Free trade account

Interactive investor:
FX fee reduces on a tiered scale, based on transaction value: ВЈ25,000 - ВЈ49,999 is 1.25%, ВЈ50,000 - ВЈ99,999.99 is 1%, ВЈ100,000 - ВЈ599,999 is 0.5%, and ВЈ600,000 - ВЈ999,999.99 is 0.25%.

Huge forex bonuses

Pricing

Compare our general investment account

The comparison to other providers is based on published costs on their websites as of 08 january 2021, for a portfolio size of ВЈ5,000 and trades on shares and etfs within a general investment account.
Вђќ
вђќwhen you invest, your capital is at risk.

Compare our stocks and shares ISA

Your stocks and shares ISA costs a flat fee of ВЈ3/month, and there are no commissions for placing trades. For more information on how freetrade ISA works, you can check our stocks and shares ISA page. Alternatively, if you did your research already and know this is right for you, start an ISA transfer.

Compare our SIPP

Your SIPP costs a flat fee of ВЈ9.99/month, or ВЈ7/month if you are a freetrade plus member, and there are no commissions for placing trades. For more information on how freetrade SIPP works, you can check our SIPP page. Alternatively, if you did your research already and know that SIPP pensions are right for you, you can start a pension transfer.

Disclaimer: comparisons to other providers are based on our understanding of their published costs on their websites as at 08 january 2021, for trading shares and etfs within a SIPP account. They are shown for illustrative purposes only. For confirmation of their up to date charges and product information, you should visit their websites.

Before initiating a pension transfer make sure that you believe, with the help of a financial adviser if required, that this is the right action for you to take. This requires you to read and understand the freetrade SIPP key features document, terms and conditions, charges schedule and SIPP declarations.

Comparison disclosure в“˜

Hargreaves lansdown:

SIPP account charges 0.45% of the value of shares in your account, capped at ВЈ200/year.

Fee per trade reduces to ВЈ8.95 per trade for 10-19 trades, and ВЈ5.95 for 20 or more trades.

FX fee reduces to 0.75% after ВЈ5,000 value of trades, 0.5% for the next ВЈ10,000 and to 0.25% for over ВЈ20,000 value of trades.

Interactive investor:

For ease of comparison, we compared to the investor plan, where you get one free trade per month, then ВЈ7.99 per trade.

SIPP account charges ВЈ10/month, on top of the investor plan fee (ВЈ9.99/month).

FX fee reduces on a tiered scale, based on transaction value: ВЈ25,000 - ВЈ49,999 is 1.25%, ВЈ50,000 - ВЈ99,999.99 is 1%, ВЈ100,000 - ВЈ599,999 is 0.5%, and ВЈ600,000 - ВЈ999,999.99 is 0.25%.

SIPP account charges 0.25% of the value of the shares in your account, capped at ВЈ10/ month.

Fee per trade reduced to ВЈ4.95 when there were ten or more share deals in the previous month.

FX fee reduces on a tiered scale, based on transaction value: for the first ВЈ10,000 is 1.00%, ВЈ10,001 - ВЈ20,000 is 0.75%, ВЈ20,001 - ВЈ30,000 is 0.50% and 0.25% for over ВЈ30,000.

No charge for transfers out in cash to another UK registered pension scheme. ВЈ9.95 per holding (excluding VAT) for in specie transfers to another UK registered pension scheme.В

While youвђ™re on the waitlist, why not download the app and start investing today?

Full pricing

This is our full pricing structure. We have a freemium pricing model, where you can pay for extra features.

Calculator

Find out how much you could save with an account on freetrade in a few easy steps.

Competitor pricings:

Hargreaves lansdown:
monthly fees: ISA charges 0.45% a year on the value of shares in your account, capped at ВЈ45/year. SIPP charges 0.45% a year of the value of shares in your account, capped at ВЈ200/year.
Trading commission: we considered shared dealing charges based on the average number of trades done monthly within a year. Up to 9 deals per month ВЈ11.95/ trade, between 10 and 19 deals per month ВЈ8.95/ trade and ВЈ5.95/ trade for 20 or more deals per month.В
FX fees: depending the value of the trade, FX charges are as follows: first ВЈ5,000 - 1.00%, next ВЈ5,000 - 0.75%, next ВЈ10,000 - 0.50% and over ВЈ20,000 - 0.25%.

ВђќAJ bell:
monthly fees: ISA charges 0.25% of the value of the shares in your account, capped at ВЈ3.5/month. SIPP charges 0.25% of the value of the shares in your account, capped at ВЈ10/month. No charge for cash transfers out of an ISA or SIPP to another UK provider. Transferring out the underlying assets to another provider is ВЈ9.95 per holding.
Trading commission: we considered shared dealing charges based on the average number of trades done monthly within a year. Up to 9 deals per month ВЈ9.95/ trade and ВЈ4.95/ trade for 10 or more deals per month.
Вђќfx fees: depending the value of the trade, FX charges are as follows: first ВЈ10,000 - 1.00%, next ВЈ10,000 - 0.75%, next ВЈ10,000 - 0.50% and over ВЈ30,000 - 0.25%.В

вђќinteractive investor:
monthly fees: we considered all the charges based on their 'investor account', which is ВЈ9.99/ month. SIPP is ВЈ10 a month (inc VAT), payable monthly in addition to your service plan.
Trading commission: one free trade per month, then ВЈ7.99 per trade.
FX fees: depending the value of the trade, FX charges are as follows: ВЈ0 - ВЈ24,999.99 - 1.50%, ВЈ25,000 - ВЈ49,999.99 - 1.25%, ВЈ50,000 - ВЈ99,999.99 - 1%, ВЈ100,000 - ВЈ599,999.99 - 0.50% and ВЈ600,000 or more - 0.25%.

How to top up your freetrade account ��

As more and more users are added to the app, we wanted to dive into one of the first experiences in the app: topping up your freetrade account with investable money.

Right now and for the foreseeable future, our top-up method is bank transfers.

So, we wanted to share some tips on how to top up and some context on how we’re planning to improve the experience.

How to top up

Head to your account tab and follow the steps below.

