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Freetrade Review UK 2026
Fees, plans, accounts, safety and our verdict
What you will find in this review:
Freetrade at a glance
Our verdict in brief
Freetrade is one of the few UK platforms that gives you a Stocks and Shares ISA, a SIPP, a Junior ISA and a general investment account with no account fee and no commission, on a free plan.
Its range is wider than most app-based rivals, with around 9,000 investments including more than 1,200 funds, gilts and Treasury bills.
The catch is the 0.99% FX fee on the free plan, which adds up if you buy a lot of US shares, and a SIPP that has no drawdown option and charges £240 for each withdrawal.
Freetrade pros and cons
Pros
- Free Basic plan includes the GIA, ISA, Junior ISA and SIPP
- £0 commission on shares, ETFs and funds
- Around 9,000 investments, including 1,200+ funds, gilts and Treasury bills
- Flexible ISA and free transfers in
- Three ready-made portfolios managed by Vanguard
- Owned by FTSE 100 group IG
Cons
- 0.99% FX fee on the free plan
- SIPP has no drawdown and takes no employer payments
- £240 for each pension withdrawal
- Fractional shares on US stocks only
- Interest on cash only on the first £1,000 to £3,000
- No phone support
The information provided on this page and throughout the website is for general information purposes only and does not constitute financial advice. It is important that you conduct your own research and consider your own personal circumstances before making any investment decisions.
What you will find in this review:
Quick Answer: Is Freetrade Worth It?
Freetrade is an app and web investing platform that charges no commission on UK and US trades and no account fee on its free Basic plan. Every plan, including Basic, gives you a general investment account, a flexible Stocks and Shares ISA, a Junior ISA and a SIPP. The main cost most people meet is the FX fee when buying investments not priced in pounds: 0.99% on Basic, 0.59% on Standard and 0.39% on Plus.
Freetrade Limited is authorised and regulated by the FCA under firm reference number 783189 and is wholly owned by IG Group, a FTSE 100 company. Eligible investments are protected by the FSCS up to £85,000, and eligible cash deposits up to £120,000 per person, per institution.
Uninvested cash earns interest on every plan, from 1% AER on up to £1,000 on Basic to 3.5% AER on up to £3,000 on Plus, as of 1 November 2026.
It suits investors who want shares, ETFs and funds across several tax wrappers without paying an account fee. It does not suit anyone close to taking a pension income, since the SIPP has no drawdown, or frequent buyers of US shares on the free plan, where the FX fee is high.
Platform Highlights
| 🗺️ Supported Countries | United Kingdom |
| 📊 Account fees | Basic free; Standard £5.99 a month (£4.99 billed annually); Plus £11.99 a month (£9.99 billed annually) |
| 💲 FX Fee | 0.99% Basic, 0.59% Standard, 0.39% Plus |
| 💸 Commission | £0 on UK and US trades and on funds |
| 🔁 Transfer-out fee | Free for UK securities and cash; £17 per US holding |
| 💵 Minimum | £1 for US fractional shares; no minimum to open the ISA |
| 💡 Products offered | General investment account, Stocks and Shares ISA, Junior ISA, SIPP |
| 📈 Investment range | Around 9,000 shares, ETFs, funds, investment trusts, gilts and Treasury bills |
| 📜 Regulatory entities | FCA (Freetrade Limited, FRN 783189), part of IG Group |
Freetrade launched in 2018 and was one of the first UK platforms to offer commission-free investing. It now has more than 1.6 million users, and its range goes well beyond shares and ETFs, with mutual funds, gilts and UK Treasury bills available on every plan.
It is important to note that UK clients contract with Freetrade Limited, which is registered in England and Wales (company number 09797821), is a member firm of the London Stock Exchange and has been authorised and regulated by the Financial Conduct Authority since October 2017, under firm reference number 783189.
Freetrade is wholly owned by IG Group, a FTSE 100 company founded in 1974. We set out exactly which protections apply to your cash and your investments further down this review.
