Pensions & Retirement
Freetrade 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.
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4 min read
Freetrade helped pioneer commission-free investing in the UK. But with competition now fierce, does it still deserve your attention?
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 |