In this review, we look at Freetrade’s stocks and shares ISA offering, account options, fees and more. Whether you’re a beginner investor or an expert stock picker, our review will help you decide if Freetrade is the right investment platform for you.
Freetrade ISA Review: Flexible, but not quite free
Account: Freetrade ISA
Description: Freetrade offers access to over 6,200 stocks, investment trusts, and ETFs. The stocks include UK, US, and European equities while the ETFs include index funds, leveraged ETFs, and thematic ETFs. Freetrade has shaken up the UK retail investment market in recent years. Offering zero commissions on share trades, it has been stealing market share from legacy ISA platforms such as Hargreaves Lansdown, AJ Bell, and Interactive Investor.
Is Freetrade's ISA any good?
One of the advantages of Freetrade’s ISA is that it is a flexible one. That means you can withdraw money from your Freetrade ISA and, provided you return it within the same tax year, won’t lose that part of your allowance. This means that if you are short of cash for any reason, you can access you money (once you liquidate your investments) and use it for emergencies.
You can also invest in UK Treasury bills and cash investments through its platform. So, there are options for those seeking lower-risk investments.
To access the full list of stocks you need to sign up for a Freetrade Premium plan. Through the Freetrade Basic plan you can only access around 4,700 stocks.
Pros
- Great app
- Simple to use
- Low cost
Cons
- ISAs are not free
- Limited order types
- Limited desktop functions
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Pricing
(5)
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Market Access
(4.5)
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App & Platform
(5)
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Customer Service
(5)
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Research & Analysis
(5)
Overall
4.9
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