Freetrade accounts: GIA, ISA, Junior ISA and SIPP
Every Freetrade plan, including the free Basic plan, gives you all four accounts. The plan you choose changes the FX fee, the interest on your cash and a few extra features.
Freetrade General Investment Account (GIA)
The GIA is for investing outside a tax wrapper, with no limit on how much you put in. You get the full range of around 9,000 investments, commission-free dealing on UK and US trades and the same three ready-made portfolios as the other accounts.
Gains and dividends in a GIA can be taxed above your annual allowances, so most people fill their ISA first. Freetrade notes that you cannot move GIA holdings straight into an ISA: you would sell and rebuy them through a Bed and ISA. You can compare GIA costs across platforms in our best investment platforms table.
Freetrade Stocks and Shares ISA
A tax-free account for UK residents aged 18 or over, with the 2026/27 allowance of £20,000. There is no account fee and no minimum to open it, on any plan.
The ISA is flexible, which means you can take money out and put it back in the same tax year without using up more of your allowance. Transfers in are free and usually take four to six weeks for a Stocks and Shares ISA, or up to four weeks from a Cash ISA. Freetrade cannot accept transfers of stocks listed on European exchanges, and anything it does not hold has to be sold and moved as cash.
Freetrade Junior ISA
Freetrade launched its Junior ISA on 1 April 2026. A parent or legal guardian with parental responsibility can open one for a child under 16, with no account, holding or commission fees on any plan, and top-ups from £1.
The child can receive up to £9,000 a tax year across all their Junior ISAs, and the money is locked until they turn 18, when the account becomes a Freetrade Stocks and Shares ISA in their name. More than 8,700 investments are eligible, including the three ready-made portfolios, and you can transfer in an existing Junior ISA or a Child Trust Fund. Freetrade cannot currently open a Junior ISA for a child aged 16 or 17.
Cash in the Junior ISA earns interest at the rate of the parent’s plan, paid monthly.
Freetrade SIPP
Since 22 January 2026, every Freetrade customer can open a SIPP, including on the free Basic plan, and there is no separate SIPP account fee. You can hold the same shares, ETFs, funds, investment trusts, gilts and Treasury bills as in the other accounts.
Freetrade claims basic-rate tax relief from HMRC and adds it to your pension automatically, which normally takes about six to eleven weeks. Higher-rate and additional-rate taxpayers can usually claim extra relief through their tax return. You can pay in up to £60,000 a year or 100% of your annual earnings, but Freetrade does not currently accept employer contributions, so it does not suit paying in through a limited company.
Transfers in are free and Freetrade aims to complete them within eight weeks. It accepts SIPPs, personal pensions, stakeholder pensions, FSAVCs and some workplace schemes, but not final salary or defined benefit pensions, or pensions with safeguarded benefits such as guaranteed annuity rates.
The biggest gap is retirement income. Freetrade offers no drawdown and no annuity: the only way to take money out is an uncrystallised funds pension lump sum (UFPLS), which costs £240 per withdrawal and generally takes four to six weeks. To take a regular income you would need to transfer to another provider. See how it compares in our best SIPP providers guide.
Ready-made portfolios
If you would rather not pick investments yourself, Freetrade offers three ready-made portfolios, designed and managed by Vanguard. Each one is a single Vanguard LifeStrategy fund: Conservative holds LifeStrategy 20% Equity, Moderate holds 60% Equity and Adventurous holds 100% Equity. They are available in the ISA, SIPP and GIA on any plan.
Freetrade’s portfolio page does not show a separate management fee. Each LifeStrategy fund has its own yearly charge, set by Vanguard and shown in the fund’s documents, so check that before you invest.
When choosing between the accounts, think about your goals, how long you can leave the money invested and which tax allowances you have left. Most people use the ISA first, the SIPP for retirement and the GIA for anything above their allowances.
Interest on Uninvested Cash
Cash you have not invested earns interest on every plan, but only up to a cap, as of 1 November 2026:
- Basic: 1% AER on up to £1,000
- Standard: 2.5% AER on up to £2,000
- Plus: 3.5% AER on up to £3,000
Freetrade says it keeps a portion of the interest it earns on your cash as revenue. Above the cap, your cash earns nothing, so Freetrade is not a place to hold large cash balances for long.
