Freetrade offers four different types of accounts, General Investment Account, Stocks and Shares ISA account, Freetrade Plus Account, and Freetrade SIPP Account. Freetrade is FCA regulated with FSCS protection.
Freetrade at a Glance
| 🔎 Broker's Name | Freetrade |
| 📍 Headquartered | London |
| 📅 Year Founded | 2018 |
| ⚖️ Regulating Authorities | FCA |
| 🌐 Countries not accepted for trade | Freetrade ONLY accepts traders from United Kingdom, Germany, Sweden, Ireland, Netherlands, France. |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | No |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | No leverage offered |
| 💰 Minimum Deposit | No minimum |
| 💳 Deposit Options | Apple Pay, Google Pay, Wire Transfer |
| 💳 Withdrawal Options | Apple Pay, Google Pay, Wire Transfer |
| 💻 Platform Types | Own mobile platform app. |
| 📱 OS Compatibility | Android, iPhone, iPad. |
| 📈 Tradable assets offered | stocks and ETFs |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | English |
| 📆 Customer Service Hours | Between 6am and Midnight, Monday to Friday |
| 🚀 Open an Account | 👉 Click Here |
Overall Rating
4.7/5
Rated #– of
Recommended FX Brokers
Minimum DepositUSD 0
RegulatorsFCA
Freetrade mobile app
Yes
📈 Total Pairs
50+
Islamic AccountNo
Trading FeesLow
24 Hours
Choose your short section of our Freetrade Account Types below.
Freetrade Account types – 12 key points quick overview:
Freetrade at a Glance- Freetrade Account types – 12 key points quick overview:
- Freetrade Overview
- Freetrade Account Types
- Freetrade Account Features
- Freetrade Islamic Account
- Freetrade Demo Account
- Freetrade Islamic Account
- Freetrade Customer Reviews
- Freetrade Pros and Cons
- Conclusion
- Frequently Asked Questions
Freetrade provides low-cost trading on shares and ETFs and has a lot to offer with its intuitive mobile app and stock investing from as little as £2.
Freetrade Overview
Freetrade is a user-friendly Fintech trading broker with commission-free stock trading, ideal for millennials looking to invest in the US and UK stock markets on an app.
Freetrade was established in 2016 after securing investment through Crowdcube. The brokerage was launched in the United Kingdom in 2018 and is headquartered in London. It is authorized and regulated by the Financial Conduct Authority (FCA).
Freetrade provides low-cost trading on shares and ETFs and has a lot to offer with its intuitive mobile app and stock investing from as little as £2.
The company aims to make owning stocks easy and affordable and today more than 300 000 users trade with them. Currently, their mobile investing services are predominantly available in the UK, but the broker has plans to expand much further into Europe.
The firm is a member of the London Stock Exchange and its regulation by the Financial Conduct Authority (FCA) – a highly reputable regulator – gives the broker a strong trust rating.
The broker offers its own bespoke trading platform, which was developed in-house and sports uncomplicated design features, perfect for new investors. The trading terminal is currently only available as a mobile app, downloadable free of charge to any iOS or Android device.
The platform’s intuitive dashboard is very user-friendly, but experienced traders may find the lack of comprehensive analysis tools disappointing in comparison with other desktop platforms.
Freetrade offers an Invest Hub with educational tools and a supporting YouTube channel, and a community forum with trading insights that can answer frequently asked questions.
Clients can benefit from an IPO calendar, a newsletter, and articles explaining a range of topics, from penny stocks and exchange rates to tips on finding the best stocks to purchase.
Freetrade offers commission-free trading on over 1 000 stocks and ETFs from the London Stock Exchange and the New York Stock Exchange, as well as the option for fractional share trading that gives traders the option to buy and sell part of a share that may otherwise not be affordable to them. Freetrade also offers basic orders which can be placed after the market has closed.
Freetrade users can look forward to increased investment trusts becoming available on the app which will allow them to invest in multiple assets and offers a lower-cost alternative to mutual funds. Freetrade already has more than 30 investment trusts available to buy and sell on the app.
Freetrade Account Types
Freetrade offers four different types of accounts:
General Investment Account
This is a basic investing account for standard and fractional shares, along with ETFs.
Stocks and Shares ISA account
This is a tax-efficient investing account, with a £3 monthly fee and zero trading commissions.
Freetrade Plus Account
This is a premium account with 3% interest on cash, stop loss and limit orders, wider market access, and a £9.99 monthly fee.
