Freetrade is an online stock trading platform launched in the UK in 2018 that offers commission-free investing. This Freetrade review covers key details about the company, the trading platform itself, available assets, fees, account funding and withdrawals, and more.
What is Freetrade?
Freetrade is an online brokerage that allows users to invest in stocks, ETFs, and some cryptocurrencies without paying any commissions or subscription fees. The platform aims to make investing accessible for everyone by removing barriers like high account minimums and complex interfaces that exist at traditional brokerages.
Key Details About Freetrade
| Category | Detail |
|---|---|
| Launch Year | 2018 |
| Headquarters | London, UK |
| Regulated By | FCA (Financial Conduct Authority) |
| Assets Offered | Stocks, ETFs, Some Cryptocurrencies |
| Account Minimum | £0 |
| Trading Fees | £0 commission trading |
| Non-trading Fees | Some currency conversion and withdrawal fees |
| Mobile Apps | iOS, and Android apps available |
Freetrade Trading Platform Review
The Freetrade trading app and web platform provide an intuitive and easy-to-use interface for buying and selling investments. The simple design makes it easy for beginners to get started while still including key features more experienced traders expect.
How to Signing Up on freetrade.io
Registering for a Freetrade account only takes a few minutes. You provide some personal details like name, email address, and phone number to open either a general investment account or SIPP (Self Invested Personal Pension) account. The signup process is all online with electronic identity checks.
Funding Your Account
Freetrade offers multiple convenient funding options to start buying investments:
- Bank transfer (free but slower option)
- Debit card deposit
- Apple Pay/Google Pay
Most options are quick with funds available in 1-3 days. Debit card deposits incur a small 1% fee.
Placing Trades
The Freetrade mobile app provides an intuitive interface to view markets, search stocks, and place buy or sell orders for shares or funds. The watchlist feature lets you easily track securities of interest.
Desktop web trading is also available in the browser, however mobile tends to provide the best experience.
Trades can be placed as market orders to buy/sell immediately or limit orders allowing you to target a desired entry or exit price. Overall, It makes executing stocks, ETFs, and crypto trades simple with just a few taps.
Freetrade Stocks and Shares
Freetrade offers commission-free buying and selling of over 6,000 US and UK stocks. This spans most major exchanges like the NYSE, Nasdaq, and LSE. You’ll find household names like Apple, Microsoft, and Tesla as well as UK staples like BP and Vodafone.
You can invest any amount, even just £1, as there are no share dealing fees or minimum charges. This lets you build a diversified portfolio with tiny position sizes if desired.
How to Buy Shares on Freetrade UK
Here are the basic steps to start buying your first shares on web or mobile app:
- Download the Freetrade mobile app for the official website and sign up for an account OR by log in at https://web.freetrade.io/login
- Verify your identity and add a bank account
- Transfer funds from your linked bank into Freetrade
- Use the search bar to find a stock ticker (e.g. “Tesla”)
- Select the buy option and enter the cash amount to invest
- Review order details then swipe to place the market order
In just a few taps your first stock purchase is complete! You can then monitor your portfolio value and dividends in the app.
Freetrade Trading Platform Login
You access your account by logging into the mobile app downloaded from either the App Store (iOS) or Google Play Store (Android).
Desktop web access is also available by navigating to freetrade.io/login and entering your email and password.
Biometric login (fingerprint/face ID) helps streamline accessing your account on mobile by avoiding reentering credentials each time.
Freetrade Trading Platform Fees
One of Freetrade’s biggest differentiators in the UK is offering genuinely commission-free stock trading. There are no fees to buy or sell stocks, ETFs, or cryptocurrencies. This provides significant cost savings compared to rivals.
However, there are still some other fees to be aware of:
- Currency conversion – 0.45% fee when converting between currencies
- Withdrawal fee – £1 for bank withdrawals; £2 for crypto withdrawals
- Inactive account – £3 per month if no trades placed for 2 years
An optional Freetrade Plus membership also exists for £9.99/month offering perks like higher instant funding limits. But overall fees are low for most buy-and-hold investors.
How to Withdraw Money from Freetrade?
Withdrawing your investment funds from Freetrade to your bank is straightforward:
- Tap the profile icon in the mobile app
- Select “Move Money” then “To Your Bank”
- Enter the withdrawal amount in GBP
- Confirm your associated bank details
- Review and submit the withdrawal request
Withdrawals over £1,000 may require additional ID verification before being processed. And remember a £1 fee applies per withdrawal.
How to Add Money to Freetrade?
You have a few options to add more investment funds to your account:
– Bank transfer – Freeway to deposit any amount
– Debit card – Deposit between £1-£4,000 with a 1% fee – App Store/Google Pay – Instantly add between £1-£500
Adding money takes just 1-3 business days before being available to invest from your account balance.
How to Buy and Sell Stocks on Freetrade?
Freetrade makes trading stocks intuitive with just a few taps:
To buy shares:
- Search stock name/symbol
- Select desired company
- Enter investment amount
- Review order then swipe up to buy
To sell shares:
- Tap portfolio
- Select stock holding
- Tap sell and enter # of shares or value to sell
- Review details then confirm the order
The simple mobile interface allows buying and selling investments in seconds!
How to Open a Freetrade Account?
Opening a stock trading account with Freetrade takes less than 5 minutes:
- Download the app and tap “Open Account” or Visit official website (www.freetrade.io)
- Enter your email and create a password
- Provide personal details like name and address
- Confirm ID with a photo scan or a link bank
- Indicate account type (General or SIPP)
And that’s it! Your account will automatically activate within 1 business day.
Then you can start funding, trading stocks, and tracking your portfolio. Reach out to support@freetrade.io with any other questions.
Freetrade Customer Service:
Freetrade offers responsive UK-based customer support via the following channels:
- In-app chat
- Twitter (@freetrade)
Support articles and FAQs are also available in the Help Center.
Overall Freetrade provides an excellent customer experience for new investors getting started in the stock market. The intuitive app and zero-commission trading structure make building and managing a share portfolio easy and affordable.