Freetrade vs Lloyds Bank 2023

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.

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.

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

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.