Written by StockBrokers.com
In this head to head comparison of Freetrade vs Halifax, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
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 Halifax 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 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while Halifax would cost £83.50 per year.
12 trades per year - Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while Halifax would cost £150 per year.
36 trades per year - Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while Halifax would cost £378 per year.
120 trades per year - Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while Halifax would cost £1,176 per year.
3 fund trades per year - Freetrade would cost £1 per year, while Halifax would cost £0 per year.
What type of trader are you?
New to the world of investing? See our picks for the Best UK Trading Platforms for Beginners. More experienced traders should read our guide to the Best UK Trading Platforms for Active Traders.
Freetrade and Halifax offer distinct investment choices that cater to different types of investors in the UK. Freetrade allows users to trade shares, exchange-traded funds (ETFs), and investment trusts. However, its offerings do not include crypto trading, spread betting, CFD trading, funds trading, or any bond trading. In contrast, Halifax offers a broader range of options, such as ETFs, funds, corporate bonds, government bonds, and investment trusts, along with advisor services to guide your investment decisions.
When it comes to investment choices, Freetrade earns a rating of four out of five stars from UK.StockBrokers.com, placing it 17th out of 18 brokers. On the other hand, Halifax secures a five-star rating and is ranked 7th, highlighting its diverse range of investment options. Choosing between the two will depend on your investment priorities, whether you seek specific investment types or comprehensive services and guidance.
| Feature |
Freetrade
|
Halifax
|
|---|---|---|
| Share Trading | Yes | No |
| CFD Trading | No | No |
| ETFs | Yes | Yes |
| Funds | No | Yes |
| Bonds - Government (Gilts) | No | Yes |
| Investment Trusts | Yes | Yes |
| Spread Betting | No | No |
| Crypto Trading | No | No |
| Advisor Services | No | Yes |
| Investment Choices |
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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
When comparing Freetrade and Halifax for trading tools, both platforms present a similar level of basic functionality but also share some limitations. Neither platform allows users to display corporate events like earnings, stock splits, or dividends directly on their charts. Furthermore, both Freetrade and Halifax do not offer any drawing tools or technical indicators, making them less appealing for traders who rely heavily on in-depth chart analysis. The ability to add notes, index overlays, or stock overlays to charts is also absent from both platforms, leaving traders looking for these features wanting more.
However, both Freetrade and Halifax cater to digital-focused investors by providing browser-based trading platforms, which enable straightforward access and management of portfolios. In addition, both support the creation of alerts for stock price updates to keep investors informed of market movements. A notable distinction is Freetrade’s provision of real-time market data, whereas Halifax lacks this feature, which could be a crucial factor for those who prioritise immediate access to market information.
| Feature |
Freetrade
|
Halifax
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 0 | 0 |
| Charting - Drawing Tools | 0 | 0 |
| Charting - Notes | No | No |
| Charting - Display Corporate Events | No | No |
| Charting - Stock Overlays | No | No |
| Charting - Index Overlays | No | No |
When comparing online broker Freetrade to Halifax for UK retirement accounts, both platforms offer Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), making them appealing choices for those seeking flexibility in their retirement savings. Freetrade, known for its user-friendly interface and straightforward fee structure, targets tech-savvy individuals who prefer an app-centric experience. On the other hand, Halifax provides a more traditional approach with in-branch services and comprehensive financial advice, which can be advantageous for those who value personal interactions and a broader range of banking services. Whether you prioritize ease of use with Freetrade or the comprehensive offerings of Halifax, both providers cater to varied investor needs, ensuring a straightforward path toward retirement savings.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
For UK investors seeking convenient trading through mobile apps, both Freetrade and Halifax offer solutions for iPhone and Android users. Freetrade's mobile app receives a higher rating from UK.StockBrokers.com, earning 4 out of 5 stars, compared to Halifax's 3.5-star rating. Furthermore, when ranked among 18 brokers for mobile app quality, Freetrade is positioned at 12th place, making it a more favorable choice than Halifax, which ranks at 18th. Whether you prioritize app functionality or ease of use, Freetrade presents a slightly superior option for mobile trading enthusiasts.
Dive deeper: Best Stock Trading Apps UK.
