Freetrade UK Review | Is Freetrade Reliable? A Complete Analysis of Zero-Commission Trading, Regulatory Compliance, and User Reputation

1. Brand Background and Development History

Freetrade Ltd. , headquartered in London, UK, was founded in 2016 by Adam Dodds and Davide Fioranelli. Freetrade's core philosophy is to "democratize investing," attracting a large number of young investors by offering zero-commission stock and ETF trading .

In the UK, Freetrade is an emerging " fintech investment platform ," positioned similarly to Robinhood in the US. Its mobile-first approach, simple interface, and user-friendly user experience have quickly gained popularity among millennial and Gen Z investors.

As of 2025, Freetrade has more than 1.5 million users and assets under management have exceeded 1 billion pounds .

II. Account Types and Account Opening Process

Freetrade's account types are relatively simple, but they cover investment, savings and retirement needs:

Account opening process:

1. Download the app → Register an account

2. Upload ID & Address Proof

3. Bind bank card or transfer funds

4. After passing the review, you can trade

📌Highlights: Fully mobile-friendly, account opening in as little as 10 minutes 📌Disadvantages : Only supports UK residents, limited international expansion

3. Fee and Commission Structure

Freetrade’s biggest selling point is “no commission” , but there are also some hidden charges:

1. Stock & ETF Trading

• Commission-free (zero-fee buying and selling)

• Limited to UK & US mainstream stocks + some ETFs

2. ISA accounts

• Monthly fee: £3

• Trading remains commission-free

3. SIPP pension account

• Monthly fee: £10

• Management fees are included in the monthly fee

4. Freetrade Plus

• Monthly fee: £9.99

• Add more stock options (such as European & Asia Pacific markets)

5. Hidden costs

• Currency conversion fee: 0.45% (when trading US stocks)

• Instant deposit: £1

• Withdrawal: Free

📊 Conclusion : Freetrade's fees are very competitive for long-term investing , but for frequent traders , currency conversion fees can eat into profits.

IV. Supervision and Compliance

Freetrade Ltd. is regulated by the Financial Conduct Authority (FCA) in the UK , registration number 783189 .

Investor Protection:

• Client funds are kept in segregated accounts

• UK clients are protected by the FSCS Investor Protection Scheme with a maximum compensation of £85,000

• Cooperate with mainstream clearing banks to ensure transaction settlement security

✅Safety Rating: High 📌 Compared to Robinhood and Revolut Trading, Freetrade's FCA regulatory status is more solid.

V. Investment Products and Market Coverage

Freetrade offers a relatively limited range of investment products, primarily focusing on stocks and ETFs :

• Stocks : UK & US mainstream companies (such as Apple, Tesla, Barclays Bank, etc.)

• ETF : Covers mainstream funds such as Vanguard and iShares

• Funds/Bonds : Not available

• Derivatives (futures, options, CFDs) : Not available

• Cryptocurrency : Not available

📌 Freetrade is more suitable for long-term investors rather than active traders.

6. Trading Platform and Technical Performance

Freetrade uses an independently developed APP platform with a minimalist style .

Features:

• Mobile first : integrated trading, research, and deposits

• Simple interface : easy for beginners to use

• Limited functionality : Lacks advanced charting tools, stop-loss/take-profit functionality

• Transaction speed : orders are executed instantly, but there are no complex algorithmic orders

Compared with Saxo and IBKR, Freetrade is more like a "lightweight UK version of Robinhood".

7. Deposits and Withdrawals and Fund Management

• Deposit : Support bank transfer, debit card (instant deposit £1 fee)

• Withdrawal : Free, usually arrives in 1-2 business days

• Account currency : GBP only

• Foreign exchange : 0.45% when trading US stocks

8. Customer Service and Research Support

Customer Service

• Channel: APP online customer service & email

• Phone support: No

• Response time: 1–2 days

• Freetrade Plus users enjoy priority customer service

Research support

• Company Profile + Basic Data

• No advanced research tools

• Community Forum (Investor Exchange)

📌 Conclusion : Limited customer service and research tools make it unsuitable for investors who require in-depth research.

IX. Media and User Reviews

Trustpilot

• Trustpilot Freetrade

• Rating: ⭐ 4.0/5

• Positive reviews :

• Simple interface, suitable for beginners

• ISA account fees are reasonable

• Bad reviews :

• Limited products

• Lack of telephone customer service

Media coverage

• The Guardian: Called it "the most commonly used investment entry point for young investors in the UK"

• Financial Times: reported that its user base has exceeded one million, making it the fastest growing zero-commission platform in the UK

10. Risk Warning

• Limited investment products : lack of derivatives, bonds, and funds

• High exchange costs : Trading US stocks is less expensive than Revolut Trading

• Slow customer service response : Communication within the app only

• Simple functionality : lacks advanced charting and stop-loss orders

11. Comprehensive Rating (10-point system + brief comments)

• Regulatory Compliance: 9/10 — FCA Regulated, FSCS Guaranteed

• Fee Structure: 8/10 — Commission-free is a clear advantage, but there are currency conversion fees.

• Product Diversity: 6/10 — Limited to stocks and ETFs

• Platform Experience: 8/10 — Easy to use, suitable for beginners

• Customer Service: 7/10 — Lack of phone support

Overall score: 7.8/10
👉 Freetrade is suitable for zero-commission enthusiasts and long-term investment users , but it is not suitable for active traders who need complex trading tools.