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Interactive Brokers vs Freetrade 2025

StockBrokers.com

Written by StockBrokers.com

January 23, 2025

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.

Interactive Brokers
4.5/5 Stars Overall
  • Minimum Deposit: £0
  • ISA: Yes
  • SIPP: Yes
Freetrade
4/5 Stars Overall
  • Minimum Deposit: £1
  • ISA: Yes
  • SIPP: Yes

Fees

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.

query_stats 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.

Investment Choices

UK investors looking to choose between Interactive Brokers and Freetrade will find that both platforms offer share trading and access to ETFs and investment trusts. However, Interactive Brokers stands out with additional options such as CFD trading, funds, and both corporate and government bonds, making it a more versatile choice for those seeking a wider range of investment types.

While Freetrade provides a more straightforward selection for beginners, its limitation in choices means it misses out on trading avenues like CFDs and bonds offered by Interactive Brokers. This broader range of options allows Interactive Brokers to secure a high rating of 5 stars from UK.StockBrokers.com, also earning it a strong 2nd place ranking among 18 brokers, whereas Freetrade receives 4 stars and is ranked 17th for investment choices.

Feature Interactive Brokers logoInteractive Brokers
Freetrade logoFreetrade
Share Trading info Yes Yes
CFD Trading info Yes No
ETFs info Yes Yes
Funds info Yes No
Bonds - Government (Gilts) info Yes No
Investment Trusts info Yes Yes
Spread Betting info No No
Crypto Trading info No No
Advisor Services info No No
Investment Choices 5/5 Stars 4/5 Stars

Featured Offers


Interactive Brokers
4.5/5 Stars

Professional’s Gateway to the World’s Markets.

IG
4.5/5 Stars

Low-cost US and UK shares.

Trading Tools

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 logoInteractive Brokers
Freetrade logoFreetrade
Web Platform info Yes Yes
Stock Alerts info Yes Yes
Charting - Indicators / Studies info 96 0
Charting - Drawing Tools info 80 0
Charting - Notes info Yes No
Charting - Display Corporate Events info Yes No
Charting - Stock Overlays info Yes No
Charting - Index Overlays info Yes No

ISAs and SIPPs

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.

Mobile App

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.

Beginners and Education

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 logoInteractive Brokers
Freetrade logoFreetrade
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Education (Share Trading) info Yes Yes
Education (Funds) info Yes Yes
Education (Retirement) info Yes Yes
Education 4.5/5 Stars 3.5/5 Stars

Dive deeper: Best UK Trading Platforms for Beginners.

Market Research

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 logoInteractive Brokers
Freetrade logoFreetrade
Research - Shares info Yes Yes
Research - CFDs info Yes No
Research - ETFs info Yes Yes
Research - Bonds info Yes No
Research - Funds info Yes No
Fund Research - Research Reports info Yes No
Portfolio Allocation Breakdown info Yes Yes

Interactive Brokers vs Freetrade Winner

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 logoInteractive Brokers
Freetrade logoFreetrade
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 4.5/5 Stars 4.5/5 Stars
Investment Choices 5/5 Stars 4/5 Stars
Mobile App 5/5 Stars 4/5 Stars
Website 5/5 Stars 4/5 Stars
Ease of Use 4/5 Stars 4.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars

FAQs

Can you trade cryptocurrency with Interactive Brokers or Freetrade?

In comparing online brokers Interactive Brokers and Freetrade, neither platform currently offers crypto trading options for their users.