Now you just need to head to your banking app or online banking and enter these details to make the transfer. Remember to use your unique reference number!

Your transfer will be with you within 2–4 hours if you send it between 8 AM — 4 PM, monday to friday.

Why is there sometimes a wait before my top-up appears?

We can get your money into your account within four hours if you make your deposit between 8 AM — 4PM on a working day.

If you top up over the weekend, the money should be there by 9 AM monday morning. On a midweek evening, it should come through around 9 amthe next day.

If you’re waiting longer than expected, it’s likely for one of these reasons:

Forgetting the unique reference ��

Definitely can happen! It’s not super clear you can copy the number in the app (we’ll change this) and it’s easy to just forget too.

Transferring from a different account ��

We can only top up your freetrade account with money from your linked bank account. Transfers from other accounts won’t make it!

Some of our users use pre-paid apps (loot, revolut) for some of their money management. These look like banks, smell like banks, but they aren’t banks and not only can we not accept money from them from a regulatory point of view, returning the money afterwards is a big headache.

How we’re improving it!

First up, we’re working on removing extra waiting time due to our anti-money laundering (AML) checks.

While they’ll remain as strong as ever ��, the first deposit is the one most likely to be delayed by extra checks. After we’ve validated your account once, future payments should go straight through.

We’re also working on deposit notifications for the app, so you don’t have to keep checking to see if the money’s arrived.

In terms of leaving the app to transfer, in the longer term the new ‘open banking’ regulation will hopefully allow us to build an in-app solution. Direct debits are on the roadmap too, which will make topping up much easier.

We also looked at card payments but decided we just couldn’t justify the high cost with our low fee, user-first model. Leading challenger banks are coming to the same conclusion.

In the shorter term, we’ll be making it much easier to copy your unique reference over to your banking app. Have you noticed we’ve mentioned the ‘unique reference’ a lot? ��

Top-up tips

These are the most important steps to make sure your cash arrives quickly:

Always make transfers from your linked bank account

Make sure you use the correct reference

Don’t try to send money from e-money providers (revolut, transferwise etc) — as these aren’t banks we cannot accepts funds from them

If you want to invest on a regular basis, you could also set up a standing order to fund your account— then you don’t have to think about it going forward!

We’re working hard to improve the process, and hopefully one day we’ll be able to make it almost instant.

Until then if you’re worried about missing an investment opportunity, make sure you keep your account topped up!

We’re on a mission to bring fee-free investing to europe and beyond. ��

Freetrade SIPP

Tax-efficient pension savings that you fully control. All for a flat fee of ВЈ9.99/month, or ВЈ7/month if you are a freetrade plus member.

We've sent you a link. Please click it to join the waitlist and become eligible for the free share.

By entering your email, you agree to receive SIPP related updates from freetrade. Privacy policy

When you invest, your capital is at risk.

Why choose a SIPP?

And much, much more.

Pension transfers

Consolidating your pensions into one pot can make it easier to track your pension growth and manage your investments. Moving your pension to freetrade is easy, and you wonвђ™t have to pay any setup or transfer in fees.

Receive HMRC tax relief with our SIPP

For your pension contributions, we'll claim the 25% tax relief from HMRC on your behalf and deposit it in your freetrade SIPP account automatically. It normally takes around 6-11 weeks from the contribution to the tax relief appearing in your account. The HMRC tax relief depends on your eligibility. You can read more about tax relief here.

Why open a SIPP with freetrade?

SIPP fees and charges

Transparent fee structure for your tax-efficient SIPP pension; pay a flat fee of ВЈ9.99/month,
or ВЈ7/month if you are a freetrade plus member.

Comparison disclosure в“˜

Hargreaves lansdown:

SIPP account charges 0.45% of the value of shares in your account, capped at ВЈ200/year.

Fee per trade reduces to ВЈ8.95 per trade for 10-19 trades, and ВЈ5.95 for 20 or more trades.

FX fee reduces to 0.75% after ВЈ5,000 value of trades, 0.5% for the next ВЈ10,000 and to 0.25% for over ВЈ20,000 value of trades.

Interactive investor:

We compared to the investor plan account for ease of comparison, where you get one free trade per month, then ВЈ7.99 per trade.

SIPP account charges ВЈ10/month, on top of the investor plan fee (ВЈ9.99/month).

SIPP account charges 0.25% of the value of the shares in your account, capped at ВЈ10/ month.

Fee per trade reduced to ВЈ4.95 when there were ten or more share deals in the previous month.

FX fee reduces on a tiered scale, based on transaction value: for the first ВЈ10,000 is 1.00%, ВЈ10,001 - ВЈ20,000 is 0.75%, ВЈ20,001 - ВЈ30,000 is 0.50% and 0.25% for over ВЈ30,000.

No charge for transfers out in cash to another UK registered pension scheme. ВЈ9.95 per holding (excluding VAT) for in specie transfers to another UK registered pension scheme.

While youвђ™re on the waitlist, why not download the app and start investing today?

Learn more

What's a SIPP?

We explain the ins and outs of the tax efficient pension account

SIPP vs ISA: this time it's personal (finance)

We look at what the right account is for you

Frequently asked questions (campaign)

When does this campaign end?

6th december 2020, at 23:59.

What happens when I join the waiting list? Will I get charged?

Joining the waitlist is the first step in getting your free share. With joining, you register your interest, but you will only be charged the SIPP subscription fee once you actually open your account.

For tax reasons, weвђ™re not able to place your free share into your SIPP.

What happens if I close my freetrade SIPP within a year of opening?

You will forfeit your free share, or the amount equal to the value of the free share at the time of awarding.

I already have a pension account elsewhere, can I transfer it?

Youвђ™ll normally be able to transfer your pension from a different provider (subject to terms and conditions). There will be no fees from us for doing so, though your provider may charge you exit fees. It is up to you to ensure this is the right thing for you to do, with the help of a financial adviser, if required. Alternatively, you can have a freetrade SIPP as well as another pension plan.

