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Freetrade vs Lloyds Bank 2024

StockBrokers.com

Written by StockBrokers.com

February 01, 2024

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

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Compare

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Overall Rating Freetrade Lloyds Bank
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 5/5 Stars 4/5 Stars
Investment Choices 4/5 Stars 4.5/5 Stars
Mobile App 4.5/5 Stars 3.5/5 Stars
Website 3/5 Stars 4/5 Stars
Ease of Use 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Review Freetrade Review Lloyds Bank Review
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Investments Freetrade Lloyds Bank
ISA info Yes Yes
SIPP info Yes No
Share Trading info No Yes
CFD Trading info No No
Funds info No Yes
ETFs info Yes Yes
Bonds - Corporate info No Yes
Bonds - Government (Gilts) info No Yes
Investment Trusts info Yes Yes
Spread Betting info No No
Crypto Trading info No No
Advisor Services info No No
Trading Fees Freetrade Lloyds Bank
Minimum Deposit info £1.0 £0.0
Share Trading: 0-9 Deals/ Month info £0 £8, £10, £11
Share Trading: 10-19 Deals/ Month info £0 £8
Share Trading: 20+ Deals/ Month info £0 £8
5 trades per year (£30k portfolio) info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) £40 - £95
12 trades per year (£30k portfolio) info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) £40 - £172
36 trades per year (£30k portfolio) info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) £40 - £412
120 trades per year (£30k portfolio) info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) £40 - £1084
3 fund trades per year (£30k portfolio) info N/A £40 - £44.50
Annual Custody Fee: £0 - £250,000 info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) £40
Annual Custody Fee: £250K-£500K info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) £40
Annual Custody Fee: £500,000 - £1m info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) £40
Annual Custody Fee: £1m and over info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) £40
Bonds - Corporate - Fee info N/A £8, £10, £11
Bonds - Government (Gilts) - Fee info N/A £8, £10, £11
ETFs - Fee info £0 £8, £10, £11
Investment Trusts - Fee info £0 £8, £10, £11
Telephone Dealing Fee info N/A £35
Broker Screenshots Freetrade Lloyds Bank
Website Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Platforms & Tools Freetrade Lloyds Bank
Web Platform info No Yes
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info No No
Charting - Indicators / Studies info 0 0
Charting - Drawing Tools info 0 0
Charting - Notes info No No
Charting - Display Corporate Events info No No
Charting - Stock Overlays info No No
Charting - Index Overlays info No No
Research Freetrade Lloyds Bank
Research - Shares info Yes Yes
Research - CFDs info No No
Research - Funds info No Yes
Fund Research - Research Reports info No No
Research - ETFs info Yes Yes
Research - Bonds info No Yes
Portfolio Allocation Breakdown info Yes No
Education Freetrade Lloyds Bank
Education (Share Trading) info Yes No
Education (Funds) info Yes No
Education (Retirement) info Yes No
Client Webinars info No No
Client Webinars (Archived) info No No
Overall Summary Freetrade Lloyds Bank
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 5/5 Stars 4/5 Stars
Investment Choices 4/5 Stars 4.5/5 Stars
Mobile App 4.5/5 Stars 3.5/5 Stars
Website 3/5 Stars 4/5 Stars
Ease of Use 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Review Freetrade Review Lloyds Bank Review
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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 Freetrade and Lloyds Bank.

Freetrade vs Lloyds Bank Comparison

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

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.

Is Lloyds Bank a good broker?

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.

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 £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year, while Lloyds Bank would cost £40 - £95 per year.

12 trades per year - Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year, while Lloyds Bank would cost £40 - £172 per year.

36 trades per year - Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year, while Lloyds Bank would cost £40 - £412 per year.

120 trades per year - Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year, while Lloyds Bank would cost £40 - £1084 per year.

3 fund trades per year - Freetrade would cost £1.0 per year, while Lloyds Bank would cost £0.0 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 Freetrade and Lloyds Bank compare in terms of minimum deposits required?

Freetrade requires a minimum deposit of £1.0, while Lloyds Bank requires a minimum deposit of £0.0. From our testing we found for accounts between £0 - £250,000 Freetrade charges annual custody fees of £0 (Basic plan), £71.88 (Standard), £143.88 (Plus), while Lloyds Bank charges annual custody fees of £40.

Which broker offers a wider range of investment options?

Freetrade offers investors access to ISA, SIPP, ETFs and Investment Trusts, while Lloyds Bank offers investors access to ISA, Share Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts. Neither have CFD Trading, 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 Freetrade and Lloyds Bank 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 Freetrade offers traders access to SIPP and ISA accounts, while Lloyds Bank offers traders access to ISA accounts.

Do Freetrade and Lloyds Bank 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 Freetrade nor Lloyds Bank offer crypto investing.

Which broker offers a better website experience?

Our testing concluded that the website of Lloyds Bank is better than the website of Freetrade. Lloyds Bank 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 Freetrade and Lloyds Bank, we tested each broker's stock trading app. All features compared, our analysis finds that Freetrade offers a better mobile app. Dive deeper: Best Stock Trading Apps UK.

Do Freetrade and Lloyds Bank 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 Freetrade offers traders access to Education (Share Trading), Education (Funds) and Education (Retirement), while Lloyds Bank offers access to neither of these. Neither have Client Webinars and Client Webinars (Archived).

Overall winner: Freetrade

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