Freetrade provides zero-commission trading in UK and US shares with free ISA and SIPP accounts, but its 0.99% currency conversion fee raises costs on overseas holdings.
Written by StockEmber Team · Updated Oct 21, 2026
Researched with AI assistance and verified by our editors
This Freetrade review tests the platform on cost, safety, and ease of use for UK investors. Freetrade delivers commission-free investing across more than 8,600 UK and US shares, funds, and ETFs with free ISA and SIPP accounts, though foreign currency purchases face a 0.99% conversion markup.
Freetrade was founded in London in 2015 as a technology-first stockbroker designed to eliminate dealing commissions for British retail savers. The operating brokerage, Freetrade Limited, is regulated by the UK Financial Conduct Authority (FRN 783189). Client shares are secured under nominee custody arrangements via Freetrade Nominees Limited and US clearing firm DriveWealth LLC. On April 1, 2025, Freetrade was acquired by IG Group Holdings plc, a constituent of the London Stock Exchange, providing institutional corporate backing while continuing operation under its standalone consumer brand.
Licensed & regulated
FCA
Money protected
£85k FSCS
You own the shares
Nominee
Track record
11 yrs · Private
GB · FSCS
£85k
Commission
£0 commission
Account minimum
Not stated (ISA/SIPP accounts can be opened with no minimum deposit)
Est. 10-year cost
~$455
Markets
Stocks · ETFs · Mutual funds · REITs · Bonds
Fractional
Real owner not transferable
Tax wrappers
UK: ISA · UK: Junior ISA · UK: SIPP
UK beginners and regular ETF dollar-cost averagers building wealth inside commission-free ISA or SIPP wrappers.
Active technical traders needing multi-currency balances, pre-market access, or advanced charting tools.
Regulated by the UK FCA with £85,000 FSCS protection and backing from parent company IG Group.
Freetrade Limited is authorized and regulated by the FCA (FRN 783189), which is the first check to make before opening an account. Eligible cash and securities are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person if the firm fails. You can verify this authorization directly on the official FCA Financial Services Register before funding your account.
Corporate transparency is backed by parent company IG Group Holdings plc, which acquired Freetrade on April 1, 2025. While Freetrade operates as a dedicated subsidiary, its group owner is listed on the London Stock Exchange. Based on publicly available FCA records, Freetrade's clearest regulatory blemish in recent years occurred in February 2022, when the FCA issued a supervisory notice requiring Freetrade to take down paid social media influencer promotions that lacked proper capital-at-risk disclosures. No monetary penalty or operating suspension was imposed.
Assets are held under a segregated nominee structure with named custodians and in-specie transfer capabilities.
When you purchase securities through Freetrade, you remain the beneficial owner of your holdings at all times. Legal title to UK assets is registered in the name of Freetrade Nominees Limited, a dedicated non-trading nominee company, while US equities are custodied overseas through DriveWealth LLC. This segregated structure keeps your investments separate from Freetrade's own corporate balance sheet.
You can transfer your full shares to another brokerage without liquidating them (an in-specie transfer). UK share transfers out are completely free, while US holdings cost £17 per position to cover intermediary clearing fees. If you hold fractional shares, however, you cannot transfer those fractions directly; you must sell them for cash before moving funds. Freetrade also runs an optional share lending program that you can opt in or out of at any time, sharing generated lending income while maintaining daily collateral equal to the value of lent securities.
Zero commission and free account maintenance, but a 0.99% FX markup applies to overseas stock purchases.
Our Freetrade review found that the headline £0 commission is only part of the cost picture. If you invest $300 each month in UK equities, Freetrade costs virtually nothing in baseline trading fees. Trade commissions are $0, account custody is free, and standard general investment account (GIA), ISA, and SIPP wrappers carry no monthly platform charge on the Basic tier. Over our 10-year model of 121 recurring trades, execution commissions total exactly $0.
Access to 8,600+ UK, US, and European shares, ETFs, investment trusts, and gilts, but no multi-currency balances.
