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Freetrade investment platform review
Is Freetrade any good?
Which? members can exclusively read the results of our unique customer satisfaction survey.
Members can log in to read our analysis. If you're not already a member, join Which? and get full access to these results and all our reviews.
What do customers say about Freetrade?
- ‘I've never experienced an issue with them and they offer plenty of green investment opportunities. Their tools and advisors make investing an easy and enjoyable experience. Overall they're a great, knowledgeable platform.’
- ‘I like being in control of my investments but with access to good information and data, and this works for me.’
- ‘I thought using the app would be more enjoyable and interesting than it turned out to be, but I'm satisfied with it.’
How much does Freetrade cost?
Customers can invest via a general investment account on Freetrade's fee-free membership tier, but must sign up to a paid tier to open a stocks and shares Isa.
Annual platform charge:
- No platform charge for its Basic tier
- £5.99 a month (or £59.88 a year) for Standard
- £11.99 a month (or £119.88 a year) for Plus
Trading charge:
- None
Foreign exchange charge
This applies to each trade of investments denominated in another currency, for example US stocks, on top of fund and trading charges.
- 0.9% for its Basic tier
- 0.39% for Standard
- 0.25% for Plus
How much would I pay to invest with Freetrade?
We've estimated the cost of investing over the course of a year in a Freetrade stocks and shares Isa if you sign up to its Standard tier. For each investment platform, we assumed that you'll make four purchases and four sales each year.
£5,000 | |
£10,000 | |
£25,000 | |
£50,000 | |
£100,000 | |
£250,000 | |
£500,000 |
Read our comparison of investment platform charges to see how much investing with Freetrade costs for a range of portfolios.
What can you invest in with Freetrade?
Freetrade accounts and services
- General investment account
- Stocks and shares Isa (not flexible)
- Self-invested personal pension (Sipp)
Investments on Freetrade?
- 350 investment trusts
- 515 exchange-traded funds
- 5,495 stocks
- 28-day UK treasury bills (on several maturity dates)
Correct as of January 2024
Is Freetrade good for ethical investors?
Freetrade doesn't allow you to filter its exchange-traded funds, and this includes filtering down to funds with ESG (environmental, social and governance) commitments.
There's also no additional detail on the ethical characteristics of these funds, such as top 10 holdings or ESG ratings.
- Find out more: Ethical investing explained
Is your money safe with Freetrade?
Freetrade is regulated by the Financial Conduct Authority and covered by the Financial Services Compensation Scheme (FSCS).
When you invest with an investment platform that's registered with the Financial Conduct Authority, your money will be ringfenced and should be returned if a company goes bust, without you having to wait alongside other creditors.
If ringfencing failed, you would be compensated by the FSCS.
The FSCS will cover up to £85,000 of investments per person, per platform. You can claim for free online; there's no reason to use a claims management company.
You won't be compensated for investments falling in value, or if a company in which you hold shares goes bust, unless this poor performance resulted from bad advice given by a regulated Independent Financial Advisor that has since gone bust.
- Find out more: How the FSCS works