The best alternatives to Freetrade are
- Trading 212 - Global CFD broker, but real stocks/ETFs are also available
- eToro - Global social trading broker
- Interactive Investor - UK stockbroker
- Hargreaves Lansdown - UK-based stockbroker
Let's see in a bit more detail how the Freetrade alternatives compare to Freetrade and each other:
| Freetrade | Trading 212 | eToro | Interactive Investor | Hargreaves Lansdown | |
|---|---|---|---|---|---|
| Overall score | 4.7 stars | 4.6 stars | 4.8 stars | 4.7 stars | 4.6 stars |
| Fees score | 4.7 stars | 4.0 stars | 4.3 stars | 3.5 stars | 3.2 stars |
| Account opening score | 5.0 stars | 4.5 stars | 5.0 stars | 5.0 stars | 4.6 stars |
| Deposit and withdrawal score | 4.0 stars | 4.3 stars | 3.8 stars | 4.3 stars | 3.8 stars |
| Web platform score | - | 4.4 stars | 4.4 stars | 4.3 stars | 3.7 stars |
| Markets and products score | 2.1 stars | 4.1 stars | 4.4 stars | 3.2 stars | 3.2 stars |
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Why are these brokers considered good alternatives to Freetrade? There are many areas based on which Freetrade can be compared with others. When we say a given online broker is a good alternative to Freetrade we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
Freetrade alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- Freetrade is recommended for long-term investors on the hunt for low fees and focusing on the uk and us markets
- Trading 212 is recommended for equity investors and cfd traders looking for easy-to-use trading platforms
- eToro is recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading
- Interactive Investor is recommended for beginners and investors focusing on the uk market
- Hargreaves Lansdown is recommended for beginners and buy-and-hold investors looking for great customer service and easy-to-use trading platforms
Important factors of finding Freetrade alternatives
So far BrokerChooser has reviewed 102 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether Freetrade or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Freetrade is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Freetrade alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Freetrade this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Freetrade, this might not be the case at its alternatives.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Freetrade alternative is a must.
Now let's dive into the details of how Freetrade and its alternatives perform in the most important areas!
Freetrade alternatives
Trading 212
Trading 212 is onboarding clients without a waiting list from the EEA region only. Customers from other eligible countries can join Trading 212's waiting list, but it may take a while until onboarding restrictions are lifted and the waiting list is scrapped.
Trading 212 is a global CFD broker, but clients can also trade stocks and ETFs free of charge. The company was founded in 2004 and is now headquartered in London. Trading 212 is regulated by the UK Financial Conduct Authority (FCA), the Cypriot Cyprus Securities and Exchange Commission (CySEC), and the Bulgarian Financial Supervision Commission (FSC).
Check out our Trading 212 review tailored to the needs of beginner investors and traders.
Trading 212 is considered safe as it is regulated by the top-tier FCA.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for equity investors and cfd traders looking for easy-to-use trading platforms
| Pros | Cons |
|---|---|
| • Real stocks and ETFs are commission-free | • Limited product portfolio |
| • Quick and easy account opening | • High forex fees |
| • Great trading platforms | • USD unavailable as account currency |
Fees
Trading 212 offers commission-free stock and ETF trading, and there are also no fees for deposit, withdrawal or inactivity. However, fees for forex trading are high.
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High forex fees |
| • No withdrawal and inactivity fee | • High financing rate |
| Trading 212 | Freetrade | |
|---|---|---|
| Apple benchmark fee | $14.2 | $0.3 |
| Vodafone benchmark fee | $15.3 | $0.8 |
| EURUSD benchmark fee | $15.2 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
The account opening process is straightforward, user-friendly and quick. Our account was verified within one business day.
| Pros | Cons |
|---|---|
| • Fast | • Problems with verification |
| • Fully digital | |
| • No minimum deposit |
| Trading 212 | Freetrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in Trading 212 minimum deposit, this overview will help you.
