The news: The UK-based digital trading platform announced it has reached the milestone of £1 billion ($1.28 billion) AUA after passing the 1 million user mark last month, per AltFi.
What’s behind the growth? Freetrade established itself as one of the dominant UK retail brokerages.
Freetrade sought to consolidate its stellar growth through a series of new initiatives over the past year. It rolled out its premium offering, moved into pensions, and struck up a partnership with Monzo.
Looking ahead: As global retail trading volumes slow down, European trading platforms will race against each other to spread across markets and become the first to scoop up users.
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