Investment Platforms UK 2026/27 — How to Choose a Broker, App or Robo-AdvisorFreetrade Review UK 2026 — Is Free Trading Really Free?
Complete Freetrade review covering fees, ISA, Plus subscription, available investments, and whether it's the right platform for UK investors.
Freetrade helped pioneer commission-free investing in the UK. But with competition now fierce, does it still deserve your attention?
If you want the wider comparison across investment apps, brokers, fee models, and managed alternatives, use the Investment Platforms hub.
Freetrade at a Glance
| Feature | Rating |
|---|
| Fees | ★★★★☆ |
| App design | ★★★★★ |
| Investment range | ★★★☆☆ |
| ISA | ★★★★☆ |
| Research tools | ★★☆☆☆ |
| Customer service | ★★★☆☆ |
| Overall | ★★★★☆ |
Account Types & Pricing
Basic (Free)
| Feature | Details |
|---|
| Monthly fee | £0 |
| Trading | Free |
| ISA | ❌ Not included |
| Stock universe | Basic only |
| Order types | Instant and limit |
| Fractional shares | Some |
Plus (£4.99/month — previously £5.99)
| Feature | Details |
|---|
| Monthly fee | £4.99 |
| ISA | ✅ Included |
| Stock universe | Basic + Plus stocks |
| Priority support | Yes |
| Interest on cash | Sometimes (check current) |
| Pro features | Some |
SIPP (£9.99/month)
| Feature | Details |
|---|
| Type | Personal pension |
| Fee | £9.99/month |
| Trading | Free |
| Stock range | Full range |
Fee Breakdown
Trading Fees
| Action | Cost |
|---|
| Buy UK shares | Free |
| Sell UK shares | Free |
| Buy US shares | Free |
| Limit orders | Free |
Other Fees
| Fee Type | Cost |
|---|
| ISA | £4.99/month (Plus required) |
| SIPP | £9.99/month |
| Currency conversion | 0.99% (FX fee) |
| Withdrawal | Free |
| Inactivity | None |
Real Cost Example
| Activity | Cost |
|---|
| Buy £500 US ETF | £0 trade + £4.95 FX = £4.95 |
| Annual ISA (no US) | £59.88 |
| Annual ISA (with US trades) | £59.88 + FX fees |
The 0.99% FX fee adds up for US/international investors.
What Freetrade Does Best
1. Beautiful App Design
Freetrade’s app is arguably the cleanest and most intuitive investing app in the UK:
| Design Element | Quality |
|---|
| Interface | Simple, uncluttered |
| Onboarding | Very beginner-friendly |
| Stock pages | Clean presentation |
| Portfolio view | Easy to understand |
If app design matters to you, Freetrade excels.
2. Simplicity
| Feature | Benefit |
|---|
| Limited choice | Not overwhelming |
| Clear pricing | Know what you pay |
| No complex products | No CFDs or leverage |
| Educational content | Helps beginners |
Freetrade deliberately keeps things simple — no confusing options trading or leveraged products.
3. UK Focus
| Feature | Details |
|---|
| UK equities | Good range |
| UK ETFs | Available |
| GBP pricing | Default |
| UK-focused content | Yes |
4. SIPP Available
Unlike Trading 212, Freetrade offers a pension:
| SIPP Feature | Details |
|---|
| Fee | £9.99/month |
| Tax relief | Claimed automatically |
| Same app | Invest alongside ISA |
| Transfers in | Available |
Where Freetrade Falls Short
1. ISA Requires Subscription
| Platform | ISA Cost |
|---|
| Freetrade | £4.99/month (£59.88/year) |
| Trading 212 | Free |
| Vanguard | Free |
| InvestEngine | Free |
For small portfolios, this fee significantly impacts returns.
2. Limited Investment Range
| What’s Missing | Notes |
|---|
| Many ETFs | Limited selection |
| Investment trusts | Few available |
| Bonds | Not available |
| Some global stocks | Only popular names |
Power users may find the selection restrictive.
3. High FX Fee
| Platform | FX Fee |
|---|
| Freetrade | 0.99% |
| Trading 212 | 0.15% |
| IBKR | 0.03% |
Buying US stocks costs significantly more on Freetrade.
