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

Lloyds Bank vs Freetrade 2025

StockBrokers.com

Written by StockBrokers.com

January 23, 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.

Lloyds Bank
4/5 Stars Overall
  • Minimum Deposit: £0
  • ISA: Yes
  • SIPP: Yes
Freetrade
4/5 Stars Overall
  • Minimum Deposit: £1
  • ISA: Yes
  • SIPP: Yes

Fees

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.

query_stats 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.

Investment Choices

For UK investors exploring online brokerage options, Lloyds Bank and Freetrade both offer a user-friendly platform for share trading and ETFs, making them popular choices. However, they diverge significantly in their available investment choices. Lloyds Bank stands out by providing access to funds trading, corporate bonds, government bonds, and investment trusts, alongside advisor services for more guided investment decisions. In contrast, Freetrade offers a streamlined approach focusing mainly on shares, ETFs, and investment trusts, catering primarily to the self-directed investor. Neither platform currently supports crypto trading, spread betting, or CFD trading.

Both brokers have received positive recognition for their offerings, with Lloyds Bank earning a higher mark from UK.StockBrokers.com with a 5-star rating for investment choices, ranking it 8th out of 18 brokers. Meanwhile, Freetrade, with its 4-star rating, is positioned at 17th. This suggests that while Lloyds Bank provides a broader investment palette suitable for diverse portfolios, Freetrade appeals to those seeking simplicity and focused personal investment management.

Feature Lloyds Bank logoLloyds Bank
Freetrade logoFreetrade
Share Trading info Yes Yes
CFD Trading info No No
ETFs info Yes Yes
Funds info Yes No
Bonds - Government (Gilts) info Yes No
Investment Trusts info Yes Yes
Spread Betting info No No
Crypto Trading info No No
Advisor Services info Yes No
Investment Choices 5/5 Stars 4/5 Stars

Featured Offers


4.5/5 Stars

Professional’s Gateway to the World’s Markets.

4.5/5 Stars

Low-cost US and UK shares.

Trading Tools

When comparing the trading tools of Lloyds Bank and Freetrade, both platforms provide similar basic functionalities, yet they differ slightly in certain areas. Neither Lloyds Bank nor Freetrade offers the ability to display corporate events like earnings or dividends on charts, and both lack drawing tools, technical indicators, or the ability to add notes, index overlays, or stock overlays to charts. Trading through a browser-based platform is available for both, along with the functionality to set alerts for stock price updates.

However, a noteworthy distinction lies in the provision of real-time market data. While Freetrade gives its users access to real-time updates, Lloyds Bank does not, which could be a significant factor for those keen on keeping up-to-the-minute with market fluctuations. Considering these factors, Freetrade may appeal more to traders who prioritize quick market feedback, while Lloyds Bank serves those who are satisfied with broader features sans real-time data.

Feature Lloyds Bank logoLloyds Bank
Freetrade logoFreetrade
Web Platform info Yes Yes
Stock Alerts info Yes Yes
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

ISAs and SIPPs

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.

Mobile App

When comparing online trading options for UK users, Lloyds Bank and Freetrade both provide mobile apps for iPhone and Android devices, catering to the growing demand for on-the-go investment management. According to UK.StockBrokers.com, Freetrade boasts a higher mobile app rating of 4 out of 5 stars and ranks 12th among 18 brokers, reflecting its user-friendly interface and features. Meanwhile, Lloyds Bank receives a slightly lower app rating of 3.5 stars and ranks 17th, suggesting room for improvement in its mobile offerings. Whether you're a new investor or an experienced trader, these ratings offer insight into what you might expect from each app’s performance and usability.

Dive deeper: Best Stock Trading Apps UK.

Beginners and Education

Lloyds Bank and Freetrade differ significantly in their educational resources for beginner investors. Neither provides educational webinars or on-demand webinar archives, but they diverge on specific topics. Freetrade offers educational materials on share trading, funds, and retirement, while Lloyds Bank does not provide resources in these areas. Despite the breadth of Freetrade’s offerings, Lloyds Bank earns a higher rating for beginner education from UK.StockBrokers.com, receiving 4 stars and ranking 14th among 18 brokers. In contrast, Freetrade is rated 3.5 stars and ranks 16th, highlighting a disparity between resource availability and perceived educational value. For UK readers seeking straightforward educational content to start their investing journey, these differences can guide their choice between the two online brokers.

Feature Lloyds Bank logoLloyds Bank
Freetrade logoFreetrade
Client Webinars info No No
Client Webinars (Archived) info No No
Education (Share Trading) info No Yes
Education (Funds) info No Yes
Education (Retirement) info No Yes
Education 4/5 Stars 3.5/5 Stars

Dive deeper: Best UK Trading Platforms for Beginners.

