Freetrade Review

Business Profile

Freetrade specialises in commission-free investing, offering access to UK, U.S. and European shares together with a broad range of UCITS ETFs, investment trusts and fractional shares. The platform primarily targets long-term retail investors through a simple mobile-first experience. Revenue is generated from paid subscription plans, foreign exchange fees, securities lending, interest earned on client cash and other platform-related services. Since its acquisition by IG Group plc in 2025, Freetrade benefits from the financial resources, technology and operational expertise of one of the UK's largest listed financial services companies, while continuing to operate as a standalone investment platform. Following its acquisition by IG Group in 2025, Freetrade also exited the Swedish market and ceased its broader European expansion, choosing instead to focus on the UK. The company stopped accepting deposits and new investments for Swedish customers and is winding down its Swedish operations in an orderly manner. Existing customers were instructed to sell or transfer their holdings as part of the closure process.

Ownership and Transparency

Freetrade was founded in 2016 by Adam Dodds and Davide Fioranelli, initially financing its rapid growth through a combination of venture capital and several highly successful retail crowdfunding campaigns. In April 2025, the company was acquired by IG Group plc, a FTSE-listed financial services company, marking the end of its venture capital-backed ownership structure.  Following the acquisition, Freetrade entered a new era of institutional leadership. In mid-2026, co-founder Viktor Nebehaj, who had steered the platform through its sale to IG Group, stepped down as Chief Executive Officer. He was succeeded by Jenny Zhao, a veteran of scaling high-growth digital disruptors. Under this new leadership, and backed by IG Group, Freetrade continues to operate as a standalone platform but now benefits from significantly greater financial resources, profitability, and regulatory oversight than it possessed as an independent start-up. 

Freetrade operated at a loss for several years as an independent fintech and relied heavily on venture capital funding to finance its growth. However, this changed materially following its acquisition by IG Group plc in 2025. As part of one of the UK's largest listed financial services companies, Freetrade now benefits from significantly greater financial resources, regulatory oversight and operational support than it did as a standalone business. Nevertheless, Freetrade remains a relatively young investment platform compared with more established UK brokers, meaning investors should continue to pay close attention.

In the UK, the Financial Services Compensation Scheme (FSCS) protects eligible investments up to £85,000 per person, per authorised institution in the event of firm failure. Importantly, this limit applies across all investment accounts held with the same authorised entity. For example, a customer with £85,000 in an ISA and £85,000 in a SIPP with Freetrade would have a combined FSCS investment protection limit of £85,000. Cash held in investment accounts is also protected under the FSCS deposit protection scheme up to £120,000 per person, per authorised banking institution, subject to the scheme's eligibility rules.

• Client cash is held in segregated client money accounts with approved banking institutions in accordance with the FCA's Client Assets Sourcebook (CASS) rules. While Freetrade does not publicly disclose the identity of its banking partners, client money is kept separate from the firm's own funds and cannot be used to meet Freetrade's liabilities. 
• UK-listed shares and eligible ETFs are held by Freetrade Nominees Limited in CREST, the UK's central securities depository. U.S.-listed securities are held through an SEC-registered third-party custodian in designated customer accounts and are ultimately settled through the Depository Trust & Clearing Corporation (DTCC). Freetrade continues to migrate U.S. securities to this third-party custody arrangement as part of its custody model.

Freetrade generally enjoys a positive reputation among retail investors and is widely recognised for helping to popularise commission-free investing in the UK. Historically, Freetrade attracted regulatory scrutiny over its use of paid influencer marketing, with the Financial Conduct Authority (FCA) requiring the firm to withdraw misleading financial promotions in 2022. Since then, Freetrade has strengthened its financial promotions approval process. We are not aware of any major regulatory actions or compliance controversies affecting the platform since its acquisition by IG Group.

Custody Fees

• Basic: Includes GIA, ISA, Junior ISA and SIPP. Investors can also earn interest on eligible uninvested cash. The Basic plan is free of charge, although a 0.99% foreign exchange fee applies to overseas trades.
• Standard: Includes everything in Basic together with lower foreign exchange fees, advanced order types, enhanced customer support and additional investing features. The plan costs £5.99 per month or £59.88 per year when billed annually.
• Plus: Includes everything in Standard together with the lowest foreign exchange fees, priority customer support and additional premium features. The plan costs £11.99 per month or £119.88 per year when billed annually.

Trading Fees

None

Freetrade does not offer margin loans, derivatives, futures, options, or CFDs. 

• Basic: 1.0% AER on up to £1,000, then 0%.
• Standard: 2.5% AER on up to £2,000, then 0%.
• Plus: 3.5% AER on up to £3,000, then 0%.