Freetrade Review (2026):
Plans, real fees, and who it fits
Freetrade built its reputation on commission-free trading in the UK. The real question isn’t whether it’s free — it’s whether the plan cost makes sense for your portfolio size, and whether the ISA or SIPP wrapper is worth paying for.
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TL;DR
- UK investors who want a clean, easy-to-use app.
- Anyone who wants a Stocks and Shares ISA without a percentage-based platform fee.
- Beginners building a simple ETF portfolio inside a tax wrapper.
- Investors comfortable with a flat monthly fee at moderate portfolio sizes.
- Monthly plan fee is expensive relative to small portfolios.
- FX fee on non-GBP assets creates real drag on US stock or ETF positions.
- Basic plan has no ISA — the core tax benefit costs extra.
- Limited research tools compared to Hargreaves Lansdown or AJ Bell.
What “commission-free” actually costs
Freetrade trades commission-free across all plans, but the plan fee itself is the first number to check — and it matters far more at smaller portfolio sizes.
| Plan | Monthly cost | What you get | ISA / SIPP |
|---|---|---|---|
| Basic | Free | Commission-free stocks and ETFs, GIA only | No |
| Standard | ~£4.99/mo | Everything in Basic + Stocks and Shares ISA | ISA only |
| Plus | ~£9.99/mo | Everything in Standard + SIPP, priority customer service, higher cash interest | ISA + SIPP |
| FX fee | 0.99% | Applied on all non-GBP trades (e.g. buying US stocks or ETFs) | All plans |
- Share dealing commission (all plans)
- Platform fee (percentage-based) — none
- Inactivity fee
- Withdrawal fee
- FX conversion: ~0.99% on non-GBP trades
- Monthly plan fee: £4.99 or £9.99
- Stamp duty: 0.5% on UK shares (standard HMRC charge)
- Spread: bid/ask difference at execution
ISA and SIPP: why the wrapper matters more than the platform
For most UK long-term investors, the ISA wrapper is more important than the broker’s brand. Freetrade’s flat-fee structure is a genuine advantage over percentage-based platforms — but only if the plan cost is justified by your portfolio size.
- Up to £20,000 per tax year (2025/26 allowance)
- No capital gains tax or income tax on returns inside the ISA
- Flat fee of £4.99/mo — not percentage-based
- Better value than HL or AJ Bell at larger portfolio sizes
- Self-Invested Personal Pension — retire with tax relief on contributions
- Government adds 20% basic rate relief automatically
- Accessible from age 57 (rising to 57 in 2028)
- Flat £9.99/mo vs percentage-based charges at HL or Vanguard
What you can actually buy
Freetrade offers a broad enough catalogue for most long-term index investors. Where it thins out is in fixed income, niche ETFs, and international market depth.
- 6,000+ UK, US, and European stocks
- ETFs including major index trackers (MSCI World, S&P 500, FTSE 100)
- Investment trusts
- Fractional shares from £2
- Recurring investment orders
- Options, futures, or CFDs
- Bonds (individual gilts or corporate bonds)
- Funds (OEICs / unit trusts)
- Advanced order types (stop-loss, limit orders on all plans)
- Multi-currency accounts
For a straightforward three-fund or single world ETF strategy, Freetrade’s catalogue is sufficient. You can access HSBC FTSE All World, Vanguard FTSE Global All Cap, iShares Core MSCI World, and most of the popular low-cost index trackers.
Where it falls short: niche factor ETFs, broader bond ETF selection, and the depth of fund choice available on HL or AJ Bell. For a simple portfolio this rarely matters.
Who Freetrade fits — and who it doesn’t
- UK investors who want a clean, simple investing app.
- Anyone building a 1–3 ETF portfolio inside an ISA on a flat fee.
- Investors contributing monthly via recurring orders — and then leaving it alone.
- Portfolio sizes where the flat fee undercuts HL’s or AJ Bell’s percentage charges.
- Very small portfolios — monthly fee is proportionally expensive.
- Investors who need funds (OEICs), gilts, or deeper fixed income access.
- Anyone needing detailed research or screener tools built in.
- EU-based investors — Freetrade is UK only.
vs InvestEngine: InvestEngine offers a fee-free DIY ISA (no monthly charge) and automated portfolio tools. For pure ETF investors who don’t need stock-picking, InvestEngine often wins on cost. Freetrade is better if you want to mix individual stocks with ETFs.
vs Hargreaves Lansdown: HL charges a percentage-based platform fee (capped on shares, not on funds). At larger portfolios — especially share-heavy ones — Freetrade’s flat fee wins. HL’s advantage is research depth, a broader fund universe, and a longer track record.
vs Vanguard UK: Vanguard’s platform only holds Vanguard funds, which is a significant limitation. Freetrade’s breadth is wider and the flat-fee structure is competitive, though Vanguard’s fund charges are among the lowest available.
Ready to open an account?
Pick Standard for the ISA, set up a recurring monthly buy into a broad index ETF, and treat it as a long-term system — not a trading app.
Go deeper
Frequently asked questions
Is Freetrade available outside the UK?
Freetrade is FCA-regulated and available to UK residents only. It is not available to investors in the EU or most 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?
Freetrade runs three plans. Basic is free and gives you commission-free trading with no ISA. Standard costs around £4.99 per month and adds a Stocks and Shares ISA. Plus costs around £9.99 per month and adds a SIPP and higher interest on uninvested cash. Across all plans, a 0.99% FX fee applies when buying non-GBP assets — this is the main hidden cost for investors buying US stocks or ETFs.
Is Freetrade good for long-term investing?
Yes, if you use a simple ETF strategy inside an ISA and automate monthly contributions. The flat plan fee becomes more justified as your portfolio grows — at smaller balances, the monthly cost is proportionally expensive. The main ongoing cost to manage is the FX charge on any non-GBP positions.
Is my money safe with Freetrade?
Freetrade is regulated by the FCA. Client assets are held in segregated accounts, meaning they are separate from Freetrade’s own balance sheet. Cash deposits are FSCS-protected up to £85,000. This protection covers broker insolvency — it does not protect against market losses on your investments.
When does InvestEngine or Hargreaves Lansdown make more sense than Freetrade?
InvestEngine is often the better choice for pure ETF investors — its DIY ISA charges no platform fee, which beats Freetrade’s £4.99/month at smaller portfolio sizes. Hargreaves Lansdown suits investors who want deeper fund and research access and are comfortable with a percentage-based fee, which becomes comparatively expensive at large portfolio sizes but provides a more comprehensive platform experience.
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.