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, Freetrade offers better pricing than Interactive Brokers 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 accommodate investors with the ability to trade shares and ETFs, making them accessible options for those keen on these markets. However, Interactive Brokers sets itself apart by also offering a wider range of investment options, including CFD trading, funds, corporate bonds, and government bonds. In contrast, Freetrade limits its services by not supporting CFD trading, funds, or bond investments.
When it comes to trading investment trusts, both brokers provide this option, but neither offers crypto trading or spread betting. Rated by UK.StockBrokers.com, Interactive Brokers garners a perfect 5-star rating, ranking it as the #2 platform for investment choices out of 18 brokers, whereas Freetrade earns 4 stars, placing it at #13. This distinction highlights Interactive Brokers' expansive investment offerings compared to Freetrade's more streamlined approach.
| 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 |
|
|
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 apps of online brokers Interactive Brokers and Freetrade, both offer applications for iPhone and Android devices, catering to a wide range of smartphone users. According to UK.StockBrokers.com, Interactive Brokers' mobile app stands out with a stellar 5-star rating and ranks impressively at number 2 out of 18 brokers for mobile app performance. Meanwhile, Freetrade's app, though competitive, receives a solid 4-star rating and ranks 8th, offering a slightly lower-rated, yet robust trading experience on the go.
Dive deeper: Best Stock Trading Apps UK.
When comparing the educational resources provided by Interactive Brokers and Freetrade for beginner investors, there are notable differences. Interactive Brokers offers educational webinars that are both live and archived for on-demand viewing, which Freetrade does not. Both platforms provide educational material on share trading, funds, and retirement, ensuring foundational knowledge in these areas. According to UK.StockBrokers.com, Interactive Brokers is rated 4.5 stars for beginner education and is ranked 12th out of 18 brokers. In contrast, Freetrade is rated 3.5 stars and ranks higher at 9th, indicating a slightly stronger standing despite fewer interactive resources.
| 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 |
|
|
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.
| Feature |
Interactive Brokers
|
Freetrade
|
|---|---|---|
| Overall Rating |
|
|
| Charges & Fees |
|
|
| Investment Choices |
|
|
| Mobile App |
|
|
| Website |
|
|
| Ease of Use |
|
|
| Education |
|
|
In comparing online brokers Interactive Brokers and Freetrade, neither platform currently offers crypto trading options for their users.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Interactive Brokers | Freetrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Charges & Fees |
|
| |
| Investment Choices |
|
| |
| Mobile App |
|
| |
| Website |
|
| |
| Ease of Use |
|
| |
| Education |
|
| |
| 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) |
|
| |
| Mobile Trading Apps Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Charges & Fees |
|
| |
| Investment Choices |
|
| |
| Mobile App |
|
| |
| Website |
|
| |
| Ease of Use |
|
| |
| Education |
|
| |
| Review | Interactive Brokers Review | Freetrade Review | |
| Winner | check_circle |
IG Group Review
Saxo Review
eToro Review
Interactive Brokers Review
Trading 212 Review
XTB Review
CMC Invest Review
Vanguard Review
Hargreaves Lansdown Review
Halifax Review
Freetrade Review