4. No Instant Orders During Market Hours (Basic)
| Order Type | Basic | Plus |
|---|
| Instant orders | Limited | Yes |
| Limit orders | Yes | Yes |
Basic accounts have restricted instant trading.
5. Minimal Research
| Feature | Freetrade | Hargreaves Lansdown |
|---|
| Analyst ratings | None | Yes |
| Reports | Very basic | Comprehensive |
| News | Limited | Extensive |
| Screeners | None | Yes |
Do your research elsewhere — Freetrade is just for execution.
Freetrade Stock Universe
What You Can Buy
| Category | Availability |
|---|
| UK shares | ~1,000 |
| US shares | ~4,000 |
| ETFs | ~400 |
| Fractional shares | Many |
Tiered Access
| Tier | Access Level |
|---|
| Basic | ~3,000 stocks |
| Plus | Additional “Plus” stocks |
Some popular stocks require Plus subscription.
Who Is Freetrade Best For?
Ideal Users
| User Type | Why Freetrade Works |
|---|
| Beginners | Simplest interface |
| UK-focused investors | Good UK stock range |
| Design-conscious | Best-looking app |
| SIPP seekers | Pension + ISA in one app |
| Buy-and-hold investors | Simple, no distractions |
Not Ideal For
| User Type | Why |
|---|
| US/global investors | High FX fees (0.99%) |
| ETF enthusiasts | Limited range |
| Free ISA seekers | Must pay £4.99/month |
| Research-focused | Minimal tools |
| Cost minimisers | Trading 212 is cheaper |
Freetrade vs Competitors
| Feature | Freetrade | Trading 212 | Vanguard | HL |
|---|
| App design | ★★★★★ | ★★★★☆ | ★★★☆☆ | ★★★☆☆ |
| Trading fees | Free | Free | Free (own) | £11.95 |
| ISA fee | £4.99/mo | Free | Free | 0.45% |
| FX fee | 0.99% | 0.15% | N/A | 1% |
| SIPP | Yes (£9.99/mo) | No | Yes (free) | Yes (0.45%) |
| Stock range | Medium | Large | Small | Largest |
Is Freetrade Safe?
| Protection | Details |
|---|
| FCA regulated | Yes |
| FSCS protection | £85,000 |
| Segregated assets | Yes |
| Company status | Profitable? Variable — check latest |
Freetrade is properly regulated, but as a smaller fintech, some investors prefer more established firms.
How to Open a Freetrade Account
| Step | Details |
|---|
| 1. Download app | iOS or Android |
| 2. Sign up | Email and details |
| 3. Verify ID | Photo ID |
| 4. Choose account | Basic, Plus, or SIPP |
| 5. Fund account | Bank transfer |
| 6. Start investing | Browse and buy |
Is the Plus Subscription Worth It?
Calculate the Breakeven
| Portfolio Size | Plus Fee as % |
|---|
| £1,000 | 5.99%/year |
| £5,000 | 1.2%/year |
| £10,000 | 0.6%/year |
| £20,000 | 0.3%/year |
For small portfolios, that 5-6% fee drag is significant. For larger portfolios, it becomes negligible.
Plus Makes Sense If:
| Scenario | Worth It? |
|---|
| Portfolio over £5,000 | Probably |
| Need ISA wrapper | Yes (required) |
| Want Plus-only stocks | Depends |
| Portfolio under £2,000 | Probably not |
Alternative Strategy
| Action | Why |
|---|
| Use Trading 212 | Free ISA, similar features |
| Use Vanguard | Free, great for ETFs |
| Use Freetrade Basic | Free, no ISA |
The Bottom Line
Freetrade is best for: Beginners who value design and simplicity, and investors who want ISA + SIPP in one beautiful app.
Freetrade isn’t best for: Cost-minimisers (Trading 212 is cheaper), international investors (FX fee is high), or research-focused investors.
| Verdict | |
|---|
| Best feature | Beautiful, simple app |
| Worst feature | ISA costs £4.99/month |
| Best for | Beginners, design-lovers |
| Avoid if | You want free ISA or buy lots of US stocks |