Written by StockBrokers.com
In this head to head comparison of Freetrade vs IG, 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 IG 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 IG would cost £136 per year.
12 trades per year - Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while IG would cost £96 per year.
36 trades per year - Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while IG would cost £108 per year.
120 trades per year - Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while IG would cost £360 per year.
3 fund trades per year - Freetrade would cost £1 per year, while IG 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.
When weighing your options between Freetrade and IG, it’s clear that both online brokers have their strengths and limitations. For standard share trading, both platforms are evenly matched, offering ample opportunities for investors. However, when it comes to ETFs and investment trusts, Freetrade provides access, mirroring IG's offerings. Yet, IG takes a slight edge by additionally featuring CFD trading, which is absent from Freetrade’s offerings, making it more versatile for those interested in diverse trading strategies.
Neither broker offers crypto trading, spread betting, funds trading, or bond trading, maintaining a straightforward focus on their available asset types. According to UK.StockBrokers.com, while Freetrade receives a solid 4-star rating for investment choices, it ranks 13th out of 18 brokers, whereas IG achieves a slightly higher 4.5-star rating, landing it in 10th place. For investors weighing their options, the subtle differences in investment offerings and rankings might sway the choice depending on specific trading preferences.
| Feature |
Freetrade
|
IG
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | No | Yes |
| ETFs | Yes | Yes |
| Funds | No | No |
| Bonds - Government (Gilts) | No | No |
| Investment Trusts | Yes | Yes |
| Spread Betting | No | Yes |
| Crypto Trading | No | No |
| Advisor Services | No | No |
| Investment Choices |
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Professional’s Gateway to the World’s Markets.
Low-cost US and UK shares.
When comparing the trading tools provided by Freetrade and IG, distinct differences arise. IG stands out with its ability to display corporate events such as earnings, splits, and dividends directly on charts, a feature not available with Freetrade. Moreover, IG offers an extensive array of 19 drawing tools and 33 technical indicators to enhance chart functionalities, while Freetrade does not provide these capabilities. Both platforms allow for browser-based trading and offer features like stock price alerts and real-time market data, but only IG permits adding notes to charts, showing its comprehensive approach to user experience.
Neither Freetrade nor IG supports the addition of stock or index overlays on charts, maintaining a level playing field in this regard. Although Freetrade delivers on essential trading platform features, those seeking robust charting tools and detailed analysis might find IG's offerings more aligned with their needs. Overall, while both platforms facilitate straightforward trading, IG provides richer support for traders interested in advanced charting and technical analysis, potentially elevating an investor's strategic capabilities in dynamic market conditions.
| Feature |
Freetrade
|
IG
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 0 | 33 |
| Charting - Drawing Tools | 0 | 19 |
| Charting - Notes | No | Yes |
| Charting - Display Corporate Events | No | Yes |
| Charting - Stock Overlays | No | No |
| Charting - Index Overlays | No | No |
When considering online brokers for retirement accounts, both Freetrade and IG offer Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), making them solid choices for UK-based investors. Freetrade provides an easy-to-use platform well-suited for beginners looking to manage their ISAs and SIPPs with a straightforward interface. Similarly, IG caters to investors with a range of trading tools, offering robust options for those managing their ISAs and SIPPs. Both brokers deliver essential retirement account services, allowing investors to select based on personal preferences for user experience and platform features.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
When choosing between online brokers Freetrade and IG, both offer robust mobile app experiences for iPhone and Android users. Freetrade's app is rated 4 out of 5 stars by UK.StockBrokers.com, while IG's app scores a higher 5-star rating. In terms of rankings out of 18 brokers for mobile apps, Freetrade holds the #8 position, whereas IG takes a slightly better spot at #6, making IG the top choice for those prioritizing a premium mobile trading experience.
Dive deeper: Best Stock Trading Apps UK.
