Our top alternative brokers to Freetrade
Passfolio
4.3
Read review
Stake
4.4
Visit broker
Our top alternative brokers to Freetrade
Passfolio
4.3
Read review
Stake
4.4
Visit broker
Freetrade Alternatives

The best alternatives to Freetrade are

  1. Stake - Australia-based zero-fee discount broker
  2. Passfolio - Global zero-commission stockbroker

Let's see in a bit more detail how the Freetrade alternatives compare to Freetrade and each other:

Freetrade alternatives comparison
Freetrade Stake Passfolio
Overall score 4.4 4.4 4.3
Fees score 5.0 stars 4.8 stars 4.6 stars
Account opening score 5.0 stars 5.0 stars 5.0 stars
Deposit and withdrawal score 4.0 stars 3.7 stars 1.5 stars
Web platform score - 3.6 stars 3.7 stars
Markets and products score 1.6 stars 1.6 stars 2.0 stars
Visit broker Read review

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
  • Stake is recommended for beginners and investors looking for free us stocks/etfs and a simple, easy to use trading platform
  • Passfolio is recommended for beginners and long-term investors focusing on the us stock market

Important factors of finding Freetrade alternatives

So far BrokerChooser has reviewed 85 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
Stake

Founded in 2017, Stake is an Australia-based zero-fee discount broker specialized in US stocks and ETFs The brokerage is overseen by multiple top-tier regulators, including the Australian Securities and Investment Commission (ASIC) and the UK's Financial Conduct Authority (FCA). 

Stake is considered safe because it is regulated by top-tier regulators. In addition, Client assets are protected up to an amount of $500,000 ($250,000 cash) under the Securities Investment Protection Corporation's (SIPC) insurance. 

Stake operates in Australia, New Zealand, the United Kingdom, and Brazil. The core services are the same in these countries, but there are slight differences. In this review, we tested the UK services.

Recommended for beginners and investors looking for free us stocks/etfs and a simple, easy to use trading platform

Pros Cons
Free stock and ETF trading Basic product portfolio
Fast and fully digital account opening Limited availability of customer service
Easy-to-use trading platforms Lack of educational tools

Visit broker

Fees
4.8

Stake offers free stock and ETF trading on US markets. There is no inactivity fee, which is a big plus. On the negative side, deposit and withdrawal are not free of charge.
Pros Cons
Free stock and ETF trading Withdrawal fee
No inactivity fee
Transparent fee structure
Freetrade vs. Stake: Trading fees
Stake Freetrade
Apple benchmark fee $0.3 $0.3
Vodafone benchmark fee - $0.7
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

Visit broker More

Account opening
5.0

Stake has a very simple and easy account opening process. It takes only a few minutes to open an account.
Pros Cons
Fast None
Fully digital
Low minimum deposit
Freetrade vs. Stake: Minimum deposit, time to open an account
Stake Freetrade
Minimum deposit $50 $0
Time to open account 1 day 1 day

If you are interested more in Stake minimum deposit, this overview will help you.

Visit broker More

Deposit and withdrawal
3.7

You can top-up your account by bank transfer or credit/debit card in the case of AU clients. However, you can only withdraw your money in your local currency and you will be charged at deposit and withdrawal.
Pros Cons
Credit/Debit card available for AU, NZ customers Only one account base currency
$2 withdrawal fee
Freetrade vs. Stake: Withdrawal options
Stake Freetrade
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No Yes
Withdrawal fee $2 $0

Visit broker More

Web trading platform
3.6

Stake's web platform is simple and easy to use with a user-friendly design. However, it lacks some important features like price alerts or workspace customizability. At the time of the review, the web trading platform was available only for customers in Australia and New Zealand.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report No price alerts
Two-step (safer) login
Web trading platform of Stake, a Freetrade alternative
Freetrade vs. Stake: Trading platform scores
Stake Freetrade
Web platform score 3.6 stars -
Mobile platform score 4.1 stars 4.7 stars
Desktop platform score - -

Learn more about Stake's web trading platform in the detailed Stake review.

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Markets and products
1.6

Stake's product selection covers US stocks, ETFs, and US-listed ADRs. However, other popular asset classes like mutual funds, bonds, cryptos or options are not available at Stake.
Freetrade vs. Stake: Markets and products
Stake Freetrade
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund No No
Bond No No
Options No No
Futures No No
CFD No No
Crypto No No

Visit broker More

Verdict

Stake's fees are great. Clients can execute an unlimited number of stock and ETF trades free of charge and the broker doesn't charge an inactivity fee. The account opening is easy, fully digital and fast. It provides straightforward and well-designed trading platforms.

Stake has some drawbacks though: there are only US stocks and ETFs. There is no live customer service (no phone or live chat support). There are no educational tools available.

