[Jamie]

Are Freetrade really free? What’s the catch? Are they one of these firms like Robinhood that advertise no fees but then you get stung in other ways?

Debating signing up but not sure if they’re one of the good guys.

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[Christian Harris]

I have bought and sold stocks using Freetrade and they have all been commission-free, whether that’s US, UK or European stocks. I thought the platform was solid, albeit available on mobile only which I don’t like.

However, remember that when you buy overseas shares you will pay a small foreign exchange fee. This FX fee is 0.99% on the Basic plan, 0.59% on the Standard plan, and 0.39% on the Plus plan.

It’s also worth mentioning that ISA and SIPP investments are part of Freetrade’s paid plans.

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[Jamie]

Right, this is useful information thank you. Did you find it was worth signing up for the “Standard” or “Plus” plans or did you stick with the “Basic” option? It looks like you can benefit from a lower FX fee but are the “more stats and analysis” worth it do you know?

 

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[Christian Harris]

I made a few (about 10) short-term trades with the free ‘Standard’ account.

I then moved to eToro because the stock range is much better.

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[Jamie]

Hmmmmm interesting. The Freetrade app does have the US and EU securities I want to trade so I ain’t worried about stock range. For now at least.

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[James Barra]

Hi Jamie,

It could also be worth taking a look at our full Freetrade review for further information on charges and trading conditions.

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