What's up you guys, sasha here over the last few days, a lot of people have had a lot of really bad things to say about pretty much, every single investing platform and app out there, myself included, but among all of that noise among all of that dirt And among all of the negativity that's been happening in the markets, one company seems to have come through in a completely different way. One company has decided to go and do things very differently to everybody else, and because of that, i really wanted to go and make this video hats off to free trade. Over the last few weeks, you see some really bad and really ugly things crawl out from the deep dark depths of the world of investing vlad tenef. Who is the ceo of robin hood came out on the day when everything was blowing up on cnn on cnbc and began trying to explain that robin hood is out there to protect their customers to protect their customers from risk and basically just making up complete lies.

Basically saying stuff that was incorrect, that was untrue. This is a ceo of a major company that millions of people used to go and make investments the very next day when there was a massive public outcry about the fact that he lied about the fact that the information that they're putting out there is just simply Not true, it's simply not the reasons why they were making certain decisions. They went and completely changed their story. Once again, it wasn't said that the actual reasons why they had to suspend only buy orders on certain stocks, including gme and amc, etc, was because the requirements from nscc on the deposit that they would had to make on those trades went up by an order of Something like 10 times and the company just didn't have enough.

Money literally didn't have enough dollars to actually put up against those trades, but that wasn't a liquidity problem, because a liquidity problem is something different. You see a liquidity problem is when you don't have enough money to carry out your activities as a company, whereas in this case all that happened robinhood was they didn't, have enough money to carry out their basic activities anyway. It did also come out that a bunch of people who are literally invested and in some form of control over what robin hood does are very closely related to said hedge funds, who would benefit from robin hood, making certain types of decisions, obviously in a completely coincidental Way - and there was absolutely no causality in that whatsoever, but anyway enough about all of that dirt enough about all that muck, because amongst all of that happening with lots and lots of big trading platforms out there and decisions being made, such as to restrict people's ability To go, buy particular stocks, but continue enabling people to sell, because that would drive prices down, and there are some people who needed to buy stocks at that point in time outside. All of that there was one company who just went down a completely different path and that company was free trade.

So here is what happened with free trades during this exact period during the exact same couple of weeks, during the time when there was massive volatility in the markets and lots of crazy stuff going down now as a way of disclaimer, i don't work for free trade, So i don't know what actually maybe was going down. I am basing this on my experience as a customer, my experience as somebody who engages with the company a lot on my experience of how these guys have been communicating with their customers and with the public. More generally and all the statements and all information they've been putting out through all of these mediums. First, when things were really blowing up on thursday 28th of january on free trade, literally, nothing was happening.

Free trade continued being able to go and buy and sell different kinds of stocks. There was no restrictions on buy orders. There was no restrictions on what you could and couldn't buy as a customer, because they weren't forcing your hand for some unknown reason and that continued for a day until the next morning, on friday, the 29th of january free trade had to go and suspend all u.s Trading and immediately the company went and explained exactly why and they didn't do what everyone else did they didn't just restrict buying they didn't just they halted all us trading and in absolute terms, you could still sell and buy in very small volumes if you were lucky Enough but generally the platform wasn't available, and here is why that happened, because free trade operates in pounds and other european currencies and not in us dollars the company that they use to exchange money during the process of trading. So, whenever you're buying stuff in dollars the company they used to actually go and convert the money or convert it back, went and limited the number of transactions the free trade was able to put through them and not just by a little bit by 20 times.

They went from being able to process thousands and thousands of transactions, in short periods of time, to only being able to practice process a small fraction of it and as a result, because the customer base was so big. They literally physically couldn't process those transactions. But, unlike everybody else, they literally went and made that announcement at the moment it happened. Now they didn't have any time to fix things for january, because this happened literally just before the us markets were to open.

You might think it is somewhat suspicious that a company that has the ability to prevent a trading platform from being able to trade in u.s stocks when that trading platform the day before refused to do what everyone else was doing in limiting buy orders, etc. You'd think that would be somewhat suspicious, but those suspicions are completely unfounded and there's probably no basis to them whatsoever as to why that happened and who exactly influenced that decision. And why would a company that was making a lot of money from free trade for processing those transactions just go and magically limit the number that they could process? We shall never know the answer to this, and it probably is not influenced in any way by any. Third party, but this is what happened so what did free trade do about this? First, the ceo of the business, the platform itself through a notification and other people who work for free trade immediately said sorry to their customers.

