Freetrade io is a regulated broker platform. In this article, you will have a detailed product guide of Freetrade. Start using the Free trade io trading platform only after completely reading this broker review.This will help you to know about the Freetrade platform better and you will be able to use this platform easily.
Freetrade.io is a smartphone app-based trading platform for trading Shares, Exchange Traded Funds (ETFs) and Investment Trusts. The company was founded in 2016 by Adam Dodds and launched its iOS app in 2018 followed by an android version in 2019. It is regulated by the Financial Conduct Authority (FCA) and its head office is located in the UK.
Table1: Freetrade Overviews
| OVERVIEW | |
|---|---|
| Regulations | Financial Conduct Authority (FCA) |
| Accounts | General Investment Account Investment Savings Account Freetrade Plus Account SIPP Account |
| Demo Account | No |
| Minimum Deposit | $0 |
| Deposit Method | Bank transfer Apple pays Google pays Credit card Debit card Electronic wallets |
| Withdrawal method | Bank transfer Electronic wallets |
| Account Base Currencies | GBP |
| Customer Support | 24/5 |
| Fees | Details |
| Trading fee | YES |
| Currency Conversion fee | YES |
| Inactive fee | NO |
| Deposit fee | NO |
| Withdrawal fee | NO |
| Commission | NO |
| Market Assets | Details |
| Stocks | YES |
| ETF | YES |
| Fractional shares | YES |
| Investment Trusts | YES |
| SPACs | YES |
| Trading Platforms | Details |
| Mobile trading | YES |
| Web trading | NO |
| Desktop trading | NO |
Freetrade io Broker Review- An Intro
Freetrade io offers a commission-free trading app on the Android and iOS platforms with zero platform fees and no transaction fees for a general investment account. It operates in 194 countries present in Europe, Asia and Africa, the UK, Germany, Australia, South Africa, Thailand and China.
Regulations and Trust ability Review of Freetrade io Broker
Free trade io is regulated under the FCA (Financial Conduct Authority). FCA is the UK financial regulator which works to regulate all the trading platforms. All financial service activities of the Free trade io are authorized by the FCA and are under constant vigilance. So, Freetrade io is a more legit trading platform.
The provisions of the Financial Services Compensation Scheme (FSCS) are also applicable to the Freetrade io platform. The value of your assets which are held with the freetrade is protected by the FSCS up to a maximum amount of £85,000.
Table 2: Information about the Regulations of Freetrade io
| Headquarters | Company name | Founder | Regulated By | Registration Number | Registration Address |
|---|---|---|---|---|---|
| London, United Kingdom | Freetrade Limited | Adam Dodd’s | The Financial Conduct Authority (FCA) (FRN:783189) | 9797821 | 10 Devonshire Square, London EC2M 4YP |
Review on Awards won by Freetrade io Broker
Freetrade io is an Award-winning investment app which is great for beginners and experienced investors alike.
Table 3: Awards won by Freetrade
| Awards | Awarded By |
|---|---|
| The One to Watch | The AltFi Awards |
| Best online trading platform | British bank awards 2021 |
| Best Online Trading Platform | British Bank Awards 2020 |
| Best online Trading Platform | British Bank Awards 2019 |
| Best share dealing customer satisfaction | Finder Awards 2021 |
| People’s choice | Good Money Guide 2019 |
| Best New Investment Service | Consumer Investment awards 2019 |
| Best broker for business | Broken chooser |
Market Assets & Products Review of Freetrade io Broker
Freetrade io lets you access U.S and U.K. stocks as well as ETFs. The continuous addition of new stocks and ETFs to the platform to increase the number of financial instruments available for trading. It offers you to access the biggest American companies listed on the NYSE and NASDAQ which includes Apple, Amazon and Tesla. You can trade stocks and ETFs from the New York Stock Exchange (NYSE), the London Stock Exchange (LSE) and the NASDAQ. The assets available on freetrade are:
Stocks
Freetrade also provides the Freetrade io mobile app which is also commission-free. It offers more than 6000 stocks for you to choose from. A wide range of stocks is available exclusively for Freetrade Plus.