Freetrade provides access to more than 8,600 stocks, funds, ETFs, and other instruments (Freetrade's own homepage also cites 9,000+ investment choices) covering the London Stock Exchange, the New York Stock Exchange, Nasdaq, and primary European bourses. Long-term investors can construct a globally diversified portfolio using over 1,100 ETFs from managers like Vanguard and BlackRock iShares, alongside individual equities, investment trusts, and UK government bonds (gilts).
However, market access has clear boundaries. You cannot open multi-currency cash balances, so holding uninvested USD or EUR is impossible. Fractional trading is enabled only for US shares, leaving UK equities subject to whole-share purchases. Freetrade also does not support corporate bond trading, futures, or complex derivatives, which keeps the catalog accessible for retail investors but restrictive for multi-asset specialists.
Clean mobile-first interface on iOS, Android, and web, offering straightforward execution without advanced technical tools.
The Freetrade app is the main way to trade. Freetrade was built as an app-first broker, and its mobile platforms on iOS and Android are simple and easy to navigate, though the toolset is basic. You can discover stocks, set recurring monthly deposits, and view portfolio balances within seconds. In addition to mobile apps, Freetrade offers a web trading platform with full feature parity for account discovery, transaction review, and basic order execution.
Commission-free order routing without PFOF, offering standard market, limit, and stop triggers during market hours.
When you submit an order on Freetrade, your trade is routed directly to market makers and retail service providers without payment for order flow (PFOF). Because UK FCA regulations prohibit PFOF, Freetrade does not sell your order stream to wholesale market makers for rebates. You receive direct execution during standard London and New York market hours.
Available order types cover instant market orders, limit orders, and stop-loss triggers. However, conditional complex structures like trailing stops or one-cancels-the-other (OCO) orders are absent. Extended-hours trading before the market opens or after the closing bell is not supported, meaning your orders will only execute while official exchanges are open for regular trade.
Free UK Stocks and Shares ISA, JISA, and SIPP wrappers with automated digital W-8BEN filing.
The Freetrade ISA lets UK tax residents hold shares and ETFs in a tax-advantaged account. For UK retail savers, Freetrade provides three registered tax-sheltered accounts: a flexible Stocks and Shares ISA, a Junior ISA (JISA) for your children, and a Self-Invested Personal Pension (SIPP). In this Freetrade SIPP review, the key point is cost: all three wrappers carry no subscription charge on the Basic tier, a low-cost route to holding individual equities in a pension.
Instant UK deposits via Faster Payments with no stated deposit fee, standard withdrawals taking around 2-3 business days, and no stated general minimum deposit.
The Freetrade withdrawal time depends on your plan, as the details below show. Adding funds to your Freetrade account is fast for UK residents, with no stated deposit fee. By leveraging UK Faster Payments (FPS) through Open Banking and bank debit transfers, cash deposits generally appear in your available balance within seconds. Standard bank withdrawals back to your linked UK personal account carry no stated withdrawal fee, though Freetrade's own pricing pages note that other charges may apply, and typically take 2-3 business days to clear, with up to 5 business days in some cases; Plus plan customers can receive same-day withdrawals for requests submitted before 2 p.m.
Practical beginner educational guides and market commentary, but lacks institutional third-party equity research.
Freetrade tailors its research tools toward newcomers rather than Wall Street analysts. Through its Invest Hub and blog, you can access clear explainers on compound interest, ISA tax rules, retirement planning, and fundamental ratios. The platform also publishes a market commentary newsletter called the Weekend Read, which breaks down financial headlines into plain English.
Where the platform falls short is quantitative research depth. You will not find institutional research reports from firms like Morningstar, Refinitiv, or S&P. In-app data is limited to high-level financial figures such as market capitalization, trailing price-to-earnings multiples, and dividend yields. Freetrade avoids gamification mechanics like digital confetti or prize wheels, maintaining responsible risk warnings across its user interface.
Digital support via in-app chat and email, with formal dispute escalation through the UK Financial Ombudsman Service.
If you require customer assistance, Freetrade operates primarily through digital channels. You can reach support by email on the Basic plan, while Standard and Plus plan customers can also message support directly through the app. Freetrade does not publish specific support hours for Basic and Standard plans; Plus subscribers get documented support hours of 6:00 AM–9:00 PM and priority routing in the queue.
