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as of 24/02/2021 at 5:30 pm
Freetrade does a good job of offering a low-cost, mobile-first trading app that is simple to use and looks slick. For investors who are happy to bulk trade once a day, this could be an amazingly cheap way to access the market, buying and holding 1 x ETF for £3 a month administration fee in an ISA. There are glitches and we have run into problems a few times, which have also been addressed quickly with notifications and updates on chat. Feels like there are a few teething issues behind the interface but it’s a nice service and has a loyal and social millennial following.
We score each provider on about 20 different criteria including cost, service, website, functionality, customer feedback and our experience of the service. All overseen by our PhD gonk!
Beginner Investor
Still in its infancy
Mobile only
Basic account and trades free
Don’t want to take our word for it? We ask existing customers and investors to rate their experience with the company – based on value for money, overall service and the website. We need at least 20 customer reviews before we add anyone to our Best Buys list.
Based on 47 reviews
Stocks and Shares ISA
Investment Account
Stocks and shares
Pick your own shares
The new kid on the block – Freetrade launched on iOS in October 2018 and on Android as recently as April 2019. The app is easy to use, with a rapid set up time and a strong user interface. The basic account is free, with a Stocks & Shares ISA priced at £3 per month. Freetrade gives you access to ETFs and Stocks, but has no ready-made options and don’t offer funds. Freetrade’s USP is in their name – trades are absolutely free. For frequent traders, this is a dream come true, representing huge potential savings when compared with more widely known providers.
On the flip side, that’s about all you can do. The research capabilities are severely limited, with only a basic interactive chart showing stock performance across different periods. For keen investors who like to even moderately understand a stock’s background before buying it; look elsewhere!
Provider Size: | Small start-up. |
Minimum amounts: | £0 minimum investment |