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Freetrade is a regulated online trading broker that was launched in 2016 and based in the United Kingdom. They offer an intuitive mobile trading app with commission-free trading of over 600 UK and US stocks and ETFs. The Freetrade app is modern, sleek, and user friendly, which makes it suitable for traders of all experience levels who want to build their own portfolio. The broker also provides individual savings accounts (ISA) for a fixed monthly fee.
Freetrade Platforms & Tools
The broker provides clients with the Freetrade mobile app. The Freetrade app is very user friendly, enabling quick and easy online trading from anywhere in the world, provided there is an internet connection.
It is a modern app with a sleek and user-friendly interface. The intuitive app enables clients to search for and filter stocks and ETFs, place, manage, and close trade positions. However, it only has a basic charting tool with limited technical analysis capabilities.
Freetrade Research & Education
Freetrade has an online community where you can learn, discuss, and share ideas with other investors. This is through an online forum that includes various topics and is open to both beginners and experienced traders. You can even suggest the things you will like to see included in the Freetrade app.
Freetrade Trading Accounts
Freetrade offers a free basic trading account with commission-free instant orders. There is no minimum deposit required to open an account. They also have an individual savings account (ISA). Please note that the stocks and shares ISA has a little monthly fee. There are no account inactivity fees, but there is a currency conversion fee at the FX spot rate of +/– 0.45%.
Freetrade Account Funding
Freetrade offers bank transfer as the only available account funding and withdrawal method. There is a small fee charged on making an outgoing transfer on the same day.
Bank transfers may take a few business days to clear. Freetrade does not accept third party payments, so all funds deposited into your trading account must be under the same name as your Freetrade account.
Freetrade Customer Service
Freetrade offers a prompt and polite customer support team that is on hand to answer any general, technical, or account-related queries. You can reach them via the app by tapping on your account tab on the top-right of the portfolio screen; then, scroll down to tap on ‘chat with us’. The team is available to chat between 8 am to 9 pm on weekdays and 10 am to 5 pm on weekends.
Freetrade is a trading name of Freetrade Limited, which is a member firm of the London stock exchange and is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. The FCA regulates the Financial Services Industry in the UK.
Freetrade Review Summary
Freetrade is a regulated online trading broker, with an intuitive mobile app for trading stocks and ETFs free of charge. They are regulated by the Financial Conduct Authority (FCA) and have an online trading community.
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