Comparing online share dealing platforms side by side is no small task. For our 2022 review of U.K. brokers, nearly 600 data points were collected over a 10-week period and used to score each broker. Let’s compare Freetrade and CMC Invest.
Freetrade vs CMC Invest Comparison
For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Freetrade vs CMC Invest.
Is Freetrade a good broker?
Freetrade's commission-free model allows trading of fractional shares with a user-friendly mobile trading app, and the educational offering is of good quality. Research and range of investments are limited, however, and its online trading platform is still in beta and not available to all customers.
Is CMC Invest a good broker?
CMC Invest offers commission-free trading of U.K.-listed shares and U.S. equities via a mobile app only. Though a newer entrant to the U.K. share dealing market and currently somewhat limited, it’s powered by global contender CMC Markets, making it likely that its offerings will expand.
Which broker is less expensive?
Alongside the cost per trade, most UK online brokers also charge a monthly, quarterly, or annual management fee, which varies based on the account type and balance. Based on our thorough review, Freetrade offers better pricing than CMC Invest for share dealing.
Assuming a £30,000 portfolio size, here are the total annual costs for share dealing with both brokers, given different monthly activity scenarios.
5 trades per year - Freetrade would cost N/A per year, while CMC Invest would cost £0 per year.
12 trades per year - Freetrade would cost £0 per year, while CMC Invest would cost £0 per year.
36 trades per year - Freetrade would cost £0 per year, while CMC Invest would cost £0 per year.
120 trades per year - Freetrade would cost £0 per year, while CMC Invest would cost £0 per year.
3 fund trades per year - Freetrade would cost £0.0 per year, while CMC Invest would cost £0.0 per year.
How do Freetrade and CMC Invest compare in terms of minimum deposits required?
Freetrade requires a minimum deposit of £0.0, while CMC Invest requires a minimum deposit of £0.0. From our testing we found for accounts between £0 - £250,000 Freetrade charges annual custody fees of £0, while CMC Invest charges annual custody fees of 0.
Which broker offers a wider range of investment options?
Freetrade offers investors access to ISA, SIPP, Share Trading, ETFs and Investment Trusts, while CMC Invest offers investors access to ISA, Share Trading, Funds, ETFs and Investment Trusts. Neither have CFD Trading, Bonds - Corporate, Bonds - Government (Gilts), Spread Betting, Crypto Trading and Advisor Services. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.
Do Freetrade and CMC Invest offer ISA or SIPP accounts?
Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that Freetrade offers traders access to SIPP and ISA accounts, while CMC Invest offers traders access to ISA accounts.
Do Freetrade and CMC Invest offer cryptocurrency?
In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that neither Freetrade and CMC Invest offer crypto investing.
Which broker offers better research?
Our testing concluded that CMC Invest is better for research than Freetrade. CMC Invest offers more research options, including research reports, articles, and analyst ratings.
Which trading platform is better?
To compare the trading platforms of both Freetrade and CMC Invest, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, our analysis finds that Freetrade offers a better share dealing platform and Freetrade offers a better stock app for mobile trading.
Do Freetrade and CMC Invest offer educational resources?
Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that Freetrade offers traders access to Education (Share Trading) and Education (Retirement), while CMC Invest offers access to Education (Share Trading). Neither have Client Webinars, Client Webinars (Archived) and Education (Funds).
Overall winner: Freetrade
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