Deposit and withdrawal
Trading 212 offers many free deposit and withdrawal options. On the downside, there are only a few account base currencies available in each country, and you can't choose USD.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • USD unavailable as base currency |
| • Free withdrawal | • Few base currencies in each country |
| Trading 212 | Freetrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | No |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
Trading 212 has a user-friendly web trading platform with great features, like a safe two-step login or easy search. On the negative side, the platform is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Two-step (safer) login | |
| • Good search function |
| Trading 212 | Freetrade | |
|---|---|---|
| Web platform score | 4.4 stars | - |
| Mobile platform score | 4.9 stars | 4.7 stars |
| Desktop platform score | - | - |
Learn more about Trading 212's web trading platform in the detailed Trading 212 review.
Markets and products
Trading 212 focuses on CFDs (forex, stock, index, etc.) and real stocks/ETFs. As a result, popular asset classes like bonds, mutual funds, options or futures are missing.
| Trading 212 | Freetrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | No |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | Yes | No |
| Crypto | No | No |
Verdict
Trading 212 is primarily a CFD broker, regulated by multiple financial supervisory authorities.
On the plus side, Trading 212 offers commission-free stocks and ETFs, while most CFD fees and non-trading fees are low as well. The account opening process is seamless and the trading platforms are user-friendly.
However, Trading 212 has a limited product portfolio, lacking popular asset classes such as bonds or options. We found forex fees relatively high and missed USD as an account currency.
So is Trading 212 good? Trading 212 is a good choice for those interested in investing in equities or trading leveraged CFD products, using a great trading platform. As it offers a demo account, don't hesitate to give it a try.
| Trading 212 | |
|---|---|
| Summary | Trading 212 is a CFD broker regulated by the UK FCA, Bulgarian FSC, and Cypriot CySEC. Customers can invest in commission-free stock and ETF trading as well. |
| Fees score | 4.0 stars |
| Recommended for | Equity investors and CFD traders looking for easy-to-use trading platforms |
Freetrade alternatives
eToro
eToro is a well-known Israeli fintech company and a social trading broker, established in 2007.
Check out our eToro review tailored to the needs of beginner investors and traders.
eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC)-regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).
eToro is not listed on any stock exchange, does not disclose its annual report on its website and does not have a bank parent.
Being regulated by the top-tier FCA and ASIC is a good sign for eToro's safety.
HEADS UP: Minimum deposit based on residency and account activation – Be sure to check the minimum deposit that is required to activate your account. After uploading your documents, a deposit is also needed in order to make trades. The amount of the deposit required is based on your residency, and ranges from $10 to $10,000. More details are available in the review’s Account opening section.
eToro USA LCC does not offer CFDs, only real Crypto assets available.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High non-trading fees |
| • Seamless account opening | • Only one account base currency |
| • Social trading | • Customer support should be improved |
Fees
eToro offers free stock and ETF trading, while forex and CFD fees are low. On the negative side, non-trading fees are high, including a $5 withdrawal fee.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • Free stock and ETF trading | • $5 withdrawal fee |
| • Low forex and CFD fees |
| eToro | Freetrade | |
|---|---|---|
| Apple benchmark fee | $6.4 | $0.3 |
| Vodafone benchmark fee | - | $0.8 |
| EURUSD benchmark fee | $15.6 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Account opening at eToro is seamless and very fast, and the minimum deposit is relatively low for most countries.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| eToro | Freetrade | |
|---|---|---|
| Minimum deposit | $10 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in eToro minimum deposit, this overview will help you.
Deposit and withdrawal
Depositing money is easy, with a lot of available options, although there is a $5 withdrawal fee. As only USD accounts are available, you may pay a high conversion fee if you deposit or withdraw in another currency, like EUR or GBP.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Only one account base currency |
| • User-friendly | • $5 withdrawal fee |
| • Conversion fee for non-USD deposits |
| eToro | Freetrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | No |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $5 | $0 |
Web trading platform
eToro offers a user-friendly and well-designed web trading platform, where social trading is also available. On the other hand, the platform's customizability is limited.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| eToro | Freetrade | |
|---|---|---|
| Web platform score | 4.4 stars | - |
| Mobile platform score | 4.9 stars | 4.7 stars |
| Desktop platform score | - | - |
Learn more about eToro's web trading platform in the detailed eToro review.
