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.
Your capital is at risk.
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.
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 offer share trading and access to ETFs for UK investors. However, their investment choices differ significantly beyond these areas. Interactive Brokers provides a more extensive range of trading options, including crypto, CFDs, corporate and government bonds, and funds. On the other hand, Freetrade does not support crypto trading, CFDs, funds, or bond trading, making it less versatile for investors seeking a wide range of asset opportunities.
When it comes to rankings and reviews, Interactive Brokers holds a more favorable position. It is rated five stars by UK.StockBrokers.com for its investment choices, ranking 2nd out of 21 brokers. Freetrade, while still a viable option for certain investments, is rated four stars and ranks 17th. Neither platform provides advisor services, leaving investors to navigate their investment choices independently.
| Feature |
Interactive Brokers
|
Freetrade
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | Yes | No |
| ETFs | Yes | Yes |
| Mutual 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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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
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.
In the UK, both Interactive Brokers and Freetrade cater to users with iOS and Android mobile apps, ensuring accessibility across popular platforms. However, when it comes to user ratings and performance, Interactive Brokers excels with a 5-star mobile app rating from UK.StockBrokers.com, securing the impressive rank of 4th out of 21 brokers. In comparison, Freetrade earns a respectable 4 stars, yet it falls to the 12th position in the same ranking. This suggests that while both apps provide functional mobile trading experiences, Interactive Brokers offers a more highly rated service according to user reviews in the UK.
Dive deeper: Best Stock Trading Apps UK.
For UK beginner investors seeking educational resources from online brokers, Interactive Brokers and Freetrade offer different levels of support. Interactive Brokers provides webinars for clients, both live and archived for on-demand viewing, covering a range of topics like share trading, funds, and retirement planning. In contrast, Freetrade lacks webinar offerings but still provides educational content on share trading, funds, and retirement. This difference is reflected in their reviews; Interactive Brokers receives a 4.5-star rating and ranks 8th among 21 brokers for beginner education, while Freetrade scores 3.5 stars and holds the 16th position. Both platforms have educational resources, but Interactive Brokers offers a more comprehensive webinar experience.
| 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.
When comparing the market research features of Interactive Brokers and Freetrade, UK investors will find that Interactive Brokers offers a wider range of options. Interactive Brokers provides extensive research reports for funds, shares, ETFs, and bonds, along with the ability to view portfolio allocation by asset class. In contrast, while Freetrade allows users to see their portfolio allocation and offers research on shares and ETFs, it lacks research reports for funds and bonds. This makes Interactive Brokers a more comprehensive choice for those who prioritize in-depth market research across various investment types.
| Feature |
Interactive Brokers
|
Freetrade
|
|---|---|---|
| Research - Shares | Yes | Yes |
| 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 | |
| Mutual 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 | ||
| 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) | |||
| 12 trades per year (£30k portfolio) | |||
| 36 trades per year (£30k portfolio) | |||
| 120 trades per year (£30k portfolio) | |||
| 3 fund trades per year (£30k portfolio) | |||
| Annual Platform Fee (Funds): £0 - £250,000 | £0 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Annual Platform Fee (Funds): £250K-£500K | £0 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Annual Platform Fee (Funds): £500,000 - £1m | £0 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Annual Platform Fee (Funds): £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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| 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 | |||
| 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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