We will award your free share in the next 30 days after you open and contribute to your SIPP account or all your pension transfers initiated within 30 days after freetrade SIPP is open are complete.
Вђќ
the free share is yours for as long as you want it unless you transfer out your SIPP within a year of opening a freetrade SIPP account.
Вђќ
we will contact you to let you know that you have qualified to receive your free share as part of this promotion. Your free share will land in your general investment account (GIA).

The free share will be based on the value of your SIPP portfolio size 30 days after the freetrade SIPP launch or once all pension transfers started within 30 days after the freetrade SIPP launch have completed.
Вђќ
the minimum free share value youвђ™ll receive will be based on your SIPP portfolio size. You can see example free shares in the above table.

Have questions? Email us at hello@freetrade.Io or reach out via in-app chat.

Frequently asked questions

General SIPP FAQ

What is a SIPP?

A self-invested personal pension, or a вђњsippвђќ, is a type of investment product that helps you build your savings for retirement. Notably, a SIPP gives you much more flexibility with the investments you can select when compared to typical personal pensions.

Once you invest money into a SIPP it will be locked up until you turn 55. You can then start drawing funds, even if you havenвђ™t stopped working. You can withdraw up to 25% of your fund as a tax-free lump sum with the remainder used to provide an income.

What can I invest in with freetrade?

You can invest in a wide range of listed shares, etfs and investment trusts with your freetrade SIPP. Weвђ™ve got a full list of the investments available on our platform that we update regularly.

Can I transfer old pension pots into a freetrade SIPP?

Yes. You are able to transfer old pension pots (maybe some you forgot about!) into your freetrade SIPP.

How much can I contribute each year?

Contributions are capped at 100% of your annual income. Youвђ™re also able to claim tax relief on the first ВЈ40,000 you contribute each year.

Do transfers count towards my contributions?

No, transfers donвђ™t use up your annual allowance. You should be aware, though, that some providers may charge exit fees or other surcharges in order to transfer.

Can my employer contribute?

We are not allowing this to start with, but hope to in the future.

Will the HMRC 25% tax relief be added to my freetrade SIPP account if I make a contribution?

We claim the 25% tax relief on behalf of the customer and deposit it in their freetrade SIPP account for them automatically. It normally takes around 6-11 weeks from the top-up to the money entering their account.

What type of pension can I transfer?

You can transfer the below types of pensions to a freetrade SIPP:
вђќ
- SIPP
- individual personal pension (IPP)
- stakeholder pension plan (SHP)
- free standing additional voluntary contributions (FSAVC)
- contract-based workplace pension plan*
- trust-based workplace pension plan*
- subject to current plan rules. Some workplace pension plans cannot be transferred whilst still active.

Currently, we are unable to accept final salary personal pension, defined benefit pension plan or any pensions that contain safeguarded benefits including protected tax-free cash (PTFC), protected retirement ages (PRA), guaranteed annuity rates (gars) or guaranteed minimum pensions (GMP).
Вђќ
there is no limit on how many pensions someone can have (e.G. NHS pension and a freetrade SIPP), but clients should be aware of their own circumstances. Check more details on how to transfer your pension to freetrade.

Can I move cash from other freetrade accounts to my freetrade SIPP?

Currently, you will not be able to move cash from their ISA or GIA directly into a freetrade SIPP.

When did this campaign end?

6th december 2020, at 23:59.

What happens when I join the waiting list? Will I get charged?

I already joined the SIPP waitlist before the promotion started. Will I qualify to get the free share?

Yes, absolutely! If you have joined the SIPP waitlist before 18 november 2020, you will qualify to get your free share if you complete the rest of the steps as part of this promotion.

For tax reasons, weвђ™re not able to place your free share into your SIPP.

What happens if I close my freetrade SIPP within a year of opening?

You will forfeit your free share, or the amount equal to the value of the free share at the time of awarding. This amount will be repayable to freetrade.

I already have a pension account elsewhere, can I transfer it?

Youвђ™ll normally be able to transfer your pension from a different provider (subject to terms and conditions). There will be no fees from us for doing so, though your provider may charge you exit fees. It is up to you to ensure this is the right thing for you to do, with the help of a financial adviser, if required. Alternatively, you can choose to have a freetrade SIPP as well as another pension plan.

We will award your free share in the next 30 days after you open and contribute to your SIPP account or all your pension transfers initiated within 30 days after freetrade SIPP is open are complete.
Вђќ
the free share is yours for as long as you want it unless you transfer out or close your SIPP within a year of opening a freetrade SIPP account, in which case the value of the share awarded will be required to be repaid. Terms apply
вђќ
we will contact you to let you know that you have qualified to receive your free share as part of this promotion. Your free share will land in your general investment account (GIA).

Have questions? Email us at hello@freetrade.Io or reach out via in-app chat.

1. This waitlist promotion of free shares is only offered on the understanding that you will only apply for a freetrade SIPP, make contributions to it and request any transfers to be made from other pension plans on the basis that you believe, with the help of a financial adviser if required, that these are the right actions for you to take. This requires you to read and understand the freetrade SIPP key features document, terms and conditions, charges schedule and application declarations.

2. A free share will only be gifted to you if you join the waitlist by 23:59 on 6th december 2020, open a freetrade SIPP, including adding your payment card details for the monthly SIPP subscription charge, and contribute to your SIPP account or initiate a pension transfer within 30 days of the freetrade SIPP launch.

3. The free share gifted will be based on your SIPP portfolio size 30 days after the freetrade SIPP is launched, or when all pension transfers that were initiated during the 30 day period after the freetrade SIPP is launched are complete.

4. The exact reward free share will be awarded at freetradeвђ™s discretion, and it may not be an example free share featured in the above promotional table.

5. If you close your freetrade SIPP or withdraw all of your funds within a year of opening a freetrade SIPP account, you will forfeit your free share or the amount equal to the value of the free share at the time of awarding.

6. Employees and contractors of freetrade are not eligible for this offer.

7. The offer is only available if you are eligible and accepted as a freetrade customer. This applies to UK tax residents only, and unfortunately excludes US nationals or dual US nationals who reside in the UK. We reserve the right to refuse to onboard an applicant customer.

8. Neither receiving a share through this promotion nor any mentions of particular securities in our communications as part of this promotion represents a recommendation to buy, sell, or hold any particular security.

