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Freetrade Review

as of 06/03/2020 at 10:26 am

Holly's View

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.

Our Rating

Recommended For

Beginner Investor

In a nutshell

Still in its infancy

Mobile only

Basic account and trades free

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Your overall rating

Based on 35 reviews

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What to Expect

Investment Choice

Products

Stocks and Shares ISA

Investment Account

Investments available

Stocks and shares

Investment help

Pick your own shares

The 'Geeky' Details

Provider details

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!

Important Facts & Figures

Provider Size:

Small start-up.

Minimum amounts:
£0 minimum investment

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