Lloyds Bank vs Freetrade 2025
In this head to head comparison of Lloyds Bank vs Freetrade, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
In this head to head comparison of Lloyds Bank 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 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 - Lloyds Bank would cost £95 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
12 trades per year - Lloyds Bank would cost £40 - £172 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
36 trades per year - Lloyds Bank would cost £40 - £328 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
120 trades per year - Lloyds Bank would cost £40 / £1,000 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
3 fund trades per year - Lloyds Bank 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.
When considering online brokers in the UK, Lloyds Bank and Freetrade both offer straightforward share trading and investments in ETFs and investment trusts. However, Lloyds Bank broadens your investment horizons, providing access to trading corporate bonds, government bonds, and funds, along with advisor services, which Freetrade does not offer. For those who value a wide range of investment options, this could be a deciding factor.
In terms of expert ratings, Lloyds Bank shines brighter with a 5-star rating from UK.StockBrokers.com for its investment choices, ranking 8th out of 21 brokers. In contrast, Freetrade, though competent in share and ETF trading, receives a 4-star rating and ranks 17th. Whether you prioritize comprehensive services or simple ease of use, these ratings may guide your choice between the two.
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Share Trading | Yes | Yes |
CFD Trading | ||
ETFs | Yes | Yes |
Funds | Yes | |
Bonds - Government (Gilts) | Yes | |
Investment Trusts | Yes | Yes |
Spread Betting | ||
Crypto Trading | ||
Advisor Services | Yes | |
Investment Choices |
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When comparing the trading tools of Lloyds Bank and Freetrade, both offer browser-based platforms, ensuring accessibility for users. However, Freetrade edges ahead by providing real-time market data, a crucial feature for investors who need instant access to market fluctuations. Both platforms allow the creation of alerts for stock price updates, but neither offers the option to display corporate events on charts such as earnings, splits, or dividends. Additionally, neither Lloyds Bank nor Freetrade provides drawing tools or technical indicators for charting, and options to add notes, index overlays, or stock overlays to charts are notably absent.
While both brokers cater to the essential needs of an online trading experience, users seeking detailed charting tools might find options somewhat limited on both platforms. The choice between Lloyds Bank and Freetrade may ultimately hinge on the importance of real-time data, a feature exclusively offered by Freetrade, which could be a significant factor for active traders monitoring market trends closely.
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Web Platform | Yes | Yes |
Stock Alerts | Yes | Yes |
Charting - Indicators / Studies | 0 | 0 |
Charting - Drawing Tools | 0 | 0 |
Charting - Notes | ||
Charting - Display Corporate Events | ||
Charting - Stock Overlays | ||
Charting - Index Overlays |
When comparing retirement accounts offered by Lloyds Bank and Freetrade, both online brokers in the UK provide Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), catering to diversified investment needs. Lloyds Bank, a traditional financial institution, and Freetrade, a more recent player focused on simple, app-based trading, both offer comprehensive solutions for those seeking tax-efficient savings and retirement planning. While Lloyds Bank might appeal to those who prefer a broader range of traditional banking services, Freetrade can be attractive for tech-savvy individuals who value ease of use and streamlined investment options. Ultimately, the choice between the two may come down to your preferred trading style and the level of service you expect.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
When comparing mobile apps for online trading, Lloyds Bank and Freetrade both offer accessibility with their iPhone and Android apps. Rated by UK.StockBrokers.com, Lloyds Bank's app receives 3.5 out of 5 stars and holds the 17th position among 21 brokers, indicating a moderate user experience. In contrast, Freetrade's app is rated higher, achieving 4 out of 5 stars and ranking 12th, suggesting a more favorable user experience for those looking to trade on the go. With these considerations, Freetrade may provide a slightly more user-friendly mobile app experience for UK traders.
Dive deeper: Best Stock Trading Apps UK.
For UK beginner investors keen on educational resources, a comparison between Lloyds Bank and Freetrade highlights distinct offerings. Lloyds Bank does not provide educational client webinars or offer archive access for on-demand viewing, while Freetrade also lacks webinars and archival access. In terms of education topics, Freetrade covers share trading, funds, and retirement, whereas Lloyds Bank does not specify education in these areas. However, in a UK.StockBrokers.com ranking for beginner education, Lloyds Bank receives a higher rating of 4 stars, ranking 14th out of 21 brokers, compared to Freetrade's 3.5 stars and a rank of 16th. This suggests that while Freetrade offers more specific educational content, Lloyds Bank is seen more favorably in general beginner education quality.
