Other Review
Freetrade Review 2026 — Is Freetrade Legit?
Score Summary
out of 10
Freetrade is a UK-based commission-free investment app offering access to US and UK stocks, ETFs, and investment trusts. FCA-regulated with ISA and SIPP options, Freetrade targets younger investors seeking a low-cost, mobile-first investing experience.
Overview
Freetrade was founded in 2016 by Adam Dodds and launched to the public in 2018 with a mission to make investing accessible and affordable for everyone in the UK. The app offers commission-free trading in UK and US stocks, ETFs, and investment trusts through a clean, mobile-first interface. Freetrade supports general investment accounts, Stocks and Shares ISAs, and SIPPs.
The platform has attracted over 1.5 million users, primarily younger and first-time investors drawn to the zero-commission model and the ease of use of the mobile app. Freetrade operates on a freemium model, with a free basic tier and paid subscription tiers (Standard and Plus) that unlock additional features.
Tip
Freetrade's basic account offers truly free commission trading with no platform fees for the general investment account. The ISA costs GBP 5.99/month (Standard) or GBP 11.99/month (Plus), which also unlocks fractional shares, priority order execution, and a wider selection of stocks.
Regulatory Status
- FCA — Authorized and regulated (FRN 778036)
- FSCS — Eligible investments protected up to GBP 85,000
- CASS — Client money held in segregated accounts
Fee Structure
| Fee Type | Amount |
|---|---|
| Share Dealing | Free |
| Basic Account | Free |
| Standard Plan (includes ISA) | GBP 5.99/month |
| Plus Plan (ISA + SIPP + extras) | GBP 11.99/month |
| Foreign Exchange (US stocks) | 0.99% |
| Stamp Duty (UK stocks) | 0.5% (statutory) |
| Withdrawal Fee | Free |
Warning
The 0.99% FX fee on US stock purchases is higher than competitors like Interactive Brokers (0.03%) or Trading 212 (0.15%). For investors who primarily buy US stocks, this cost can be significant over time and partially offsets the commission-free trading benefit.
Platform & Tools
- Freetrade Mobile App — Clean, minimalist iOS and Android app with portfolio overview, stock pages, and simple buy/sell interface
- Discover Feature — Curated stock lists and thematic collections for idea generation
- Community — In-app forum for discussing stocks and investment ideas
- Fractional Shares — Available on Plus tier, allowing investment in high-priced stocks with small amounts
- Price Alerts — Customizable alerts for price movements
- Order Types — Market and limit orders only (no stop-loss or advanced order types)
The platform prioritizes simplicity, which makes it excellent for beginners but limiting for experienced investors who need advanced charting, technical analysis, or complex order types.
Customer Support
- In-app chat support during business hours
- Email support with 24-48 hour response times
- Help center with articles and FAQs
- No phone support
- Community forum for peer support
Customer support is Freetrade's weakest area, with users occasionally reporting slow response times during peak periods.
Trustworthiness
Freetrade is a regulated but still relatively young platform:
- FCA-regulated with FSCS protection
- Client assets held in segregated nominee accounts (BNP Paribas as custodian)
- Transparent about business model and revenue sources
- Raised capital through equity crowdfunding, giving users an ownership stake
- Still operating at a loss, which raises long-term viability questions
- No major security incidents or regulatory actions
Conclusion
Freetrade earns a Recommended verdict with a score of 7.3. It is an excellent entry-level platform for UK investors who want a simple, affordable way to start investing. Commission-free trading, a clean mobile app, and FCA regulation make it a solid choice for beginners. However, the limited stock selection on the free tier, high FX fees on US stocks, basic order types, and variable customer support mean that more experienced investors may outgrow the platform quickly.
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