Freetrade Review 2026: The Free Plan Now Includes a SIPP, but Watch the FX

Score: 69/100. Rank 7 of 10. Verified 19 September 2026.

Cost 30%	Accounts 15%	Range 15%	Research 10%	App 10%	Cash 10%	Trust 10%
8.4	6	7	5	8	5	6

Verdict in one paragraph

Picture someone who opened a Freetrade account in 2019 for a free share, drifted away, and comes back in 2026 to find the Basic plan now includes a Stocks and Shares ISA, a SIPP, mutual funds and gilts, all with no subscription and no commission. That is a very different product from the one they left. Freetrade, owned by IG since April 2025, has become a credible free home for long-term investing. Two things stop it ranking higher. The Basic plan's 0.99% FX fee is the highest of our ten, so anyone buying US shares should pay for Standard (0.59%) or Plus (0.39%). And the SIPP cannot pay you a pension: to take drawdown you must transfer out.

Who it is for

Cost-conscious UK investors who want a simple app for an ISA, SIPP or general account in UK shares, ETFs and now funds, and who either avoid non-GBP assets or are happy to pay a few pounds a month for lower FX.

Freetrade Fees

Item	Basic	Standard	Plus
Monthly fee	£0	£4.99 (annual billing) or £5.99 monthly	£9.99 (annual) or £11.99 monthly
Commission	£0	£0	£0
FX on non-GBP trades	0.99%	0.59%	0.39%
Interest on uninvested cash	1% AER on up to £1,000	2.5% on up to £2,000	3.5% on up to £3,000
Accounts	ISA, SIPP, GIA	Adds Junior ISA	Adds Junior ISA

Our model on Basic: a £20,000 ISA plus £500 a month in ETFs with 30% into US shares costs £835 in true terms over 20 years, almost all of it FX. A £100,000 SIPP plus £1,000 a month costs £2,210. A 100% funds portfolio costs nothing at all.

The plan decision

If more than about £1,250 a month of your new money goes into non-GBP shares, Standard at £59.88 a year pays for itself against Basic's FX (a 0.40% saving). Above roughly £2,500 a month, Plus beats Standard. Below those levels stay on Basic.

Accounts

General Investment Account, Stocks and Shares ISA, SIPP, and Junior ISA (paid plans). No Lifetime ISA. The SIPP accepts contributions and transfers in but does not offer drawdown; at retirement you transfer to another provider to take income.

Investment range

Over 8,400 investments: UK, US and European shares, ETFs, investment trusts, mutual funds, gilts and UK Treasury bills, plus ready-made portfolios. Fractional US shares. Limit orders and stop losses are available.

Research and tools

Basic. Company pages with fundamentals, news, and community features. No screener worth the name. This is an app for executing a plan you made elsewhere.

Cash interest

Headline rates look good but apply only to the first £1,000 to £3,000 of cash depending on plan. Anyone holding meaningful cash should compare Trading 212 or IG.

The catches

• 0.99% FX on Basic is the most expensive of the ten.
  

• No drawdown from the SIPP.
  

• Cash interest caps make the rates largely cosmetic.
  

• Not for US citizens or dual US citizens, per Freetrade's own help centre.
  

• Subscription creep: the "free" platform becomes £60 to £120 a year the moment you want lower FX or a Junior ISA.
  

Trust

Freetrade Ltd is FCA-authorised with FSCS cover and has been owned by IG Group, a FTSE 250 company, since 1 April 2025, which resolved earlier questions about its funding and profitability. Trustpilot rates it around 4.2 on some 7,500 reviews.

Pros and cons

Pros: no subscription or commission on Basic; ISA, SIPP and funds included; fractional US shares; clean app; IG ownership. Cons: 0.99% FX on Basic; no SIPP drawdown; tiny cash-interest caps; no US citizens; thin research.

Frequently asked questions

Is Freetrade really free? The Basic plan has no subscription and no commission. You pay 0.99% FX on non-GBP trades, and £4.99 or £9.99 a month if you want lower FX or a Junior ISA.

Does Freetrade have a SIPP? Yes, on all plans including Basic, with no fee. It does not offer drawdown, so you will need to transfer out to take income.

Freetrade or Trading 212? Trading 212 is cheaper for non-GBP shares (0.15% FX against 0.99%) and pays more on cash, but has no OEIC funds. Freetrade has funds and gilts. Neither accepts US persons.

Sources

• Pricing: https://freetrade.io/pricing

• Compare plans: https://freetrade.io/compare-plans

• SIPP (no drawdown): https://freetrade.io/sipp

• US citizens: https://help.freetrade.io/en/articles/2750455-is-freetrade-available-to-us-citizens

• IG completes acquisition: https://www.iggroup.com/investor-relations/press-releases/2025/acquisition-of-freetrade-april-1

• Trustpilot: https://uk.trustpilot.com/review/freetrade.io

Alpesh Patel is a fund manager and the founder of Campaign for a Million. This page is information and opinion, not a personal recommendation or financial advice. Capital is at risk. Tax treatment depends on individual circumstances and may change. Campaign for a Million receives no payment from any platform listed.