For new investors in the UK seeking educational resources from online brokers, Freetrade and Halifax offer different levels of support. While neither provides educational webinars or recorded sessions, Freetrade distinguishes itself by offering educational resources on share trading, funds, and retirement, unlike Halifax, which does not cover these topics. Both brokers earn a 3.5-star rating from UK.StockBrokers.com for their beginner education, yet Freetrade ranks slightly higher at 16th place out of 18, compared to Halifax's position at 18th. Despite similar ratings, Freetrade’s focus on diverse educational content may appeal more to those embarking on their investment journey.
| Feature |
Freetrade
|
Halifax
|
|---|---|---|
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Education (Share Trading) | Yes | No |
| Education (Funds) | Yes | No |
| Education (Retirement) | Yes | No |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
When comparing the market research features of Freetrade and Halifax, UK investors may find key differences based on their needs. Both platforms provide access to shares and ETFs research, catering to those keen on equities and diversified funds. However, Freetrade differentiates itself with the ability to view portfolio allocations by asset class, a feature that Halifax lacks. For those interested in funds, Halifax extends its research offerings, unlike Freetrade. Additionally, Halifax offers bonds research, which is absent from Freetrade's tools. Neither platform supports research for CFDs or provides research reports specifically for funds.
| Feature |
Freetrade
|
Halifax
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | No | No |
| Research - ETFs | Yes | Yes |
| Research - Bonds | No | Yes |
| Research - Funds | No | Yes |
| Fund Research - Research Reports | No | No |
| Portfolio Allocation Breakdown | Yes | No |
Which broker is better overall, Freetrade or Halifax? After collecting more than 900 data points over a 10-week period, we found Freetrade to be a better trading platform overall.
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.
| Feature |
Freetrade
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Halifax
|
|---|---|---|
| Overall Rating |
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| Charges & Fees |
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| Mobile App |
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Both online broker Freetrade and Halifax do not offer crypto trading options, making them similar in this particular feature for investors seeking cryptocurrency trading capabilities.
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0 of 5| Overall Rating | Freetrade | Halifax | |
|---|---|---|---|
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| Review | Freetrade Review | Halifax Review | |
| Winner | check_circle |
| Investments | Freetrade | Halifax | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | No | |
| CFD Trading | No | No | |
| Funds | No | Yes | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | No | Yes | |
| Bonds - Government (Gilts) | No | Yes | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | No | No | |
| Crypto Trading | No | No | |
| Advisor Services | No | Yes |
| Trading Fees | Freetrade | Halifax | |
|---|---|---|---|
| Minimum Deposit | £1 | £0 | |
| Share Trading: 0-9 Deals/ Month | £0 | £9.50 | |
| Share Trading: 10-19 Deals/ Month | £0 | £9.50 | |
| Share Trading: 20+ Deals/ Month | £0 | £9.50 | |
| 5 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £83.50 | |
| 12 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £150 | |
| 36 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £378 | |
| 120 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £1,176 | |
| 3 fund trades per year (£30k portfolio) | N/A | £64.50 | |
| Annual Custody Fee: £0 - £250,000 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £36 | |
| Annual Custody Fee: £250K-£500K | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £36 | |
| Annual Custody Fee: £500,000 - £1m | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £36 | |
| Annual Custody Fee: £1m and over | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £36 | |
| Bonds - Corporate - Fee | N/A | £9.5 | |
| Bonds - Government (Gilts) - Fee | N/A | £9.5 | |
| ETFs - Fee | £0 | £9.5 | |
| Investment Trusts - Fee | £0 | £9.5 | |
| Telephone Dealing Fee | N/A | £25 |
| Broker Screenshots | Freetrade | Halifax | |
|---|---|---|---|
| Website Gallery (click to expand) |
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| Mobile Trading Apps Gallery (click to expand) |
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| Education Gallery (click to expand) |
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| Platforms & Tools | Freetrade | Halifax | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 0 | 0 | |
| Charting - Drawing Tools | 0 | 0 | |
| Charting - Notes | No | No | |
| Charting - Display Corporate Events | No | No | |
| Charting - Stock Overlays | No | No | |
| Charting - Index Overlays | No | No |
| Research | Freetrade | Halifax | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | No | No | |
| Research - Funds | No | Yes | |
| Fund Research - Research Reports | No | No | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | No | Yes | |
| Portfolio Allocation Breakdown | Yes | No |
| Education | Freetrade | Halifax | |
|---|---|---|---|
| Education (Share Trading) | Yes | No | |
| Education (Funds) | Yes | No | |
| Education (Retirement) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No |
| Overall Summary | Freetrade | Halifax | |
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| Review | Freetrade Review | Halifax Review | |
| Winner | check_circle |
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