Markets and products
At eToro, you can trade CFDs and forex, as well as real stocks, ETFs and many cryptos. Innovative services like social trading and Smart Portfolios are also available.
| eToro | Freetrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | No |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | Yes | No |
| Crypto | Yes | No |
Verdict
How does eToro work? eToro offers zero-commission stock trading. The account opening is swift and seamless. It has a lot of innovative features, like social trading and copying other (successful) traders. Furthermore, eToro offers many cryptos to trade.
It has some drawbacks, though. There is a $5 withdrawal fee and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high if your funding currency is not USD. It's difficult to contact customer support and their educational materials could be better.
So is eToro good? Overall, we would recommend eToro for its social trading feature, crypto offering and zero-commission stock trading. If you are a long-term stock investor, a traditional stockbroker might make more sense to you as some of the drawbacks of eToro (like not applying reduced withholding tax on US dividends) might outweigh the benefits of free trading.
Risk disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorized and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
| eToro | |
|---|---|
| Summary | eToro is a global social trading broker. It is regulated by top-tier authorities such as the UK FCA or Australia's ASIC. eToro USA LCC does not offer CFDs, only real Crypto assets available. |
| Fees score | 4.3 stars |
| Recommended for | Traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading |
Freetrade alternatives
Interactive Investor
Interactive Investor (ii) is one of the biggest UK stockbrokers, regulated by the Financial Conduct Authority (FCA). It was founded in 1995 and incorporated in its current form in 2003.
Interactive Investor was recently acquired by abrdn, a publicly-listed company that is also part of the FTSE 100 index.
Interactive Investor is considered reliable because it has a long track record and is overseen by a top-tier regulator.
Recommended for beginners and investors focusing on the uk market
| Pros | Cons |
|---|---|
| • User-friendly trading platforms | • Limited product portfolio |
| • Fast and easy deposit and withdrawal | • Basic charting and analytic tools |
| • Great phone customer service | • Monthly account fee |
Fees
Interactive Investor has average trading fees, including low fund fees, while regular investments are free. On the other hand, there is a monthly account fee.
| Pros | Cons |
|---|---|
| • Low fund fees | • Monthly account fee |
| • Regular investments are free |
| Interactive Investor | Freetrade | |
|---|---|---|
| Apple benchmark fee | $13.8 | $0.3 |
| Vodafone benchmark fee | $14.3 | $0.8 |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Opening an account with Interactive Investor is fast, fully digital, and involves no minimum deposit, but only UK addresses are accepted.
| Pros | Cons |
|---|---|
| • Fast | • Only UK residents accepted |
| • Fully digital | |
| • No minimum deposit |
| Interactive Investor | Freetrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in Interactive Investor minimum deposit, this overview will help you.
Deposit and withdrawal
Deposit and withdrawal are easy, quick and mostly free. On the negative side, electronic wallets and credit/debit cards are not accpeted for withdrawal.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • No credit/debit card withdrawal |
| • No deposit fee | |
| • Free withdrawal in GBP or EUR |
| Interactive Investor | Freetrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
Interactive Investor's web trading platform is user-friendly and easy to use, but the platform cannot be customized.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Investor | Freetrade | |
|---|---|---|
| Web platform score | 4.3 stars | - |
| Mobile platform score | 3.8 stars | 4.7 stars |
| Desktop platform score | - | - |
Learn more about Interactive Investor's web trading platform in the detailed Interactive Investor review.
Markets and products
Interactive Investor offers stocks, ETFs, funds, and bonds, but funds and bonds cover only the UK market.
| Interactive Investor | Freetrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | Yes | No |
| Bonds | Yes | No |
| Options | No | No |
| Futures | No | No |
| CFDs | No | No |
| Crypto | No | No |
Verdict
Interactive Investor is one of the biggest UK brokers, and is regulated by the top-tier FCA.
It has a user-friendly and well-designed web trading platform and mobile app. Deposit and withdrawal are easy and fast, and phone customer service is great, giving you quick and useful answers.
Interactive Investor has some drawbacks though. Its product offer covers only traditional products, like UK funds and a rather average selection of stocks. Technical research tools are limited, and there is a monthly account fee.