Investment range: funds, gilts and Treasury bills
Freetrade says it offers more than 9,000 investments. That includes UK, US and European shares, ETFs, investment trusts, REITs and more than 1,200 mutual funds from providers such as Vanguard, BlackRock, Royal London, HSBC, Fidelity and L&G. Funds carry no dealing commission and no percentage holding fee.
For fixed income there are UK gilts and UK Treasury bills, which offer a fixed yield backed by the UK government. Freetrade also offers crypto ETNs and SPACs, which it treats as higher-risk products with their own risk warnings.
Fractional shares are available on US stocks only, from £1. UK shares and ETFs are bought in whole units, and Freetrade does not offer fractional ETFs.
What else does Freetrade offer?
Automated orders
Recurring orders, limit orders and stop losses are available on every plan, so you can invest a set amount on a schedule or buy and sell at a price you choose.
Extended hours trading
A pre-market session on certain US stocks from 9am to 2:30pm UK time, Monday to Friday. Freetrade’s help centre says it is for Standard and Plus subscribers only, and there is no after-hours session.
Fractional US shares
Buy US shares from £1, with dividends paid in proportion to what you hold. Fractional shares cannot be transferred out as they are, so they have to be sold first.
Securities lending
Securities lending is opt-in. Freetrade keeps half of any revenue your shares earn from lending and passes the other half to you.
App and web platform
You can invest on the Freetrade app or on the web, with stock fundamentals on the Standard and Plus plans and early access to new features on Plus.
Together these make Freetrade more than a basic share-dealing app, although it still lacks the research tools and phone service of the larger traditional platforms.
Freetrade fees
Plans and trading costs
Freetrade charges no commission on UK and US trades or on funds, and no account fee for any of its four accounts. What you pay depends on your plan:
- Basic: free, with a 0.99% FX fee and 1% AER on up to £1,000 of cash.
- Standard: £5.99 a month, or £4.99 a month billed annually (£59.88), with a 0.59% FX fee and 2.5% AER on up to £2,000.
- Plus: £11.99 a month, or £9.99 a month billed annually (£119.88), with a 0.39% FX fee and 3.5% AER on up to £3,000, plus priority customer service.
The FX fee applies whenever you buy or sell an investment priced in another currency, so it is the cost to watch if you invest in US shares. On £1,000 of US shares, 0.99% is £9.90 each way.
Other charges
- Pension withdrawals: £240 for each UFPLS withdrawal from the SIPP.
- Transfers out: free for UK securities and cash, £17 per holding for US securities. Fractional shares must be sold first.
- Transfers in: free for ISAs, Junior ISAs, pensions and GIAs, although your old provider may charge.
Freetrade adds that other charges may apply, and publishes a separate charges schedule for the SIPP. Government charges such as stamp duty on UK shares apply at every platform.
Every figure in this review comes from Freetrade’s own website, checked on 1 November 2026: the plan comparison, the SIPP page, the ISA page, the safety page and the help centre.
Is Freetrade safe? Regulation and protection
Freetrade is regulated in the UK and keeps customer money and investments separate from its own. These are the key facts.
Freetrade Limited
The company UK customers deal with. Registered in England and Wales (09797821), a member firm of the London Stock Exchange and authorised and regulated by the Financial Conduct Authority under firm reference number 783189 since 2 October 2017.
IG Group
Freetrade is wholly owned by IG Group, a FTSE 100 company founded in 1974. Freetrade says that if IG could not support it, customer accounts would likely be transferred to another provider under the regulator’s oversight.
Segregated money and investments
Cash is held in dedicated client money accounts, separate from Freetrade’s own funds, and investments are held in a nominee account, in line with standard practice for UK platforms.
Checks and audits
Freetrade reconciles its records daily and is subject to regular third-party audits by PwC. Your account is protected by a PIN, optional fingerprint or Face ID, and multi-factor authentication by SMS or an authenticator app.
