Use Orca Referral Code: BD2B3 – for Free Stock up to £200

Get started investing with Orca with a free share worth up to £200:

Use Orca Referral Code: BD2B3

Or visit via my referral link: https://orca.app/rBD2B3

Orca is a new UK investing app that allows you to invest in a fairly limited number of 250+ stocks, bonds and EFTs available on the London Stock Markets.

Currently, they are only offering UK stocks although the intention is to add US stocks and other investments in time.  This is typical of new investment apps on the scene, they start small and gradually expand.

 

Orca Investment App Referral Code

Disclaimer: If you use my refer a friend link I will also receive a reward at no extra cost to you.  Thank you if you use it as it helps me continue building the site.

Orca Referral Code for Free Share: BD2B3

For new customers, Orca will give you a free stock worth up to £200.

To claim your free stock simply follow these step by step instructions:

  • Download the app using this Orca referral link.
  • Register new account
  • Confirm not a US person
  • Check the T&C’s
  • Verify I.D
  • Deposit £10
  • Choose 3 stocks to invest a minimum of £1 in
  • Claim free share via scratchcard
  • The free stock wil be in your portfolio within 3 days
  • Wait 30 days until you can see your free stock

To qualify you need to make a top-up and you’ll have to make 3 trades to qualify for the free stock.  The 3 trades need to be for 3 different assets.

Currently, Orca offers 3 fee-free trades on UK stocks and ETF which is ideal for taking advantage of the sign up off.

After the first 3 trades, there is a £1 trading fee, this means you will incur £3 in selling fees at some point should you wish to sell each asset, £3 in selling fees.

However, Orca is working on the process of turning off the fees for UK stocks and ETFs.

Therefore, just signing up for the free stock alone it’s questionable as to whether it’s worthwhile but some people do.

If you are interested in testing out the app, you may as well consider qualifying for the free share, which could be worth up to £200.

To make it easier to find the cheapest individual stocks Orca has a featured list of UK shares under £1 each.

Shares Under £1

 

Claim Your Free Stock Scratchcard:

Once you qualify for your free stock you will be given a scratchcard within the app:

Simply rub over the scratch card to reveal the free stock you have won.

Orca Free Stock Scratchcard

 

Invite Friends

Once you are signed up you too can benefit from the Orca free stock referral programme by inviting your own friends and family.  For each successful invite, you will receive another free share.

Free shares can be sold after 30 days or you can hold onto them and build your own diverse portfolio.

 

Orca Refer a Friend
Use Orca Referral Code: BD2B3

 

Orca Investment App

Orca is nicely geared towards beginners.  You see question mark signs (?) next to certain terms, which you can click and get a definition of any particular jargon you may not yet currently understand.   The app also includes various tutorials to help educate and teach you how to invest.

The app provides some basic info on each stock and if you like your dividends the app also lets you see the ex-dividend dates for stocks which is handy.

While a new app, we can expect more features to be added over time.

Orca ISA

Orca offers a free ISA and even has an ISA support to answer any of your related questions if you are looking to open or possible move your ISA to Orca

Is the Orca App Safe?

Orca is authorised and regulated by the Financial Services Authority.

As an investor you are covered by the FSCS protection will cover your funds up to £85,000.

Orca Fees

Orca charges a £1 fee per trade, however at the time of writing was offering 3 fee-free trades and has plans for fee-free trading on UK stocks.

When an investing app charges a fee, it’s important to consider the cost of the fee in relation to the value of your trade, because overtime fees can significantly eat into your investment returns.

A £1 fee is 1% of £100 trade.  Generally, consider being wary of anything higher than 1% of your trade value because the fees will then massively eat into your investment returns over the long term.

While it’s a charge it’s relatively low compared to many other online platforms, there are now other fee-free alternatives, some of which also offer free shares if you haven’t claimed, including:

Related Post: How to claim free stocks and shares worth £100’s 

Orca buy trades are carried out instantly.  This may be a key selling point for some customers over the investment app options that have a time lag in relation to when they confirm the purchase.

Orca App Features

The Orca app has some interesting key features.

Trailing Stops

Orca offers trailing stops if you want to protect any investment gains you can set the trailing stop which is a handy feature for those who like to protect their gains.

Collections of Stocks 

Orca offers collections of stocks that you can invest in.  You can browse these collections and choose to invest and you’ll effectively be investing in every stock in the collection.  It’s an interesting way to invest in a diversified selection of stocks.

24-hour Customer Service

Orca supposedly has 24-hour customer support, although I haven’t personally tested this out of market trading hours.

However, they have provided very prompt replies when I have contacted them during trading hours.

The customer support service is easy to access via the speech bubble image in the main base menu of the app.

Selling Stock

It’s worth noting when you sell a stock the funds will be classed as unsettled for 48 hours.  This means you won’t be able to use those funds to purchase new stocks until funds are settled.

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