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Vanguard ReviewFreetrade Review
Written by Elizabeth Anderson
Fact-checked by Steven Hatzakis
Edited by Carolyn Kimball, Jeff Anberg
Your capital is at risk.
Freetrade is an investment platform known for its commission-free stock trading. Like other zero-commission platforms, it aims to get more people investing by reducing the cost.
You can invest a few pounds without being stung by trading charges, which means Freetrade is a great platform if you are new to investing and want to learn more about the stock market before committing much money. However, its investment range is more limited than other platforms, and Freetrade charges a monthly fee for its ISA accounts.
-
Minimum Deposit:
£1 -
ISA:
Yes -
SIPP:
Yes
| Investment Choices | |
| Charges & Fees | |
| Website | |
| Education | |
| Mobile App | |
| Ease of Use |
Check out UK.StockBrokers.com's picks for the best investment platforms in 2025.
| 2025 | #16 |
| 2024 | #7 |
| 2023 | #6 |
| 2022 | #6 |
| 2021 | #6 |
Table of Contents
Pros & cons
Pros
- Commission-free trading keeps costs low for beginners.
- Fractional U.S. shares let you invest with just a few pounds.
- User-friendly mobile app makes stock discovery simple and engaging.
Cons
- £4.99 monthly ISA fee adds up on smaller portfolios.
- Missing core investments like mutual funds and bonds.
- Minimal research tools makes it tough for deeper analysis.
Freetrade fees
For beginner investors, the great thing about Freetrade is that you can invest in fractional shares for U.S. companies – which means you don’t have to purchase one whole stock as U.S. share prices commonly run into the hundreds of pounds.
For example, you could choose to buy £30 worth of Apple shares, meaning you would own about a sixth of a share at today’s value. You would pay no trading fees, although you’ll pay a currency conversion fee of 0.99% on the Freetrade Basic account (this drops to 0.39% for the Plus account). On a £30 trade, it would mean currency conversion charges of £0.30 for the basic account, so costs are very low.
Freetrade offers three account levels:
Basic account: This level carries no cost and allows you to invest in 4,800 stocks and ETFs through a general investment account. It still offers a decent range to choose from, including FTSE 100 and FTSE 250 companies as well as Vanguard and iShares ETFs.
Standard account: If you want more investment choice, and the option to save through an ISA, Freetrade’s ‘standard’ plan costs £5.99 a month, totalling £71.88 a year, although this is discounted to £59.88 if you pay annually.
You’ll get access to more than 6,200 investments, including more international shares, and you can earn 3% interest on uninvested cash up to a maximum of £2,000. You can also set up recurring orders and limit orders on stocks, meaning you buy or sell when a share reaches a specified price.
The £5.99 a month ISA cost can work out quite expensive if you have less than £10,000 to invest. You’d be better going through a platform that charges a percentage fee, such as Vanguard or AJ Bell.
Plus account: Freetrade’s third option, the Plus account, costs £9.99 a month (totalling £119.88 a year). It is for those who want to save through a SIPP (self-invested personal pension). You’ll also earn 5% interest on up to £3,000 of uninvested cash and access to better customer service.
Freetrade’s flat-rate SIPP fee can work out cost-effective if you have a large amount held in your SIPP as you’d pay a fixed £119.88 a year, unlike other brokers charging percentage fees where charges can rack up the more you hold. Interactive Investor (ii), another flat-fee broker, charges £159 a year for SIPPs with a value above £50,000. This means Freetrade is cheaper, but doesn’t offer the extensive range of investments offered by ii, such as mutual funds, which could be a possible drawback depending on your investing strategy.
Overall, the basic account should do fine for many investors starting out — although the ISA option should be considered if you are looking to save higher amounts long-term so you don’t have to worry about potential capital gains tax or income tax further down the line.
