as of 06/03/2020 at 10:26 am
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. Users can make basic trades or instant trades, with all basic trades placed at 3pm. Freetrade’s USP is in their name – basic trades are absolutely free. Instant trades cost a low £1 per trade. 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!
£0 minimum investment