Freetrade vs AJ Bell (2026):
Full UK Comparison
The decision comes down to three things: cost structure, account range, and how much you care about research depth. Freetrade is the lowest-cost option for passive ETF investors — no commission, no custody fee, free basic tier. AJ Bell offers a wider wrapper range including a Lifetime ISA and Junior SIPP, a deeper research suite, and phone support. Neither is strictly better; the right answer depends on what you actually need.
Freetrade vs AJ Bell at a glance
- Zero commission on all trades, all plans
- No custody fee ever
- Free Basic tier — no monthly fee
- Fractional shares on US stocks from £1
- Recurring orders weekly, fortnightly, or monthly
- Flexible stocks and shares ISA
- GIA, ISA, SIPP, JISA
- No Lifetime ISA (LISA)
- No phone support
- Web platform on Standard/Plus only
- £1.50 regular investing — automated monthly buys
- 0.25% custody, capped at £42/yr (ISA/GIA)
- Lifetime ISA and Junior SIPP available
- 3,000+ ETFs, 4,000+ funds
- Phone support Mon–Fri 8am–7pm; Sat 10am–2pm
- FTSE 250-listed company (LSE: AJB)
- Full research suite + Shares Magazine access
- £5 per online trade
- No fractional shares
- Regular investing executes monthly only (10th)
Fee breakdown: Freetrade vs AJ Bell
All fees verified from primary sources. Freetrade figures apply to the free Basic tier unless noted.
| Fee | Freetrade | AJ Bell |
|---|---|---|
| Commission per trade | £0 (all plans) | £5.00 (£3.50 for 10+ trades/month) |
| Regular / automated investing | £0 | £1.50 per automated monthly order |
| Monthly platform fee | £0 Basic; £5.99 Standard; £11.99 Plus | £0 |
| Annual custody fee | 0% | 0.25% p.a. (ISA/GIA cap: £42/yr; SIPP cap: £120/yr) |
| FX markup | 0.99% Basic; 0.59% Standard; 0.39% Plus | 0.75% (<£10k); 0.50% (£10k–£20k); 0.25% (>£20k) |
| Fractional shares | Yes (US stocks) | No |
| Minimum deposit | £0 | £0 |
What these fees cost in practice
If your plan is one monthly direct debit into a GBP-denominated ETF with no FX involved, Freetrade Basic costs nothing. AJ Bell charges £1.50 per regular investing order plus 0.25% custody on the growing balance. At a £10,000 ISA balance: £18/yr dealing (12 x £1.50) + £25 custody = £43/yr. The ISA custody cap of £42/yr kicks in at £16,800, so AJ Bell’s total stabilises at £60/yr above that. Freetrade Basic stays at £0 at every portfolio size.
Verdict: Freetrade Basic wins on cost for passive GBP ETF investing at any portfolio size.
Both brokers apply FX on US stock purchases, but in opposite directions. Freetrade Basic: 0.99% FX, zero commission. AJ Bell: £5 commission + 0.75% FX (first £10k). The break-even trade size is roughly £2,083 — below that, Freetrade Basic has a lower total cost; above it, AJ Bell’s lower FX rate outweighs the £5 flat charge.
Example: On a £500 US trade: Freetrade Basic £4.95 vs AJ Bell £5.00 + £3.75 = £8.75. On a £3,000 trade: Freetrade Basic £29.70 vs AJ Bell £5.00 + £22.50 = £27.50. AJ Bell wins at larger individual trade sizes.
Freetrade Standard costs £71.88/yr and adds lower FX (0.59%) plus web access. AJ Bell with one monthly regular investing order costs £18/yr dealing + custody (capped at £42 in ISA) = maximum £60/yr. AJ Bell’s capped annual ISA cost is cheaper than Freetrade Standard at every portfolio size for passive monthly investors.
When Standard pays off: If you are buying US-listed assets frequently enough that the FX saving from 0.59% vs 0.99% — roughly £400/yr in foreign trades to save £71.88 — outweighs the subscription cost. Otherwise, AJ Bell regular investing is cheaper than Freetrade Standard.
Wrappers, accounts, and eligibility
| Account type | Freetrade | AJ Bell |
|---|---|---|
| GIA (Dealing account) | Yes | Yes |
| Stocks and shares ISA | Yes | Yes |
| SIPP (Self-invested pension) | Yes | Yes |
| Junior ISA (JISA) | Yes | Yes |
| Lifetime ISA (LISA) | No | Yes |
| Junior SIPP | No | Yes |
| UK residency required | Yes | Yes |
What you can invest in and how
| Feature | Freetrade | AJ Bell |
|---|---|---|
| ETF count | 700+ | 3,000+ |
| Mutual funds (OEICs) | Not available | 4,000+ |
| Stocks available | 6,000+ (UK, US, European) | 14,000+ across 24 markets |
| Fractional shares | Yes (US stocks, from £1) | No |
| Recurring order frequency | Weekly, fortnightly, or monthly | Monthly only (executes on the 10th) |
| Recurring order minimum | £2 | £25 |
| Crypto / CFDs | No (Crypto ETNs only) | No |
| Mobile app | iOS and Android (all plans) | iOS and Android |
| Web / desktop platform | Standard and Plus plans only | All accounts |
| Research tools | Basic fundamentals; analyst ratings on paid tiers | Full screeners, analyst reports, Shares Magazine, video commentary |
Freetrade’s recurring orders can run weekly, fortnightly, or monthly from a minimum of £2 per asset. AJ Bell’s Regular Investing executes once per month, on the 10th, with a minimum of £25 per asset. For a disciplined monthly direct debit above £25, AJ Bell at £1.50 per order is cost-effective. For investors who want multiple schedules, smaller per-asset contributions, or fractional top-ups, Freetrade is more flexible.