As there is no minimum deposit and you can use great trading platforms, feel free to try Interactive Investor.
| Interactive Investor | |
|---|---|
| Summary | Interactive Investor is a UK-based investment service provider. It is regulated by the top-tier FCA. |
| Fees score | 3.5 stars |
| Recommended for | Beginners and investors focusing on the UK market |
Freetrade alternatives
Hargreaves Lansdown
Hargreaves Lansdown is one of the biggest UK-based stockbrokers. It was founded in 1981 and is regulated by the top-tier Financial Conduct Authority (FCA). In addition, it is a listed company and a constituent of the FTSE 100, a stock index of the biggest listed companies in the UK.
Hargreaves Lansdown is considered safe because it has a long track record, is regulated by a top-tier authority, and is listed on a stock exchange.
Recommended for beginners and buy-and-hold investors looking for great customer service and easy-to-use trading platforms
| Pros | Cons |
|---|---|
| • Easy-to-use trading platforms | • High fees for stocks and ETFs |
| • High-quality educational tools | • Offline account opening for clients outside the UK |
| • Great customer service | • Only GBP base currency |
Fees
Hargreaves Lansdown has low fund and bond trading fees and there is no inactivity fee. However, the stock and ETF fees are high.
| Pros | Cons |
|---|---|
| • Low non-trading fees | • High stock and ETF fees |
| • Low fund fees | • Currency conversion fee |
| • No withdrawal fee | |
| • Low fees for funds and bonds |
| Hargreaves Lansdown | Freetrade | |
|---|---|---|
| Apple benchmark fee | $27.3 | $0.3 |
| Vodafone benchmark fee | $27.8 | $0.8 |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Hargreaves Lansdown's account opening process is quick and easy as long as you're in the UK and electronic verification works. If this fails or you live outside the UK, you have to send photocopied documents by post.
| Pros | Cons |
|---|---|
| • Fast | • Offline account opening for non-UK clients |
| • No minimum deposit | |
| • Fully digital for UK clients |
| Hargreaves Lansdown | Freetrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in Hargreaves Lansdown minimum deposit, this overview will help you.
Deposit and withdrawal
Depositing and withdrawing money is easy and free with a debit card or fast bank transfers at Hargreaves Lansdown. Unfortunately, accounts are available only in GBP.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Only one account base currency |
| • Free withdrawal | |
| • No deposit fee |
| Hargreaves Lansdown | Freetrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
Hargreaves Lansdown's web platform is user-friendly and easy to use. However, it lacks a two-step login and customizability.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Good search function |
| Hargreaves Lansdown | Freetrade | |
|---|---|---|
| Web platform score | 3.7 stars | - |
| Mobile platform score | 3.9 stars | 4.7 stars |
| Desktop platform score | - | - |
Learn more about Hargreaves Lansdown's web trading platform in the detailed Hargreaves Lansdown review.
Markets and products
Hargreaves Lansdown offers a lot of funds, and you can access a good number of stock markets. However, other products such as forex, CFDs, options or futures are not available.
| Hargreaves Lansdown | Freetrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | Yes | No |
| Bonds | Yes | No |
| Options | No | No |
| Futures | No | No |
| CFDs | No | No |
| Crypto | No | No |
Verdict
Hargreaves Lansdown is one of the biggest UK brokers and is regulated by a top-tier authority.
Its customer service is great, providing you with quick and relevant answers. The web and mobile trading platforms are user-friendly and the educational tools are high-quality.
It has some drawbacks though: it has high fees for stocks and ETFs, account opening for clients outside the UK is not fully digital, and there is only one base currency (GBP).
As there is no minimum deposit and no inactivity fee, Hargreaves Lansdown is a good choice for opening a trading account.
| Hargreaves Lansdown | |
|---|---|
| Summary | Hargreaves Lansdown is a UK broker, regulated by the top-tier FCA. The company is listed on the London Stock Exchange and is a constituent of the FTSE 100, a stock index of the biggest listed companies in the UK. |
| Fees score | 3.2 stars |
| Recommended for | Beginners and buy-and-hold investors looking for great customer service and easy-to-use trading platforms |
Freetrade alternatives
Freetrade
Freetrade is a UK-based fintech startup providing commission-free stock trading, regulated by the UK's Financial Conduct Authority (FCA). The company was founded in 2016.
