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Freetrade Review 2024

Written by
Fact checked by
Adam N.
Updated
1w ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
2,519 people chose this broker
Not available in United States; see best alternatives

Why choose Freetrade

Freetrade is a UK fintech startup offering a wide selection of commission-free stocks.

It provides free stock and ETF trading. Account opening is seamless, fully digital and really fast. The mobile trading platform is well-designed and user-friendly. It is a good choice for beginner investors.

At Freetrade, you can only trade stocks and ETFs. Research options cover only basic charting tools. Debit cards are available only for deposits, otherwise no bank card withdrawal is available.

BrokerChooser gave Freetrade a 4.4/5 rating based on analyzing 600+ criteria and testing via opening a live account.

  • Free stock and ETF trading
  • Easy and fast account opening
  • Great mobile trading platform

Explore the key metrics of Freetrade

Overall score
4.4/5
Minimum deposit
$0
Stock fee
Low
Inactivity fee
no
Account opening
1 day

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to Freetrade

US stock fee
Estimated commission of a $2,000 trade, assuming a $50 stock price

Fees

Score: 4/5
At Freetrade, you can trade stocks and ETFs free of charge. Also, there are no account, inactivity or withdrawal fees. However, there is a high, 0.45% fee for converting your funds to USD.
  • Free stock and ETF trading
  • No inactivity fee
  • No withdrawal fee

We compared Freetrade's fees with two similar brokers we selected, Trading 212 and eToro. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Freetrade alternatives.

Commission-free stock and ETFs

It’s extremely great as Freetrade has commission-free UK stock trading.

Broker
UK stock
Freetrade
$0.0
Trading 212
$0.0
eToro
$0.0
Freetrade stock and ETF commission

However, you need to choose the Freetrade Standard (or Freetrade Plus) account if you want to invest in non-UK stocks. This account has a monthly fee of £5.99 (Plus has a monthly fee of £11.99).

No inactivity fee, no withdrawal fee

It doesn't charge an inactivity fee. On the other hand, you should consider the following fees:

  • The currency conversion fee is the FX spot rate +/- 0.45%. Freetrade offers only GBP as a base currency, so a currency conversion fee is charged when you trade stocks/ETFs denominated in other currencies, e.g. USD or EUR.
  • There is no fee for the Freetrade Basic account. Freetrade Standard and Freetrade Plus have monthly fees of £5.99 and £11.99, respectively. Compare the different accounts.
  • There is a withdrawal fee (of £5) only for same-day withdrawal.
Broker
Inactivity fee
Withdrawal fee
Freetrade
$0
Trading 212
$0
eToro
$5
Freetrade inactivity, withdrawal and other fees

Safety

Freetrade is regulated by the UK's FCA, providing up to £85,000 of investor protection. On the negative side, it is not listed on a stock exchange and doesn't hold a banking license.
  • High level of investor protection
  • Top-tier regulator: UK's FCA
Read more

Deposit and withdrawal

Score: 3.8/5
Deposits and withdrawals are user-friendly and free. On the negative side, no credit cards are accepted and the only available base currency is GBP.
  • Free withdrawal
  • No deposit fee
  • User-friendly
Read more

Account opening

Score: 5/5
Account opening at Freetrade is fast, fully digital and user-friendly, and there is no minimum deposit. You can choose from 3 different account types.
  • Fast
  • Fully digital
  • No minimum deposit
Read more

Mobile app

Score: 4.7/5
Freetrade has a user-friendly and well-designed mobile trading platform, with an efficient search function. However, there are only two order types and you cannot set price alerts.
  • User-friendly
  • Two-step (safer) login
  • Good search function
Read more

Desktop platform

Freetrade does not have a desktop trading platform.
Read more

Product selection

Score: 2.3/5
Freetrade has a limited product portfolio that covers only stocks and ETFs. There are no other asset classes available, like mutual funds, bonds or options.
Read more
“I recommend Freetrade for long-term investors on the hunt for low fees and focusing on the UK and US markets.”

FAQ

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Author of this review

Tamás Gyuriczki

Investments • Stock Market • Market Analysis

As a financial expert with BrokerChooser, I play an integral role in the analyst team by actively reviewing many of the 100+ brokers that are listed on our site. I personally open accounts with real money, execute trades, test customer services. My hope is that my first-hand experience with these brokers, incorporated in our reviews, helps users find the most suitable broker for their needs.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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