Freetrade review
Best App Design
Modern investing app with a clean interface. Free basic account, ISA available for £5.99/month. Growing range of US and UK stocks.
Overview
Freetrade launched as the UK's answer to Robinhood — a beautifully designed investing app that makes buying stocks and ETFs simple and approachable. The basic account is free, but the ISA and premium features sit behind a monthly subscription.
Who Is Freetrade Best For?
- Beginners who want a clean, simple interface
- Casual investors buying a few stocks or ETFs monthly
- Design-conscious users — the app is genuinely beautiful
- US stock enthusiasts — growing range of NYSE and NASDAQ stocks
Fee Breakdown
| Plan |
Monthly Cost |
Includes |
| Basic |
£0 |
General investing account, limited stocks |
| Standard |
£5.99 |
ISA, full stock range, priority orders |
| Plus |
£11.99 |
SIPP, 3% interest on cash, all features |
| Fee Type |
Cost |
| Stock/ETF dealing |
£0 |
| ISA wrapper |
£5.99/month (Standard plan) |
| SIPP wrapper |
£11.99/month (Plus plan) |
| FX conversion |
0.99% |
At £5.99/month, the ISA costs £71.88/year. On a £10,000 portfolio, that is an effective fee of 0.72% — more expensive than Hargreaves Lansdown (0.45%). The subscription only becomes good value once your portfolio exceeds roughly £25,000.
The App Experience
This is where Freetrade genuinely excels. The app is the best-designed investing interface in the UK market:
- Clean, minimal design
- One-tap buying and selling
- Clear portfolio overview
- Price alerts and watchlists
- Community feed with investor discussions
Investment Range
The range has grown significantly since launch but still lags behind full-service platforms:
- UK and US stocks (growing)
- ETFs from major providers
- Fractional shares available
- No funds, bonds, or investment trusts
- Some stocks only available on paid plans
What Freetrade Lacks
- ISA costs money — unlike Trading 212 and InvestEngine where it is free
- Fewer stocks than competitors — growing but not comprehensive
- No research tools — very basic stock information
- FX fee of 0.99% — significantly higher than Trading 212 (0.15%)
- Limited to stocks and ETFs — no funds, bonds, or investment trusts
Freetrade vs Trading 212
This is the inevitable comparison — both are app-first, commission-free platforms:
| Feature |
Freetrade |
Trading 212 |
| ISA fee |
£5.99/month |
£0 |
| Stock range |
Smaller |
Larger |
| FX fee |
0.99% |
0.15% |
| App design |
Excellent |
Very good |
| Cash interest |
3% (Plus only) |
~4.2% |
| SIPP |
Yes (Plus) |
No |
Freetrade's one genuine advantage over Trading 212 is the SIPP option on the Plus plan. If you want app-based pension investing alongside your ISA, Freetrade is the only commission-free option.
The Bottom Line
Freetrade is a beautifully designed app with a solid investing experience, but the paid ISA and higher FX fees mean it is no longer the value leader it once was. Trading 212 offers a free ISA with a larger stock range, and InvestEngine offers free ETF investing. Freetrade's niche is the Plus plan with SIPP access and the best app design in the market — but you pay a premium for it.
Pros
- Beautiful, intuitive app
- Commission-free basic trades
- Fractional shares available
- Growing stock universe
Cons
- ISA costs £5.99/month
- Fewer stocks than competitors
- Limited research tools
- No SIPP