Freetrade Review (2026):
Free ISA, SIPP, and real fee breakdown
Freetrade has changed more in the last 12 months than in its entire previous history. The ISA and SIPP are now both free on the Basic plan. Mutual funds and gilts followed. The question is no longer whether Freetrade is cheap enough — it’s whether the FX cost on non-GBP assets fits your strategy, and whether paying for Standard unlocks enough to justify it.
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TL;DR
- UK investors who want a clean, simple app for long-term investing.
- Anyone who wants a free ISA and SIPP without paying a monthly fee.
- Beginners building a simple ETF or mixed stock-and-ETF portfolio in a tax wrapper.
- Investors who want mutual fund access without moving to a traditional platform.
- FX fee of 0.99% on Basic creates real drag if you buy US stocks or ETFs regularly.
- Cash interest rates are lower than Trading 212 even on the paid plans.
- Research tools are minimal — no screener, no analyst tools on Basic.
- EU-based investors: this broker is UK only, full stop.
What’s changed at Freetrade
Freetrade has overhauled its product significantly. If you read a review from 2024 or early 2025, most of it is out of date.
- Stocks and Shares ISA — previously cost £5.99/month
- SIPP — moved from Plus-only to Basic (January 2026)
- Mutual funds — now tradeable on Basic (January 2026)
- Gilts — UK government bonds now available on Basic
- UK Treasury bills — government-backed T-bills available
- Junior ISA — launched April 2026
- FX conversion — 0.99% on Basic, reduced on paid plans
- Standard plan fee — £5.99/mo (or £4.99/mo if paid annually) for lower FX and higher cash interest
- Plus plan fee — £9.99/mo for the best FX rate, highest interest, priority service
- Stamp duty — 0.5% on UK shares (HMRC charge, applies at all brokers)
What Freetrade actually costs
Commission is zero across the board. The real costs are the FX conversion fee — which applies every time you buy a non-GBP asset — and the optional monthly plan fee for lower FX rates and higher cash interest.
| Feature | Basic (Free) | Standard | Plus |
|---|---|---|---|
| Monthly cost | £0 | £5.99/mo (£4.99/mo paid annually) |
£9.99/mo |
| GIA | ✓ | ✓ | ✓ |
| Stocks & Shares ISA | ✓ Free | ✓ | ✓ |
| SIPP | ✓ Free (from Jan 2026) | ✓ | ✓ |
| Stocks, ETFs, investment trusts | ✓ | ✓ | ✓ |
| Mutual funds & gilts | ✓ (from Jan 2026) | ✓ | ✓ |
| UK Treasury bills | ✓ | ✓ | ✓ |
| FX conversion fee | 0.99% | 0.59% | 0.39% |
| Interest on uninvested cash | 1% on up to £1,000 | 3% on up to £2,000 | Higher rate, higher cap |
| Fractional shares (US) | ✓ from £2 | ✓ | ✓ |
| Priority customer service | — | — | ✓ |
| Same-day withdrawals | 2–3 business days | 2–3 business days | Same day (before 2pm) |
- Share dealing commission — all plans, all assets
- Percentage-based platform fee — none at any level
- ISA wrapper fee — free on all plans
- SIPP wrapper fee — free on all plans
- Inactivity fee
- Withdrawal fee
- FX conversion: 0.99% / 0.59% / 0.39% by plan
- Monthly plan fee if on Standard or Plus
- Stamp duty: 0.5% on UK shares (all brokers)
- Bid/ask spread at execution
Standard’s main benefit is cutting FX from 0.99% to 0.59% — a 0.40% saving per trade. At £5.99/month (£71.88/year), you break even once you’re converting roughly £18,000 per year in non-GBP assets (about £1,500/month). Below that, Basic is the better deal unless you specifically want the higher cash interest rate.
Plus is harder to justify unless you value same-day withdrawals, the highest interest rate, or priority support. Verify current rates at Freetrade’s pricing page before upgrading.
ISA, SIPP, and Junior ISA — all free on Basic
The wrapper is more important than the broker brand for long-term investors. Freetrade now offers the full set — ISA, SIPP, and Junior ISA — without any monthly fee. That’s a genuinely unusual combination among UK platforms.