9. To be granted a free share as part of this promotion, you must complete your W-8BEN form.

10. Your free share will be awarded into your general investment account (GIA).

11. Receiving a free share may have tax implications. Freetrade does not take any responsibility for tax related to this stock award.

12. Freetrade retains full discretion to determine whether a customer has fulfilled all of the requirements to participate in this offer and can withdraw, remove or vary the free share offer at any time for any customer.

13. Freetrade does not provide investment advice and individual investors should make their own decisions or seek independent advice.

14. By entering your email, you agree to receive SIPP related updates from freetrade.
Вђќ

With the freetrade app, you can invest in stocks and etfs, with no commissions or hidden fees.

Refer a friend to freetrade from your app, and get a free share worth between ВЈ3 and ВЈ200. Рџћ‰

When you invest, your capital is at risk.

How it works

FAQ

How does it work?

Tap on the free share button in your app. Рџћџ

You refer a friend, and once your friend opens and fund their account and fills out their W-8BEN form, you both get a free share from freetrade. Рџ‘Ї

The stocks will be randomly selected from a list of interesting companies, etfs, and trusts, with a value from ВЈ3 to ВЈ200. This is a bit like a lottery, except you always win something and we think itвђ™s better than cash!

You can get both UK and US stocks.

The stock will drop into your general investment account. We canвђ™t put it in your ISA.

Both you and your friend must have a funded account and have completed the W-8BEN form that lets you invest in US stocks. If your referral doesn't fill out their W-8BEN form, we reserve the right to allocate a free UK share to your referral.

Up to ВЈ200?

Yes, thatвђ™s right вђ“ if youвђ™re lucky, you might get a free share in lululemon or microsoft. Let us know if you do!В

Donвђ™t despair if you donвђ™t get a super valuable stock, just refer again!

Is this available on both ios and android?

When will I be able to invite friends?

To be able to refer, fund your account and fill out your W-8BEN form.

Yes! Use your personal referral link to share with your friends. Every friend who downloads the app from your referral link will count.

Can I refer more than one friend?

Yes! Use your personal referral link to share with your friends. Every friend who downloads the app from your referral link will count.

Do I get the same stock as my friend?

Not likely, but possible. Allocating free shares is a completely randomised process.

Вђќ
when will I receive my stock?

You should receive this within 7-10 days. Orders can be rejected for a number of technical reasons, unrelated to free share referrals.

There are certain stocks I donвђ™t want for ethical or personal reasons, can I swap?

We canвђ™t offer swaps at this stage, but youвђ™re free to sell your share.

Follow this community topic for more updates, as they happen.

Click the referral link from your friend.

Submit your email.

Download the freetrade app from the app store or google play.

Once youвђ™ve completed account setup, youвђ™ll be guided through a couple of steps:

The W-8BEN form to let you invest in US stocks.

Topping up your account.

Once youвђ™ve topped up and the money has arrived in your account and you have filled out your W-8BEN form, a mystery share will appear in your general investment account on your portfolio screen. Weвђ™ll grant the share itself in the coming weeks.

Shares are chosen from a selection of around 90 stocks from our universe.

Theyвђ™re chosen randomly, so you and your friend may not receive the same share. Fun!

The share will range in value from ВЈ3 up to ВЈ200 at the point of being awarded.

Referrer's terms

Freetradeвђ™s free share referral program is valid for existing qualifying customers, who have successfully completed a referral.

A referral canвђ™t be given to an existing or previous freetrade customer.В

A stock is only awarded if the referred customer has onboarded, funded their account and used your referral pass to sign up (i.E. Not just downloading the app directly).

The recipient must fund within 30 days of referral link creation otherwise the award lapses.

For a customer to be eligible for a free share you must have already invested and completed a W-8BEN declaration. If you haven't filled out your W-8BEN form, we reserve the right to allocate a free UK share.

The free shares will range in value from ВЈ3 up to ВЈ200 per share (at the time of our award). The probability is weighted so more expensive shares will be rarer - good luck!

If you sell your free share, you cannot withdraw the cash proceeds for 30 days from the date it was awarded.

Employees and contractors of freetrade are not eligible for this offer.

The offer is only available where the referred customer is eligible and accepted as a freetrade customer. This applies to UK tax residents only, and unfortunately excludes US nationals or dual US nationals who reside in the UK. We reserve the right to refuse to onboard an applicant customer.

Neither receiving a share through this program nor any mentions of particular securities in our communications as part of this referral program represents a recommendation to buy, sell, or hold any particular security.

Receiving a free share may have tax implications for the recipient; freetrade does not take any responsibility for tax related to this share award.

Itвђ™s in our full discretion to withdraw, remove or vary the free share offer at any time for any customer.

Each referee is only eligible for one free share.

The free share is one stock selected randomly when the referral criteria is met, from the stocks selected for this program. The probability is weighted so more expensive shares will be rarer.

Freetrade does not provide investment advice and individual investors should make their own decisions or seek independent advice.

Recipient's terms

A referral canвђ™t be accepted by an existing or previous freetrade customer.В

Free shares are only gifted when you onboard, fund your account and used your referral pass to sign up (i.E. Not just downloading the app directly).

The free shares will range in value from ВЈ3 up to ВЈ200 per share (at the time of our award). The probability is weighted so more expensive shares will be rarer - good luck!

If you sell the free share, you cannot withdraw the cash proceeds for 30 days from the date it was awarded.

You must fund your account within 30 days of referral link creation otherwise the award lapses.

Employees and contractors of freetrade are not eligible for this offer.

The offer is only available if you are eligible and accepted as a freetrade customer. This applies to UK tax residents only, and unfortunately excludes US nationals or dual US nationals who reside in the UK. We reserve the right to refuse to onboard an applicant customer.

Neither receiving a stock through this program nor any mentions of particular securities in our communications as part of this referral program represents a recommendation to buy, sell, or hold any particular security.

To be granted a free share you must fund your account and complete your W-8BEN form. If you haven't completed your W-8BEN form, we reserve the right to allocate you a UK share.

