Freetrade is one of the best-known commission-free investing apps in the UK. In this review, updated for October 2026, we look at its plans, fees, accounts, safety and how it compares with rivals such as Trading 212 and eToro.
When investing, your capital is at risk and you may get back less than you invest.
Freetrade at a glance
| Regulation | FCA, FRN 783189 |
| Owner | IG Group (since 2025) |
| Investments | 8,600+ shares, ETFs, funds and investment trusts |
| Commission | £0 on share and ETF trades |
| Plans | Basic £0, Standard £4.99 a month, Plus £9.99 a month (billed annually) |
| FX fee | 0.99% (Basic), 0.59% (Standard), 0.39% (Plus) |
| Accounts | General Investment Account, Stocks and Shares ISA, Junior ISA, SIPP |
| Access | iOS and Android apps, plus a web platform |
What is Freetrade?
Freetrade launched in 2018 as an app-only broker that let people buy and sell shares without paying dealing fees. Back then, most UK brokers charged around £10 a trade. Freetrade, Trading 212 and others pushed the industry towards lower fees.
Freetrade was bought by IG Group in 2025. It still runs as a separate brand and app.
How does Freetrade make money?
If trades are free, how does Freetrade earn money? Mainly through:
- Subscriptions: the paid Standard and Plus plans.
- FX fees: a charge on trades in shares priced in another currency, such as US shares.
- Interest: a share of the interest earned on customers’ uninvested cash.
Freetrade plans and fees
| Plan | Price | FX fee | Interest on cash |
|---|---|---|---|
| Basic | £0 | 0.99% | 1% AER on up to £1,000 |
| Standard | £4.99 a month billed annually (£59.88), or £5.99 monthly | 0.59% | 2.5% AER on up to £2,000 |
| Plus | £9.99 a month billed annually (£119.88), or £11.99 monthly | 0.39% | 3.5% AER on up to £3,000 |
All three plans include the ISA, SIPP, Junior ISA and General Investment Account and give access to all 8,600+ investments. Fees as listed on Freetrade’s pricing page in October 2026. Other charges may apply.
Which plan is cheapest? It depends on how much you trade in US shares. If you buy £5,000 of US shares a year, the FX fee is £49.50 on Basic and £29.50 on Standard. Add Standard’s £59.88 subscription and Basic is still cheaper. A paid plan only makes sense if you trade a lot in foreign currencies or want the extra interest.
How to buy shares on Freetrade
- Download the app on iOS or Android, or sign up on the web.
- Sign up: you need to be a UK tax resident with a UK bank account. You’ll give your name, date of birth, address, nationality and National Insurance number.
- Add money: by bank transfer or Apple Pay or Google Pay. You can also transfer an existing ISA or SIPP from another provider.
- Find an investment: search or browse for the share or ETF you want.
- Choose an amount: enter how much you want to invest. Freetrade shows how many shares, or fractions of a share for US stocks, you’ll get.
- Confirm: check the details and place your order. Your contract note appears in the app’s activity section.
New to the stock market? Read our stock market guide.
Freetrade free share
New customers who sign up through a referral link and fund their account with £50 within 30 days get a free share worth £10 to £100. The share goes into the General Investment Account, and you can’t withdraw it or the cash from selling it for 180 days.
Claim your Freetrade free share
Advantages of Freetrade
- No commission: you don’t pay dealing fees on shares and ETFs.
- Easy to use: the app is simple and well designed, and there’s now a web platform too.
- Small amounts: fractional US shares let you build a diversified portfolio with little money.
- All the main accounts on the free plan: ISA, Junior ISA, SIPP and General Investment Account.
- No exit fees: you can leave whenever you want.
Why do dealing fees matter? Say a broker charges £10 a trade and you buy £20 of shares. You’ve paid £30, so the share must rise 50% just to break even. On a £20,000 purchase, the same £10 is only 0.05%. Commission-free dealing makes the biggest difference for small investors.
Disadvantages of Freetrade
- FX fee: 0.99% on the Basic plan is high next to some rivals. Trading 212 charges 0.15%.
- Limited research tools: Freetrade is built for simple investing, not active trading.
- Bid-offer spread: like all brokers, you buy at a slightly higher price than you sell at. Check the price before you confirm a trade.
Is Freetrade safe?
Freetrade is authorised and regulated by the FCA (FRN 783189). Your investments are held in the name of a separate nominee company, Freetrade Nominees Limited. If Freetrade went bust, its creditors couldn’t use your investments to pay its debts. This is standard practice under the FCA’s client asset (CASS) rules.
If an FCA-authorised firm fails and can’t return your investments, the Financial Services Compensation Scheme (FSCS) may cover up to £85,000 per person. If you have a large portfolio, you might spread it across more than one provider.
Our experience with Freetrade
We’ve used Freetrade for years. The app is easy to navigate and placing trades is quick. Customer support through the in-app chat has usually replied within 20 to 30 minutes.
When we first opened an account, Freetrade’s main weakness was its small range of shares. With more than 8,600 investments now, that’s much less of an issue.
We think Freetrade works well as a first investing app or as a second account alongside a broader platform.
Disclaimer: This is not financial advice. The value of investments can go down as well as up.
Pedro is passionate about finance, marketing, and technology. He is a growth manager at several online projects and a former digital marketer for a fintech company.