Stake is a good choice if you want to trade US stocks and ETFs for free on an easy-to-use trading platform. 

Below you can find links to all aspects of Stake in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Stake fees article.

What about the minimum deposit?

Our ultimate guide to the Stake minimum deposit is updated regularly.

How to start your Stake account?

Look no further than our evaluation of the Stake account opening.

How's their trading app?

Here's our expert view after checking the Stake trading app.

Is the quality of customer service satisfactory?

All you need to know about the Stake customer service.

Legit or scam?

Is Stake legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Stake is really free.

Is this broker good for beginners?

We checked it in Is Stake good for beginners.

Should you buy your silver bullets on Stake?

Research for silver bugs in the Silver buy on Stake guide

I want to trade options, are they available at Stake?

We explored the topic in Can you trade options on Stake?

Stake
Summary Stake is an Australia-based fintech startup that offers commission-free stock trading, regulated by the Australian Securities and Investment Commission (ASIC) and the FCA.
Fees score 4.8 stars
Recommended for Beginners and investors looking for free US stocks/ETFs and a simple, easy to use trading platform

Visit broker More

Freetrade alternatives
Passfolio

Passfolio, a global zero-commission stockbroker, is a young and ambitious brokerage founded in 2018. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In addition to the top-tier regulation, clients also enjoy additional investor protection under the SIPC policy of Passfolio's clearing firm for up to an additional $30 million (with a cash sub-limit of $900,000 per account), subject to an aggregate limit of $150 million.

Although Passfolio is a global broker, there is a distinct focus on Brazilian customers, as evidenced by the fact that a good portion of the content it offers is available in Portuguese. 

Passfolio is considered safe because it is regulated by top-tier authorities and offers extra protection to investors. 

Recommended for beginners and long-term investors focusing on the us stock market

Pros Cons
Free US stock and ETF trading Limited product portfolio focusing on US markets
Great mobile platform Deposit is not user-friendly
Fast and fully digital account opening Missing web and desktop platforms

Read review

Fees
4.6

Passfolio's fees are highly attractive as trading in all assets except fro cryptos is free of charge, provided the value of the trade reaches $5. On the other hand, most withdrawal options are subject to a fee.
Pros Cons
Free stock and ETF trading for products priced above $5 None
No account opening and maintenance fees
Freetrade vs. Passfolio: Trading fees
Passfolio Freetrade
Apple benchmark fee $0.3 $0.3
Vodafone benchmark fee - $0.7
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

Read review

Account opening
5.0

When made on a mobile device, the account opening at Passfolio is super fast and fully digital. The validation time is a mere 15 minutes. On the other hand, experience shows that validation can run into issues on the computer.
Pros Cons
Fully digital Verification can be buggy on desktop
No minimum deposit
Verification in 15 minutes
Freetrade vs. Passfolio: Minimum deposit, time to open an account
Passfolio Freetrade
Minimum deposit $0 $0
Time to open account 1 day 1 day

If you are interested more in Passfolio minimum deposit, this overview will help you.

Read review

Deposit and withdrawal
1.5

Passfolio's deposit functions are numerous and they all come free of charge. On the other hand, withdrawal is not free and the process of depositing funds is complicated.
Pros Cons
No deposit fee Credit/Debit card not available
Only one account base currency
Not user-friendly
Freetrade vs. Passfolio: Withdrawal options
Passfolio Freetrade
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No Yes
Withdrawal fee $0.25 $0

Read review

Web trading platform
3.7

Passfolio has just recently revealed their web trading platform, that is still in Beta. It is user-friendly and has a two-factor SMS verification. On the other hand, it is not customizable, has only a few order types, and no price alerts.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report Limited order types
Two-step (safer) login No price alerts
Web trading platform of Passfolio, a Freetrade alternative
Freetrade vs. Passfolio: Trading platform scores
Passfolio Freetrade
Web platform score 3.7 stars -
Mobile platform score 4.2 stars 4.7 stars
Desktop platform score - -

Learn more about Passfolio's web trading platform in the detailed Passfolio review.

Read review

Markets and products
2.0

In addition to cryptos, Passfolio offers stocks, ETFs, REITs and ADRs traded on US stock exchanges. Popular assets such as mutual funds, bonds and options are missing from the product portfolio.
Freetrade vs. Passfolio: Markets and products
Passfolio Freetrade
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund No No
Bond No No
Options No No
Futures No No
CFD No No
Crypto Yes No

Read review

Verdict

As an up-and-coming brokerage, the main attractive feature of Passfolio is its highly competitive fee structure. You can essentially trade free of charge with an amount exceeding $5, the deposit is free and the broker doesn't charge any account fees either. The mobile app is exceptionally user friendly and the account opening and validation was extremely fast.