Interest on uninvested cash
| Account / Tier | Freetrade | AJ Bell |
|---|---|---|
| Basic plan / GIA dealing | 1% AER (up to £1,000) | 0.75% AER (up to £2,000); 0% above |
| Standard plan / ISA | 2.5% AER (up to £2,000) | 1.75% AER (all balances, uncapped) |
| Plus plan / SIPP | 3.5% AER (up to £3,000) | 2.05–3.15% AER (tiered by balance) |
| Balance cap on interest | Yes — hard cap per tier | No cap on ISA/SIPP; hard cap on GIA |
| Payment frequency | Monthly (around 11th working day) | Quarterly (March, June, September, December) |
Regulation, compensation, and structural safety
- FCA-regulated: Freetrade Limited (FRN 783189)
- Client assets held under Freetrade Nominees Limited — separate from operating capital
- Client cash in segregated bank accounts
- FSCS protection: investments up to £85,000; cash up to £120,000
- Parent: IG Group (FTSE 100-listed)
- Freetrade itself is privately held
- FCA-regulated: AJ Bell Management Ltd and AJ Bell Securities Ltd
- Client assets under AJ Bell Nominees Limited
- Cash held via ClearBank and segregated trust accounts
- FSCS protection: investments up to £85,000; cash up to £120,000
- AJ Bell plc: FTSE 250-listed (LSE: AJB)
- Full public-company accounts and regulatory disclosure requirements
Support channels and availability
| Channel | Freetrade | AJ Bell |
|---|---|---|
| Phone | No | Yes — Mon–Fri 8am–7pm; Sat 10am–2pm |
| Live chat | Yes (in-app, plus chatbot) | Yes (webchat) |
| Email / secure message | Yes | Yes |
| Out-of-hours cover | Chatbot only | No |
Freetrade has no telephone channel. If you expect to call your broker during periods of market stress, or want phone support for SIPP or pension administration queries, AJ Bell is the only option between these two.
Who each broker actually fits
- You want zero-cost investing with no platform or custody fee
- Your plan is a regular ISA contribution into one or two GBP ETFs
- You want fractional shares on US stocks from a small amount
- You want a flexible recurring order schedule (weekly or fortnightly)
- You do not need a Lifetime ISA or Junior SIPP
- You are comfortable with app-based support on the free tier
- You want a Lifetime ISA — AJ Bell is the only option between these two
- You want a Junior SIPP for family pension planning
- You prefer phone support and want to be able to call your broker
- You want mutual funds (4,000+ OEICs) not available on Freetrade
- You want deeper research: screeners, analyst data, Shares Magazine
- You are making infrequent, larger lump-sum trades where the £5 flat charge is proportionally small
If you are under 40 and the Lifetime ISA is relevant to your situation — either for a first home purchase or to supplement retirement savings — that single product decision should take priority over every other comparison on this page. The 25% government top-up on up to £4,000/yr is too significant to trade away over a £5 dealing commission. In that case, choose AJ Bell.
Both platforms are FCA-regulated, FSCS-covered, and have no minimum deposit. Freetrade’s Basic plan is free to open. AJ Bell accepts accounts with no upfront cost. Use the fee break-even scenarios above against your expected portfolio size and trading frequency before deciding.
Related reading
Freetrade vs AJ Bell: common questions
Is Freetrade better than AJ Bell for beginners?
For pure simplicity and zero cost to start, Freetrade Basic wins: no commissions, no platform fee, no minimum deposit. AJ Bell suits beginners who want a Lifetime ISA, deeper research tools, or phone support. If you are starting from scratch with a small monthly ISA contribution, Freetrade Basic costs nothing. If you want a wider account range or more guided content, AJ Bell is the more capable platform.
Does AJ Bell charge a platform fee?
AJ Bell charges a custody fee of 0.25% per year on shares and ETFs in an ISA or GIA, capped at £3.50 per month (£42 per year). The SIPP custody is capped at £10 per month (£120 per year). There is no fixed monthly subscription fee. Freetrade charges no custody fee but charges £5.99 or £11.99 per month for its Standard and Plus plans.
Can I transfer my ISA from Freetrade to AJ Bell or vice versa?
Yes, both platforms accept ISA transfers in and allow ISA transfers out. In-specie transfers (moving holdings without selling) may not be supported between all platforms — confirm with both brokers before initiating. Cash transfers (sell, transfer cash, rebuy) are more straightforward. Check whether your sending platform charges a transfer-out fee before you begin.
Does Freetrade offer a Lifetime ISA?
No. Freetrade does not offer a Lifetime ISA (LISA). AJ Bell does. If the 25% government bonus on LISA contributions is part of your plan — for a first home purchase or retirement — AJ Bell is the only option between these two platforms.
What happens to my investments if Freetrade goes bust?
Freetrade is FCA-regulated and holds client assets separately under Freetrade Nominees Limited. In an insolvency, those assets would not form part of Freetrade’s creditor pool. FSCS protection covers investments up to £85,000 per person. Freetrade’s parent is IG Group, a FTSE 100-listed company. AJ Bell is itself FTSE 250-listed, providing an additional layer of public-company transparency and scrutiny.
Some of the links on this site are affiliate links, meaning we may earn a commission at no extra cost to you if you sign up through them. This does not affect our reviews or recommendations — we only feature products we genuinely believe are useful for investors. This site provides educational content only, not personalized investment advice. Investments can lose value and past performance does not guarantee future results. You are responsible for your own financial decisions and for confirming the tax and legal rules that apply in your country.