I’ve been following Freetrade since it’s inception and test out the app every time they have a big upgrade or product release. So, this review has been updated just after I interviewed Freetrade’s CEO Adam Dodds about their UK Treasury Bills offering. Over the years Freetrade has won a couple of Good Money Guide Awards, in 2019 Freetrade won “People’s Choice” and in 2012 “Best Commission Free Stockbroker”. I first interviewed Adam in 2018 and since then Freetrade has come along way. But, is Freetrade a good investing app and is trading really free?
Richard’s Review
Freetrade Review
Name: Freetrade
Description: Freetrade is one of the original and biggest commission free investing apps in the UK. It now offers, GIAs, ISAs and SIPPs to over 1.5million UK & European investors. It is possible can have a free account with end of day orders and limited stock data. Or you can upgrade to either a "standard" or "Plus" account for tax efficient accounts, web access, reduced FX charges and most stock data.
Is Freetrade a good investing app?
In my view, yes, Freetrade is a great investing app for those with a small amount of money who want a very low-cost way to start investing in UK and US shares and ETFs. As your portfolio grows you can upgrade for better execution and data. It’s most suited to medium and long-term investing.
Pros
- Zero commission
- No fees for a basic account
- Fractional shares
- UK Treasury Bills
Cons
- App only on the basic plan (no desktop)
- 0.99% FX fee for the basic account
- Relatively early stage company
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Pricing
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Market Access
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Online Platform
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Customer Service
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Research & Analysis
Overall
4.1Freetrade Facts & Figures
⬜ Public Company | ❌ |
👉 Number Active Clients | 1,600,000 |
💰 Minimum Deposit | £1 |
💸 Client Funds | n/a |
📅 Founded | 2018 |
Account Costs | |
Investment Account | £0 |
SIPP | £11.99 per month |
Stocks & Shares ISA | £5.99 per month |
Junior ISA | ❌ |
Lifetime ISA | ❌ |
Dealing Costs | |
UK Shares | £0 |
US Stocks | £0 + 0.99% FX (basic) |
ETFs | £0 |
Bonds | ❌ |
Funds | ❌ |
Customer Reviews
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 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.