Freetrade is considered safe because it is regulated by a top-tier regulator, the FCA.
Recommended for long-term investors on the hunt for low fees and focusing on the uk and us markets
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • Basic product portfolio |
| • Easy and fast account opening | • Limited research tools |
| • Great mobile trading platform | • Debit card only for deposits |
Fees
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.
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High currency conversion fee |
| • No inactivity fee | |
| • No withdrawal fee |
| Freetrade | Trading 212 | eToro | Interactive Investor | Hargreaves Lansdown | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 | $6.8 | $13.5 |
| UK stock | $0.0 | $0.0 | $0.0 | $6.8 | $13.5 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
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.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Freetrade | Trading 212 | eToro | Interactive Investor | Hargreaves Lansdown | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $10 | $0 | $0 |
| Time to open account | 1 day | 1 day | 1 day | 1 day | 1 day |
Learn more about Freetrade minimum deposit here.
Deposit and withdrawal
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.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Only one account base currency |
| • No deposit fee | • Debit card available only for deposits |
| • User-friendly |
| Freetrade | Trading 212 | eToro | Interactive Investor | Hargreaves Lansdown | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | Yes | Yes | No | No |
| Electronic wallets | Yes | Yes | Yes | No | No |
| Withdrawal fee | $0 | $0 | $5 | $0 | $0 |
Web trading platform
At Freetrade, you can only trade through a mobile platform, while desktop platform is not available, and web platform is available in beta version only for Freetrade Plus subscribers.
| Freetrade | Trading 212 | eToro | Interactive Investor | Hargreaves Lansdown | |
|---|---|---|---|---|---|
| Web platform score | - | 4.4 stars | 4.4 stars | 4.3 stars | 3.7 stars |
| Mobile platform score | 4.7 stars | 4.9 stars | 4.9 stars | 3.8 stars | 3.9 stars |
| Desktop platform score | - | - | - | - | - |
Learn more about Freetrade's web trading platform in the detailed Freetrade review.
Markets and products
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.
| Freetrade | Trading 212 | eToro | Interactive Investor | Hargreaves Lansdown | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | No | Yes | Yes | No | No |
| Funds | No | No | No | Yes | Yes |
| Bonds | No | No | No | Yes | Yes |
| Options | No | No | No | No | No |
| Futures | No | No | No | No | No |
| CFDs | No | Yes | Yes | No | No |
| Crypto | No | No | Yes | No | No |
Verdict
Freetrade's fees are great. Stock and ETF trades are free and there is no inactivity fee. Account opening is easy, fully digital and fast. You can use an awesome and user-friendly mobile trading platform.
Freetrade has some drawbacks, though: there are only US and UK stocks and ETFs available for trading. There aren't many research tools and you can't use credit/debit cards for transfers.
If you are looking for stock and ETF trading from the main UK and US exchanges for free and you prefer an easy-to-use mobile trading platform, Freetrade is a good choice.
| Freetrade | |
|---|---|
| Summary | Freetrade is a UK fintech startup offering a wide selection of commission-free stocks. Freetrade is regulated by the FCA. |
| Fees score | 4.7 stars |
| Recommended for | Long-term investors on the hunt for low fees and focusing on the UK and US markets |
Freetrade alternatives
Bottom line
Based on our analysis, there are several good alternatives to Freetrade. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| Freetrade | UK discount broker | Long-term investors on the hunt for low fees and focusing on the UK and US markets |
| Trading 212 | Global CFD broker, but real stocks/ETFs are also available | Equity investors and CFD traders looking for easy-to-use trading platforms |
| eToro | Global social trading broker | Traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading |
| Interactive Investor | UK stockbroker | Beginners and investors focusing on the UK market |
| Hargreaves Lansdown | UK-based stockbroker | Beginners and buy-and-hold investors looking for great customer service and easy-to-use trading platforms |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
