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 cater to investors in the UK with differing investment options tailored to diverse strategies. Freetrade makes a mark by offering share trading and ETFs, alongside investment trusts, giving a straightforward choice for those focused on these areas. Halifax, on the other hand, provides a broader spectrum of investment options, including the trading of funds, corporate bonds, and government bonds (gilts), while also offering advisory services to guide investors. Both platforms include ETF and investment trust trading, although neither engages in crypto or CFD trading.
When it comes to expert reviews, Freetrade receives a commendable 4-star rating from UK.StockBrokers.com, reflecting its focused range of offerings, but stands at the 17th position out of 21 brokers for investment choices. Conversely, Halifax receives a higher 5-star rating and is ranked 7th, showcasing its extensive selection and flexible investment choices. Although both have their strengths, Halifax edges out with more comprehensive services for those seeking a wide array of investment products.
| 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.
When comparing the mobile app options of Freetrade and Halifax, both online brokers offer iPhone and Android apps for convenient trading on the go. However, Freetrade's mobile app edges slightly ahead with a four-star rating from UK.StockBrokers.com, placing it 12th out of 21 brokers for mobile app performance. In contrast, Halifax's mobile app receives a 3.5-star rating, ranking it 18th in the same list. This suggests that Freetrade may provide a slightly better mobile experience compared to Halifax, based on user reviews and rankings, making it a consideration for those prioritizing mobile trading features.
Dive deeper: Best Stock Trading Apps UK.
When comparing Freetrade and Halifax for beginner investor education, both brokers fall short on offering webinars, either live or on-demand, leaving users without this form of interactive learning. However, Freetrade provides educational resources on share trading, funds, and retirement, whereas Halifax does not. Both platforms receive a modest 3.5 out of 5 stars from UK.StockBrokers.com in terms of supporting new investors. In overall rankings by the same source, Freetrade holds a slightly better position at 16th out of 21 brokers, compared to Halifax, which ranks 18th, suggesting that Freetrade may offer slightly more comprehensive educational resources for those starting 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
|
|---|---|---|
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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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