Written by StockBrokers.com
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.
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
|
Freetrade
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | No | No |
| ETFs | Yes | Yes |
| Funds | Yes | No |
| Bonds - Government (Gilts) | Yes | No |
| Investment Trusts | Yes | Yes |
| Spread Betting | No | No |
| Crypto Trading | No | No |
| Advisor Services | Yes | No |
| Investment Choices |
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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
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
|
Freetrade
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 0 | 0 |
| Charting - Drawing Tools | 0 | 0 |
| Charting - Notes | No | No |
| Charting - Display Corporate Events | No | No |
| Charting - Stock Overlays | No | No |
| Charting - Index Overlays | No | No |
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 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.
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
|
Freetrade
|
|---|---|---|
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Education (Share Trading) | No | Yes |
| Education (Funds) | No | Yes |
| Education (Retirement) | No | Yes |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
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
|
Freetrade
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | No | No |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | No |
| Research - Funds | Yes | No |
| Fund Research - Research Reports | Yes | No |
| Portfolio Allocation Breakdown | No | 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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Lloyds Bank
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Freetrade
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Both Lloyds Bank and Freetrade do not offer crypto trading, making them similar in this aspect for investors seeking online brokerage services.
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0 of 5| Overall Rating | Lloyds Bank | Freetrade | |
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| Review | Lloyds Bank Review | Freetrade Review | |
| Winner | check_circle |
| Investments | Lloyds Bank | Freetrade | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | Yes | |
| CFD Trading | No | No | |
| Funds | Yes | No | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | No | |
| Bonds - Government (Gilts) | Yes | No | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | No | No | |
| Crypto Trading | No | No | |
| Advisor Services | Yes | No |
| Trading Fees | Lloyds Bank | Freetrade | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| Website Gallery (click to expand) |
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| Education Gallery (click to expand) |
| Platforms & Tools | Lloyds Bank | Freetrade | |
|---|---|---|---|
| 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 | No | No | |
| Charting - Display Corporate Events | No | No | |
| Charting - Stock Overlays | No | No | |
| Charting - Index Overlays | No | No |
| Research | Lloyds Bank | Freetrade | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | No | No | |
| Research - Funds | Yes | No | |
| Fund Research - Research Reports | Yes | No | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | No | |
| Portfolio Allocation Breakdown | No | Yes |
| Education | Lloyds Bank | Freetrade | |
|---|---|---|---|
| Education (Share Trading) | No | Yes | |
| Education (Funds) | No | Yes | |
| Education (Retirement) | No | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No |
| Overall Summary | Lloyds Bank | Freetrade | |
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| Review | Lloyds Bank Review | Freetrade Review | |
| Winner | check_circle |
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