Freetrade Review UK: Honest Pros, Cons and Verdict (2026)

Last updated: 9 June 2026

By Stiv · Design, technology and personal finance

This is an opinion piece. Views expressed are the author's own and do not constitute financial advice.

Cool Factor: 4/5

This Freetrade review UK covers everything you need to know before opening an account: plans, fees, what you can invest in, what real users say on Trustpilot, and where the app falls short. Freetrade has grown into one of the UK's most popular investing apps since the company was founded in 2016. However, popularity and quality are not always the same thing. This review is based on my own experience using the app, and I have dug into the plans, fees and real user feedback so you don't have to.

This article contains affiliate or referral links. If you click through and sign up I may earn a commission or referral bonus at no extra cost to you. It does not affect my editorial view.

Capital at risk. The value of investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results.

What Is Freetrade?

Freetrade is a UK investing app that lets you buy and sell shares, ETFs, funds, gilts and investment trusts from your phone. UK stock trades are commission-free on all plans. Moreover, the platform is authorised and regulated by the Financial Conduct Authority (FCA, FRN 783189), and it is a member of the London Stock Exchange.

If Freetrade were to fail, eligible investments are protected up to £85,000 per person per FCA-authorised firm by the FSCS. However, that protection does not cover losses if your investments simply fall in value. Your cash and investments are also held separately from Freetrade's own funds, in line with FCA client-money (CASS) rules.

In April 2025, Freetrade completed its acquisition by IG Group, one of the UK's longest-established trading platforms, with the deal having been announced in January 2025. That added a layer of institutional backing, although Freetrade continues to operate as a separate app with its own branding and feature set. It now has over 1.6 million registered users.

First Impressions

Getting started takes minutes. You download the app, verify your identity, and you are in. The interface is clean and unfussy, which is a welcome change compared to the cluttered dashboards on some legacy platforms. Everything is clearly labelled, and the portfolio view is easy to read at a glance.

What stands out from the start is how little friction there is. You can buy a share in seconds, set up recurring orders via Direct Debit, and start with as little as £2 through fractional shares on US stocks. For anyone used to fiddly sign-up processes and hidden menus, Freetrade feels refreshingly simple.

Plans and Pricing

Freetrade runs three tiers. Basic costs nothing and now includes a General Investment Account (GIA), Stocks and Shares ISA, SIPP, mutual funds, gilts and access to the full range of over 6,500 stocks, ETFs and investment trusts. That's a major upgrade from January 2026, when Freetrade opened up the SIPP and funds to all customers.

Standard costs £4.99 per month on annual billing (or £5.99 monthly). It adds stock fundamentals, lower FX rates and higher interest on uninvested cash. Plus costs £9.99 per month on annual billing (or £11.99 monthly) and adds the lowest FX rates, priority customer support and same-day withdrawals.

There are no per-trade commissions on standard UK shares across any plan. However, an FX conversion fee applies when you buy non-GBP investments: 0.99% on Basic, 0.59% on Standard and 0.39% on Plus. For anyone regularly buying US stocks, that difference adds up fast. Same-day withdrawals also carry a flat £5 fee on non-Plus plans. Full pricing is on the Freetrade plans page.

What Can You Invest In?

The investment range has expanded significantly since the early days. Freetrade now offers access to over 6,500 UK and US stocks, ETFs and investment trusts, plus 300+ mutual funds from providers like Vanguard, BlackRock, Royal London and Schroders, along with REITs, UK gilts and Treasury bills. In addition, fractional shares are available on US stocks from as little as £2, which makes it easier to get exposure to higher-priced companies.

Since January 2026, mutual funds and gilts are available on all plans, including the free Basic tier. That removes what was previously one of the biggest reasons to upgrade. As a result, the main remaining incentives for paid plans are lower FX fees, higher cash interest and stock fundamentals.

Account Types

The Stocks and Shares ISA is included free on all plans with a £20,000 annual allowance. It's a flexible ISA too, meaning you can withdraw and replace money within the same tax year without eating into your allowance. The SIPP is now also available on all plans, with government tax relief of 20% to 45% on contributions, depending on your tax band. The GIA is the standard unwrapped account, and Freetrade has also added a Junior ISA across its plans.

