Freetrade, based in London with no commission trading platform
trading platform
In the forex space, a currency trading platform is software offered by brokers to their respective client base, giving them access as traders to the broader market. Most commonly, this mirrors an online interface or a mobile app, complete with order processing tools. Every broker needs one or more trading platforms to cater to different clients. Being the backbone of the company’s offering, the trading platform provides clients with quotes and a selection of tools to trade, real
In the forex space, a currency trading platform is software offered by brokers to their respective client base, giving them access as traders to the broader market. Most commonly, this mirrors an online interface or a mobile app, complete with order processing tools. Every broker needs one or more trading platforms to cater to different clients. Being the backbone of the company’s offering, the trading platform provides clients with quotes and a selection of tools to trade, real
Read this term, ended 2022 with revenues of more than £15.6m, which was a jump of 23.8 per cent. However, its losses grew significantly with the figure reaching £39.7m, compared to the previous year’s loss of £17.1m.
The Companies House filing stated that “the group’s loss for the fiscal year … is due to the high level of costs in the fiscal year.” In fact, its cost of sales jumped to £2.2m from £1.6m and ‘other operating expenses’ to £55.7m from £29.27m.
“The largest increase was in personnel cost,” the filing added. The total number of employees of the company reached more than 300 by March 2022. However, it has significantly reduced the workforce, which decreased to 184 at the end of September 2022.
Other than cutting costs, Freetrade has raised a significant amount of money in the past year. He raised £8 million in a crowdfunding round from 6,869 British and European investors. Two of the company’s institutional shareholders have put £29.3m into a convertible loan note.
Strong metrics
Freetrade is known as ‘Robinhood’ in the UK and Europe due to its commission-free business model, and it offers execution only. Retail
Retail
In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include both beginners and experienced traders. Trading and investing is divided into two categories, retail and institutional. Institutions include investment banks such as JP Morgan or Citibank and global central banks such as the US Federal Reserve and the European Central Bank. However, when we talk about retail trading, we usually refer to forex trading, but there is retail trading
In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include both beginners and experienced traders. Trading and investing is divided into two categories, retail and institutional. Institutions include investment banks such as JP Morgan or Citibank and global central banks such as the US Federal Reserve and the European Central Bank. However, when we talk about retail trading, we usually refer to forex trading, but there is retail trading
Read this termShares are listed on UK, US and European stock exchanges.
The number of registered users on the platform jumped 51 percent last year, to more than 1.33 million from 886,743 at the end of the previous year. The company added, “This growth reflects the impact of strategic investment in marketing activity through our first large-scale out-of-home marketing campaign, as well as continued investment in our highly efficient ‘free’ referral system.”
The company’s new operating license in Sweden allowed the entry of new customers. Now, it plans to expand further into Europe.
The rise in the number of new users in trading activities also contributed. The platform saw net new funding of £598.4m, compared to £552.4m in 2021, over an opening of £897.5m. Moreover, total trading volume on the platform jumped 9 percent to £3.6 billion.
The company highlighted the increase in commercial demand despite the decline in global market indices last year.
“Looking forward to the next financial year, we continue to deliver on our mission of getting everyone to invest… The teams remain dedicated to developing new features and products for the UK and European countries that will enhance Freetrade’s value proposition and add potential revenue streams in a competitive market,” the filing added.
Freetrade, based in London with no commission trading platform
trading platform
In the forex space, a currency trading platform is software offered by brokers to their respective client base, giving them access as traders to the broader market. Most commonly, this mirrors an online interface or a mobile app, complete with order processing tools. Every broker needs one or more trading platforms to cater to different clients. Being the backbone of the company’s offering, the trading platform provides clients with quotes and a selection of tools to trade, real
In the forex space, a currency trading platform is software offered by brokers to their respective client base, giving them access as traders to the broader market. Most commonly, this mirrors an online interface or a mobile app, complete with order processing tools. Every broker needs one or more trading platforms to cater to different clients. Being the backbone of the company’s offering, the trading platform provides clients with quotes and a selection of tools to trade, real
Read this term, ended 2022 with revenues of more than £15.6m, which was a jump of 23.8 per cent. However, its losses grew significantly with the figure reaching £39.7m, compared to the previous year’s loss of £17.1m.
The Companies House filing stated that “the group’s loss for the fiscal year … is due to the high level of costs in the fiscal year.” In fact, its cost of sales jumped to £2.2m from £1.6m and ‘other operating expenses’ to £55.7m from £29.27m.
“The largest increase was in personnel cost,” the filing added. The total number of employees of the company reached more than 300 by March 2022. However, it has significantly reduced the workforce, which decreased to 184 at the end of September 2022.
Other than cutting costs, Freetrade has raised a significant amount of money in the past year. He raised £8 million in a crowdfunding round from 6,869 British and European investors. Two of the company’s institutional shareholders have put £29.3m into a convertible loan note.
Strong metrics
Freetrade is known as ‘Robinhood’ in the UK and Europe due to its commission-free business model, and it offers execution only. Retail
Retail
In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include both beginners and experienced traders. Trading and investing is divided into two categories, retail and institutional. Institutions include investment banks such as JP Morgan or Citibank and global central banks such as the US Federal Reserve and the European Central Bank. However, when we talk about retail trading, we usually refer to forex trading, but there is retail trading
In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include both beginners and experienced traders. Trading and investing is divided into two categories, retail and institutional. Institutions include investment banks such as JP Morgan or Citibank and global central banks such as the US Federal Reserve and the European Central Bank. However, when we talk about retail trading, we usually refer to forex trading, but there is retail trading
Read this termShares are listed on UK, US and European stock exchanges.
The number of registered users on the platform jumped 51 percent last year, to more than 1.33 million from 886,743 at the end of the previous year. The company added, “This growth reflects the impact of strategic investment in marketing activity through our first large-scale out-of-home marketing campaign, as well as continued investment in our highly efficient ‘free’ referral system.”
The company’s new operating license in Sweden allowed the entry of new customers. Now, it plans to expand further into Europe.
The rise in the number of new users contributed further to the trading activities. The platform saw net new funding of £598.4m, compared to £552.4m in 2021, over an opening of £897.5m. Moreover, total trading volume on the platform jumped 9 percent to £3.6 billion.
The company highlighted the increase in commercial demand despite the decline in global market indices last year.
“Looking forward to the next financial year, we continue to deliver on our mission of getting everyone to invest… The teams remain dedicated to developing new features and products for the UK and European countries that will enhance Freetrade’s value proposition and add potential revenue streams in a competitive market,” the filing added.
