Freetrade is known for its low-cost, commission-free model allowing traders fractional shares, with regulation from the FCA. It also offers good-quality education accompanied by a solid, user-friendly, gamified mobile trading app.
Although Freetrade has low costs and pricing, there are a few negatives. Investment options and research are limited. They also lack an online trading platform, which is only in beta mode for Freetrade Plus members as of this writing. Hence, Freetrade lagged industry leaders in our review of best trading platforms in the U.K. Our take: Freetrade is one to watch for the future.
Freetrade pros & cons
- Hardly any hidden costs or fees and zero commission for trading major U.K. and U.S. shares (there is a forex fee for non-GBP deposits of spot + 0.45%).
- ETFs, stocks, investment trusts, fractional shares, REITs, and SPACs are all available to trade.
- Moderate educational offering.
- Easy-to-use mobile trading app.
- Limited research available, apart from market news and an emailed newsletter, Honey.
- Online trading platform is in beta and only available for Freetrade Plus members at time of publication.
- You cannot invest in bonds or funds.
About the Editor
Carolyn Kimball is managing editor for Reink Media and the 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. Read more about Carolyn.
About the Author
Steve Miley With 30 years of experience in institutional financial markets, Steve has won multiple awards from Technical Analyst Magazine, including "Best Independent Fixed Income" and "Best FX Research." In addition to his work with StockBrokers.com, Steve is the founder of The Market Chartist, where he provides market research for institutional clients; and is editor-in-chief for FXExplained.co.uk.