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14 Mar 2024

Freetrade investment platform review

Which? experts analyse Freetrade's charges and ask its customers to rate it for service, tools, value for money and more

Megan ThomasResearcher & writer

In this article

Is Freetrade any good?
What do customers say about Freetrade?
How much does Freetrade cost?
What can you invest in with Freetrade?
Is Freetrade good for ethical investors?
Is your money safe with Freetrade?

Is Freetrade any good?

Which? members can exclusively read the results of our unique customer satisfaction survey.

Members can log in to read our analysis. If you're not already a member, join Which? and get full access to these results and all our reviews.

To become a Which? Recommended Provider (WRP) for either stocks and shares Isas or general investment accounts, a platform needs to have a customer score of at least 70%, not be in the top 25% most expensive in one of our fees scenarios, and not score lower than three stars in any category.

On top of these criteria, we apply statistical tests that place the platforms into ‘bands’, and only the platforms in the highest band – the ones that really stand out against the rest – can be a WRP.

Which?'s rating for customer satisfaction is based on feedback from customers.

We ask investors to rate their current platform for its ease of use, overall customer service and customer communications, whether it represents value for money, if they are satisfied with it overall and whether they would recommend it to someone else.

In January 2024, we heard 4,136 reviews and gave customer scores to 17 do-it-yourself investment platforms. Each platform must have at least 30 responses, a minimum of three investments to choose from yourself, and not offer contract for difference (CFD) trading to receive a customer score.

What do customers say about Freetrade?

‘I've never experienced an issue with them and they offer plenty of green investment opportunities. Their tools and advisors make investing an easy and enjoyable experience. Overall they're a great, knowledgeable platform.’
‘I like being in control of my investments but with access to good information and data, and this works for me.’
‘I thought using the app would be more enjoyable and interesting than it turned out to be, but I'm satisfied with it.’

How much does Freetrade cost?

Customers can invest via a general investment account on Freetrade's fee-free membership tier, but must sign up to a paid tier to open a stocks and shares Isa.

Annual platform charge:

No platform charge for its Basic tier
£5.99 a month (or £59.88 a year) for Standard
£11.99 a month (or £119.88 a year) for Plus

Trading charge:

None

Foreign exchange charge

This applies to each trade of investments denominated in another currency, for example US stocks, on top of fund and trading charges.

0.9% for its Basic tier
0.39% for Standard
0.25% for Plus

How much would I pay to invest with Freetrade?

We've estimated the cost of investing over the course of a year in a Freetrade stocks and shares Isa if you sign up to its Standard tier. For each investment platform, we assumed that you'll make four purchases and four sales each year.


£5,000
£10,000
£25,000
£50,000
£100,000
£250,000
£500,000

Read our comparison of investment platform charges to see how much investing with Freetrade costs for a range of portfolios.

What can you invest in with Freetrade?

Freetrade accounts and services

General investment account
Stocks and shares Isa (not flexible)
Self-invested personal pension (Sipp)

Investments on Freetrade?

350 investment trusts
515 exchange-traded funds
5,495 stocks
28-day UK treasury bills (on several maturity dates)

Correct as of January 2024

Is Freetrade good for ethical investors?

Freetrade doesn't allow you to filter its exchange-traded funds, and this includes filtering down to funds with ESG (environmental, social and governance) commitments.

There's also no additional detail on the ethical characteristics of these funds, such as top 10 holdings or ESG ratings.

Find out more: Ethical investing explained

Is your money safe with Freetrade?

Freetrade is regulated by the Financial Conduct Authority and covered by the Financial Services Compensation Scheme (FSCS).

When you invest with an investment platform that's registered with the Financial Conduct Authority, your money will be ringfenced and should be returned if a company goes bust, without you having to wait alongside other creditors.

If ringfencing failed, you would be compensated by the FSCS.

The FSCS will cover up to £85,000 of investments per person, per platform. You can claim for free online; there's no reason to use a claims management company.

You won't be compensated for investments falling in value, or if a company in which you hold shares goes bust, unless this poor performance resulted from bad advice given by a regulated Independent Financial Advisor that has since gone bust.