Similar to T212, free trade also blocked buying certain shares. In fact they even blocked all US shares. But i haven’t seen any furious investors comments regarding free-trade platform. Is that due to the crowdfunding support? If thats the case why not 212 does the similar option to make customers also part of business?
Freetrade is in-house, they don’t rely on external companies like IB to execute for them. conversely their forums are extremely heavily policed so you would never see the complaints stick around long enough to notice, before one of their admins erases everything and blocks your account
they have banned accounts for so much as asking a question that compares a feature or service of theirs to T212 and other more established brokers. questions are illegal in that community. people have even been banned for asking about something that went wrong inside their FT account…
instead they can blame the external company that handles their FX conversion, so they offload all responsibility while still doing the same thing every other broker and platform ended up doing.
also worth noting, the FreeTrade client-base is quite tiny compared to T212 and other brokers.
Probably because they were quick to post and transparent with the reason.
It’s pretty clear if the FX goes down you can’t trade US stocks so easy to understand and emphasize.
If T212 had made a post that clearly stated this was due to IB and not their decision then they could have won brownie points too.
Unfortunately it was a PR cockup in stating it was to protect customers. And eventually changed to point out it was the intermediary not them.
I saw a bunch of complaints. I imagine plenty of people here opened accounts there and wasted the membership fee in anticipation to buy GME only for them to block all US stocks. If still not visible then it’s just their mods deleting comments as usual
jumped the gun for sure, but with the update from AlexK earlier, not exactly wrong either. it just didn’t sound good to people with a specific mindset.