Tax treatment depends on the individual circumstances of each client and may be subject to change in future.

The Experience: What Works and What Doesn't

This Freetrade review UK wouldn't be complete without digging into day-to-day use. On the positive side, the app is one of the cleanest-feeling investing interfaces in the UK. Buying a share takes seconds, recurring orders make it easy to build a regular investing habit, and the flexible ISA on the free plan is a real differentiator. Most competitors either charge for ISA access or don't offer flexibility.

Where Freetrade Shines

Commission-free UK trading across every plan is the headline feature, and it delivers. On top of that, the January 2026 changes mean even free users get a SIPP, mutual funds and gilts. That's a strong package for a £0 price tag. Freetrade has also won Best Online Trading Platform at the British Bank Awards for six years running, which reflects consistent customer satisfaction.

Where Freetrade Falls Short

Research tools are basic. If you want detailed fundamental data, analyst reports or advanced charting, you'll need to use a separate tool. Platforms like Hargreaves Lansdown and Interactive Investor offer far more in this area, although they charge more for it.

The 15-minute price delay on the free plan is frustrating for anyone who wants real-time data. In addition, FX fees on the Basic plan (0.99%) are notably higher than some competitors. Lightyear, for example, now charges just 0.10% following its March 2026 price cut. Customer support being chat-only, with no phone option, is a real drawback if you have an urgent account issue.

How Freetrade Compares

Freetrade vs Trading 212: Both offer commission-free trading and a free ISA. Trading 212 has a larger stock universe and pays interest on all uninvested cash without needing a paid plan. Freetrade counters with gilts, mutual funds, a SIPP and British Bank Award pedigree. If you mainly buy US stocks, Trading 212's lower FX fees may win out.

Freetrade vs Lightyear: Lightyear now beats Freetrade significantly on FX costs (0.10% vs 0.99% on Basic) and supports multi-currency accounts. Freetrade wins on breadth with its ISA, SIPP, gilts, funds and a much longer UK track record. Read our Lightyear review for the full comparison.

Freetrade vs Hargreaves Lansdown: HL offers vastly more research, phone support and a wider fund range, but charges £11.95 per share trade and higher platform fees. In my experience, Freetrade may suit cost-conscious investors who are comfortable doing their own research, while HL may suit those who want deeper tools and support.

Value for Money

For the price (which is often nothing), Freetrade is hard to fault on value. The free flexible ISA, commission-free UK trades, SIPP and expanding fund range make it a strong foundation for everyday investing. The gaps in research tools and customer support are real, but they're the trade-off for not paying platform fees.

Where value starts to wobble is on FX fees. If you're regularly buying US stocks on the Basic plan, that 0.99% adds up over time. Upgrading to Standard or Plus improves this, but then you're paying a monthly subscription. For investors focused heavily on international stocks, a platform like Lightyear may deliver better overall value. For UK-focused portfolios and ISA savers, though, Freetrade may suit those who prioritise breadth of account types over the lowest FX fees.

The Verdict

Cool Factor

★★★★☆

4 out of 5

This Freetrade review UK comes down to a straightforward conclusion: for most people starting out or building a passive portfolio, it does the job very well indeed. The January 2026 changes made the free tier highly competitive, and the IG Group backing adds reassurance on stability. The app is slick, the pricing is transparent, and the FSCS protection is there.

What keeps it from a perfect score is the combination of limited research tools, chat-only support and FX fees that don't compete with the very cheapest platforms for international trades. For UK-focused investing, though, it's properly impressive.

Capital at risk. The value of investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results. This is general information, not financial advice.

If you've decided it may suit you and want to pick up a free share on the way in, I've put together a step-by-step guide with the current offer: Freetrade referral code and sign-up guide. Freetrade's refer-a-friend deal gives both you and the person who refers you a free share worth between £10 and £100. However, the probability is weighted, so the more expensive shares are rarer and most awards sit at the lower end of that range. Terms and conditions apply, and your capital is at risk.

