Written by StockBrokers.com
In this head to head comparison of Interactive Brokers vs Freetrade, 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, Interactive Brokers offers better pricing than Freetrade 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 - Interactive Brokers would cost £15 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
12 trades per year - Interactive Brokers would cost £36 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
36 trades per year - Interactive Brokers would cost £108 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
120 trades per year - Interactive Brokers would cost £360 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
3 fund trades per year - Interactive Brokers would cost £0 per year, while Freetrade would cost £1 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 comparing the investment options offered by Interactive Brokers and Freetrade, it’s clear that both provide a platform for share and ETF trading while neither allows for crypto or spread betting. However, Interactive Brokers stands out by offering additional investment choices such as CFD trading, funds trading, and trading of both corporate and government bonds. Freetrade, on the other hand, does not provide these options, focusing more on straightforward share and ETF investments. Both platforms enable trading of investment trusts, but neither offers advisor services, keeping their offerings concentrated on direct trading and investment management.
These differences in available investments might explain why Interactive Brokers receives a higher rating of 5 stars from UK.StockBrokers.com for investment choices, compared to Freetrade’s 4-star rating. Additionally, Interactive Brokers is ranked #2 out of 18 brokers for investment choices, while Freetrade lands at #17. For investors seeking a broader spectrum of investment opportunities, Interactive Brokers likely aligns more with their needs, whereas Freetrade may suit those looking for a more focused selection.
| Feature |
Interactive Brokers
|
Freetrade
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | Yes | No |
| ETFs | Yes | Yes |
| Funds | Yes | No |
| Bonds - Government (Gilts) | Yes | No |
| Investment Trusts | Yes | Yes |
| Spread Betting | No | No |
| 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 it comes to trading tools, Interactive Brokers stands out with a robust suite of features that cater to both seasoned and novice traders. Users can enjoy the ability to display corporate events like earnings, splits, and dividends directly on charts, thanks to the 80 drawing tools and 96 technical indicators available for in-depth analysis. Additionally, Interactive Brokers allows traders to add notes, as well as stock and index overlays to charts, offering a personalized and insightful trading experience. Moreover, both Interactive Brokers and Freetrade support browser-based trading platforms and offer stock price alert capabilities, although only Freetrade provides real-time market data.
Contrastingly, Freetrade focuses on simplicity, which might appeal to beginners but could be limiting for more advanced traders. It lacks many of the detailed charting capabilities found in Interactive Brokers, including the absence of drawing tools, technical indicators, and the ability to add notes or overlays to charts. While Freetrade does provide real-time market data, which Interactive Brokers does not, those seeking a comprehensive set of trading tools might find Interactive Brokers to be the better choice. Ultimately, the decision between these two brokers will hinge on individual preferences and trading needs.
| Feature |
Interactive Brokers
|
Freetrade
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 96 | 0 |
| Charting - Drawing Tools | 80 | 0 |
| Charting - Notes | Yes | No |
| Charting - Display Corporate Events | Yes | No |
| Charting - Stock Overlays | Yes | No |
| Charting - Index Overlays | Yes | No |
When comparing online brokers Interactive Brokers and Freetrade, both offer Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), making them appealing for UK investors focusing on tax-efficient investment options. While Interactive Brokers is renowned for its comprehensive trading tools and global market access, Freetrade stands out for its user-friendly interface and commission-free trading. Both platforms provide flexible retirement account options, allowing users to personalize their investment strategies within ISAs and SIPPs. Overall, the choice between Interactive Brokers and Freetrade might come down to whether you prefer an extensive range of features or a simpler, accessible trading experience.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
When comparing the mobile trading apps of Interactive Brokers and Freetrade, both platforms offer robust options for iPhone and Android users. Interactive Brokers' app stands out with a top-tier 5-star rating from UK.StockBrokers.com, reflecting its advanced features and overall user satisfaction. It ranks high at #4 out of 18 brokers for mobile app performance. In contrast, Freetrade, while offering solid functionality and a user-friendly experience, holds a commendable 4-star rating and is positioned at #12. Both apps cater to traders' needs on-the-go, but Interactive Brokers leads in critical app rankings and reviews.
Dive deeper: Best Stock Trading Apps UK.
