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Trading and investing apps have seen a surge in popularity in recent months, thanks to ‘GameStop Gate’ and an increase in the number of people wanting to make money from home. If you’d like to start investing, commission-free apps can provide you with an accessible and affordable entry into the stock market.
Freetrade is one of a handful of apps making it easier for people to invest in the stock market without having lots of fees. And if you sign up using my referral link, you and I will each earn a free share worth up to £200.
Read on to find out more.
How to get your free share at Freetrade?
Opening a Freetrade account is extremely easy and I managed to do it within a matter of minutes, all from my phone. Here’s what you need to do:
- Click this referral link
- Enter your email.
- Download the Freetrade app from the App Store or Google Play.
- Once you’ve completed the account setup process, you’ll be asked to complete a W-8BEN form which will allow you to invest in US stocks (don’t worry - this isn’t as complicated as it sounds and takes seconds)
- You’ll then be asked to top up your account with a small amount
Once you’ve completed the above steps, you’ll get a notification to say your free share is on its way. The share itself should land in your account within a couple of weeks.
How is your free share selected?
Your shares are randomly selected from around 90 stocks available on Freetrade’s platform. The value of the share will range from £3 up to £200.
The person referring Freetrade and the person they refer won’t necessarily receive the same share. One person might receive a £25 share but the other could receive a £120 one.
Is it worth sticking with Freetrade once I’ve received my free share?
If you’re interested in learning how to invest but you want to avoid paying any fees, a trading app like Freetrade could be an ideal option. You could start out by watching how your free share performs and playing around with the app. Alternatively, you could buy a few stocks yourself and build your own portfolio. Don’t worry if you don’t have hundreds of pounds to drop on Apple or Facebook stocks. It’s possible to buy much cheaper shares and, thanks to Freetrade’s fractional shares offering, you might also choose to buy a percentage of a share. For example, you could buy 25% of a share at Nike for the price of a meal in a restaurant.
Remember: don’t invest money you can’t afford to lose. While investing can be a great way to grow your money and build wealth in the long term, the stock market is risky and there’s no guarantee you’ll get out what you put in.
Can I diversify my portfolio with Freetrade?
Yes! It’s possible to build a diverse portfolio with the help of trading apps like Freetrade. The worst thing you can do is pour all your money into one stock. Instead, it’s often a good idea to spread your money across a few different companies so you’re better protected. It can also be wise to buy stocks from different markets and a diverse range of industries. Don’t just invest in tech stocks, for example!
Not only does Freetrade allow users to invest in individual stocks, it also allows users to purchase Exchange Traded Funds (ETFs) too. ETFs tend to be ideal for beginners and much safer than picking individual stocks.
Freetrade has plenty of resources on its website to help beginners learn about ETFs, trusts, REITS, and lots of other investing terms you might not be familiar with.
What else do I need to know?
Here are some more details from Freetrade’s terms and conditions…
You need to be a new Freetrade customer to receive a free share through its referral scheme.
Free shares are only gifted when you onboard, fund your account and used your referral pass to sign up. Basically, if you download the app and create an account without using a referral link, you won’t receive a free share.
If you decide to sell your free share, you will be able to withdraw its value as cash 30 days after you were awarded the share.
You must fund your account within 30 days of using the Freetrade referral link.
The Freetrade referral offer only applies to UK tax residents only.
To get your free share worth up to £200, use this referral link today. It takes just a matter of minutes to get started and you might strike lucky by winning a BIG free share.