Table 4: Most traded stocks in Freetrade
| Amazon | Axis Capital | Palantir | KEPCO | Pan American Silver | Atlassian |
| Apple | China Eastern | Microsoft | Arkle Resources | Amdocs | Simigon |
| Toyota | Kenmare | Great Western | Argo group | Ambey | SMFG |
| Honda | Ovoca bio | Cemex | Open text | Jazz pharma | Foresight solar |
| Nokia | Eqtec | Harmony gold | Simigon | DHT Holdings | Petro china |
| Natura | POSCO | LivaNova | Sensata tech | Axalta coating | Sabesp |
| Coco-cola | PetroChina | Triton | Atlassian | WPP | Centamin |
| FEMSA | Athene holding | BATM | Scorpio tanks | Euro pacific | Nordic American |
| Plus500 | vale | America Movil | Polymetal |
Fractional shares
The partial shares of the company are called fractional shares. Without buying the whole share, it allows you to invest in a company. Fractional shares help investors when they want to buy a share but the price is higher than they would like to spend. This problem is solved by fractional shares in which you can buy a quarter or half of the share.
Table 5: Most traded fractional shares in Freetrade
| 10X Genomics Inc (TXG) | 3D Systems Corp (DDD) |
| Absolute Software Corporation (ABST) | 2U Inc (TWOU) |
| Acadia Healthcare (ACHC) | Anterix Inc (ATEX) |
| American Software Inc (AMSWA) | Archaea Energy Inc (LFG) |
| Apple Inc (AAPL) | Archaea Energy Inc (LFG) |
Exchange-traded funds
ETFs or exchange-traded funds are a group of securities that are traded in the stock market which helps investors to invest in many stocks at the same time. It is more or less similar to the concept of mutual funds. The easy way to spread money across various companies is possible through Exchange-traded funds. You can buy and sell the ETF over the day. It has more options over 200 exchange-traded funds (ETFs) in free trade io which is also commission free.
Types of ETFs
The ETF s that are mostly traded in Freetrade:
Investment trusts
You have more than 150 investment trusts in Free trade which is an excellent opportunity across geographical areas and market sectors. The fund is managed in line with shareholders’ interests which are overseen by a board of directors in Investment Trusts. It is allowed to borrow the investment amount, which can increase gains. Investment trusts tend to be more expensive than ETFs.
Most traded Investment trusts in Freetrade
- Scottish Mortgage Investment Trust plc
- Baillie Gifford US Growth Trust
- City of London Investment Trust plc
- Smithson Investment Trust plc
- Temple Bar Investment Trust plc
- Baillie Gifford European Growth Trust
- Foresight Solar Fund Ltd
- Allianz Technology Trust plc
- Monks Investment Trust plc
- Edinburgh Worldwide Investment Trust plc
SPAC s
The companies that were formed for the only purpose of raising money via the capital market to acquire some existing business are known as the Special Purpose Acquisition Companies (SPACs). They become a popular vehicle over the past years, for taking private companies public. You have more than 200 SPACs available to invest in Freetrade io. More new SPACs are also added each month to increase the investment options for the traders.
Most traded SPACs in Freetrade
REITS
Real Estate Companies that own and operate to produce income are known as Real Estate Investment Trusts (REITs). These companies can own apartments, retail buildings, data centres and different kinds of infrastructure that can generate income. You can choose from more than 160 real estate investment trusts (REITs) to invest in the Free trade io app, which is also commission-free.
Types of REITs
Most traded REITs in Free trade io
Trading Platforms Review of Freetrade io Broker
Freetrade io offers a commission-free trading app on the Android and iOS platforms which is open to users in the United Kingdom. Desktop platforms and web platforms are not available. The only way to trade is via their Mobile platform.
Mobile Trading platform
Free trade io has a user-friendly and well-designed mobile trading platform, with an efficient search function. You’ll be familiar with the mobile trading platform within seconds. The Free trade io trading platform is available in English as Apple and Android mobile software.
You can download the free trade io app from:
Pros and Cons of Freetrade io Mobile Trading Platform
The Following Table 6 lists the advantages and disadvantages of the Freetrade io mobile trading platform.