Some users on Trustpilot and retail investment forums report that replies to standard inquiries can take a day or two, with longer waits around the tax-year-end peak; these are individual users' opinions, not Freetrade's stated service levels. Freetrade does not provide inbound telephone assistance, which may frustrate customers who prefer verbal troubleshooting. For unresolved disputes, UK account holders retain the legal right to escalate complaints to the Financial Ombudsman Service (FOS).
Freetrade Limited provides retail brokerage accounts exclusively to individuals aged 18 and older who are resident in the United Kingdom for tax purposes, hold a UK bank account, and are not US persons.
Final verdict: after weighing the fees, protections, and features, here is where this Freetrade review lands. Freetrade is an appealing retail platform for British buy-and-hold investors who want zero-commission execution inside tax-free ISA and SIPP accounts without recurring platform fees. Its clean mobile app, automated W-8BEN handling, and fractional US shares lower the barriers to entry for regular savers.
The primary compromise lies in international trading costs, as the 0.99% FX markup on the Basic tier adds friction to overseas stock portfolios. For domestic UK equity and UCITS ETF portfolios, however, Freetrade provides genuine cost efficiency backed by Tier 1 FCA regulation.
If your primary investment strategy involves regular monthly contributions into UK-listed equities and low-cost UCITS (the European regulated fund standard) index funds inside an ISA or SIPP, Freetrade is a low-cost fit: our 10-year model shows $0 in commissions and custody fees for UK-listed assets. The absence of dealing fees and custody charges means small contributions compound without being eroded by administrative costs. Conversely, if you trade international equities frequently, desire to maintain uninvested USD cash balances, or depend on technical charting packages, regional multi-currency brokers will better accommodate your workflow.
Freetrade is wholly owned by IG Group Holdings plc, which completed its acquisition of the platform on April 1, 2025. IG Group is a publicly listed financial firm on the London Stock Exchange, providing corporate financial stability while Freetrade continues operating as a separate retail brand under its existing Financial Conduct Authority regulation.
Freetrade generates revenue through multiple streams, including foreign exchange conversion fees on international trades (0.99% on the Basic tier), premium subscription plans (Standard at £4.99 per month and Plus at £9.99 per month billed annually), interest earned on uninvested client cash balances, and its optional share lending program.
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Bottom line: Freetrade provides genuine Tier 1 British regulatory oversight and FSCS investor-compensation cover of up to £85,000 per person if the firm fails.
“Strong statutory protection through the FCA and FSCS gives UK long-term investors adequate regulatory security.”
Bottom line: Freetrade utilizes a standard UK nominee custody model that protects ownership rights while allowing cost-effective transfers.
“Using designated nominee entities alongside established US clearing partners ensures clean asset separation for long-term holders.”
The catch is international investing. Freetrade does not allow you to hold foreign currencies in cash, forcing an immediate currency conversion on every non-GBP trade. As of October 2026, the foreign exchange markup on the free Basic plan is 0.99% above spot rates. Across our 10-year benchmark of $46,000 in foreign asset purchases, this currency charge adds $455.40 in total frictional costs.
Upgrading to Standard (£4.99 per month billed annually) or Plus (£9.99 per month billed annually) lowers the FX rate to 0.59% or 0.39%, but for small monthly contributions, the subscription fee outweighs the currency savings.
What you will pay over 10 years
~$455over 10 years
Commission drag
~$0
$0 × 121 buys
Custody + annual fee
~$0
no fee charged
FX conversion
~$455
0.99% × $46,000
Total
~$455
Across our 10-year model ($10,000 initial investment, $300 monthly additions across 121 buys, $46,000 total capital deployed, and $28,000 average portfolio value), Freetrade charges $0 in dealing commissions, $0 in custody fees, and $0 in annual account fees on its Basic plan. The sole cost component is currency exchange. When buying international securities, the 0.99% FX markup on $46,000 in purchases results in $455.40 in cumulative charges over 10 years. Total 10-year holding cost equals $455.40. Investors trading strictly UK-listed assets pay $0 in Freetrade commissions, custody fees, or FX fees over the full decade, although costs outside the platform, such as UK stamp duty on share purchases, fund charges, and bid-offer spreads, still apply.
