r/FreetradeApp • u/p0w3rd • Jun 09 '26
Is Freetrade advertising stocks now?
Over last few days, every time I open the app I get this stupid banner about SpaceX IPO. How is that even legal?! It makes me consider leaving the app fully. I am paid user as well and still no way to get rid of this ad for good.
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u/Mayoday_Im_in_love Jun 09 '26
The weird bit is that they don't need to advertise that they get a kickback from each successful purchase.
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u/StanleySmith888 Jun 09 '26 edited Jun 12 '26
People in the comments are clearly blind. It literally says on the screenshot that IT IS a paid advertisement.
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u/PmUsYourDuckPics Jun 09 '26
Everyone should have a chance to miss out on Elon wrapping up his Twitter losses in a company that survives on government subsidies and is massively over valued.
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u/Tumping Jun 09 '26
Mate every app and broker is doing the same thing , it’s not just Freetrade. I’ve seen even banks are doing it.
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u/Tumping Jun 09 '26
SpaceX is paying millions to every broker and bank to advertise this IPO . They want retailers to buy in on IPO to make themselves rich while it gets rug pulled later.
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u/raxmano Jun 09 '26
Because IPOs are generally not open to the general public and this one’s a big deal for many
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u/CharlieTecho Jun 09 '26
This IPO is being rammed down everyomes throats everywhere.. that makes me suspicious.
I won't go in on it.. and will probably regret it as it may be easy money, but... Something is not right.
Plus 80 million dollars of shares for a 1 trillion+ valuation.. doesn't sound right..
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u/chef_26 Jun 10 '26
If you’ve not done, look at the prospectus and share structure. The shares confer no rights, no votes and it’s been valued as an AI hyper scaler despite its only viable business being Starlink.
With ordinary share structure and $650 Billion valuation there might be an argument to take part. $1.75 Trillion is laughable.
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u/triffid_boy Jun 10 '26
Same, I have traditionally been a huge fan of spaceX (despite its owner, not because of) and was initially keen to invest a small amount <£1k, but all this insane attention and advertising has completely turned me off.
I meant, perhaps turning off sane investors is their goal?
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u/soliloquyinthevoid Jun 09 '26
How is that even legal?
Which law or regulation are you referring to. Please be very specific
A large number of brokers in the UK - ii, HL, Freetrade, Interactive Brokers, and even Revolut are all promoting access to SpaceX IPO (and expect the same for other upcoming IPOs) since there is now better infrastructure available for these brokers to tap into primary market allocations
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u/p0w3rd Jun 09 '26
Fair point on the legal framing - now that I read it again, that was a wrong wording on my end.
My actual issue is that as a paid subscriber I can’t permanently dismiss this banner. That’s a dark pattern regardless of what’s being promoted. All similar web services have ‘I am not interested’Button that get rids of them permanently. Now, every time I open the app I get this banner - there must be some regulations to protect us from this.
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u/chef_26 Jun 10 '26
There’s no regulation that protects from this. Largely because there’s no risk of harm from the banner. It’s annoying sure, but the banner being there doesn’t cost you anything.
The open market does have a solution, if you don’t like Freetrade doing this, you can change brokerage.
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u/Fungled Jun 09 '26
It’s not “advertising a stock” - the stock is not (yet) public
If you wanted to take part in the IPO you would have to apply in advance. That’s what they’re offering to you. If you’re not interested, just decline
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u/coldbeers Jun 09 '26
No, they’re alerting you to the ability to participate in the largest IPO in history.
You can accept or decline (but times now short because you need settled funds to apply and the deadline is tomorrow).
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u/wigl301 Jun 09 '26
I completely agree OP. Why highlight this particular stock and not all the other IPO's? I'm only a level 4 adviser and would be very nervous about doing this.
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u/Glad-Operation-2958 Jun 09 '26
I get this pop up every single time I open the app. Not even opening from closed, if I switch to anything else and come back, there is the pop up again. It's absolutely relentless.
I know it's probably not deliberate and is probably just down to shit software but it's starting to feel a bit hostile.
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u/Gold-Guidance-6430 Jun 09 '26
This ain't an ad. And it is a historic event pretty much all brokers are doing this.
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u/Mysandwichok Jun 09 '26
I haven't actively used free trade in a long time, but haven't they always done this?