Table 6: Advantages and disadvantages of Free trade io platform
 Pros of Freetrade IO Trading Platform |  Cons of Freetrade IO Trading Platform |
|---|---|
| Stock and ETF trades are free with an excellent search function. | US and UK stocks along with their ETFs are only available for trading. |
| No inactivity fees and two-step login. | Lack of research tools. |
| Easy, fully digital, and fast with a user-friendly mobile trading platform. | You cannot use credit cards for transfers. |
Review on Order Placing on Freetrade io Broker
Different types of orders are available on the Freetrade io mobile trading platform. Basic order and instant orders are the major order types available for traders which makes the order execution easy.
- Basic order
- Instant order
Free trade io Order types available for UK stocks
- Limit order
- Stop loss
- Basic order
- Instant or market order
Free trade io Order types available for US stocks
- Limit order
- Basic order
- Triggered order
- Triggered stop loss
- Instant or market order
Review on Account Types of Freetrade io Broker
Freetrade io has expanded its selection of accounts. It offers 4 types of accounts that are listed below.
Different Account Types available in Free trade io mobile trading platform:
Freetrade io General Investment Account (GIA)
- Freetrade’s General Investment Account can be started within minutes by investing as little as £2.
- It is the standard account for stock and ETF trading
- The GIA of Free trade has no annual fees and you can have commission-free trades forever.
- You will start paying capital gains tax after earning £12,300 in General Investment Account and start paying dividend tax after earning £2,000 in dividends.
- If you invest for 10 years in Freetrade General Investment Account you can save about £1,251.
Free Trade Investment Savings Account (ISA)
- This account helps you to invest in Shares & Stocks of more than £20,000 every year without paying capital gains and UK dividends tax.
- An ISA transfer is the ability to keep the investments within the tax-efficient wrapper.
- It will take up to 4 weeks to transfer cash and 6 weeks for stocks and shares in the ISA account
- No commission for buying or selling stocks
- The Free trade io ISA account costs £3 per month as percentage fees.
Freetrade io Plus Account
- In the Freetrade io Plus account, you can get more returns from your invested money and 3% interest on cash up to a maximum deposit of £4000.
- You have more choices of financial instruments to select.
- Various kinds of orders are available such as limit orders and stop losses.
- You have to pay £9.99 per month for all Free trade io plus account services.
- You can stay in control of your investments by setting the maximum price you want to pay with limit orders and protect against loss with stop loss.
- You can enjoy tax efficiency.
The Freetrade Plus offers the following stocks:
- FTSE All-Share
- FTSE AIM All-Share
- S&P Small Cap 600
Freetrade SIPP Account
- A Self-Invested Personal Pension (SIPP) account is accessible to people in the UK.
- Free Trade io will help you to decide how to invest on your behalf and you can also choose from a limited range of investments.
- You can access the SIPP Account from age 55.
- For the 2021/22 tax year, the annual allowance is £40,000 for pension.
- If you’re a Freetrade io Plus member, it costs £7 per month or £9.99 per month.
- They don’t charge a percentage account fee, so your investments can grow without an increase in your account fees.
Types of SIPP accounts
SIPPs offer you control over how you invest your pension money but there are different types of SIPPs on the market. They can broadly be split into two main types:
- Complex SIPPs
- Streamlined SIPPs
How to open your account Freetrade io Account?
Freetrade io account opening is user-friendly and fast. It takes only a few minutes to open the account.
The steps of opening an account at Free trade io:
Review on Fees and Commissions of Freetrade io Broker
You can trade stocks, and ETF s free of charge. There are also no withdrawal fees, account fees and inactive fees for a basic General Investment Account (GIA). But you have to pay converting fees of 0.45% to convert funds to USD which is quite high.
Free trade io also charges some fees for other account types other than the GIA account. The plus account of Freetrade costs 9.99/month. When you trade non-UK shares, it charges the FX rate equal to the current spot rate plus 0.45%.
There is no trading commission for basic orders. The foreign exchange fee of 0.45% is charged for transactions in foreign currencies.
Review on methods to Deposit fees on Freetrade io Broker Platform
Free trade io charges no deposit fees. For deposit and withdrawal options, you can use more methods like Bank transfer, Google Pay and Apple Pay.
