Holly Mckay
Holly MackayFounder and CEO
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Is Freetrade good for investing?

Freetrade review by Boring Money

15 Aug 2024

Freetrade

Freetrade

Freetrade

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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.

Holly MackayHolly Mackay
Holly MackayFounder and CEO Boring Money

*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

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Investments

Freetrade users can access a range of over 6,500 different investment options, including:

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

Freetrade has a Stocks & Shares ISA, where you can invest up to £20,000 every year completely tax-free.

There are over 6,500 shares and ETFs available with an ISA account, plus over 150 investment trusts. As noted though, there are no traditional funds available, so this may put off investors who prefer to build a portfolio with these in mind.

Freetrade ISAs with a Standard plan also come with 1% interest on uninvested cash (up to £2,000) with a Standard plan. This goes up to 3% up to a maximum of £4,000 if you open an ISA with a Plus pricing plan. Other Standard plan features include advanced analytical tools to help you research your investments.

Freetrade offers a pension, where you can invest up to £60,000 every tax year to put towards your retirement savings. Freetrade’s SIPP is only available with their Plus account, which costs £11.99.

Users get access to the same wide range of 6,000+ investments (no funds though!) and 0% commission trading, which will suit those with larger portfolios who are keen traders. Individuals with smaller pension pots may find this £11.99 per month charge – or alternatively £119.88 annually – significantly eats into their savings and so may not be worth it on a cost basis.

As part of the Plus pricing plan, Freetrade SIPPs come with some additional features. These include 3% interest (up to £4,000) on uninvested cash, the lowest FX charge of 0.39%, priority customer service, and advanced analytical tools to help you dig beneath the surface of what you’re investing in.

GIA accounts are available across all pricing plans – Basic, Standard and Plus. Therefore you can open and run a GIA for free with the Basic subscription, with no trading fees, making it a very attractive option for investors who prefer General Investment Accounts.

However, it’s important to remember that GIAs are not shielded from tax the way that ISAs are, so any returns or dividends you earn within a Freetrade GIA may be eligible for Capital Gains or Dividend Tax.

Therefore if you’re yet to use up your £20,000 annual ISA allowance, it may be a good idea to open a Stocks & Shares ISA instead of a GIA – although this would come with a minimum £5.99 per month charge as part of the Standard pricing plan. If low cost trumps all other concerns for you, then the GIA account could be a good fit – especially seeing as you get access to same investments either way.

That being said, a GIA account with a Basic plan gets you access to a slightly smaller range of 4.700 investments and users do not get access to certain premium features, such as analytical tools, interest on uninvested cash or priority customer service. To access these, you’ll need to pay for a Standard or Plus pricing plan.

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%

See how much it would cost you

Use the handy calculator below to calculate the cost of an account. Just select which type of account you want to use, type in the amount you want to invest and - hey presto! - our calculator will give you an estimate of how much it costs. Please note estimated fees are calculated excluding promotional offers.

Step 1. Select account type.

Step 2. Enter the amount you are looking to invest.

Estimated fees:

£59.88

+ Investment fees

Cost shown is the administration fee only. There may be additional third-party investment or fund fees, which depend entirely on what you pick. Expect these to add about 0.25% to 1% a year to the total cost.

The boring disclaimer bit

This is a free resource for our readers. We’ve tried really hard to ensure that these calculations are correct and can promise you there’s no monkey business or favouritism going on. But please don’t rely on these calculations without double checking yourself. If you do think you have seen an error please contact community@boringmoney.co.uk and help us to make this better. More information on the assumptions we've used to calculate these investment fees can be found here.

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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Freetrade

Your opinion matters!

Leave a review for Freetrade

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15 May 2025

Free to buy shares and ETFs,UK Company,has UK and US shares and others too,over all you cant really beat it on clean looks ease of use and cost.

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21 April 2025

Good platform for jumping into online investing. Excellent online support and Q&A

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26 November 2024

It's free to use

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.

Visit the Freetrade website for more information

Glossary

Not 100% sure you understand something we’ve written in this review?

Discover jargon-free definitions of the most common words and technical terms used in the world of investing.

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.

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