They literally went out and said, look guys. This is really bad. We acknowledge it's really bad, and this really sucks - and this is exactly what happened. This is a big departure from pretty much every other approach taken by other companies.

They then went and refunded an entire month's worth of the plus account fee, which is their paid version of their account, because they felt that those customers weren't getting fair value for that deal. And then, after doing that, they once said about working the entire company working over the entirety of the weekend to go and make this right and right they did by monday. By the time the trading came about on a monday, they actually went and fixed the problem. They went and completely changed the entire process of how those transactions were executed.

They went and tested it on monday morning and then they announced that it was ready to go and trading on monday resumed. This is unbelievable for a large enterprise-grade kind of platform like this, which would process huge volumes of transactions with a huge number of customers on it. It is unprecedented to go and do something like this of this magnitude in the sort of time frame that they did. I can't believe that they went and managed to do it and given the fact that things were playing against them, they went and found a different provider went and switched all their payment rails.

I i find this incredible, and that is another reason why i'm making this video in the same time frame just like with most other investing apps, because this was been on the news so much their customer numbers were exploding, but did they go and try to restrict That did they go and set higher minimum deposit numbers, or did they go and stop new customers from being able to onboard full stop like some of the other platforms did? No, they didn't, they literally went and let anyone who wanted to go and create an account. Go and create an account, and not only that, but because the volume of customer queries rose so much because new people were joining and weren't sure how to use it or had problems or had issues with their deposits. Every single person who was working in the company, literally by their admission from their finance manager to the graphic designer to whoever else, would literally be manning the actual messaging and the communication with customers to go and help them solve their queries. This is something that again just shows the values of the company and shows exactly where they stand, and during this entire period the company was putting out frequent updates and not only that, but the ceo of the business and the cmo of the business we're both publicly Making statements we're both updating it to exactly what was happening exactly what was going on exactly what they were working on, so that people could know so that their customers could be aware, and so that there was transparency.

I i really appreciate it and i think that again is really quite unprecedented. They even posted their exact map of how the company works, which specific companies they work with, which companies are responsible for which parts of their overall process, and not only that, but they on tuesday, following up from message that they published a little bit earlier on tuesday. They went and said that they are not big fans of hedge funds. You see hedge funds haven't got the message yet because in their opinion, going and approaching companies through third parties like free trade and they're literally buying their trade data, so basically paying them to have access to all the trades that their customers are making.

So they can understand what the patterns are looking like and what sort of things are the customers buying and why and when and make analyses in the back of that see buying information about your competitors, like other investors and then being able to use that in order To game and manipulate your own trading and the markets by doing that, that is completely legal right. That is absolutely okay, and nobody should have any problems with that, because that is in no way wrong. In the middle of this ridiculous, unprecedented situation over the last two weeks, they went one step further. They went and launched their sip accounts.

I talked about them yesterday in a video where i explained how amazing that particular account is, and they went and did that despite everything else that was going on because they wanted to go and get it out to people. I just don't know how they found the time, i'm not sure how they did it, i'm not sure why they didn't postpone it, because most people probably would but they didn't. They went and launched them anyway, and the best thing is the company actually raises their funds from their customers. The company has gone out to raise money for the business through crowdfunding and even if you go and look at official documentation official paperwork, the only person who owns more than 25 of the business is a certain mr adam dodds, aka dodzi, the ceo of the company, Free trade do have a long way to go.

There's still a lot of gremlins a lot of things. I don't like about the platform a lot of things that they need to improve and i'm sure they're going to be working to improve them, but over this period of time boy, oh boy, did they play it at the park? I i i think credit is should be given where credit is due. I i think free trade have really put a blinder out there and if they continue working like they are, if they continue along this path, i think they're going to go a really long way. If you guys agree make sure you leave a comment below, if you don't also leave a comment below, if you enjoyed this video, please go and smash the like button future algorithm.

Thank you very much for watching and i'll see you guys later.