You need to process the verification for the bank transfer. You can fund your account by using a Debit card. Sometimes Bank transfers will take several business days. You can only deposit money from accounts that are in your name.
Withdrawal fees and methods Review of Freetrade io Broker
Freetrade io has no withdrawal fees if you choose a & ‘non-same-day’ withdrawal. Same-da withdrawals only have a £5 fee. You can only use bank transfers and electronic wallets for withdrawal. It might take 2 days for a bank transfer and you can transfer the money to the bank account which is only
in your name.
Steps for withdrawal of money in Freetrade
Review on Tools available in Freetrade io Broker
Free trade mobile app provides a variety of trading tools that are helpful for the traders. The main trading tools available in free trade are:
- Investment fees calculator
- IPO Calendar
- Investment Hub
Freetrade io Investment fees calculator
The investment fees calculator helps us to estimate the platform fees.
You can find the investment fees on the Free trade io mobile app in a few easy steps:
Freetrade IPO calendar
When a private company sells shares to public investors for the first time, those shares are called the Initial Public Offering (IPO). This will help those companies to expand their business and they pay back the investors in the form of dividends. It’s easy to keep track of the most anticipated public offerings coming up in 2021 by the use of the Free trade IPO calendar. You can choose and invest in IPO companies which are commission-free.
Various IPO companies available to invest in Freetrade Mobile App:
- Fortune Joy International Acquisition Corp
- Mana Capital Acquisition Corp.
- NeuroSense Therapeutics Ltd.
- Knightscope, Inc.
- Milan Laser Inc.
- Blue Water Acquisition Corp. II
- TMT Acquisition Corp.
Review on the Education section of Freetrade io Mobile Platform
Freetrade io has an Invest HUB section from which you can get all details about the trading. You have access to many more sections like tips on how to get started, the latest news, educational materials, newsletters and weekend reads which you can use to your advantage. There are educational videos but no webinars are available. Webinars will be added soon.
Everything you need to know about the UK, US global business & financial news, company news, sector reviews and reports are readily available in Invest HUB. Free trade io has provided more trading articles and community blogs too.
Review on Future Plans of Freetrade io Broker
Free trade io has plans to launch new markets in France, Sweden and Netherlands. It plans to enter the wider European market, beginning with Sweden, Ireland and the Netherlands. It decides to offer more stocks. It is also working on improving the withdrawal experience in its freetrade mobile app.
Table 7 : The contact numbers of Free trade io provided for different services
| Types of Service in Freetrade | Contact number | Social Media Accounts of Freetrade |
|---|---|---|
| Samaritans Shout Mind Step change Citizen’s Advice National debt line The money advice service Gam care Plan | Call 166 123 Text 85258 Call 0300 123 3393 Call 0800 138 1111 Call 0800 144 8848 Call 0808 138 7777 Call 0800 138 7777 Call 0808 802 0133 Call 0800 280 2816 | Twitter – @freetrade Instagram – @freetrade Facebook -@freetradeapp LinkedIn – freetrade |
Freetrade.io – In a Nutshell
- Freetrade.io is a mobile app-based trading platform.
- Financial instruments like Stocks, Investment Trusts Fractional shares, REITS, SPACs and ETFs are available to trade.
- The regulatory body – Financial Conduct Authority (FCA) is the one that regulates the Free trade io.
- The only way to trade in Freetrade is via its iOS and Android mobile apps.
- General Investment Account, SIPP Account, Investment Savings Account, Freetrade plus Account are the different account types available in Freetrade.
- No withdrawal fees, account fees and inactive fees.
- Some available for traders in Free trade io are the Investment fees calculator, IPO Calendar and Investment Hub.
There is a common myth among people that online trading is complicated. But it is not when you know how to trade. To execute your trading skills, you need to have a trading account which can be opened on a broker platform. Select any broker platform only after thorough research. tradingcritique.com helps you to learn important information about all global trading platforms via our Broker Review section. Learn more about trading in the Education section of tradingcritique.com, this will encourage you to get off to a good beginning in the world of online trading.