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Client Webinars | ||
Client Webinars (Archived) | ||
Education (Share Trading) | Yes | |
Education (Funds) | Yes | |
Education (Retirement) | Yes | |
Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
For UK investors looking to delve into market research features, Lloyds Bank and Freetrade offer different strengths. Lloyds Bank provides comprehensive research reports for funds, shares, ETFs, and bonds, making it a suitable choice for those interested in a broad range of investment insights. However, it lacks features for viewing portfolio allocation by asset class. On the other hand, Freetrade allows users to see their portfolio allocation by asset class, while also offering research on shares and ETFs, but does not provide research reports for funds or bonds. Both platforms have yet to incorporate CFDs research into their offerings.
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Research - Shares | Yes | Yes |
Research - CFDs | ||
Research - ETFs | Yes | Yes |
Research - Bonds | Yes | |
Research - Funds | Yes | |
Fund Research - Research Reports | Yes | |
Portfolio Allocation Breakdown | Yes |
Which broker is better overall, Lloyds Bank or Freetrade? After collecting more than 900 data points over a 10-week period, we found Lloyds Bank to be a better trading platform overall.
It's easy for current Lloyds Bank customers to open a Lloyds Bank Share Dealing investment account. But there are other platforms that are easier, more comprehensive and cheaper to use, including Halifax, which is also owned by Lloyds Banking Group.
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When comparing online brokers, Lloyds Bank does not offer crypto trading, whereas Freetrade also does not provide crypto trading options, making both platforms similar in their absence of cryptocurrency offerings.
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0 of 5Overall Rating | Lloyds Bank | Freetrade | |
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Charges & Fees |
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Investment Choices |
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Mobile App |
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Website |
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Ease of Use |
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Education |
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Review | Lloyds Bank Review | Freetrade Review | |
Winner | check_circle |
Investments | Lloyds Bank | Freetrade | |
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ISA | Yes | Yes | |
SIPP | Yes | Yes | |
Share Trading | Yes | Yes | |
CFD Trading | |||
Funds | Yes | ||
ETFs | Yes | Yes | |
Bonds - Corporate | Yes | ||
Bonds - Government (Gilts) | Yes | ||
Investment Trusts | Yes | Yes | |
Spread Betting | |||
Crypto Trading | |||
Advisor Services | Yes |
Trading Fees | Lloyds Bank | Freetrade | |
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Minimum Deposit | £0 | £1 | |
Share Trading: 0-9 Deals/ Month | £8 - £11 | £0 | |
Share Trading: 10-19 Deals/ Month | £8 | £0 | |
Share Trading: 20+ Deals/ Month | £8 | £0 | |
5 trades per year (£30k portfolio) | £95 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
12 trades per year (£30k portfolio) | £40 - £172 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
36 trades per year (£30k portfolio) | £40 - £328 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
120 trades per year (£30k portfolio) | £40 / £1,000 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
3 fund trades per year (£30k portfolio) | £44.50 | N/A | |
Annual Custody Fee: £0 - £250,000 | £40 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
Annual Custody Fee: £250K-£500K | £40 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
Annual Custody Fee: £500,000 - £1m | £40 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
Annual Custody Fee: £1m and over | £40 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
Bonds - Corporate - Fee | £8 - £11 | N/A | |
Bonds - Government (Gilts) - Fee | £8 - £11 | N/A | |
ETFs - Fee | £8 - £11 | £0 | |
Investment Trusts - Fee | £8 - £11 | £0 | |
Telephone Dealing Fee | £35 | N/A |
Broker Screenshots | Lloyds Bank | Freetrade | |
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Website Gallery (click to expand) | |||
Mobile Trading Apps Gallery (click to expand) | |||
Education Gallery (click to expand) |
Platforms & Tools | Lloyds Bank | Freetrade | |
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Web Platform | Yes | Yes | |
iPhone App | Yes | Yes | |
Android App | Yes | Yes | |
Stock Alerts | Yes | Yes | |
Charting - Indicators / Studies | 0 | 0 | |
Charting - Drawing Tools | 0 | 0 | |
Charting - Notes | |||
Charting - Display Corporate Events | |||
Charting - Stock Overlays | |||
Charting - Index Overlays |
Research | Lloyds Bank | Freetrade | |
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Research - Shares | Yes | Yes | |
Research - CFDs | |||
Research - Funds | Yes | ||
Fund Research - Research Reports | Yes | ||
Research - ETFs | Yes | Yes | |
Research - Bonds | Yes | ||
Portfolio Allocation Breakdown | Yes |
Education | Lloyds Bank | Freetrade | |
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Education (Share Trading) | Yes | ||
Education (Funds) | Yes | ||
Education (Retirement) | Yes | ||
Client Webinars | |||
Client Webinars (Archived) |
Overall Summary | Lloyds Bank | Freetrade | |
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Overall Rating |
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Charges & Fees |
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Investment Choices |
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Mobile App |
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Website |
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Ease of Use |
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Education |
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Review | Lloyds Bank Review | Freetrade Review | |
Winner | check_circle |