Receiving a free share may have tax implications for the recipient; freetrade does not take any responsibility for tax related to this stock award.В

Itвђ™s in our full discretion to withdraw, remove or vary the free share offer at any time for any customer.

Each referee is only eligible for one free share.

The free share is one stock selected randomly when the referral criteria is met, from the stocks selected for this program. The probability is weighted so more expensive shares will be rarer.

Freetrade does not provide investment advice and individual investors should make their own decisions or seek independent advice.В

You agree to receive marketing and product communications from us. You can unsubscribe at any time.

We will keep the person who referred you up to date on how far through the process you are, and will display your name in their account.

Taxes

The entire value of the share when sold may be subject to capital gains tax. You can check the value of each share when issued and/or sold on your portfolio screen.

Tax depends on your personal circumstances and if you are unsure about any tax implications, seek advice from a tax professional.

Freetrade reviews

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Reviews 666

Traderecovery.Net is the best for you…

Traderecovery.Net is the best for you to make your investment now, this platform is just paying good and you should not delay to invest, do it now and thank me later.

Great website where your money can…

Great website where your money can fluctuate happily up or down, no pressure to invest huge sums of cash, it’s for any or everyone to enjoy. Taken seriously it could probably make experts in stocks or shares, a mint!

Getting my money back wasn't so easy as…

Getting my money back wasn't so easy as it was strenuous and tiring. Initially, they started asking for unnecessary paperworks and documents as part of their ploy to delay. Later, they requested an exorbitant withdrawal fee which I paid reluctantly. It was when they requested for a document which I had provided earlier, I figured something might be wrong. I reported my situation to mrs lorraine a renowned recovery specialist' lorrainerahn89 at yahoo.Com and I got my money back after a long charge-back process as companies hate being hit with a charge back as it dampens the reputation.

Freetrade is excellent

I’m a big fan of freetrade, so much so that I’ve moved my pension over to their SIPP product. I’ve found it a very user friendly interface for investing and in the 8 months I’ve been on the platform they are constantly adding functionality and improving things. The company ethos seems to be a lot more transparent than some of the other investing platforms out there, I really like where the company is going and would recommend anyone to at least give them a try. Their general investment account product is free so give it a go!

The worst customer service ever

The worst customer service I have ever seen. I am trying to get assistance for three days through their chat service, but no one answers. I sent regular messages in the chat trying to get their attention but nothing. Imagine having your money in it and cannot withdraw. You would live the worst days of your life. Thanks freetrade.

Ok for beginners, but not a great range of investments

Freetrade right now is a decent service for beginners that has the potential to be great.

The good:
- ISA was easy to setup, as was my general investing account.
- the app is nice and easy to use.
- as a pro user, their team are quick to respond (waaaay faster than other trading platforms).
- the rates are very good. And 3% interest on uninvested cash for pro users is a nice extra.

The bad:
- they don't offer a great selection of companies to invest in, so even as a beginner I'm starting to think I need to port over to another provider with access to more companies and more markets.
- the bid-ask spread seems to be a bit worse than other platforms, so any fast moving trades can leave you out of pocket (I could be wrong on this - but they don't tell you the spread anyway so there's no way to be sure)
- they also don't offer anything beyond simple share buying like options, warrants, margin etc. - even in the general investing account.

It's all very nice to use and the rates are very good, but if you want to trade/invest seriously I think you should look at other platforms first. If you're just looking for an easy way to get a stocks and shares ISA setup and start buying things like apple, google etc, then it's ideal for that.

Still waiting a week for my deposit to…

Still waiting a week for my deposit to show up. Wouldn’t recommend using.

- slow service
- poor communication
- not entirely clear why I can’t add or remove funds.
- if you’re in a rush to invest - not a good option.

Terrible functionality, now worse gatekeeping of stocks

Really terrible functionality was my main issue, until recently where they've made the majority of good stocks only available for premium users (£10 a month). When I tried to swap my stocks to another platform, as ALL major platforms allow you to do, they advised this isn't possible. Cannot wait to sell up and stop using them.

Update to response: I’ve been trying to message you for two days.

Thanks for leaving us a review.

Could you please drop us a message about this to reviews@freetrade.Io? ��

So far am wining

Never have left a review and probably will never leave one again. But so far am winning from freetrade so just wanted to tell them thank you ��

Excellent app very easy to use and…

Excellent app very easy to use and happy with my results

Very poor functionality

Very poor functionality. Main criticism:
1. Cannot auto execute trades
2. Prices are not live
3. Trades can take up to 1hour to close.
4. Cannot short sell

Not recommended for dynamic investors.

A number of stocks and basic indices are not available to trade

They claim the free tier is free for…

They claim the free tier is free for ever but what they don't tell you is that they will move shares previously available to the free tier to their plus only subscription!

They also take about a week to reply to messages, so forget getting any urgent help with a trade.

I guess they are free for a reason.

Thanks for leaving us a review.

Could you please drop us a message about this to reviews@freetrade.Io? ��

Simple and convenient

I was introduced to this app by a…

I was introduced to this app by a friend, the app was poorly designed and the customer service was non-existent.

I didn't add no bank account to my freetrade account while signing up, when I wanted to fund my freetrade account, I discovered that a fictitious bank account had already been associated to my freetrade account. To correct this issue.

I sent a chat to report the issue, no single response till now. To be honest, the app needs total revamping.

Freetrade needs to get their acts together if they really want to compete in this saturated market.

Due to their lackadaisical attitude towards customer service, this has caused me substantial financial loss.

I would advice, if you are not ready as a business then you shouldn't have ventured out at all.

Please get your acts together and make sure you have a robust system and functioning teams in place before you start out as a business.

I will never recommend freetrade at all.

Thanks for taking the time to leave a review and sharing your feedback here.

When it comes to adding a bank account to an account, a bank account can only be linked by a customer entering this in the app at the point of initially depositing. We do display the last four digits of the bank account number so that this can be cross-checked if needed on the account tab in-app.

We've had an unprecedented number of queries in the recent weeks and response times have suffered as a result. The team are working around the clock to get back to all customers as soon as possible, we're really sorry that you've been impacted by this.

