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.
Interactive Brokers and Freetrade both cater to investors in the UK with their appealing breadth of investment choices, though they differ significantly in what they offer. Interactive Brokers excels by providing a comprehensive range of options, including share and crypto trading, ETFs, CFDs, funds, and both corporate and government bonds, alongside investment trusts. Freetrade, on the other hand, remains simpler, offering share trading, ETFs, and investment trusts, but does not support crypto, CFD trading, or bond investments. This contrast underscores Interactive Brokers' extensive offerings, which have earned it a 5-star rating and the #2 rank for investment choices according to UK.StockBrokers.com, compared to Freetrade's 4-star rating and #17 rank.
While neither Interactive Brokers nor Freetrade offer spread betting or advisor services, the breadth of investment options tilts the scale in favor of Interactive Brokers for those seeking a wide array of trading opportunities. For UK investors who prioritize a broad spectrum of assets in their portfolios, Interactive Brokers emerges as a more versatile and highly-ranked choice. Freetrade's more streamlined service might appeal to those who prefer a straightforward, user-friendly platform without the complexity of additional trading instruments.
| 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 | Yes | 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 of Interactive Brokers and Freetrade, UK traders might find Interactive Brokers offers a more comprehensive suite of features. Interactive Brokers supports advanced chart displays with corporate events like earnings and dividends and provides 80 drawing tools and 96 technical indicators for more detailed analysis. The platform also allows adding notes, index overlays, and stock overlays directly onto charts, delivering a robust interface for strategic trading. In contrast, Freetrade does not include these chart features or drawing and technical tools, potentially limiting the depth of market analysis available to the trader.
Both brokers support a browser-based trading platform and allow users to create alerts for stock price updates. However, Freetrade offers an advantage with real-time market data—a critical feature for those needing current market information on the go. This notable difference could cater to traders looking for immediate updates, whereas Interactive Brokers’ wealth of charting tools may appeal to those who prioritize in-depth analysis over real-time updates.
| 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 Interactive Brokers and Freetrade for retirement accounts in the UK, both online brokers present competitive options. They each offer Individual Savings Accounts (ISA), which allow users to invest their money without paying tax on dividends or capital gains. Additionally, both brokers provide Self-Invested Personal Pensions (SIPP), giving individuals the flexibility to manage their own pension savings with the potential to grow investments over the long term. This makes either Interactive Brokers or Freetrade a viable choice for those looking to maximize their retirement savings potential within tax-efficient accounts.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
When comparing the mobile offerings of Interactive Brokers and Freetrade, UK investors will find both brokers provide iPhone and Android apps, ensuring flexibility for users regardless of their device preference. However, a closer look at ratings reveals that Interactive Brokers leads with a perfect 5-star rating from UK.StockBrokers.com, securing the fourth spot out of 18 brokers for mobile app performance. In contrast, Freetrade, while still commendable, holds a 4-star rating and ranks twelfth. This suggests that Interactive Brokers' app might offer a more comprehensive and user-friendly experience for investors on the go.
Dive deeper: Best Stock Trading Apps UK.
For novice investors seeking educational resources in the UK, Interactive Brokers and Freetrade offer varying levels of support. Interactive Brokers excels with its provision of educational webinars, both live and archived for later viewing, which Freetrade lacks entirely. Both platforms provide educational content on share trading, funds, and retirement topics. However, Interactive Brokers edges ahead with a higher beginner education rating of 4.5 stars compared to Freetrade's 3.5 stars, placing them 8th and 16th respectively out of 18 brokers according to UK.StockBrokers.com.
| 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.
For UK investors seeking a strong platform for market research, Interactive Brokers and Freetrade present different offerings. Interactive Brokers provides comprehensive research, including reports for funds, and insights into shares, ETFs, CFDs, and bonds. Both brokers allow users to view their portfolio allocation by asset class and provide research on shares and ETFs. However, Freetrade falls short in several areas, lacking research reports on funds and not offering research on CFDs and bonds. This makes Interactive Brokers a preferable choice for those who prioritize in-depth market research across a wider range of investment types.
| 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.
| Feature |
Interactive Brokers
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Freetrade
|
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Interactive Brokers stands out from Freetrade by offering cryptocurrency trading options, which Freetrade currently does not provide.
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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 | |
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| 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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