UK.StockBrokers.com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money

Interactive Brokers vs Freetrade 2024

StockBrokers.com

Written by StockBrokers.com

February 01, 2024

Is Interactive Brokers better than Freetrade? After scoring the best share dealing accounts across 46 different variables, our analysis finds that Interactive Brokers is better than Freetrade. 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.

Select Brokers

×
  • check_box_outline_blankcheck_boxAJ Bell
  • check_box_outline_blankcheck_boxBarclays
  • check_box_outline_blankcheck_boxCapital.com
  • check_box_outline_blankcheck_boxCMC Invest
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity International
  • check_box_outline_blankcheck_boxFreetrade
  • check_box_outline_blankcheck_boxHalifax
  • check_box_outline_blankcheck_boxHargreaves Lansdown
  • check_box_outline_blankcheck_boxIG
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxInteractive Investor
  • check_box_outline_blankcheck_boxLloyds Bank
  • check_box_outline_blankcheck_boxSaxo Markets
  • check_box_outline_blankcheck_boxTrading 212
  • check_box_outline_blankcheck_boxVanguard UK Investor
  • check_box_outline_blankcheck_boxXTB

Compare

0 of 5
Overall Rating Interactive Brokers Freetrade
Overall Rating 4.5/5 Stars 4.5/5 Stars
Charges & Fees 4.5/5 Stars 5/5 Stars
Investment Choices 5/5 Stars 4/5 Stars
Mobile App 5/5 Stars 4.5/5 Stars
Website 5/5 Stars 3/5 Stars
Ease of Use 3.5/5 Stars 5/5 Stars
Education 3.5/5 Stars 4.5/5 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 No
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 No
Advisor Services info No No
Trading Fees Interactive Brokers Freetrade
Minimum Deposit info £0.0 £1.0
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), £71.88 (Standard), £143.88 (Plus)
12 trades per year (£30k portfolio) info £36 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus)
36 trades per year (£30k portfolio) info £108 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus)
120 trades per year (£30k portfolio) info £360 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus)
3 fund trades per year (£30k portfolio) info £0 N/A
Annual Custody Fee: £0 - £250,000 info 0 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus)
Annual Custody Fee: £250K-£500K info 0 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus)
Annual Custody Fee: £500,000 - £1m info 0 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus)
Annual Custody Fee: £1m and over info 0 £0 (Basic plan), £71.88 (Standard), £143.88 (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 £4.95 £0
Telephone Dealing Fee info USD 50 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 info Yes No
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info Yes No
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 No Yes
Education (Funds) info No Yes
Education (Retirement) info Yes Yes
Client Webinars info No No
Client Webinars (Archived) info No No
Overall Summary Interactive Brokers Freetrade
Overall Rating 4.5/5 Stars 4.5/5 Stars
Charges & Fees 4.5/5 Stars 5/5 Stars
Investment Choices 5/5 Stars 4/5 Stars
Mobile App 5/5 Stars 4.5/5 Stars
Website 5/5 Stars 3/5 Stars
Ease of Use 3.5/5 Stars 5/5 Stars
Education 3.5/5 Stars 4.5/5 Stars
Review Interactive Brokers Review Freetrade Review
Winner check_circle
arrow_upward

Comparing online share dealing platforms side by side is no small task. For our 2024 review of U.K. brokers, more than 900 data points were collected over a 10-week period and used to score each broker. Let’s compare Interactive Brokers and Freetrade.

Interactive Brokers vs Freetrade Comparison

For our 2024 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Interactive Brokers vs Freetrade.

Is Interactive Brokers a good broker?

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.

Is Freetrade a good broker?

Overall Freetrade is a great platform to help you get to grips with investing. Costs are low, and its user-friendly mobile app offers great investment inspiration. Sophisticated investors, however, may find that other platforms offer a wider range of investment options and tools.

Which broker is less expensive?

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), £71.88 (Standard), £143.88 (Plus) per year.

12 trades per year - Interactive Brokers would cost £36 per year, while Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year.

36 trades per year - Interactive Brokers would cost £108 per year, while Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year.

120 trades per year - Interactive Brokers would cost £360 per year, while Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year.

3 fund trades per year - Interactive Brokers would cost £0.0 per year, while Freetrade would cost £1.0 per year.

query_stats What type of trader are you?

Our guides can help you choose the right broker for you and the way you trade: whether you consider yourself an investing beginner, a more experienced active trader, or a mobile-first trading enthusiast.

How do Interactive Brokers and Freetrade compare in terms of minimum deposits required?

Interactive Brokers requires a minimum deposit of £0.0, while Freetrade requires a minimum deposit of £1.0. From our testing we found for accounts between £0 - £250,000 Interactive Brokers charges annual custody fees of 0, while Freetrade charges annual custody fees of £0 (Basic plan), £71.88 (Standard), £143.88 (Plus).

Which broker offers a wider range of investment options?

Interactive Brokers offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts, while Freetrade offers investors access to ISA, SIPP, ETFs and Investment Trusts. Neither have Spread Betting, Crypto Trading and Advisor Services. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Do Interactive Brokers and Freetrade offer ISA or SIPP accounts?

Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that Both Interactive Brokers and Freetrade offer SIPP and ISA accounts.

Do Interactive Brokers and Freetrade offer cryptocurrency?

In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that neither Interactive Brokers nor Freetrade offer crypto investing.

Which broker offers a better website experience?

Our testing concluded that the website of Interactive Brokers is better than the website of Freetrade. Interactive Brokers offers more functionality, is cleanly designed, and is, overall, easier to use for beginners and casual investors.

Which stock trading app is better?

To compare the trading platforms of both Interactive Brokers and Freetrade, we tested each broker's stock trading app. All features compared, our analysis finds that Interactive Brokers offers a better mobile app. Dive deeper: Best Stock Trading Apps UK.

Do Interactive Brokers and Freetrade offer educational resources?

Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that Interactive Brokers offers traders access to Education (Retirement), while Freetrade offers access to Education (Share Trading), Education (Funds) and Education (Retirement). Neither have Client Webinars and Client Webinars (Archived).

Overall winner: Interactive Brokers

Popular Stock Broker Reviews

Popular Guides


close