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In this Freetrade vs Trading 212 comparison, I am putting two of the most popular investing platforms against each other.
When investing, both brokers are often mentioned among the best investment platforms.
However, how do they differ? And more importantly, which platform is better for you when comparing Freetrade vs Trading 212?
🪧 Should you sign up through my affiliate links, I may receive a commission at no cost to you.
Freetrade vs Trading 212 Comparison
Both Freetrade and Trading 212 are legit investment platforms. Of the two, Freetrade is newer and only available as an app. Trading 212 offers more options which experienced investors may appreciate.
Freetrade vs Trading 212 Comparison Overview
| Freetrade | Trading 212 | |
|---|---|---|
| User ratings | 4.0/5.0 | 4.6/5.0 |
| Notable fees | £0-£9.99 per month | 0.7% deposit fee after £2,000 0.15% trading fee |
| Account types | GIA ISA SIPP | GIA ISA CFD account Demo account |
| Platform | App only | App and website |
| Markets | Single shares and funds | Single shares, funds, CFDs |
| Minimum deposit | £1 | £1 (£10 for CFDs) |
| Investment style | DIY | DIY |
| Sign-up bonus | Get a free share when you deposit (terms apply) | Get a free share when you deposit (terms apply) |
Company Backgrounds
Freetrade is an online investment platform founded in 2016. Based in London, it reached one million users last year. Read my Freetrade review for more details.
Trading 212 is an established investment platform. It was founded in 2004 and is currently based in London. Trading 212 has 1.5 million clients and over £3 billion in assets.
They are so popular that they have previously closed registrations, and customers had to join a waiting list. You can find more details in my Trading 212 review.
Overall, Freetrade is the newer and less established investment platform. But does this mean they perform worse?
User Ratings
Trustpilot
Freetrade has an average Trustpilot score of 4.0 out of 5.0. Overall, 78% of users rated the platform as great or excellent. Meanwhile, Trading 212 has an average score of 4.6 out of 5.0 on Trustpilot. Of these, 87% are great or excellent.
When comparing Freetrade vs Trading 212, both platforms are popular on Trustpilot. Trading 212 performs slightly better in terms of user ratings.
It also has many more reviews because it has been available for a longer time.
What Is Trustpilot?
Overall, there are over 150 million reviews on Trustpilot. You can generally get a good understanding of the legitimacy and customer-friendliness of a company.
Freetrade vs Trading 212 on Reddit
On the Trading 212 subreddit, users regularly ask whether Freetrade or Trading 212 is better. The replies almost always favour Trading 212.
Users cite more investment options and the Freetrade “paywall” (the Standard and Plus plans).
This is the Trading 212 subreddit, so users may be more biased towards Trading 212.
Freetrade vs Trading 212 Fees
| Freetrade | Trading 212 | |
|---|---|---|
| Sign-up free | None | None |
| Deposit fee | None | 0.7% after deposing £2000 (debit/credit card deposits only) |
| Withdrawal fee | None | None |
| Inactivity fee | None | None |
| Commission | None | None |
| Account fee | Basic: Free Standard: £4.99 per month Plus: £9.99 per month | None |
| Fund management fee | None | Depends on fund |
| Trading fee | None | 0.15% for trades in different currencies |
| Other | 0.45% for currency conversion | 0.5% charge for currency conversion |
Generally, it is difficult to say whether Freetrade or Trading 212 will be cheaper. Both Freetrade and Trading 212 charge competitive fees.
Freetrade charges a platform fee if you upgrade your plan. On the other hand, Trading 212 will charge you for card deposits once you exceed the £2000 allowance.
Account Types
With both Freetrade and Trading 212, you can open a/an:
- General investment account (GIA)
- Individual savings account (ISA)
In addition, you can open a self-invested personal pension (SIPP) account with Freetrade. With Trading 212, you get an account to trade contracts for difference (CFD) and a practice account.
CFDs are a high-risk investment; most investors will lose money from trading them. They are not suitable for beginners.
Note that Freetrade will charge you for its ISA and SIPP as you must upgrade your plan. Opening an ISA or any other account type is free with Trading 212.
Regarding account types, if you do not want a SIPP, Trading 212 is the winner as there is no extra charge for any account.
Investment Markets
With both Freetrade and Trading 212 you can buy:
- Shares, including fractional shares
- Exchange-traded funds (ETFs)
- Trusts
Beyond that, Trading 212 also offers cryptocurrencies, CFDs, and gold. You can also access more stocks. Trading 212 has over 10,000 stocks compared to around 6,000 stocks on Freetrade.
Thus, Trading 212 has more investment options.
User Interface
Freetrade is only available as an app. The web platform is currently in the beta phase. Trading 212 has both a web platform and an app.
That said, the Freetrade app is well-designed and beginner friendly.
The Trading 212 website is more complex compared to the Freetrade app. This may be confusing for beginners but experienced investors may appreciate having more options.
Thus, which platform is better for you in terms of usability depends on your experience and what you want to get out of the platform.
Depositing and Withdrawing
Both Freetrade and Trading 212 have a low minimum deposit amount of £1. Note that the minimum trading amount is £2 on Freetrade, so deposing just £1 does not make much sense.
After depositing £2000, Trading 212 will charge a 7% depositing fee. Freetrade will never charge you for depositing.
Freetrade supports instant bank transfers, standing orders, and Apple Pay for depositing. Trading 212 offers more options, supporting debit and credit cards, PayPal, and more.
As for withdrawing, you can use your linked bank account with Freetrade. Withdrawals will take two to three business days. This is similar to Trading 212.
Overall, Freetrade is better for managing your funds. This is simply because they will never charge a depositing fee.
Customer Support
Both Freetrade and Trading 212 have competent and quick customer support. The only difference is that Trading 212 treats all customers equally.
With Freetrade, those on the Plus plan receive priority support. But generally, their customer support responds quickly even if you are on the Free plan.
Sign-up Bonuses and Friend Referral Schemes
When you sign up to Freetrade as a new user, you can get a free share worth £10-£100. The only condition is that you sign up via a referral link and deposit £50.
You can click the button below to get your free share:
With Trading 212, you can get a free share worth up to £100 when you sign up and verify your account. Click the button below to get yours:
Pros and Cons
Freetrade
| Pros | Cons |
|---|---|
| Comission free Free to use on the free plan Easy to set up Free share when signing up | Commission free Free to use on the free plan Easy to set up Free share when signing up |
Trading 212
| Pros | Cons |
|---|---|
| Commission free Lots of features for research Demo account Many assets available Free share when signing up | Waitlist for signing up for some countries Limited customisation options |
Freetrade vs Trading 212 Comparison Summary
Freetrade and Trading 212 are two solid DIY investment platforms. Overall, Trading 212 has more options but Freetrade is more beginner friendly.
The outcome of this Freetrade vs Trading 212 comparison is as follows:
- User ratings: Trading 212
- Fees: Tie
- Account types: Trading 212
- Investment markets: Trading 212
- User interface: Tie
- Depositing and withdrawing: Freetrade
- Customer support: Tie
- Sign-up bonus and friend referral scheme: Tie
Trading 212 wins in more categories. However, Freetrade is still a great alternative to Trading 212.
When comparing Freetrade vs Trading 212, you also need to consider which aspects are the most important to you.
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