billion-dollar securities offering.”

Institutional FX

DGCX brokers authorized to provide derivatives trading and clearing services

The DFM is looking to provide multiple asset classes such as; equities, ETFs, equities’ futures, crude oil futures, etc. to meet the growing demand from its diversified base of local and international investors.

Digital Assets

EQONEX leaves “crowded crypto exchange space” amid crypto winter

“The recent extreme market volatility and declining trading volumes have added to the headwinds being felt by exchange operators. We take a realistic view that our exchange will not move the needle for us financially over the near-to-medium term.”

Digital Assets

FTX and Paradigm partner for spreads trading: lower risk, lower fees

“This structured spread trading product is the first that will enable crypto investors to utilize cash and carry trades through FTX and Paradigm.”

Industry News

SEC uncovers online retail brokerage hacking scheme

Fraudsters were able to sell their holdings at artificially high prices and reap more than $1 million in illicit proceeds, the SEC alleged. 

Executive Moves

Cornerstone FS taps James Hickman as CEO

“I see great potential in the business from its proprietary technology to its regulatory permissions. It is already delivering an exceptional service to its SME customers and the scalable platform is ideally positioned to add further product capability.”

Retail FX

FCA warns of Lite Forex Pro as crackdown on clone scams continues

The UK Financial Conduct Authority has put out a press release that warns about a new ‘clone firm’ investment scam impersonating LiteForex‎, which rebranded last year as LiteFinance.

Digital Assets

Novogratz’s Galaxy Digital backs out of $1.2 billion deal to buy BitGo

Crypto merchant bank Galaxy Digital would not move forward with its bid to buy digital-asset custodian BitGo.

Executive Moves

OctaFX elevates Nikolas Charalampous to executive director role

OctaFX has promoted its head of dealing, Nikolas Charalampous, to the role of executive director, which saw the expansion of his day-to-day responsibilities and oversight.