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Freetrade vs Lloyds Bank 2023

StockBrokers.com

Written by StockBrokers.com

November 17, 2022

Is Freetrade better than Lloyds Bank? After scoring the best share dealing accounts across 46 different variables, Freetrade is better than Lloyds Bank. Freetrade's commission-free model allows trading of fractional shares with a user-friendly mobile trading app, and the educational offering is of good quality. Research and range of investments are limited, however, and its online trading platform is still in beta and not available to all customers.

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Overall RatingFreetradeLloyds Bank
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 3/5 Stars
Offering of Investments 2.5/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Platforms & Tools 1/5 Stars 3/5 Stars
Research 2/5 Stars 4/5 Stars
Ease of Use 4.5/5 Stars N/A
Education 3/5 Stars 3.5/5 Stars
Review Freetrade Review
Winner check_circle
InvestmentsFreetradeLloyds Bank
ISA Yes Yes
SIPP Yes Yes
Share Trading Yes Yes
CFD Trading No No
Funds No Yes
ETFs Yes Yes
Bonds - Corporate No Yes
Bonds - Government (Gilts) No Yes
Investment Trusts Yes Yes
Spread Betting No No
Crypto Trading No No
Advisor Services No Yes
Trading FeesFreetradeLloyds Bank
Minimum Deposit £0.0 £0.0
Share Trading: 0-9 Deals/ Month £0 £8 to 11
Share Trading: 10-19 Deals/ Month £0 £8
Share Trading: 20+ Deals/ Month £0 £8
5 trades per year (£30k portfolio) N/A £47.5
12 trades per year (£30k portfolio) £0 £172
36 trades per year (£30k portfolio) £0 £436
120 trades per year (£30k portfolio) £0 £1000
3 fund trades per year (£30k portfolio) N/A £44.5
Annual Custody Fee: £0 - £250,000 £0 £40 (flat)
Annual Custody Fee: £250K-£500K £0 £40
Annual Custody Fee: £500,000 - £1m £0 £40
Annual Custody Fee: £1m and over £0 £40
Bonds - Corporate - Fee N/A £11
Bonds - Government (Gilts) - Fee N/A £11
ETFs - Fee £0 £11
Investment Trusts - Fee £0 £11
Telephone Dealing Fee N/A £25
Platforms & ToolsFreetradeLloyds Bank
Web Platform No Yes
iPhone App Yes Yes
Android App Yes Yes
Stock Alerts No Yes
Charting - Indicators / Studies 0 83
Charting - Drawing Tools 1 17
Charting - Notes No Yes
Charting - Display Corporate Events No No
Charting - Stock Overlays No No
Charting - Index Overlays No No
ResearchFreetradeLloyds Bank
Research - Shares Yes Yes
Research - CFDs No Yes
Research - Funds No Yes
Fund Research - Research Reports No No
Research - ETFs Yes Yes
Research - Bonds No Yes
Portfolio Allocation Breakdown No Yes
EducationFreetradeLloyds Bank
Has Education - Share Trading Yes Yes
Has Education - Funds No Yes
Has Education - Retirement Yes Yes
Client Webinars No Yes
Client Webinars (Archived) No Yes
Overall SummaryFreetradeLloyds Bank
Overall Rating 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 3/5 Stars
Offering of Investments 2.5/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 3.5/5 Stars
Platforms & Tools 1/5 Stars 3/5 Stars
Research 2/5 Stars 4/5 Stars
Ease of Use 4.5/5 Stars N/A
Education 3/5 Stars 3.5/5 Stars
Review Freetrade Review
Winner check_circle
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Freetrade vs Lloyds Bank Comparison

For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Freetrade vs Lloyds Bank.

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 Lloyds Bank 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 - Freetrade would cost N/A per year, while Lloyds Bank would cost £47.5 per year.

12 trades per year - Freetrade would cost £0 per year, while Lloyds Bank would cost £172 per year.

36 trades per year - Freetrade would cost £0 per year, while Lloyds Bank would cost £436 per year.

120 trades per year - Freetrade would cost £0 per year, while Lloyds Bank would cost £1000 per year.

3 fund trades per year - Freetrade would cost N/A per year, while Lloyds Bank would cost £44.5 per year.

Which broker offers a wider range of investment options?

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

Which broker offers better research?

Our testing concluded that Freetrade is better for research than Lloyds Bank. Freetrade offers more research options, including research reports, articles, and analyst ratings.

Which trading platform is better?

To compare the trading platforms of both Freetrade and Lloyds Bank, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, Freetrade offers a better share dealing platform and Freetrade offers a better stock app for mobile trading.

Overall winner: Freetrade

Read Next: Best UK Trading Platforms 2022


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