On the negative side, the range of products is rather limited and customers have access solely to US markets (NYSE/NASDAQ). Depositing funds in your Passfolio account can prove to be a cumbersome process and all withdrawals carry a  price tag. Educational materials are pretty scarce, albeit some of high quality, and videos are only available in Portuguese.

Passfolio is ideal for non-U.S. investors looking for an easy-to-use platform to trade in US securities. 

Below you can find links to all aspects of Passfolio in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Passfolio fees article.

What about the minimum deposit?

Our ultimate guide to the Passfolio minimum deposit is updated regularly.

How to start your Passfolio account?

Look no further than our evaluation of the Passfolio account opening.

How's their trading app?

Here's our expert view after checking the Passfolio trading app.

Is the quality of customer service satisfactory?

All you need to know about the Passfolio customer service.

Legit or scam?

Is Passfolio legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Passfolio is really free.

Is this broker good for beginners?

We checked it in Is Passfolio good for beginners.

Should you buy your silver bullets on Passfolio?

Research for silver bugs in the Silver buy on Passfolio guide

I want to trade options, are they available at Passfolio?

We explored the topic in Can you trade options on Passfolio?

Passfolio
Summary Passfolio is a US-based commission-free stockbroker focusing on Brazil. It is regulated by both FINRA and SEC, and is available globally for clients.
Fees score 4.6 stars
Recommended for Beginners and long-term investors focusing on the US stock market

Read review

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
5.0

At Freetrade, you can trade stocks and ETFs free of charge. There are no account, inactivity or withdrawal fees.
Pros Cons
Low trading fees None
Low non-trading fees
Free stock and ETF trading
Freetrade alternatives trading fees
Freetrade Stake Passfolio
US stock $0.0 $0.0 $0.0
UK stock $0.0 - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

Account opening
5.0

Account opening at Freetrade is fast, fully digital and user-friendly, and there is no minimum deposit. You can choose from 4 different account types.
Pros Cons
Fast None
Fully digital
No minimum deposit
Freetrade alternatives minimum deposit and account open times
Freetrade Stake Passfolio
Minimum deposit $0 $50 $0
Time to open account 1 day 1 day 1 day

Learn more about Freetrade minimum deposit here.

Deposit and withdrawal
4.0

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 and alternatives withdrawal options and fees
Freetrade Stake Passfolio
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets Yes No No
Withdrawal fee $0 $2 $0.25

Web trading platform

At Freetrade, you can only trade through a mobile platform, web and desktop platforms are not available. We missed the web platform, which the company said would be set by the end of 2020.
Freetrade and alternatives trading platform scores
Freetrade Stake Passfolio
Web platform score - 3.6 stars 3.7 stars
Mobile platform score 4.7 stars 4.1 stars 4.2 stars
Desktop platform score - - -

Learn more about Freetrade's web trading platform in the detailed Freetrade review.

Markets and products
1.6

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 and alternatives markets and products
Freetrade Stake Passfolio
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex No No No
Fund No No No
Bond No No No
Options No No No
Futures No No No
CFD No No No
Crypto No No Yes

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.

Below you can find links to all aspects of Freetrade in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Freetrade fees article.

What about the minimum deposit?

Our ultimate guide to the Freetrade minimum deposit is updated regularly.

How to start your Freetrade account?

Look no further than our evaluation of the Freetrade account opening.

How's their trading app?

Here's our expert view after checking the Freetrade trading app.

Is the quality of customer service satisfactory?

All you need to know about the Freetrade customer service.

Legit or scam?

Is Freetrade legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Freetrade is really free.

Is this broker good for beginners?

We checked it in Is Freetrade good for beginners.

Should you buy your silver bullets on Freetrade?

Research for silver bugs in the Silver buy on Freetrade guide

I want to trade options, are they available at Freetrade?

We explored the topic in Can you trade options on Freetrade?

Freetrade
Summary Freetrade is a UK fintech startup offering a wide selection of commission-free stocks. Freetrade is regulated by the FCA.
Fees score 5.0 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.

Freetrade alternatives
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
Stake Australia-based zero-fee discount broker Beginners and investors looking for free US stocks/ETFs and a simple, easy to use trading platform
Passfolio Global zero-commission stockbroker Beginners and long-term investors focusing on the US stock market

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Bence András Rózsa

Author of this article

Bence’s purpose is to help you to understand the logic behind financial services. In his master’s studies, he specialised in business economy and finance to be able to give you a clear picture of the brokerage world. Having reviewed multiple brokers and robo-advisor services, his goal will always be to guide you in the world of investing as it is.

Bence András Rózsa

Broker Analyst

Bence’s purpose is to help you to understand the logic behind financial services. In his master’s studies, he specialised in business economy and finance to be able to give you a clear picture of the brokerage world. Having reviewed multiple brokers and robo-advisor services, his goal will always be to guide you in the world of investing as it is.

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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