Freetrade SIPP Account
This is a tax-efficient pension savings account with control over contributions, pension consolidations, and full account management, at a £9.99 monthly fee or £7.99 monthly fee for Freetrade Plus members.
Currently, accounts can only be opened in the UK and selected European countries. Investors must be older than 18 years and need to submit their NI number and bank account details for digital verification.
No minimum deposit is required to open an account.
Freetrade Account Features
Benefits of holding an account with Freetrade include dividends on stocks, fast withdrawals, built-in customer support via live chat, transfer/move ISAs from other accounts, simple and affordable stock trading through the free mobile app, FCA regulation with FSCS protection, and segregation of client funds and regular news and blog posts with upcoming app updates and features.
The broker does not provide an Islamic account or demo account to potential investors. With Freetrade fractional shares available for only £2 though, a demo account may not really be required.
Freetrade also does not offer leveraged trading, has limited analytics tools, and lacks web or desktop trading on top of its narrow range of trading products.
Freetrade Islamic Account
Freetrade does not offer traders who follow the Sharia law the option of an Islamic Account.
Often an Islamic account is provided as an option where traders can convert their live trading account to an Islamic Account, or in other cases, it is a standalone account with a separate application procedure.
Overall Rating
4.7/5
Rated #– of
Recommended FX Brokers
Minimum DepositUSD 0
RegulatorsFCA
Freetrade mobile app
Yes
📈 Total Pairs
50+
Islamic AccountNo
Trading FeesLow
24 Hours
Freetrade Demo Account
Freetrade does not offer traders the option to open a demo or practice account. Demo accounts can usually be utilized in several ways, including the following:
A practice account for beginner traders who wish to hone their trading skills and gain experience in a risk-free environment using virtual funds.
Traders who want to evaluate and compare brokers would like to explore Freetrade’s trading conditions in a risk-free environment.
Traders who want to test their trading strategies in an imitated live trading environment without risking their own capital.
Freetrade Islamic Account
The purpose of an Islamic Account is that it caters explicitly to Muslim traders who follow the strict rules of Sharia law. These rules prevent followers from paying any type of interest, such as overnight fees, which are seen as exploitive or wasteful.
Overnight fees are charged when traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should traders hold positions open for longer.
Brokers offer an Islamic Account only to Muslim traders who follow Sharia law. Traders must, however, take note that there are certain features indicated on the Islamic account which may differ vastly from the other individual account types, such as minimum deposits, spreads, and more.
Traders who are interested in registering for an Islamic account must contact the broker’s customer support team to verify the availability and current conditions of such an account as conditions may have changed from the time of writing.
Freetrade Customer Reviews
Really great way to start investing…
Really great way to start investing even for an old novice like me brilliant 👏
Excellent an easy way to invest….am a…
Excellent easy way to invest….am a pensioner and need easy-to-use apps and Freetrade is a perfect help
Great app for those new to trading
Great app for those new to trading. I can highly recommend it. Join me and invest with Freetrade. Get started with a free share worth between £3 and £200. T&Cs apply. Capital at risk.
Easy-to-use investment app
Easy-to-use investment app, making investing accessible to all, by scrapping the hefty fees charged by traditional brokers. Has quickly become my favorite account to invest with. Super friendly customer service, an evolving app, and an ever-expanding stock universe. Definitely recommend it to anyone looking to start investing or anyone else looking for a more convenient way to manage their current holdings.
Freetrade Pros and Cons
| ✔️ Pros | ❌ Cons |
| Easy and fast account opening process | Debit card only for deposits |
| Free stock and ETF trading provided | Limited research tools provided |
| Free withdrawal of funds | No demo or Islamic Account |
| Great mobile trading platform | Only one account base currency |
| Low trading fees charged | Basic product portfolio |
| No deposit fee charged |
Conclusion
Freetrade offers four different types of accounts, General Investment Account, Stocks and Shares ISA account, Freetrade Plus Account, and Freetrade SIPP Account. Freetrade is FCA regulated with FSCS protection.
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Frequently Asked Questions
What is the overall rating out of 10 for Freetrade?
The overall rating is 7/10.
How many instruments can I trade with a Freetrade account?
At Freetrade, you can only trade stocks and ETFs, and its products are limited to the US and UK markets.
Are there any apps available for a Freetrade trading account?
Yes, Freetrade is a smartphone-app-based investment platform
Does Freetrade have ZAR accounts?
According to research in South Africa Freetrade is a user-friendly Fintech trading broker with commission-free stock trading, ideal for millennials looking to invest in the US and UK stock markets on an app.
Does Freetrade offer leverage?
No, Freetrade does not offer leveraged trading.
