Is Freetrade good for investing?
Freetrade review by Boring Money
Investment expert's opinion
Freetrade was one of the first upstart brands to challenge traditional players with a funky app, helpful info for share dealing, and very low fees. Acquired by IG in 2025, the mid-term outlook is not yet known although they say the brand will still operate independently. As more challengers come to market, so the first-movers can lose their points of differentiation and it's harder now to articulate what they do better than peers.
*This is the view of investment expert Holly Mackay based on her first-hand customer experience as a test account holder. This does not constitute regulated advice. You can read more about Holly's investments here.
Who is Freetrade?
Freetrade was acquired by IG in January 2025. It was founded in 2015 by Adam Dodds and Davide Fioranelli. Freetrade was created to make investing “simpler and more affordable” and states its aim is to “break down barriers and open up stock market investing to everyone”. It currently boasts over 1.4 million customers. Freetrade is a digital-only app and offers just three products - a Stocks & Shares ISA, a General Investment Account (GIA) and its own Freetrade pension (SIPP) - with a broad range of investment choices.
Who is Freetrade good for?
Freetrade is best for those who find trading a fun hobby and who want to build a portfolio, rather than use traditional funds – which aren’t available. It will also suit cost-conscious investors with £30k+ that want to track and manage their investments on the go with a seamless app. It’s not for those who want to build up larger, more diversified portfolios with funds or for those with a smaller ISA portfolio who may not find the fees to be particularly good value.
Pros and cons
Investments
Freetrade users can access a range of over 6,500 different investment options, including:
UK and Foreign Shares |
Funds |
Investment Trusts |
ETFs |
Bonds |
Crypto ETN's |
A key thing to note here is that you cannot invest in traditional funds with a Freetrade account – only ETFs. This is why it can be a good choice for investors keen on trading individual shares or ETF enthusiasts, but for those that want to build a portfolio based on a diverse range of funds, Freetrade is not the one for you.
Accounts
Stocks & Shares ISA | Pension (SIPP) | General Investment Account (GIA) | Lifetime ISA | Junior ISA |
✔ | ✔ | ✔ | X | X |
Fees and charges
The cost of investing with Freetrade depends on the type of pricing plan you choose – either Basic, Standard or Plus. Overall, Freetrade does not charge trading fees, but there are foreign exchange (FX) fees to be aware of for any international shares or investments.
Pricing Plan | Available Accounts | Charge | Trading Fee | FX Fee |
Basic | GIA | Free | Free | 0.99% |
Standard | GIA and Stocks & Shares ISA | £5.99/monthly | Free | 0.59% |
Plus | GIA, Stocks & Shares ISA, SIPP | £11.99/monthly | Free | 0.39% |
Customer Reviews
Freetrade operates as a digital-only app. Customers generally find the app up to a high standard and easy to use, enabling users to “easily navigate through the available options”. However, some customers feel that the customer service could be better and there could be more educational material to support learning about investing.
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Most asked questions
Is Freetrade safe?
Cash savings with Freetrade are covered by the UK government’s Financial Services Compensation Scheme (FSCS), which guarantees reimbursement up to the value of £85,000 per person in the event that Freetrade fails. Any amount above this threshold is unlikely to be covered. Investments with Freetrade, on the other hand, are not guaranteed - by their nature, investments can and will go up and down in value.
Who owns Freetrade?
Freetrade was acquired by IG Group Holdings plc (“IG”, “the Group”) in January 2025.
Is Freetrade a good investment platform?
Freetrade is a good choice for investors who want to use a GIA or who want a simple, fixed fee to invest in shares and ETFs without any extra trading charges. This can be great for GIA-only investors or those with larger portfolios, but can work out proportionately more expensive for smaller ISA and SIPP accounts compared to alternative providers on the investment market. The lack of funds on offer is also something to bear in mind if you’re looking to invest in these products.
Is the Freetrade app good?
Freetrade is a mobile first 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.
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.
Glossary
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Risk warning
As is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
All information in this review correct as at 01/01/2024.