When it comes to educational resources for beginner investors, Interactive Brokers and Freetrade offer varying levels of support. Interactive Brokers provides live educational webinars that are also archived for on-demand access, whereas Freetrade does not offer this feature. Both brokers offer education on key investment topics such as share trading, funds, and retirement planning. However, Interactive Brokers is rated higher for beginner education by UK.StockBrokers.com, receiving a 4.5-star rating compared to Freetrade's 3.5 stars. In terms of ranking among 18 brokers, Interactive Brokers holds the 8th spot, while Freetrade is positioned at 16th. This makes Interactive Brokers a more comprehensive option for beginners seeking robust educational support.
| Feature |
Interactive Brokers
|
Freetrade
|
|---|---|---|
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Education (Share Trading) | Yes | Yes |
| Education (Funds) | Yes | Yes |
| Education (Retirement) | Yes | Yes |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
In the realm of market research features, Interactive Brokers offers a comprehensive suite compared to Freetrade. Interactive Brokers provides robust resources with research reports for funds, shares, ETFs, CFDs, and bonds, whereas Freetrade trails behind, lacking reports for funds, CFDs, and bonds. Both platforms allow users to view portfolio allocation by asset class and offer research on shares and ETFs, but if you’re seeking detailed insights across a wider range of investment products, Interactive Brokers stands out as the more resource-rich option.
| Feature |
Interactive Brokers
|
Freetrade
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | No |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | No |
| Research - Funds | Yes | No |
| Fund Research - Research Reports | Yes | No |
| Portfolio Allocation Breakdown | Yes | Yes |
Which broker is better overall, Interactive Brokers or Freetrade? After collecting more than 900 data points over a 10-week period, we found Interactive Brokers to be a better trading platform overall.
Interactive Brokers is a sophisticated trading platform aimed at confident and institutional-grade investors. For newer investors, Interactive Brokers is more intimidating, though it's worth exploring the platform to see if you could save money or access more investments compared to other brokers.
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Freetrade
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In comparing online brokers Interactive Brokers and Freetrade, neither platform currently offers crypto trading options for their users.
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0 of 5| Overall Rating | Interactive Brokers | Freetrade | |
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| Review | Interactive Brokers Review | Freetrade Review | |
| Winner | check_circle |
| Investments | Interactive Brokers | Freetrade | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | Yes | |
| CFD Trading | Yes | No | |
| Funds | Yes | No | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | No | |
| Bonds - Government (Gilts) | Yes | No | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | No | No | |
| Crypto Trading | Yes | No | |
| Advisor Services | No | No |
| Trading Fees | Interactive Brokers | Freetrade | |
|---|---|---|---|
| Minimum Deposit | £0 | £1 | |
| Share Trading: 0-9 Deals/ Month | £3 | £0 | |
| Share Trading: 10-19 Deals/ Month | £3 | £0 | |
| Share Trading: 20+ Deals/ Month | £3 | £0 | |
| 5 trades per year (£30k portfolio) | £15 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| 12 trades per year (£30k portfolio) | £36 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| 36 trades per year (£30k portfolio) | £108 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| 120 trades per year (£30k portfolio) | £360 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| 3 fund trades per year (£30k portfolio) | £0 / £14.85 | N/A | |
| Annual Custody Fee: £0 - £250,000 | £0 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Annual Custody Fee: £250K-£500K | £0 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Annual Custody Fee: £500,000 - £1m | £0 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Annual Custody Fee: £1m and over | £0 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Bonds - Corporate - Fee | 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) | N/A | |
| Bonds - Government (Gilts) - Fee | 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) | N/A | |
| ETFs - Fee | £3 | £0 | |
| Investment Trusts - Fee | N/A | £0 | |
| Telephone Dealing Fee | £25 | N/A |
| Broker Screenshots | Interactive Brokers | Freetrade | |
|---|---|---|---|
| Website Gallery (click to expand) |
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| Platforms & Tools | Interactive Brokers | Freetrade | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 96 | 0 | |
| Charting - Drawing Tools | 80 | 0 | |
| Charting - Notes | Yes | No | |
| Charting - Display Corporate Events | Yes | No | |
| Charting - Stock Overlays | Yes | No | |
| Charting - Index Overlays | Yes | No |
| Research | Interactive Brokers | Freetrade | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | No | |
| Research - Funds | Yes | No | |
| Fund Research - Research Reports | Yes | No | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | No | |
| Portfolio Allocation Breakdown | Yes | Yes |
| Education | Interactive Brokers | Freetrade | |
|---|---|---|---|
| Education (Share Trading) | Yes | Yes | |
| Education (Funds) | Yes | Yes | |
| Education (Retirement) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No |
| Overall Summary | Interactive Brokers | Freetrade | |
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| Review | Interactive Brokers Review | Freetrade Review | |
| Winner | check_circle |
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