Scenario pricing: When calculating annual share dealing costs, trading frequency and account balance are the two most important factors to consider. Assuming a £30,000 portfolio in a traditional, taxable share dealing account, here are four scenarios of how much Freetrade would cost based on trade frequency:
- 5 trades per year = £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
- 12 trades per year = £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
- 36 trades per year = £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
- 120 trades per year = £0 (Basic plan), £59.88 (Standard), £119.88 (Plus)
- 3 fund trades per year = N/A
| Feature |
 Freetrade
|
|---|---|
| Minimum Deposit | £1 |
| Share Trading: 0-9 Deals/ Month | £0 |
| Share Trading: 10-19 Deals/ Month | £0 |
| Share Trading: 20+ Deals/ Month | £0 |
| Annual Custody Fee: £0 - £250,000 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) |
| Annual Custody Fee: £250K-£500K | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) |
| Annual Custody Fee: £500,000 - £1m | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) |
| Annual Custody Fee: £1m and over | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) |
| Bonds - Corporate - Fee | N/A |
| Bonds - Government (Gilts) - Fee | N/A |
| ETFs - Fee | £0 |
| Investment Trusts - Fee | £0 |
| Telephone Dealing Fee | N/A |
What type of trader are you?
New to the world of investing? See my picks for the best UK trading platforms for beginners. More experienced traders should check out my guide to the best UK Trading Platforms for Active Traders. If you're looking to trade shares on the go, read my guide to the best UK stock trading apps.
Range of investments
Freetrade’s investment options are limited to stocks, ETFs and investment trusts. Having said that, there are more than 6,000 U.K., U.S. and European stocks and ETFs to choose from, so any investor should still find plenty of choice. Unlike some other platforms, though, Freetrade does not offer any ready-made portfolios for those looking for a quick way to diversify their investments.
Like eToro, Robinhood, and XTB, Freetrade also offers the chance to buy fractional shares – a great option for investors not wanting to commit much money when starting out. However, fractional share trading is only available on U.S. stocks, and not on U.K. and EU-listed shares or ETFs, which is a shame, but something Freetrade says it’s working on offering eventually.
| Feature |
Freetrade
|
|---|---|
| Share Trading | Yes |
| CFD Trading | No |
| ETFs | Yes |
| Funds | No |
| Bonds - Corporate | No |
| Bonds - Government (Gilts) | No |
| Investment Trusts | Yes |
| Spread Betting | No |
| Crypto Trading | No |
| Advisor Services | No |
Mobile trading apps
I like Freetrade’s mobile app, although it’s not as advanced as other platforms such as eToro, IG, or Interactive Investor, which offer better research and chart tools.
You can search for stocks or ETFs, see newly added funds, and what stocks or ETFs are popular that week. You can also see which companies have recently listed on a stock exchange through an IPO.
Companies are also organised by themes — e.g., gaming stocks or firms with female CEOs. This is uncommon among investment platforms and I found it an interesting way to find new companies around themes of interest to you.
However, I found there to be little research material. There is also no educational material on the app, such as written guides or videos explaining key investing terms or trends. I think this is an area where Freetrade could do better, following other platforms such as Interactive Brokers and eToro.
Tap for a demo of Freetrade's U.K. trading app.
Trading platforms
Freetrade has recently launched a web trading platform for all users, although it’s still officially in beta. Previously, the web platform was only available to people paying for the £11.99 monthly Plus account.
Elizabeth's take:
"Freetrade's website is easy to use. I particularly like the ‘discover’ page where you can view newly-added stocks or view companies by sectors such as big tech, dividend income, AI, or companies that are popular with investors that week."
