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 provides UK investors with several avenues for trading, including access to share trading, ETFs, and investment trusts. However, it lacks offerings in crypto trading, spread betting, CFD trading, funds trading, corporate bonds, government bonds (gilts), and advisory services. Despite these limitations, Freetrade has earned a respectable 4-star rating from UK.StockBrokers.com for its investment choices, although it ranks 17th out of 21 brokers in the UK.
In contrast, Halifax offers a broader scope for UK investors, with access to share trading, ETFs, funds trading, corporate bonds, government bonds (gilts), and investment trusts. Additionally, Halifax provides advisory services. With a 5-star rating for their investment offerings from UK.StockBrokers.com, Halifax stands out as a more comprehensive choice, achieving the rank of 7th out of 21 brokers in the UK.
| Feature |
Freetrade
|
Halifax
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|---|---|---|
| Share Trading | Yes | |
| CFD Trading | ||
| ETFs | Yes | Yes |
| Funds | Yes | |
| Bonds - Government (Gilts) | Yes | |
| Investment Trusts | Yes | Yes |
| Spread Betting | ||
| Crypto Trading | ||
| Advisor Services | Yes | |
| Investment Choices |
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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
When it comes to trading tools, both Freetrade and Halifax offer some basic features for UK investors, but there are noticeable differences. Neither platform provides the ability to display corporate events like earnings, splits, or dividends on charts. They also do not offer drawing tools or technical indicators for charting, and additional features such as adding notes, index overlays, or stock overlays to charts are not available on either platform. However, both Freetrade and Halifax do provide browser-based trading platforms, which can be advantageous for users who prefer trading on a desktop or laptop.
Freetrade stands out with its provision of real-time market data, which is crucial for investors keeping close tabs on market movements. In contrast, Halifax does not offer this feature. Both platforms allow users to create alerts for stock price updates, helping traders stay informed about price changes. These capabilities make both Freetrade and Halifax viable options for those seeking simple trading experiences, though Freetrade’s real-time data may provide an edge for more active traders who require up-to-the-minute information.
| Feature |
Freetrade
|
Halifax
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 0 | 0 |
| Charting - Drawing Tools | 0 | 0 |
| Charting - Notes | ||
| Charting - Display Corporate Events | ||
| Charting - Stock Overlays | ||
| Charting - Index Overlays |
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 resources, UK readers will find that neither platform currently offers live or archived educational webinars. However, Freetrade provides educational content on share trading, funds, and retirement, making it a more comprehensive option for those topics compared to Halifax, which lacks offerings in these areas. Both brokers have received a 3.5-star rating for beginner education from UK.StockBrokers.com, but Freetrade is ranked slightly higher, securing the 16th spot out of 21 brokers, whereas Halifax is ranked 18th. This suggests that Freetrade might be a better choice for those starting their investment journey, seeking a bit more educational support.
| Feature |
Freetrade
|
Halifax
|
|---|---|---|
| Client Webinars | ||
| Client Webinars (Archived) | ||
| Education (Share Trading) | Yes | |
| Education (Funds) | Yes | |
| Education (Retirement) | Yes | |
| Education |
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|
Dive deeper: Best UK Trading Platforms for Beginners.
When evaluating market research features, Freetrade and Halifax each have their strengths. Freetrade offers insights into portfolio allocation by asset class, along with research on shares and ETFs. On the other hand, Halifax stands out by providing comprehensive research reports for funds and bonds, in addition to its shares and ETFs research capabilities. Both platforms do not offer CFDs research. Depending on your investment strategy, you might find Freetrade suitable for focusing on asset diversification, while Halifax could be ideal for in-depth analysis of traditional funds and bonds.
| Feature |
Freetrade
|
Halifax
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | ||
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | |
| Research - Funds | Yes | |
| Fund Research - Research Reports | ||
| Portfolio Allocation Breakdown | Yes |
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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Freetrade does not offer crypto trading, while Halifax also does not provide options for crypto trading.
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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 | ||
| CFD Trading | |||
| Funds | Yes | ||
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | ||
| Bonds - Government (Gilts) | Yes | ||
| Investment Trusts | Yes | Yes | |
| Spread Betting | |||
| Crypto Trading | |||
| Advisor Services | 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 | |||
| Charting - Display Corporate Events | |||
| Charting - Stock Overlays | |||
| Charting - Index Overlays |
| Research | Freetrade | Halifax | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | |||
| Research - Funds | Yes | ||
| Fund Research - Research Reports | |||
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | ||
| Portfolio Allocation Breakdown | Yes |
| Education | Freetrade | Halifax | |
|---|---|---|---|
| Education (Share Trading) | Yes | ||
| Education (Funds) | Yes | ||
| Education (Retirement) | Yes | ||
| Client Webinars | |||
| Client Webinars (Archived) |
| Overall Summary | Freetrade | Halifax | |
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| Review | Freetrade Review | Halifax Review | |
| Winner | check_circle |
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