Two separate FSCS limits apply, and it is worth understanding the difference between them.
- Cash: FSCS protection up to £120,000. Eligible cash deposits are protected up to £120,000 per person, per financial institution.
- Investments: FSCS protection up to £85,000. This covers the failure of the firm, not a fall in the value of your investments.
- SIPPs are a partial exception. Freetrade says ISAs are FSCS protected, but some eligible investments in a SIPP may not qualify.
What Freetrade does well
Free plan with every account
The Basic plan costs nothing and includes the GIA, ISA, Junior ISA and SIPP, with no account fee on any of them.
Funds, gilts and Treasury bills
More than 1,200 mutual funds plus gilts and UK Treasury bills sit alongside shares and ETFs, a wider range than most app-based platforms.
Free Junior ISA and SIPP
Few platforms offer a Junior ISA and a SIPP with no account fee at all.
Ready-made portfolios
Three Vanguard LifeStrategy portfolios for anyone who would rather not choose investments.
Fractional US shares
Buy expensive US shares from £1, with recurring orders to invest automatically.
Simple, transparent pricing
A flat monthly subscription is the only account charge, with free transfers in and commission-free dealing.
Start your investing journey with Freetrade today!
Why Freetrade may not be suitable for you
Freetrade is low cost and FCA regulated, but no platform suits everyone. These are the limits to weigh up before you open an account.
High FX fee on the free plan
The 0.99% FX fee on Basic is one of the highest among app-based platforms. If you buy US shares regularly, a paid plan or a cheaper rival may cost less.
Limited SIPP for retirement
No drawdown, no annuities and £240 for each UFPLS withdrawal, so the SIPP suits building a pension more than drawing one.
No employer contributions
The SIPP does not accept employer payments, so company directors cannot pay in through their limited company.
Fractional shares on US stocks only
UK shares and ETFs must be bought in whole units, which makes small regular investing in UK ETFs harder.
Interest only on small balances
Interest stops at £1,000 on Basic and £3,000 on Plus, and Freetrade keeps part of what it earns on your cash.
Chat and email support only
There is no phone line for customer support, which can matter for complex jobs such as a pension transfer.
Two smaller points are also worth knowing. Moving US shares out costs £17 per holding, and Freetrade cannot accept transfers in of shares listed on European exchanges.
If any of these rule Freetrade out for you, the alternatives below or our Find My Broker quiz can point you to a better fit.
Who Freetrade is best for
Freetrade is likely to suit you if you:
- want an ISA, a SIPP and a Junior ISA without paying an account fee
- want funds, gilts or Treasury bills as well as shares and ETFs
- are comfortable choosing your own investments in an app, or using a ready-made portfolio
- mostly buy UK-listed investments, where no FX fee applies
You may be better served elsewhere if you:
- are close to retirement and need pension drawdown
- want your employer or limited company to pay into your pension
- buy a lot of US shares on a free plan
- want phone support or in-depth research tools
Freetrade customer support
Available customer support channels:
Support is digital: chat and email, backed by a detailed help centre. That suits most app users, but if you would like to talk through a pension transfer or withdrawal on the phone, a traditional platform may suit you better. Complaints go through Freetrade’s complaints page.
How to open a Freetrade account
Opening a Freetrade account is a short process. These are the main steps.
- Download the Freetrade app and create your account.
- Choose your plan. Basic is free, and you can move to Standard or Plus later.
- Pick your accounts: a GIA, a Stocks and Shares ISA, a SIPP or, for a child under 16, a Junior ISA.
- Add money, then choose your investments or one of the three ready-made portfolios.
To open the Stocks and Shares ISA you must be 18 or over and a UK resident, and you cannot open one for someone else. Only a parent or legal guardian with parental responsibility can open a Junior ISA. If you change your mind about a new SIPP, you can cancel it within 30 days and Freetrade refunds any account fees taken.
The information provided on this page and throughout the website is for general information purposes only and does not constitute financial advice. It is important that you conduct your own research and consider your own personal circumstances before making any investment decisions.
