Investment Platforms UK 2026/27 — How to Choose a Broker, App or Robo-Advisor

Trading 212 vs Freetrade — Which Free Investing App Is Best?

Head-to-head comparison of Trading 212 and Freetrade. We compare fees, ISAs, investment range, and features to help you choose the right platform.

· · 4 min read

Two apps both claiming “free” investing. But which one is actually better for UK investors?

Quick Verdict

CategoryWinner
Overall costTrading 212
Free ISATrading 212
Investment rangeTrading 212
App designFreetrade
SimplicityFreetrade
Interest on cashTrading 212
SIPP availabilityFreetrade
Fractional sharesTie
Overall winnerTrading 212

Fee Comparison

Account Fees

FeeTrading 212Freetrade
General accountFreeFree
ISAFree£4.99/month
SIPPNot available£9.99/month
Annual ISA cost£0£59.88

Trading Fees

FeeTrading 212Freetrade
UK sharesFreeFree
US sharesFreeFree
ETFsFreeFree
FundsN/AN/A
Limit ordersFreeFree

Other Fees

FeeTrading 212Freetrade
FX (currency conversion)0.15%0.99%
WithdrawalFreeFree
InactivityNoneNone

Real Cost: Buying £1,000 of US Stock

PlatformTrading FeeFX FeeTotal
Trading 212£0£1.50£1.50
Freetrade£0£9.90£9.90

Trading 212’s FX fee is 85% cheaper.

Annual Cost: £10,000 ISA

PlatformAnnual Fee
Trading 212£0
Freetrade£59.88

Investment Range

CategoryTrading 212Freetrade
UK shares1,700+1,000+
US shares5,000+4,000+
European shares1,200+Limited
ETFs200+400+
Investment trustsSomeSome
Total instruments10,000+~6,000

Tiered Access (Freetrade)

TierAccess
Basic (free)~3,000 stocks
Plus (£4.99/mo)+ “Plus” stocks

Some popular stocks on Freetrade require the Plus subscription.

Winner: Trading 212 — more choice, no restrictions.

Feature Comparison

Core Features

FeatureTrading 212Freetrade
Fractional shares✅✅
Limit orders✅✅
Recurring investments✅ (Pies)✅
Dividend reinvestment✅✅
Price alerts✅✅

Unique to Trading 212

FeatureDetails
AutoInvest (Pies)Build custom portfolios
Interest on cashCompetitive rate
Securities lending opt-outTransparent
Web platformFull featured

Unique to Freetrade

FeatureDetails
SIPPPension available
Cleaner designMore intuitive
Community/socialSome features

App Design & Experience

AspectTrading 212Freetrade
Interface designGoodExcellent
Ease of useGoodExcellent
OnboardingSimpleSimpler
Information densityMore features = busierClean/minimal
Stock pagesDetailedStreamlined

Winner: Freetrade — widely considered the better-designed app.

ISA Comparison

FeatureTrading 212Freetrade
ISA feeFree£4.99/month
ISA allowance£20,000£20,000
Same investmentsYesYes
Transfers inYesYes
Transfers outYesYes

Winner: Trading 212 — free beats £60/year.

SIPP (Pension) Comparison

FeatureTrading 212Freetrade
SIPP availableNoYes
SIPP feeN/A£9.99/month
Tax reliefN/AAutomatic

Winner: Freetrade — it’s the only option.

Interest on Cash

FeatureTrading 212Freetrade
Interest on uninvested cashYesNo
RateCompetitiveN/A
CurrenciesGBP, EUR, USDN/A

Winner: Trading 212 — useful for cash between investments.

Research & Tools

FeatureTrading 212Freetrade
Company infoBasicBasic
Analyst ratingsNoNo
NewsLimitedLimited
ChartingBasicBasic

Winner: Tie — both are basic. Do research elsewhere.

Safety & Regulation

ProtectionTrading 212Freetrade
FCA regulated✅✅
FSCS protection£85,000£85,000
Client segregationYesYes

Both are equally regulated and protected.

Securities Lending

FeatureTrading 212Freetrade
Securities lendingYes (opt-out available)Yes
Your controlCan disableLess clear

Trading 212 is more transparent about lending.

Who Should Choose Which?

Choose Trading 212 If:

PriorityWhy
Lowest costFree ISA, low FX
Free ISANo monthly fee
More investmentsWider range
Interest on cashUseful feature
AutoInvest (Pies)Great for automation
US/international stocksMuch cheaper FX

Choose Freetrade If:

PriorityWhy
App designCleaner interface
SimplicityLess overwhelming
SIPP neededTrading 212 doesn’t have one
UK-focusedGood UK selection
Don’t mind payingISA fee isn’t a concern

Portfolio Size: Does It Matter?

Cost as % of Portfolio

PortfolioT212 Cost (% pa)Freetrade Cost (% pa)
£1,0000%6%
£5,0000%1.2%
£10,0000%0.6%
£20,0000%0.3%
£50,0000%0.12%

For small portfolios, Freetrade’s fee is proportionally large.

Use Case Scenarios

Scenario 1: Beginner with £100/month

FactorRecommendation
Best choiceTrading 212
WhyFree ISA, don’t pay fees on small amounts

Scenario 2: US Stock Enthusiast

FactorRecommendation
Best choiceTrading 212
Why0.15% FX vs 0.99% = significant savings

Scenario 3: Simplicity-First

FactorRecommendation
Best choiceFreetrade
WhyCleaner design, less confusing

Scenario 4: Need Pension + ISA

FactorRecommendation
Best choiceFreetrade
WhyOnly one with SIPP

Scenario 5: Passive ETF Investor

FactorRecommendation
Best choiceEither (or Vanguard)
WhySimilar for basic ETF investing

Migration: Switching Between Them

ISA Transfer

FromToProcess
FreetradeTrading 212In-specie or cash transfer
Trading 212FreetradeIn-specie or cash transfer

Both support ISA transfers, though in-specie (keeping investments) can take weeks.

The Bottom Line

VerdictTrading 212Freetrade
Best forCost-conscious, internationalDesign-focused, SIPP needed
Monthly cost£0£4.99-9.99
FX cost0.15%0.99%
OverallBetter valueBetter design

Our recommendation:

  • For most people: Trading 212 — the free ISA and lower FX fee make it better value.
  • For SIPP/pension: Freetrade — it’s your only option between these two.
  • For design purists: Freetrade — if the app experience matters most.

Sources

  1. FCA — Investing
  2. MoneyHelper — Investing