Freetrade transformed the UK

DIY investing space on its launch in 2016, becoming the first provider to offer free share dealing to investors.

What we say

Holly's View

Holly has accounts with all the providers on our website and independently reviews all of them.

Freetrade transformed the UK DIY investing space on its launch in 2016, becoming the first provider to offer free share dealing to investors. Both the app and the company have come a long way since then and now offer ISAs and more recently a pension option. The app has been prone to the odd glitch; however these have been addressed quickly with notifications and updates on chat.

Holly MackayHolly Mackay
Holly MackayFounder and CEO Boring Money

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Overall Summary

Best Buy 2021

  • Best Buy for Digital ISA

Ease of use

The app has some handy features and a clear design. It is simple to navigate, with all necessary information easily accessible due to the tabs at the bottom of the screen. One slight criticism is the fund research, which can be frustrating to use and has limited features.

Mobile & Apps

Freetrade is a mobile only provider, with a strong, clear interface that allows users to trade effortlessly. It has been noticeably designed with smartphone users in mind, successfully emulating the style and efficiency that mobile users have become accustomed to in their daily lives.

Behind the scenes

We ran into a few glitches when setting up our account. But once the account was set up and funded it works smoothly enough and trading is straightforward. Tools to help customers benchmark and understand performance have been improved and play an increasingly more prominent role.

Investment Choice

Products

  • Stocks and Shares ISA

  • Investment Account

  • Pension

Investments available

  • Stocks and shares

  • Investment Trust

Investment help

  • Help building a portfolio

  • Pick your own funds

  • Pick your own shares

The 'Geeky' Details

Provider details

Freetrade is an innovative, commission-free, mobile trading platform. They launched on iOS in October 2018 and on Android in April 2019. The app is easy to use with a rapid set up time.

Stocks & shares ISAs cost £3 a month, whilst GIAs are free. The number of investment options for users is growing rapidly, with users now able to deal foreign shares, investment trusts and ETFs; as well as purchase fractional shares.

Freetrade Plus was recently launched at a price of £9.99 per month, providing users with a greater range of investments, alongside a special 3% interest rate on up to £4,000 cash and added features like setting limit orders on shares. The £3 monthly ISA charge is also included within the Plus membership. An individual that takes advantage of the full £4,000 at 3% interest will earn £120 across the year, which effectively offsets the £9.99 monthly membership charge.

Interestingly, Freetrade have also integrated a community forum directly into the app, so that customers can discuss individual stocks with each other, allowing them to delve deeper into their research and test hypotheses.

Important Facts & Figures

Provider Size:

Start-up

Minimum amounts:

£2 minimum investment

Freetrade