- Up to £20,000 per tax year (2025/26 allowance)
- No capital gains tax or income tax on returns inside
- Free on all plans — previously cost £5.99/month
- Flexible ISA: withdraw and re-deposit within the same tax year without losing your allowance
- ISA transfers in from other providers supported
- Self-Invested Personal Pension with tax relief on contributions
- Government adds 20% basic rate relief automatically
- Accessible from age 57 (rising from 55 in 2028)
- Flat fee (free on Basic) vs percentage charges at HL or Vanguard — scales well as balances grow
- Previously available only on the Plus plan (£9.99/mo)
Freetrade launched a Junior Stocks and Shares ISA in April 2026, allowing parents and guardians to invest on behalf of children under 18. The annual allowance for Junior ISAs is £9,000 per tax year (2025/26). This makes Freetrade one of the few commission-free platforms to now offer the full ISA family — adult ISA, SIPP, and Junior ISA — at no wrapper cost.
What you can actually buy
Freetrade’s catalogue has grown considerably. It now covers most assets a long-term retail investor would need — the gap versus full-service platforms is narrower than it was.
- 6,500+ UK, US, and European stocks
- 200+ ETFs — major index trackers and themes
- 150+ investment trusts
- 160+ REITs
- Mutual funds (including Vanguard and iShares funds)
- UK gilts (government bonds)
- UK Treasury bills
- Crypto ETNs
- Fractional shares from £2 (US stocks)
- Recurring investment orders on all plans
- Options or futures
- CFDs or leveraged products
- Corporate bonds (only UK government gilts)
- Multi-currency accounts
- Advanced charting or screener tools on Basic
- Non-UK, non-US, non-European stocks beyond major exchanges
Freetrade’s ETF catalogue covers all the core UCITS index trackers: HSBC FTSE All World, Vanguard FTSE Global All Cap, iShares Core MSCI World, iShares Core S&P 500, and most of the major low-cost trackers from the big three providers. For a one, two, or three-ETF portfolio the selection is more than sufficient.
The mutual funds addition matters most for investors who want active funds (such as Fundsmith or Vanguard LifeStrategy) alongside passive ETFs — previously they would have needed a separate platform for this.
UK Treasury bills: Freetrade was one of the first neobrokers to offer direct T-bill access — previously restricted to institutional investors or available only via ETF wrappers. Yields change weekly and are visible in the app.
Who Freetrade fits — and who it doesn’t
- UK investors who want ISA + SIPP for free — Freetrade is now hard to beat on wrapper cost.
- Anyone building a 1–5 ETF or mixed stock-and-fund portfolio inside a tax wrapper.
- Investors contributing monthly via recurring orders and then leaving it alone.
- Anyone who wants mutual fund access without paying HL or AJ Bell’s percentage fees.
- Larger portfolios where a flat £0 wrapper fee beats a percentage-based alternative significantly.
- Heavy US stock or ETF buyers who convert GBP frequently — FX drag is real on Basic.
- Investors who need deep research tools, analyst ratings, or built-in screeners.
- Anyone who wants individual corporate bonds or a wider fixed income range.
- EU-based investors — Freetrade is UK only.
- Anyone who primarily wants to maximise interest on uninvested cash — Trading 212 is more competitive here.
InvestEngine’s DIY ISA has no platform fee, no FX fee (all ETFs are GBP-denominated), and automated portfolio tools. For pure ETF investors who will never buy individual stocks or mutual funds, InvestEngine eliminates FX drag entirely. Freetrade wins if you want stock-picking, mutual funds, or a SIPP alongside your ETF portfolio. See: Freetrade vs InvestEngine comparison.
Trading 212’s FX fee is 0.15% — roughly 6× cheaper than Freetrade Basic’s 0.99%. If you buy US assets regularly, that difference compounds. Trading 212 also pays higher interest on uninvested cash. Freetrade wins on SIPP access (Trading 212 has no pension account) and mutual fund access. See: Freetrade vs Trading 212 comparison.
HL charges a percentage-based platform fee (0.35% on shares, higher on funds, both capped). At larger portfolio sizes — especially share-heavy — Freetrade’s free wrapper wins on cost. HL’s advantage is research depth, a broader fund universe, and decades of institutional trust. See: Freetrade vs HL comparison.
Vanguard UK’s platform only holds Vanguard’s own funds — roughly 85 products. Freetrade’s breadth is far wider. Vanguard’s fund charges are among the lowest available, but the product lock-in is a real constraint. For investors who want to build a Vanguard-only portfolio at minimal cost, both work; for anyone who wants choice, Freetrade is clearly more flexible.
Is Freetrade safe?
Short answer: yes, for a retail broker. Here is what the protections actually cover and where they stop.
