Freetrade (3/5)— Cheap stocks ISA review

Freetrade is a relatively new startup that provides low cost trading for ETFs and stocks. It has disrupted the UK “do it yourself” stock trading market by providing almost free trading. I’ve been using it for a year now and wanted to share my experience. I’ve also been using trading212 lately and it’s competing heavily with the pricing model of Freetrade.

Note: Trading on your own is very risky. You may lose all your money. I’m not a financial adviser. The below is based on my personal use of the app and is true to the extent of my knowledge.

Summary ratings

Overall rating: 3/5
The saying “you get what you pay for” applies here. The platform has very basic capabilities compared to its direct competitor (Trading 212) and existing established trading platforms. It is still a start up and I’m super excited about it, but you need to be aware that the tools and capabilities of the platform are still nascent. The cost is cheap but everything else is still too rudimentary.

Ratings break down:
Ease of use: 5/5
Cost: 4/5
Stock info: 2/5 (bare bones)
Portfolio management: 2/5
Trading capabilities: 2/5

Costs

The trading costs are listed on the freetrade website.

• For ISAs you’ll pay 3£ per month and can buy and sell as many stocks as…