Market Research

For UK investors seeking detailed market insights, Lloyds Bank and Freetrade offer different strengths in research features. Lloyds Bank provides comprehensive research reports for funds and bonds, making it a solid choice for those focused on these areas. Both Lloyds Bank and Freetrade deliver research for shares and ETFs, catering to users interested in these popular investment options. However, for investors keen on analyzing their portfolio by asset class, Freetrade stands out by offering this specific feature, whereas Lloyds Bank does not. Neither platform offers research for CFDs, maintaining similarity in this area. Ultimately, your choice may depend on whether you prioritize detailed fund and bond insights or comprehensive portfolio allocation visibility.

Feature Lloyds Bank logoLloyds Bank
Freetrade logoFreetrade
Research - Shares info Yes Yes
Research - CFDs info No No
Research - ETFs info Yes Yes
Research - Bonds info Yes No
Research - Funds info Yes No
Fund Research - Research Reports info Yes No
Portfolio Allocation Breakdown info No Yes

Lloyds Bank vs Freetrade Winner

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.

Feature Lloyds Bank logoLloyds Bank
Freetrade logoFreetrade
Overall Rating 4/5 Stars 4/5 Stars
Charges & Fees 4.5/5 Stars 4.5/5 Stars
Investment Choices 5/5 Stars 4/5 Stars
Mobile App 3.5/5 Stars 4/5 Stars
Website 4/5 Stars 4/5 Stars
Ease of Use 3.5/5 Stars 4.5/5 Stars
Education 4/5 Stars 3.5/5 Stars

FAQs

Can you trade cryptocurrency with Lloyds Bank or Freetrade?

Both Lloyds Bank and Freetrade do not offer crypto trading, making them similar in this aspect for investors seeking online brokerage services.

Popular Guides

Popular Stock Broker Reviews

More Guides


Select Brokers

×
  • check_box_outline_blankcheck_boxAJ Bell
  • check_box_outline_blankcheck_boxBarclays
  • check_box_outline_blankcheck_boxBestinvest
  • check_box_outline_blankcheck_boxCapital.com
  • check_box_outline_blankcheck_boxCharles Stanley Direct
  • 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_boxRevolut
  • check_box_outline_blankcheck_boxRobinhood UK
  • check_box_outline_blankcheck_boxSaxo
  • check_box_outline_blankcheck_boxTrading 212
  • check_box_outline_blankcheck_boxVanguard UK Investor
  • check_box_outline_blankcheck_boxWebull
  • check_box_outline_blankcheck_boxXTB

Compare

2 of 5
Overall Rating Lloyds Bank Freetrade
Overall Rating 4/5 Stars 4/5 Stars
Charges & Fees 4.5/5 Stars 4.5/5 Stars
Investment Choices 5/5 Stars 4/5 Stars
Mobile App 3.5/5 Stars 4/5 Stars
Website 4/5 Stars 4/5 Stars
Ease of Use 3.5/5 Stars 4.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Review Lloyds Bank Review Freetrade Review
Winner check_circle
Investments Lloyds Bank Freetrade
ISA info Yes Yes
SIPP info Yes Yes
Share Trading info Yes Yes
CFD Trading info No 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 No No
Advisor Services info Yes No
Trading Fees Lloyds Bank Freetrade
Minimum Deposit info £0 £1
Share Trading: 0-9 Deals/ Month info £8, £10, £11 £0
Share Trading: 10-19 Deals/ Month info £8 £0
Share Trading: 20+ Deals/ Month info £8 £0
5 trades per year (£30k portfolio) info £95 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
12 trades per year (£30k portfolio) info £40 - £172 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
36 trades per year (£30k portfolio) info £40 - £328 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
120 trades per year (£30k portfolio) info £40 / £1,000 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
3 fund trades per year (£30k portfolio) info £44.50 N/A
Annual Custody Fee: £0 - £250,000 info £40 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
Annual Custody Fee: £250K-£500K info £40 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
Annual Custody Fee: £500,000 - £1m info £40 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
Annual Custody Fee: £1m and over info £40 £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
Bonds - Corporate - Fee info £8 - £11 N/A
Bonds - Government (Gilts) - Fee info £8 - £11 N/A
ETFs - Fee info £0
Investment Trusts - Fee info £0
Telephone Dealing Fee info £35 N/A
Broker Screenshots Lloyds Bank Freetrade
Website Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Platforms & Tools Lloyds Bank Freetrade
Web Platform info Yes Yes
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info Yes Yes
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 Lloyds Bank Freetrade
Research - Shares info Yes Yes
Research - CFDs info No 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 No Yes
Education Lloyds Bank Freetrade
Education (Share Trading) info No Yes
Education (Funds) info No Yes
Education (Retirement) info No Yes
Client Webinars info No No
Client Webinars (Archived) info No No
Overall Summary Lloyds Bank Freetrade
Overall Rating 4/5 Stars 4/5 Stars
Charges & Fees 4.5/5 Stars 4.5/5 Stars
Investment Choices 5/5 Stars 4/5 Stars
Mobile App 3.5/5 Stars 4/5 Stars
Website 4/5 Stars 4/5 Stars
Ease of Use 3.5/5 Stars 4.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Review Lloyds Bank Review Freetrade Review
Winner check_circle
arrow_upward

close