Minimums at a glance:
- No minimum to open the Stocks and Shares ISA
- US fractional shares from £1
- Junior ISA top-ups from £1
- No minimum contribution stated for the SIPP
- No minimum value for pension transfers
Because fractional shares are only available on US stocks, UK shares and ETFs are bought in whole units, so their share price sets the smallest amount you can invest in them.
Freetrade advertises instant deposits and withdrawals, and there is no fee to transfer an ISA, Junior ISA, pension or GIA in.
Freetrade alternatives worth considering
Freetrade is hard to beat for a free all-in-one set of accounts, but it does not suit everyone. If you buy a lot of US shares, need pension drawdown or want phone support, these platforms are worth comparing.
Lowest FX fee
Trading 212
No subscription and a 0.15% FX fee, the cheaper choice if you buy a lot of US shares, although it holds no funds.
Visit broker →
Capital at risk.
Best for low-cost ETF portfolios
InvestEngine
No platform fee on DIY ETF portfolios, plus managed portfolios if you would rather have help.
Visit broker →
Capital at risk.
Best for larger portfolios
interactive investor
A flat monthly fee that covers an ISA, SIPP and trading account, with employer payments accepted into the SIPP.
Visit broker →
Capital at risk.
Best for pension income and research
Hargreaves Lansdown
Pension drawdown, a phone service and in-depth research, the areas where Freetrade is most limited.
Visit broker →
Capital at risk.
Best for ready-made funds
Vanguard
Vanguard’s own LifeStrategy and target retirement funds in an ISA, SIPP or Junior ISA, with a capped account fee.
Visit broker →
Capital at risk.
Every platform here is authorised by the FCA. To weigh them up side by side, see our best investment platforms table or the best SIPP providers guide.
And make sure to check out our reviewed brokers!
Frequently Asked Questions
Our verdict on Freetrade
Freetrade has grown from a commission-free share app into a broad investment platform. Its free Basic plan includes a general investment account, a flexible Stocks and Shares ISA, a Junior ISA and a SIPP, with no account fee and no commission on UK and US trades or funds. Few UK platforms offer that set of accounts for nothing.
The range is a real strength. Around 9,000 investments include more than 1,200 mutual funds, gilts and UK Treasury bills, and three ready-made Vanguard portfolios cover anyone who would rather not choose. Freetrade Limited is regulated by the FCA under firm reference number 783189 and is owned by FTSE 100 group IG.
The costs and limits are worth weighing. The 0.99% FX fee on the free plan is high if you buy US shares often, and interest on cash only applies to the first £1,000 to £3,000. The SIPP is good for building a pension but weak for drawing one, with no drawdown, no employer contributions and £240 for each withdrawal.
On balance, Freetrade suits investors who want shares, ETFs and funds across several tax wrappers without paying an account fee, especially if they mostly buy UK-listed investments. If you need pension drawdown, phone support or the lowest FX fee, compare the alternatives first, or use our Find My Broker quiz.
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How does Freetrade compare?
Best investment platforms
Freetrade against 13 other platforms on the yearly cost of a general investment account at your portfolio size.
See the comparison →
Best SIPP providers
How the Freetrade SIPP compares on cost, employer payments and drawdown with the other main pension platforms.
See the comparison →
See all platform comparisons → How we review brokers
This review follows the same process we apply to every broker, so you can see what the verdict above is actually based on.
- What we assessCost, safety and regulation, investment range, platform experience, account options, and support.
- Where it comes fromFee schedules, key features documents, terms and conditions, and the FCA Register.
- How often we checkAt least quarterly, and sooner when a broker changes its charges or accounts.
- IndependenceCommercial relationships do not change our verdict, or what we write about a broker.
Every broker we review is authorised by the Financial Conduct Authority.Our review methodology
Risk Disclaimer
When investing, your capital is at risk and you may get back less than you invested. Past performance does not guarantee future results. Tax treatment depends on your individual circumstances, and ISA and pension rules can change.
This review is general information, not financial advice, and it does not take account of your personal circumstances. Consider seeking regulated advice if you are unsure what is right for you.