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Fineco Bank vs Freetrade 2023

StockBrokers.com

Written by StockBrokers.com

August 03, 2023

Is Fineco Bank better than Freetrade? After scoring the best share dealing accounts across 46 different variables, our analysis finds that Freetrade is better than Fineco Bank. Overall Freetrade is a great platform to help you get to grips with investing. Costs are low, and its user-friendly mobile app offers great investment inspiration. Sophisticated investors, however, may find that other platforms offer a wider range of investment options and tools.

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Compare

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Broker Screenshots Fineco Bank Freetrade
Website Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Overall Rating Fineco Bank Freetrade
Overall Rating 4.5/5 Stars 4.5/5 Stars
Charges & Fees 5/5 Stars 5/5 Stars
Investment Choices 4/5 Stars 4/5 Stars
Mobile App 4/5 Stars 4.5/5 Stars
Website 3.5/5 Stars 3/5 Stars
Ease of Use 3.5/5 Stars 5/5 Stars
Education 3.5/5 Stars 4.5/5 Stars
Review Fineco Bank Review Freetrade Review
Winner check_circle
Investments Fineco Bank Freetrade
ISA info Yes Yes
SIPP info No Yes
Share Trading info Yes No
CFD Trading info Yes No
Funds info Yes No
ETFs info Yes Yes
Bonds - Corporate info Yes No
Bonds - Government (Gilts) info Yes No
Investment Trusts info No Yes
Spread Betting info No No
Crypto Trading info No No
Advisor Services info No No
Trading Fees Fineco Bank Freetrade
Minimum Deposit info £0.0 £1.0
Share Trading: 0-9 Deals/ Month info £2.95 £0
Share Trading: 10-19 Deals/ Month info £2.95 £0
Share Trading: 20+ Deals/ Month info £2.95 £0
5 trades per year (£30k portfolio) info £75 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus)
12 trades per year (£30k portfolio) info £35.4 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus)
36 trades per year (£30k portfolio) info £106.2 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus)
120 trades per year (£30k portfolio) info £354 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus)
3 fund trades per year (£30k portfolio) info £14.75 N/A
Annual Custody Fee: £0 - £250,000 info 0.25% £0, £71.88, £143.88
Annual Custody Fee: £250K-£500K info 0.15% £0, £71.88, £143.88
Annual Custody Fee: £500,000 - £1m info 0.15% £0, £71.88, £143.88
Annual Custody Fee: £1m and over info 0.05% £0, £71.88, £143.88
Bonds - Corporate - Fee info £6.95 N/A
Bonds - Government (Gilts) - Fee info £6.95 N/A
ETFs - Fee info £2.95 £0
Investment Trusts - Fee info N/A £0
Telephone Dealing Fee info N/A N/A
Platforms & Tools Fineco Bank Freetrade
Web Platform info Yes No
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info Yes No
Charting - Indicators / Studies info 22 0
Charting - Drawing Tools info 3 0
Charting - Notes info No No
Charting - Display Corporate Events info Yes No
Charting - Stock Overlays info Yes No
Charting - Index Overlays info Yes No
Research Fineco Bank Freetrade
Research - Shares info Yes Yes
Research - CFDs info No No
Research - Funds info Yes No
Fund Research - Research Reports info No No
Research - ETFs info Yes Yes
Research - Bonds info Yes No
Portfolio Allocation Breakdown info Yes Yes
Education Fineco Bank Freetrade
Education (Share Trading) info No Yes
Education (Funds) info No Yes
Education (Retirement) info No Yes
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Overall Summary Fineco Bank Freetrade
Overall Rating 4.5/5 Stars 4.5/5 Stars
Charges & Fees 5/5 Stars 5/5 Stars
Investment Choices 4/5 Stars 4/5 Stars
Mobile App 4/5 Stars 4.5/5 Stars
Website 3.5/5 Stars 3/5 Stars
Research [DELETED] N/A N/A
Ease of Use 3.5/5 Stars 5/5 Stars
Education 3.5/5 Stars 4.5/5 Stars
Review Fineco Bank Review Freetrade Review
Winner check_circle
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Comparing online share dealing platforms side by side is no small task. For our 2023 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 Fineco Bank and Freetrade.

Fineco Bank vs Freetrade Comparison

For our 2023 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Fineco Bank vs Freetrade.

Is Fineco Bank a good broker?

For the price-conscious trader, FinecoBank is a solid share dealing option with a broad range of investment options; but educational materials and research reports are lacking.

Is Freetrade a good broker?

Overall Freetrade is a great platform to help you get to grips with investing. Costs are low, and its user-friendly mobile app offers great investment inspiration. Sophisticated investors, however, may find that other platforms offer a wider range of investment options and tools.

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 Fineco Bank 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 - Fineco Bank would cost £75 per year, while Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year.

12 trades per year - Fineco Bank would cost £35.4 per year, while Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year.

36 trades per year - Fineco Bank would cost £106.2 per year, while Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year.

120 trades per year - Fineco Bank would cost £354 per year, while Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year.

3 fund trades per year - Fineco Bank would cost £0.0 per year, while Freetrade would cost £1.0 per year.

How do Fineco Bank and Freetrade compare in terms of minimum deposits required?

Fineco Bank requires a minimum deposit of £0.0, while Freetrade requires a minimum deposit of £1.0. From our testing we found for accounts between £0 - £250,000 Fineco Bank charges annual custody fees of 0.25%, while Freetrade charges annual custody fees of £0, £71.88, £143.88.

Which broker offers a wider range of investment options?

Fineco Bank offers investors access to ISA, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate and Bonds - Government (Gilts), while Freetrade offers investors access to ISA, SIPP, ETFs and Investment Trusts. Neither have 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 Fineco Bank and Freetrade 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 Fineco Bank offers traders access to ISA accounts, while Freetrade offers traders access to SIPP and ISA accounts.

Do Fineco Bank and Freetrade 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 Fineco Bank nor Freetrade offer crypto investing.

Which broker offers a better website experience?

Our testing concluded that the website of Freetrade is better than the website of Fineco Bank. Freetrade offers more functionality, is cleanly designed, and is, overall, easier to use for beginners and casual investors.

Which stock trading app is better?

To compare the trading platforms of both Fineco Bank and Freetrade, we tested each broker's stock trading app. All features compared, our analysis finds that Freetrade offers a better mobile app. Dive deeper: Best Stock Trading Apps UK.

Do Fineco Bank and Freetrade 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 Fineco Bank offers traders access to Client Webinars and Client Webinars (Archived), while Freetrade offers access to Education (Share Trading), Education (Funds) and Education (Retirement).

Overall winner: Freetrade

Read Next: Best UK Trading Platforms 2023


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