We’re actively hiring and working on internal efficiencies to help alleviate this backlog and resume our usual level of service.

So we can look into this further for you, please could you reach out to reviews@freetrade.Io?

Takes to long to cash out way to slow…

Takes to long to cash out way to slow for my liking

Thanks for taking the time to leave a review and sharing your feedback here.

Withdrawals can take 3-5 working days to process as we do process these via BACS which has this set timeframe on the banking network. We are continuously reviewing alternative methods of deposits and withdrawals, and we'll be sure to share your feedback internally.

Do not hesitate to buzz us on chat, or email us at reviews@freetrade.Io if you have any more feedback for us.

Customer service responces are non…

Customer service responces are non existent unless you write a review on the play store or here on trust pilot.
I have an issue that has been going on for over 20 days, and attempted to use their customer service chat system repeatedly. I finally received one response after reviewing the app on play store which asked for more info. After providing more info, there have been no responces despite numerous prods. Of course they appear to put resources into negative reviews here on trust pilot, but not their own customer service system.
This is at the stage of testing the water before transferring assets over, I also have family members doing the same with issues arising so its not isolated. It appears they can't be relied upon at all so why would I put significant funds on the platform.

Thanks for your feedback and really sorry for your experience here.

We've had an unprecedented number of queries in the recent weeks and response times have suffered as a result. We’re actively hiring and working on internal efficiencies to help alleviate this backlog and resume our usual level of service. The team are working around the clock to get back to all customers as soon as possible.

If you are still awaiting an update on your query, please could you reach out to reviews@freetrade.Io?

I was tempted to try freetrade by a gimmick they promote offering a free share. Why not? I thought. For a bit of spontaneous buying and selling without dealing charges, could be fun.
6 weeks later I still haven't got my free share. I've been chasing it via their online chat and responses take days and often don't happen at all; I'm reduced to "anyone there?" messages. It seems that usually there isn't.
Each time I have to spend my valuable time chasing them, I suggest they might like to up the offer by one. I'm currently suggesting that 7 free shares would be reasonable.
For me, with very little invested with them, this is a mere annoyance. I'm glad I didn't move over my ISA or anything.
Based on current experience, definitely not recommended.

Thanks for taking the time to leave a review and share your feedback. We're sorry to hear of your recent experience.

In almost all cases a free share is queued up automatically once conditions have been met, but there is a very small amount of times where it needs to be manually reviewed. It sounds like this could be the case here, our engineering team are working on ways to minimise manual intervention further.

Unfortunately, the team are inundated with customer queries at present and response times have suffered as a result. We’re currently hiring and working on internal efficiencies to help alleviate this backlog and resume our usual level of service. We’re really sorry that you, and many other customers, have been impacted by these delays.

If you are still awaiting this to be queued up to be awarded, please could you reach out to reviews@freetrade.Io?

Very good app with very helpful

Unreliable data a serious problem

I invested in freetrade’s last funding round but as an investor I am seriously disturbed by the future of this app and do not expect it to become a serious competitor in this space if it continues with an unreliable platform (including data for stocks and execution) and awful, impersonal customer service.

I have been using the app for a while but have increasingly found that the app is awful in terms of execution. This can cause you money when executing buy and order sells. Furthermore, the app has had several issues whereby freetrade is forced to close trading on US stocks (for example) for quite a few hours of trading. I use HL and in truth have never experienced the sort on that platform and furthermore at least if there is an issue is possible to actually call somebody in customer service. On freetrade a ‘representative’ (more like an automated bot) doesn’t actually read or understand the issue and just sends a generic email about a system ‘glitch’ and essentially avoids any culpability.

I’ll give you an example. On 12 january, I was misled into selling shares at a low by the app because the app specified the share price of the stock ($PAYS) had increased from 4.9 usd per share to usd 72 per share. Of course I sold due to incorrect information on the app. When I received the contract note after the order had been executed, I discovered I had sold the shares at usd 4.9 ( a massive loss) and lost 30 per cent of my initial investment. I reported this to customer service and instead of a personal email, got a generic email about a system glitch from someone called megan with no indication that the problem was at least being investigated. This is disappointing and distressing to say the least but unfortunately not surprising. I have reported similar finds in the past and the team at freetrade does not seem to take seriously the fact that if they allow incorrect data on their platform, people will make the wrong investment decisions. An app should at their very least provide the correct market data. Due to this and the lack of decent customer service will be opening a trading 212 account in april.

This has been a disappointing experience with freetrade and will be relieved to finally trade on an app with better user functionality and reliability at the very least.

Thank you for taking the time to leave us a review, and sharing your feedback. We’re really sorry to hear about your experience.

As a fast-growing startup, we’ll always take learnings when things don’t go quite right and our engineering and product team are working on building out features customers want to see in-app as well as building a product that customers can trust.

We aim to always provide the best possible customer support and we’re sorry to hear that your recent experience fell short of this. Unfortunately, the team are inundated with customer queries at present and response times have suffered as a result. We’re currently hiring and working on internal efficiencies to help alleviate this backlog and resume our usual level of service. We’re really sorry that you, and many other customers, have been impacted by these delays. Whilst we don’t offer a phone support service at this time, this feedback has been shared internally.

On 12th january, one of our partner providers experienced a technical issue where incorrect pricing was being displayed in-app. This required us to pause trading on US securities; an action that we don’t take lightly, but was determined as necessary and in the best interests of our customers at the time.

Whilst customers may have observed inaccurate pricing in-app as a result of this issue, we can confirm that all orders were executed at the genuine market price at that time and we did message after the issue had been resolved to assure customers of this.

How to top up your freetrade account ��

As more and more users are added to the app, we wanted to dive into one of the first experiences in the app: topping up your freetrade account with investable money.

Right now and for the foreseeable future, our top-up method is bank transfers.

So, we wanted to share some tips on how to top up and some context on how we’re planning to improve the experience.

How to top up

Head to your account tab and follow the steps below.

Now you just need to head to your banking app or online banking and enter these details to make the transfer. Remember to use your unique reference number!

Your transfer will be with you within 2–4 hours if you send it between 8 AM — 4 PM, monday to friday.