- FCA regulated — top-tier UK regulator, authorisation number 09797821
- FSCS protected — cash up to £85,000 per person in case of broker insolvency
- Segregated client assets — your investments are held separately from Freetrade’s own balance sheet
- IG Group ownership — acquired in 2025 by a FTSE 250-listed, globally established broker
- Annual PWC audit
- Investment losses from market movements — no protection
- Cash above £85,000 — anything beyond is not FSCS-covered
- Freetrade operating as a neobroker means it is not listed on a stock exchange itself, though its parent IG Group is
Ready to open a Freetrade account?
Start on Basic — ISA and SIPP are both free. Set up a recurring monthly contribution into a broad index ETF, and review whether Standard’s lower FX rate is worth it once your monthly contribution volume makes sense.
Go deeper
Frequently asked questions
Is Freetrade available outside the UK?
Freetrade is FCA-regulated and available to UK residents only. It previously operated in Sweden but no longer does. It is not available to investors in the EU or other countries. If you are based in the EU, look at Interactive Brokers, Trading 212, DEGIRO, or Trade Republic as alternatives.
What are Freetrade’s fees in 2026?
The Basic plan is free and includes commission-free trading, a Stocks and Shares ISA, a SIPP, mutual funds, gilts, and UK Treasury bills. The Standard plan costs £5.99 per month (or £4.99/mo paid annually) and reduces the FX conversion fee from 0.99% to 0.59% while increasing cash interest. The Plus plan costs £9.99 per month, drops FX to 0.39%, pays the highest cash interest rate, and adds same-day withdrawals and priority customer service. Stamp duty of 0.5% applies to UK shares across all plans — this is an HMRC charge, not a Freetrade fee.
Is the Freetrade ISA free?
Yes. The Stocks and Shares ISA is free on the Basic plan as of 2025 — the previous £5.99/month ISA fee has been removed. The ISA is also a flexible ISA, meaning you can withdraw and re-deposit funds within the same tax year without losing that portion of your annual allowance. A Junior ISA was added in April 2026.
Is Freetrade’s SIPP free?
Yes, from January 2026. The SIPP moved from the Plus plan (£9.99/month) to the Basic (free) plan as part of Freetrade’s January 2026 product expansion. This makes Freetrade one of the only UK platforms offering a free ISA and a free SIPP simultaneously — a genuine differentiator versus both neobroker peers and traditional platforms.
Is my money safe with Freetrade?
Freetrade is FCA-regulated (authorisation number 09797821) and client assets are held in segregated accounts, separate from Freetrade’s own balance sheet. Cash deposits are FSCS-protected up to £85,000. Freetrade was acquired by IG Group in 2025 — a FTSE 250-listed broker with a global presence — which adds institutional backing to what was previously a venture-backed startup. Protection covers broker insolvency, not market losses on your investments.
When does InvestEngine or Hargreaves Lansdown make more sense than Freetrade?
InvestEngine is better for pure ETF investors — all its ETFs are GBP-denominated, so there is zero FX conversion cost. If you invest exclusively in index ETFs and never want to touch individual stocks or mutual funds, InvestEngine eliminates a cost Freetrade cannot fully remove on Basic. Hargreaves Lansdown suits investors who need the deepest fund universe, professional research tools, and an established full-service experience — and are comfortable with a percentage-based fee that becomes expensive at large portfolio sizes.
How quickly can I withdraw money from Freetrade?
Basic and Standard plan members typically receive withdrawals within 2 to 3 business days, up to a maximum of 5 days depending on your bank. Plus plan members who submit a withdrawal request before 2pm on a working day receive funds the same day. Requests after 2pm or on bank holidays are processed the next working day.
Can I invest in mutual funds on Freetrade?
Yes, as of January 2026. Mutual funds — including popular providers such as Vanguard, Fundsmith, and other UK fund managers — are now accessible on the free Basic plan. This is a significant change: previously, investors who wanted mutual funds alongside ETFs and stocks had to use a traditional platform and accept higher fees. Freetrade’s mutual fund range is still narrower than HL or AJ Bell, but covers the main products most retail investors need.
QuantRoutine provides educational content only. Nothing on this page is an offer, solicitation, or recommendation to buy or sell any security or to open an account with any specific broker. Investments can lose value, and past performance does not guarantee future results. You are responsible for your own investment, tax, and legal decisions. Always review each broker’s current terms, fees, and eligibility on their official website before opening or funding an account.