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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 |
|
|
Accounts |
General Investment Account Investment Savings Account Freetrade Plus Account SIPP Account |
|
Demo Account |
No |
|
Minimum Deposit |
$0 |
|
Deposit Method |
|
|
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 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.
Image 1: Home page on Freetrade.io website
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, |
Freetrade |
Adam |
The Financial |
9797821 |
10 Devonshire |
Freetrade io is an Award-winning investment app which is great for beginners and experienced investors alike.
 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 |
Image 2: Awards listed on the Freetrade.io website
Image 3: Awards listed on the Freetrade.io website
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:
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.
| 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 |
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.
| 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) |
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.
Equity ETFs
Commodities ETFs
Dividend ETFs
Bond ETFs
Sector ETFs
Market-cap index ETFs
International ETFs
Sustainable ETFs
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.
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.
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.
Equity REITs
Mortgage REITs
Retail REITs
Residential REITs
Healthcare REITs
Office REITs
Industrial REITs
Infrastructure REITs
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.
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:
Apple App store (iOS) – https://apps.apple.com/gb/app/freetrade-isa-invest- trade/id1354479011
Google Play (Android) – https://play.google.com/store/apps/details?id=io.freetrade.android&hl=en_IN&gl=US
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 |
US and UK stocks along with their ETFs are only |
|
No inactivity fees and Two-step login. |
Lack of research tools. |
|
Easy, fully digital and fast with a user-friendly |
You cannot use credit cards for transfers. |
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:
General Investment Account
Investment Savings Account
Freetrade Plus Account
SIPP Account
Image 5 : Features of GIA Free trad io Account listed on their website
Image 6 : Features of ISA Freetrade.io account
Image 7 : Features of free trade plus account
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:
Image 8 : Features of SIPP account in Freetrade.io
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:
Download the app on your mobile phone.
Provide your Email address for the confirmation link.
Give your personal information like name, date of birth, and national insurance
number.
Add your address details and nationality for verification.
Select the type of account.
Free trade io checks the identity automatically.
Follow the steps as instructed to finally open your Freetrade account.
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.
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.
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
Click the Log in option to enter the mobile trading platform.
Select the ‘Account’option.
Click on the ‘Withdraw’ option.
Enter the amount you wish to withdraw.
Start the withdrawal.
You will receive the money when your withdrawal is successful.
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:
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:
Select your Free trade io account type.
Enter the initial portfolio.
CEnter a US/UK share deals you expect to execute.
Select how long you plan to invest for.
The investment fees will be displayed instantly.
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.
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.
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.
Image 9 : The updates that can be expected soon in the Freetrade.io mobile app Future plans of Freetrade.io
Freetrade io has a live chat service in its mobile app and its website. Phone support service is not available but the Email support is great where you can get answers in less time. When we contact through live chat, we get fast answers. 24/7 customer service is not available.
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 |
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.
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