Why is there sometimes a wait before my top-up appears?

We can get your money into your account within four hours if you make your deposit between 8 AM — 4PM on a working day.

If you top up over the weekend, the money should be there by 9 AM monday morning. On a midweek evening, it should come through around 9 amthe next day.

If you’re waiting longer than expected, it’s likely for one of these reasons:

Forgetting the unique reference ��

Definitely can happen! It’s not super clear you can copy the number in the app (we’ll change this) and it’s easy to just forget too.

Transferring from a different account ��

We can only top up your freetrade account with money from your linked bank account. Transfers from other accounts won’t make it!

How we’re improving it!

First up, we’re working on removing extra waiting time due to our anti-money laundering (AML) checks.

We’re also working on deposit notifications for the app, so you don’t have to keep checking to see if the money’s arrived.

We also looked at card payments but decided we just couldn’t justify the high cost with our low fee, user-first model. Leading challenger banks are coming to the same conclusion.

In the shorter term, we’ll be making it much easier to copy your unique reference over to your banking app. Have you noticed we’ve mentioned the ‘unique reference’ a lot? ��

Top-up tips

These are the most important steps to make sure your cash arrives quickly:

Always make transfers from your linked bank account

Make sure you use the correct reference

Don’t try to send money from e-money providers (revolut, transferwise etc) — as these aren’t banks we cannot accepts funds from them

If you want to invest on a regular basis, you could also set up a standing order to fund your account— then you don’t have to think about it going forward!

We’re working hard to improve the process, and hopefully one day we’ll be able to make it almost instant.

Until then if you’re worried about missing an investment opportunity, make sure you keep your account topped up!

We’re on a mission to bring fee-free investing to europe and beyond. ��

Forex brokers with rollover-free (swap-free) accounts

Below is the list of forex brokers who offer islamic or swap-free accounts with no rollover charges.

Besides muslim friendly forex brokers, there are also brokers who offer interest-free accounts to all traders.

Islamic account – can be opened for muslims only.
Any account – can be opened for any client.
Standard account – needs further review.

Benefits of rollover free trading

For certain currency pairs depending on the market position taken rollover can either be negative (means you have to pay) or positive (means you get paid). With rollover/swap free forex accounts trader don’t pay anything nor they get paid for holding positions past 17:00pm (ask your broker about the time zone they use) when rollover is calculated.

Forex currency trading accounts that receive no rollover/no swap can be a good option for traders who employ long term trading strategies, starting from holding trades longer than a day and up to a month or so, and who don’t want to pay rollover fees.

Rollover/swap free forex accounts are perfect for carry trade and hedging strategies where traders look to profit from holding currencies which earn positive rollover (with a broker that applies rollover/swaps) and at the same time look to offset any trading risks by hedging the same currency pair with another broker which applies no rollover fees, but instead charges a small commission.

What is a forex islamic account?

Under sharia islamic law, making money from money, such as receiving interest, is not permitted.
Wealth should be generated only through legitimate trade and investment in assets.

Basic principles of finance in islam state that:
– giving or receiving an interest is not allowed;
– money cannot be traded for money, instead, money can be used to buy goods or services, which then can be sold for a profit.

In order to meet needs of muslim traders forex brokers offer islamic accounts with strict compliance with shariah law:
the interest payment on the account balance is waived. Instead traders are charged a small daily service fee for positions held overnight. Alternatively there could be special conditions on spreads, where traders pay one pip higher spread on all currency pairs.

Forex islamic accounts offer a halal (permissible) investment opportunity that involves zero riba (interest). Forex is a spot currency market which makes it halal. Forex is no different from the traveler changing money on the spot when he enters a foreign country.

An approximate list of countries whose residents can apply for swap-free trading accounts:

Afghanistan, albania, algeria,
bahrein, bangladesh, brunei
comoro islands
djibouti
egypt
indonesia, iran, iraq
jordan
kuwait
libya
malaysia, maldives, mauritania, morocco
niger, nigeria
oman
pakistan, palestine
qatar
saudi arabia, somalia, sudan, syria
tunisia, turkey
UAE
western sahara
yemen

Acceptance rules may vary from broker to broker.

Do you know another forex broker that has rollover(swap) free trading accounts?
Please suggest by adding a comment below.

Keep updated with our round the clock and in-depth cryptocurrency news.

Risk warning: investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.G. Contracts for difference (“cfds”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

Cfds and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

When trading in stocks your capital is at risk.

Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.

Free trade agreement (FTA)

What is a free trade agreement (FTA)?

A free trade agreement is a pact between two or more nations to reduce barriers to imports and exports among them. Under a free trade policy, goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.

The concept of free trade is the opposite of trade protectionism or economic isolationism.

Free trade

How a free trade agreement works

In the modern world, free trade policy is often implemented by means of a formal and mutual agreement of the nations involved. However, a free-trade policy may simply be the absence of any trade restrictions.

A government doesn't need to take specific action to promote free trade. This hands-off stance is referred to as “laissez-faire trade” or trade liberalization.

Governments with free-trade policies or agreements in place do not necessarily abandon all control of imports and exports or eliminate all protectionist policies. In modern international trade, few free trade agreements (ftas) result in completely free trade.

Key takeaways

Free trade agreements reduce or eliminate barriers to trade across international borders.

Free trade is the opposite of trade protectionism.

In the U.S. And the E.U., free trade agreements do not come without regulations and oversight.

For example, a nation might allow free trade with another nation, with exceptions that forbid the import of specific drugs not approved by its regulators, or animals that have not been vaccinated, or processed foods that do not meet its standards.

The benefits of free trade were outlined in on the principles of political economy and taxation, published by economist david ricardo in 1817.

Or, it might have policies in place that exempt specific products from tariff-free status in order to protect home producers from foreign competition in their industries.

The economics of free trade

In principle, free trade on the international level is no different from trade between neighbors, towns, or states. However, it allows businesses in each country to focus on producing and selling the goods that best use their resources while other businesses import goods that are scarce or unavailable domestically. That mix of local production and foreign trade allows economies to experience faster growth while better meeting the needs of its consumers.