When logged into my account, I can see my recent activity, top up my account, view my watchlist, and view my investments. Currently, there are no chart tools or ways to overlay different stocks or indices to compare recent historical performance. This is an area where I think Freetrade could improve, as rivals such as eToro or Trading 212 offer great chart options.
| Feature |
Freetrade
|
|---|---|
| Web Platform | Yes |
| iPhone App | Yes |
| Android App | Yes |
| Stock Alerts | Yes |
| Charting - Indicators / Studies | 0 |
| Charting - Drawing Tools | 0 |
| Charting - Notes | No |
| Charting - Display Corporate Events | No |
| Charting - Stock Overlays | No |
| Charting - Index Overlays | No |
Education
Freetrade offers a range of useful articles and guides on its website aimed at beginner investors. These include guides on what a stock is and how your investments are taxed. There are no official Freetrade educational videos, but many customers have uploaded user video guides on YouTube.
The educational material is aimed at novice investors. Those with more experience will find better research materials on other platforms such as Fidelity, Interactive Investor, and Interactive Brokers. Another downside is that there is no educational material or resources available on the app.
There is a community forum available through the Freetrade website where you can discuss investing ideas with other users.
| Feature |
Freetrade
|
|---|---|
| Education (Share Trading) | Yes |
| Education (Funds) | Yes |
| Education (Retirement) | Yes |
| Client Webinars | No |
| Client Webinars (Archived) | No |
Final thoughts
Overall, Freetrade is a great platform to help you get to grips with investing. You will not lose money to expensive charges, although the price of your chosen investment may go down, of course, as stock markets fluctuate.
Investors should be aware that investing in individual stocks is risky. You are better to diversify and get a better chance of good long-term returns by investing in funds or ETFs that invest in many companies worldwide. Freetrade does not offer mutual funds, commonly used by many investors looking to diversify, but it does offer ETFs that offer the same diversification opportunities.
Sophisticated investors may find other platforms offering a wider range of investment options and tools, such as the best brokers for active trading, more suitable. If you are looking to invest small amounts through an ISA, Trading 212 could be worth considering as it does not charge for its ISA, unlike Freetrade, which charges £5.99 a month.
Freetrade Star Ratings
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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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Our testing
Why you should trust us
Elizabeth Anderson has been a financial journalist for more than a decade. She’s written for major national newspapers, contributed to corporate reports and research, and reviewed dozens of share dealing platforms, SIPP providers, ISAs, and brokerage firms. Elizabeth started her career at Bloomberg and has worked for the BBC, The Telegraph, The Times and the i newspaper. She is passionate about helping people understand finance and investing. A keen investor herself, Elizabeth invests through general dealing accounts, ISAs and several SIPPs.
All content on UK.StockBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the U.K. brokerage industry.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test.
How we tested
At UK.StockBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and collect hundreds of data points while testing brokerage firms, share dealing platforms, SIPP providers, ISA providers, and other financial service providers relevant to U.K. investors.
Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:
- For Apple, we use MacBook Pro laptops running the latest version of and the iPhone 15 running the latest version of iOS.
- For Android, we use the Samsung Galaxy S23 Ultra devices running Android OS 14.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser.
Our researchers thoroughly test a wide range of key features, such as the availability and quality of trading platforms for web, desktop, and mobile, charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.
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About Freetrade
Freetrade launched in the U.K. in 2019 and reports that 1.5 million people have used its platform since that time, investing a total of £1.3 billion. Freetrade is growing quickly and is expanding across Europe. On January 16, 2025, Freetrade announced that they struck a deal with IG Group to be acquired for £160 million, a deal which still requires regulatory approval. Once acquired, the company says that it will remain independently operated by the same management team.
About the Editorial Team
Elizabeth Anderson, lead writer and researcher, has been a financial journalist for more than a decade. In addition to her work with UK.StockBrokers.com, she has written extensively for major publications including BBC, The Times and Bloomberg. A keen investor herself, she is passionate about helping people understand finance and investing.
Steven Hatzakis is the Global Director of Online Broker Research for UK.StockBrokers.com and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
Carolyn Kimball is a former managing editor for Reink Media and former lead editor for the StockBrokers.com Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.
Jeff Anberg is a Senior Editor at UK.StockBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.