Freetrade is a United Kingdom based, FCA regulated stock broker, that opened in October 2018.
They are officially owned & operated by; Freetrade Limited, and located at: 10 Devonshire Square, London, EC2M 4YP, United Kingdom. Contact email address is: [email protected]. Official Website is at: https://FreeTrade.io/.
Freetrade Broker Reviews
Investors at Freetrade are given access to their custom made and easy to use iOS or Android mobile trading app. This company is built to be a simply solution for the new age investors who are interested in trading stocks and shares. Their Android app is well received, and currently has 4.8 star rating.
When you hear the words free, you assume that you are getting something for free. The way FreeTrade offers their clients free trades, is by only purchasing the shares at the end of the trading trading day. For simple investors who don’t care about daily gyrations of the price, this is fine.
Advanced investors will usually place an “instant trade” so that they price they are paying is known to them at the time. The cost for an instant trade is a reasonable £1. Alpha accounts is a feature which costs you £10 a month.
Four types of trading accounts are offered: RIA, ISA, Plus and SIPP accounts. During 2020, FreeTrade has expanded their operations to the following countries; Netherlands, Ireland, Germany, and France. They claim to have over 600K clients, and plan on opening for Australians in 2022.
Competitors in this space are the brokers Degiro, Flowbank, and Revolut.
Is Freetrade a Legit Broker?
Yes, Freetrade is a legal stockbroker and a member firm of the London Stock Exchange. They are authorised and regulated by the FCA in United Kingdom with license number 09797821.
Scam Broker Investigator has reviewed hundreds of online brokers, to see if they are legitimate and licensed brokerage firms. The way for you to know if your Stock broker is not a scam, is by checking their regulatory status. When you see that the broker is regulated by the FCA or ASIC, you can be sure that they are a legitimate broker.
Bitcoin and Crypto Currency investing has increased in popularity, which has brought with it many new scams to England. Make sure you verify that the broker you are investing with is licensed and regulated!
Compare Stock Brokers
You have many brokers to compare and choose from online. The reason smart investors choose to use a regulated broker instead of a scam broker, is because they are interested in trading, and not worrying about a broker processing their withdrawal.
ForTrade is a popular CFD broker in England that is also authorized and regulated by the FCA, look here.
Register a Free Demo Account, on their award winning trading platform, signup here.
Existing investors using the FreeTrade App are asked to share their thoughts in the comments below.