This view was first popularized in 1817 by economist david ricardo in his book, on the principles of political economy and taxation. He argued that free trade expands the diversity and lowers the prices of goods available in a nation while better exploiting its homegrown resources, knowledge, and specialized skills.

Public opinion on free trade

Few issues divide economists and the general public as much as free trade. Research suggests that faculty economists at american universities are seven times more likely to support free-trade policies than the general public. In fact, the american economist milton friedman said: “the economics profession has been almost unanimous on the subject of the desirability of free trade.”

Free-trade policies have not been as popular with the general public. The key issues include unfair competition from countries where lower labor costs allow price-cutting and a loss of good-paying jobs to manufacturers abroad.

The call on the public to buy american may get louder or quieter with the political winds, but it never goes silent.

The view from financial markets

Not surprisingly, the financial markets see the other side of the coin. Free trade is an opportunity to open another part of the world to domestic producers.

Moreover, free trade is now an integral part of the financial system and the investing world. American investors now have access to most foreign financial markets and to a wider range of securities, currencies, and other financial products.

However, completely free trade in the financial markets is unlikely in our times. There are many supranational regulatory organizations for world financial markets, including the basel committee on banking supervision, the international organization of securities commission (IOSCO), and the committee on capital movements and invisible transactions.

Real-world examples of free trade agreements

The european union is a notable example of free trade today. The member nations form an essentially borderless single entity for the purposes of trade, and the adoption of the euro by most of those nations smooths the way further. It should be noted that this system is regulated by a bureaucracy based in brussels that must manage the many trade-related issues that come up between representatives of member nations.

U.S. Free trade agreements

The united states currently has a number of free trade agreements in place. These include multi-nation agreements such as the north american free trade agreement (NAFTA), which covers the U.S., canada, and mexico, and the central american free trade agreement (CAFTA), which includes most of the nations of central america. There are also separate trade agreements with nations from australia to peru.

Collectively, these agreements mean that about half of all goods entering the U.S. Come in free of tariffs, according to government figures. The average import tariff on industrial goods is 2%.

All these agreements collectively still do not add up to free trade in its most laissez-faire form. Amerian special interest groups have successfully lobbied to impose trade restrictions on hundreds of imports including steel, sugar, automobiles, milk, tuna, beef, and denim.

Freetrade review

No frills trading app for millennials

Our verdict

Commission free trading app for novices. Comes with its own limitations

No minimum deposit

No inactivity, account or withdrawal fees

Free stocks and etfs trading for basic orders

Against

Buying overseas shares incurs 0.45% fee

Cannot trade directly in mutual funds, bonds, options, or cryptocurrencies

Ed: since this review of freetrade has been published, a number of changes have been made to the service.

- free instant execution for trades during market opening hours (not execution at 3pm each day)
- over 1500 stocks, etfs, investment trusts to trade
- under "sound regulation" it's worth flagging that we are (and have been for some time) a member of the FSCS scheme that protects customer deposits up to £85,000.

Founded back in 2016, freetrade is one of the popular UK based fintech startups. This fintech startup offers commission-free stock trading and is regulated by the united kingdom's financial conduct authority (FCA). It is considered as one of the safest platforms for trading.

Freetrade provides commission-free trading for over 600 stocks and etfs. The free option is conditional and is available till the time you’re OK for your trades to be executed by the end of the day.

Even though freetrade is a young brand, it is increasingly getting popular among traders. As such, you could call freetrade a direct competitor to robinhood.

The freetrade app, as well as the website, is colorfully designed keeping in mind the target users - young millennial.

What does freetrade offer?

Freetrade is ideal for UK based traders and is a mobile-based tradings service. It has apps for both the platform android and ios which are designed to be fast, responsive and intuitive. As mentioned earlier it has over 600 assets available for trade.

The freetrade app allows you to trade in popular stocks and etfs from UK and US exchanges. However, it does not let you invest directly in mutual funds, bonds, options, or cryptocurrencies, other than ETF funds.

Cryptocurrencies especially are very popular among the young users, the target user base of freetrade, so not being able to invest in these assets may put off some users. However, you can always request for your favorite assets to be added to the platform.

Opening an account

Setting up a freetrade account is super straight forward. Once the app is installed, it asks you for standard identification for anti-laundering such as:

Accounts

Freetrade offers an account with zero subscription fees and offers commission-free trades of stocks and etfs.

Once the account is up, it needs to be funded. Freetrade accepts most modern payment option which includes back transfer, google pay and apple pay. The funds may reflect into your account within a few minutes, however, in the worst-case scenario, it may take a few hours too.

Freetrade runs a referral scheme as well. After the first purchase, traders can refer their friends. Once these friends have signed up using the referral link and have made their first purchase, you are entitled to get a free share of up to £200. These free shares are credited on wednesdays.

Regular withdrawals on freetrade are free as well, however, same-day withdrawal may be chargeable at £5 each. It also charges a 0.45% FX fee for buying shares in other countries.

Features

Freetrade offers a number of features:

No minimum deposit requirement: even if you have £1 in your account, you can invest it right away freetrade doesn’t have a minimum amount transaction

Fractional share trading: you can purchase fractional shares of US and UK stocks along with etfs using freetrade. This option allows you to purchase a share partially, which is otherwise very costly.

Zero commission trade with stocks and etfs: you do not need to pay any commission to transact using freetrade.

Sound regulation: freetrade is a member of the london stock exchange (LSE) and is regulated by one of the top regulatory authorities, the FCA in the UK. This also means there's no dealing with third-party brokers for LSE listed stocks that would otherwise add fees to such a service.

Support

Customer support is available via chat in the app but is not available 24/7. There is no email support or a helpline number in case you want to speak live to someone.

Final verdict

While freetrade does not have a lot of assets to trade on as compared to a full-service platform, it is still very popular among users. Millennial-friendly policies like mobile-only strategy, no minimum deposit, and commission-free service are its highlights.

Advanced traders may still not be attracted towards the service because of the lack of some important assets. Its services are mostly limited to the london stock exchange.

So, let's see, what we have: see our full pricing, and how we compare to others. Get started investing on an award-winning app, for free. At free trade account