When comparing Freetrade and IG for beginner investor educational resources, IG stands out for offering live educational webinars that are also archived for on-demand viewing, while Freetrade lacks this feature. Both platforms provide resources on share trading, but Freetrade includes additional educational content on funds, which IG does not cover. Both brokers offer retirement education. According to UK.StockBrokers.com, IG receives a higher beginner education rating of 5 stars compared to Freetrade's 3.5 stars, and is ranked 7th among 18 brokers, slightly ahead of Freetrade's 9th place. Overall, IG provides a more robust educational offering for novice investors, especially with its webinar options.
| Feature |
Freetrade
|
IG
|
|---|---|---|
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Education (Share Trading) | Yes | Yes |
| Education (Funds) | Yes | No |
| Education (Retirement) | Yes | Yes |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
When comparing the market research features of Freetrade and IG, several key differences emerge. IG stands out by offering research reports for funds and CFDs research, while Freetrade does not. However, Freetrade enables users to view their portfolio allocation by asset class, a feature IG lacks. Both platforms provide research on shares and ETFs, but neither offers research for bonds or funds. This makes Freetrade a solid choice for those focused on portfolio visibility and basic market research, whereas IG provides a broader spectrum of research reports, particularly beneficial for those interested in CFDs and comprehensive fund analysis.
| Feature |
Freetrade
|
IG
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | No | Yes |
| Research - ETFs | Yes | Yes |
| Research - Bonds | No | No |
| Research - Funds | No | No |
| Fund Research - Research Reports | No | Yes |
| Portfolio Allocation Breakdown | Yes | No |
Which broker is better overall, Freetrade or IG? 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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IG
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|---|---|---|
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Neither Freetrade nor IG offer cryptocurrency trading, but each platform has unique features that cater to different investing needs, making your choice dependent on factors such as fees, available markets, and user experience.
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0 of 5| Overall Rating | Freetrade | IG | |
|---|---|---|---|
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| Review | Freetrade Review | IG Review | |
| Winner | check_circle |
| Investments | Freetrade | IG | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | Yes | |
| CFD Trading | No | Yes | |
| Funds | No | No | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | No | No | |
| Bonds - Government (Gilts) | No | No | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | No | Yes | |
| Crypto Trading | No | No | |
| Advisor Services | No | No |
| Trading Fees | Freetrade | IG | |
|---|---|---|---|
| Minimum Deposit | £1 | £0 | |
| Share Trading: 0-9 Deals/ Month | £0 | £0-£10 | |
| Share Trading: 10-19 Deals/ Month | £0 | £3 | |
| Share Trading: 20+ Deals/ Month | £0 | £3 | |
| 5 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £136 | |
| 12 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £96 | |
| 36 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £108 | |
| 120 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £360 | |
| 3 fund trades per year (£30k portfolio) | N/A | N/A | |
| Annual Custody Fee: £0 - £250,000 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £0 / £96 | |
| Annual Custody Fee: £250K-£500K | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £0 / £96 | |
| Annual Custody Fee: £500,000 - £1m | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £0 / £96 | |
| Annual Custody Fee: £1m and over | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £0 / £96 | |
| Bonds - Corporate - Fee | N/A | N/A | |
| Bonds - Government (Gilts) - Fee | N/A | N/A | |
| ETFs - Fee | £0 | £0 - £8 | |
| Investment Trusts - Fee | £0 | £0 - £8 | |
| Telephone Dealing Fee | N/A | £50 |
| Broker Screenshots | Freetrade | IG | |
|---|---|---|---|
| Website Gallery (click to expand) |
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| Education Gallery (click to expand) |
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| Platforms & Tools | Freetrade | IG | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 0 | 33 | |
| Charting - Drawing Tools | 0 | 19 | |
| Charting - Notes | No | Yes | |
| Charting - Display Corporate Events | No | Yes | |
| Charting - Stock Overlays | No | No | |
| Charting - Index Overlays | No | No |
| Research | Freetrade | IG | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | No | Yes | |
| Research - Funds | No | No | |
| Fund Research - Research Reports | No | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | No | No | |
| Portfolio Allocation Breakdown | Yes | No |
| Education | Freetrade | IG | |
|---|---|---|---|
| Education (Share Trading) | Yes | Yes | |
| Education (Funds) | Yes | No | |
| Education (Retirement) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes |
| Overall Summary | Freetrade | IG | |
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| Review | Freetrade Review | IG Review | |
| Winner | check_circle |
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