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Overall Rating Interactive Brokers Freetrade
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 4.5/5 Stars 4.5/5 Stars
Investment Choices 5/5 Stars 4/5 Stars
Mobile App 5/5 Stars 4/5 Stars
Website 5/5 Stars 4/5 Stars
Ease of Use 4/5 Stars 4.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Review Interactive Brokers Review Freetrade Review
Winner check_circle
Investments Interactive Brokers Freetrade
ISA info Yes Yes
SIPP info Yes Yes
Share Trading info Yes Yes
CFD Trading info Yes No
Funds info Yes No
ETFs info Yes Yes
Bonds - Corporate info Yes No
Bonds - Government (Gilts) info Yes No
Investment Trusts info Yes Yes
Spread Betting info No No
Crypto Trading info Yes info No
Advisor Services info No No
Trading Fees Interactive Brokers Freetrade
Minimum Deposit info £0 £1
Share Trading: 0-9 Deals/ Month info £3 £0
Share Trading: 10-19 Deals/ Month info £3 £0
Share Trading: 20+ Deals/ Month info £3 £0
5 trades per year (£30k portfolio) info £15 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
12 trades per year (£30k portfolio) info £36 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
36 trades per year (£30k portfolio) info £108 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
120 trades per year (£30k portfolio) info £360 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
3 fund trades per year (£30k portfolio) info £0 / £14.85 info N/A
Annual Custody Fee: £0 - £250,000 info £0 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
Annual Custody Fee: £250K-£500K info £0 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
Annual Custody Fee: £500,000 - £1m info £0 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
Annual Custody Fee: £1m and over info £0 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
Bonds - Corporate - Fee info 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) N/A
Bonds - Government (Gilts) - Fee info 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) N/A
ETFs - Fee info £3 £0
Investment Trusts - Fee info N/A £0
Telephone Dealing Fee info £25 N/A
Broker Screenshots Interactive Brokers Freetrade
Website Gallery (click to expand)
The home page of the Interactive Brokers website (demo account). The order ticket on the IBKR website. List of available indicators for the charts when viewing a share price on the IBKR website.
Home page of the Freetrade website. Discover tab of the Freetrade web platform. Discover by sector on the Freetrade web platform. A chart of Barclays share price on the Freetrade web platform.
Mobile Trading Apps Gallery (click to expand)
The home screen of the IBKR mobile app. The customisation screen for the homepage of the IBKR mobile app. The watchlist on the IBKR mobile app. Share price information for Barclays stock on the IBKR mobile app. Viewing a stock chart for Lloyds Bank on the IBKR mobile app. The order ticket on the IBKR mobile app (slide to buy). Order fulfillment screen on the IBKR mobile app. Various order types available on the IBKR mobile app. Setting advanced order conditions on the IBKR mobile app. The Learn page of the IBKR mobile app. IBKR GlobalTrader home page. The trade ticket on the IBKR GlobalTrader mobile app. Order preview for purchasing Apple stock on the IBKR GlobalTrader app.
Showing the overall stats of a BP stock on the Freetrade mobile app. Discover tab for searching symbols on the Freetrade mobile app. A breakdown of total portfolio allocation on the Freetrade mobile app. A chart of L'Oréal stock price on the Freetrade mobile app. The trade ticket for purchasing shares of L'Oréal stock on the Freetrade mobile app.
Education Gallery (click to expand)
Platforms & Tools Interactive Brokers Freetrade
Web Platform info Yes Yes
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info Yes Yes
Charting - Indicators / Studies info 96 0
Charting - Drawing Tools info 80 0
Charting - Notes info Yes No
Charting - Display Corporate Events info Yes No
Charting - Stock Overlays info Yes No
Charting - Index Overlays info Yes No
Research Interactive Brokers Freetrade
Research - Shares info Yes Yes
Research - CFDs info Yes No
Research - Funds info Yes No
Fund Research - Research Reports info Yes No
Research - ETFs info Yes Yes
Research - Bonds info Yes No
Portfolio Allocation Breakdown info Yes Yes
Education Interactive Brokers Freetrade
Education (Share Trading) info Yes Yes
Education (Funds) info Yes Yes
Education (Retirement) info Yes Yes
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Overall Summary Interactive Brokers Freetrade
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 4.5/5 Stars 4.5/5 Stars
Investment Choices 5/5 Stars 4/5 Stars
Mobile App 5/5 Stars 4/5 Stars
Website 5/5 Stars 4/5 Stars
Ease of Use 4/5 Stars 4.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Review Interactive Brokers Review Freetrade Review
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