Bottom line: Freetrade charges no dealing commission or custody fee on domestic UK assets, but frequent US equity buyers face noticeable FX friction.
“Zero commission makes buying domestic shares genuinely costless, though foreign stock investors must budget for the 0.99% conversion markup.”
Bottom line: Freetrade covers mainstream equity and ETF needs for UK investors but lacks multi-currency holding accounts.
“A catalog of 8,600+ stocks and low-cost UCITS ETFs fits long-term buy-and-hold strategies, though non-GBP investors have no multi-currency flexibility.”
The trade-off for simplicity is an absence of advanced analytical tools. You will find basic price charts, but there are zero technical indicators, drawing utilities, or interactive charting studies. Portfolio analytics show your overall performance percentage and net return without providing deep tax-lot attribution or sector risk analysis. Price quotes on the free tier may carry a 15-minute exchange delay during standard market trading.
Bottom line: Freetrade offers an intuitive platform for straightforward buy-and-hold investing, but active chart analysts will need external charting software.
“A distraction-free design simplifies regular contributions, though the absence of technical charting reflects its beginner focus.”
Bottom line: Execution routing is clean and free of PFOF conflicts, catering well to long-term cash buyers.
“Direct routing without order-flow monetization guarantees conflict-free execution for routine retail trades.”
Tax documentation is streamlined within the app. UK investors trading US securities complete an automated electronic W-8BEN form upon account onboarding, reducing standard US dividend withholding tax from 30% to the 15% treaty rate automatically. At the end of the tax year, Freetrade issues a downloadable consolidated tax pack for HMRC Self Assessment. The platform does not, however, offer an automated dividend reinvestment plan (DRIP), so dividend payments arrive as cash that you must reinvest manually.
Bottom line: Freetrade offers a solid tax-advantaged account suite for UK investors, with the ISA, Junior ISA, and SIPP available without a platform subscription fee on the Basic plan.
“Offering an ISA and SIPP without annual platform charges makes Freetrade exceptionally competitive for UK retirement savers.”
Where Freetrade imposes friction is its currency architecture. There is no multi-currency balance support, meaning non-UK cash is immediately converted to GBP. Same-day withdrawals are only available automatically on the Plus plan; Basic and Standard plan customers use the standard 2-3 business day process. Freetrade does not publish a general minimum deposit, so the account opening and funding barrier is low.
Bottom line: Funding carries no stated fee on UK domestic banking rails and is typically instant; standard withdrawals take a few business days, offset further by forced GBP currency conversions.
“Integration with UK Faster Payments allows zero-fee, rapid domestic deposits without capital barriers, though withdrawals follow a multi-day standard process outside the Plus plan.”
Bottom line: Freetrade provides helpful beginner educational guides but leaves analytical investors to source equity research elsewhere.
“Educational articles explain long-term principles cleanly, though the lack of professional research reports limits valuation analysis.”
Bottom line: Customer service is digital-only and adequate for administrative queries, but lacks immediate phone assistance.
“A digital chat-first model keeps operational overhead low, though users must accept email-speed resolutions for complex issues.”
Freetrade pays interest on uninvested cash held in an ISA, but the rate varies by subscription tier. As of October 2026, the free Basic plan pays 1.00% AER on balances up to £1,000, while Standard pays 2.50% AER up to £2,000, and Plus pays 3.50% AER up to £3,000. All cash interest rates remain variable.
Withdrawals from Freetrade back to your linked UK personal bank account typically take 2-3 business days to clear via standard Faster Payments, and can take up to 5 business days in some cases. Customers on the Plus plan can access same-day withdrawals for requests submitted before 2 p.m.; Freetrade's Help Center does not state a paid same-day option for Basic or Standard plan customers.
To close a Freetrade account, you must first sell your holdings or initiate an in-specie transfer to another broker, withdraw any remaining cash balance to your linked bank account, and then contact the customer support team through in-app chat or email at hello@freetrade.io to request complete account closure.
