Invest · Broker review

Freetradereview: FX fees, features & costs

UK's zero-commission broker with ISA — decent FX for smaller investors

Reviewed by Aayush Jain·Updated Aug 2026

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Overall score

6.5/10

FX rank#13 of 19

FX cost / $10k$59

Conversion spread0.59%

Trading commissionFree

Annual feeNone

Min investmentNone

$49 more per $10,000 than Interactive Brokers (FX cost only)

Not financial advice.This is a comparison of FX costs only. We don't recommend specific investments. Always consult a qualified financial adviser before investing.

Verdict

Freetrade offers commission-free trading in UK and US stocks with ISA and SIPP now included on all plans including free. FX fees are tiered: 0.99% on the free Basic plan, 0.59% on Standard (£5.99/month), and 0.39% on Plus. Higher than Trading 212 (0.15%) and well above IBKR, but accessible for UK investors starting out. Check current plan pricing as Freetrade restructures its tiers regularly.

Full review

Freetrade was launched in London in 2018 and became one of the first UK-based platforms to offer commission-free stock trading. It is regulated by the FCA and has built a loyal retail investor community through its crowdfunding rounds and community-focused product development.

The platform offers access to UK (AIM and main market), US (NYSE and NASDAQ), and EU stocks and ETFs. As of January 2026, Freetrade made a significant structural change: ISA, SIPP, mutual funds, gilts, and ready-made portfolios are all included on the free Basic plan — no subscription required. This removed a major barrier that had previously limited free-account holders to a GIA only.

The current plan structure (verify on Freetrade's website as this changes): Basic (free) — ISA, SIPP, GIA, commission-free trading, 0.99% FX fee; Standard (~£5.99/month) — lower 0.59% FX fee, higher interest on uninvested cash; Plus (higher tier) — 0.39% FX fee, additional perks. The FX fee is the primary cost variable between plans. For investors making significant US stock purchases, the difference between 0.99% and 0.39% on FX is material over time — on £10,000 invested, the difference is £60 per conversion.

Compared to alternatives: Freetrade's FX costs (0.59-0.99%) sit above Trading 212 (0.15%) and IBKR (0.08%) but below Hargreaves Lansdown and AJ Bell (both 1%). For investors prioritising tax-wrapper accessibility (ISA + SIPP free on all plans) and a clean interface over the absolute lowest FX cost, Freetrade is a viable choice. For cost-optimised investors making regular US purchases, Trading 212 or IBKR remain better value.

The interface is clean, mobile-first, and well-suited for beginning investors. The educational content is basic but sufficient for someone starting out. Customer support has been historically slow during peak market events, though the paid tiers offer priority access.

Always verify current pricing and features at freetrade.io before deciding, as Freetrade has restructured its plans multiple times since launch.

FX cost breakdown

Conversion spread

0.59%

Above mid-market rate

Fixed FX fee

None

Per currency conversion

Total FX cost / $10k

$59

Realistic all-in estimate

FX cost comparison on $10,000 investment

Interactive Brokers$10

Trading 212$15

Tiger Brokers$20

moomoo$25

Pros & cons

Pros

Zero commission on UK and US stocks
ISA and SIPP now included on all plans (including free Basic)
Clean, beginner-friendly interface
FCA regulated
Fractional US shares available

Cons

FX fees tiered: 0.99% Basic / 0.59% Standard / 0.39% Plus — higher than Trading 212 and IBKR
Basic research tools
No options or advanced order types
Monthly fee (£5.99+) needed for lower FX rates

Who can use it

Markets available

USUKEU

Supported corridors

GBP→USDGBP→EUR

Regulated by

FCA

Frequently asked questions

What FX fee does Freetrade charge?

Freetrade's FX fee depends on your plan: 0.99% on Basic (free), 0.59% on Standard (£5.99/month), and 0.39% on Plus. On a £10,000 US stock purchase, that's £99, £59, or £39 respectively — compared to £15 at Trading 212 and under £10 at IBKR.

Does Freetrade offer an ISA?

Yes. As of 2025, Freetrade includes ISA and SIPP on all plans including the free Basic plan. Previously the ISA required a paid subscription, but this restriction was removed.

Is Freetrade good for US stocks?

Freetrade offers access to NYSE and NASDAQ stocks with fractional shares from $2. The main downside is the FX fee (0.39–0.99% depending on plan), which is higher than Trading 212 (0.15%) and IBKR (0.08%). For small, infrequent US purchases it's fine; for regular investing, cheaper alternatives exist.