Get a free share with Freetrade

Overall, a solid 4/5. Freetrade impressed with its free ISA, SIPP and the sheer simplicity of the app, but it did not quite reach a full five because the research tools, customer support and Basic-tier FX fees leave room for improvement.

What Real Users Say

On Trustpilot, Freetrade holds a rating of 4 out of 5 at the time of writing, from over 7,000 reviews. The most common praise centres on how easy the app is to use, the clean interface and the lack of hidden fees. Several reviewers specifically highlight the SIPP as a standout, noting it's significantly cheaper than alternatives like Hargreaves Lansdown.

On the other hand, the most common complaints involve customer support response times and the fact that some features are locked behind paid plans. A handful of users have reported issues with limit orders not executing as expected, although Freetrade typically responds to these on the review platform. Freetrade has also won Best Online Trading Platform at the British Bank Awards for six years running.

Who Is Freetrade Best For?

Freetrade suits UK investors who want a low-cost, simple way to build a long-term portfolio. It's particularly strong for beginners who want an ISA and SIPP without paying monthly fees. Similarly, it works well for anyone who values a clean, mobile-first experience over advanced trading tools. If you need detailed research, phone support or access to options and margin trading, you'll likely outgrow it.

Frequently Asked Questions

Is Freetrade safe?

Yes. Freetrade is authorised and regulated by the FCA (FRN 783189) and is a member of the London Stock Exchange. If Freetrade were to fail, eligible investments are protected up to £85,000 per person per FCA-authorised firm by the FSCS. That said, the FSCS does not cover losses from your investments falling in value. Your cash and investments are also held separately from Freetrade's own funds.

Is Freetrade really free?

The Basic plan has no monthly fee, and UK share trades are commission-free across all plans. However, FX fees apply on non-GBP investments (0.99% on Basic), and features like lower FX rates and priority support require a paid plan. Same-day withdrawals also cost £5 unless you're on Plus.

Is Freetrade good for beginners?

Yes, it's one of the more beginner-friendly options in the UK. The app is simple, there's no minimum investment, the ISA and SIPP are free, and you can start with as little as £2 via fractional shares. The main limitation is the lack of built-in educational content compared to some competitors.

Can I transfer my ISA to Freetrade?

Yes. Freetrade supports ISA transfers in. You initiate the transfer in the app and Freetrade handles the process with your old provider. Transfer times vary but typically take a few weeks.

Does Freetrade pay interest on cash?

Yes, across all plans. On Basic you earn 1% AER on up to £1,000 of uninvested cash, on Standard 2.5% AER on up to £2,000, and on Plus 3.5% AER on up to £3,000. These rates are variable, so check the Freetrade plans page for the latest figures.

How does Freetrade make money if trades are free?

Freetrade earns revenue from paid subscriptions, FX conversion fees on international trades, interest on client cash held in segregated accounts, and stamp duty collection on UK share purchases (passed through to HMRC). As a result, there are no hidden spreads or payment-for-order-flow arrangements.

What's the difference between Freetrade and Trading 212?

Both offer commission-free trading and a free ISA. Trading 212 has a larger stock universe and pays interest on all cash without a paid plan. In contrast, Freetrade offers gilts, mutual funds, a SIPP and a flexible ISA on the free tier. The best choice depends on whether you prioritise breadth of account types or lower FX fees for US stocks.

Disclaimer

This page is for general information only and does not constitute financial advice or a personal recommendation. CoolCuration is not authorised by the Financial Conduct Authority and does not offer personalised financial guidance. Capital at risk. The value of investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results. Eligible investments are protected up to £85,000 per person per FCA-authorised firm by the FSCS. Tax treatment depends on the individual circumstances of each client and may be subject to change in future. Rates, fees and terms can also change, so always check the latest details on Freetrade's own site, and consider speaking to a qualified financial adviser before you invest. This article contains affiliate or referral links. If you click through and sign up I may earn a commission or referral bonus at no extra cost to you. It does not affect my editorial view.