Founded in 2016 by Adam Dodds and Davide Fioranelli, Freetrade is a UK-based technology company that aims to make stock trading and ownership easier and more affordable for its users. In 2018, an IOS app was launched, followed by the Android Version in April 2019.
As an independent, privately-owned startup company, Freetrade offers commission-free stock trading and allows users to buy and sell stocks with over 600 assets and ETFs available for trade. Users are also provided with the opportunity to develop their own portfolio with funds beginning at only £1. Funds can be deposited and trading in common stocks can begin on the same day with access to popular stocks in the UK and US exchange market. Shares can also be stored in an ISA for a cost of £3 a month.
Both founders share experience in the finance industry. Adam Dodds, also CEO of the company, has many years of investing experience. His intention was to create a usable platform that allowed for faster trades than the third party companies would. Impressively, in the short amount of time that the app has been launched, Freetrade now has more than 600,000 registered users.
As an independent, privately-owned startup company, Freetrade offers commission-free stock trading and allows users to buy and sell stocks with over 600 assets and ETFs available for trade. Users are also provided with the opportunity to develop their own portfolio with funds beginning at only £1. Funds can be deposited and trading in common stocks can begin on the same day with access to popular stocks in the UK and US exchange market. Shares can also be stored in an ISA for a cost of £3 a month.
Both founders share experience in the finance industry. Adam Dodds, also CEO of the company, has many years of investing experience. His intention was to create a usable platform that allowed for faster trades than the third party companies would. Impressively, in the short amount of time that the app has been launched, Freetrade now has more than 600,000 registered users.
How does Freetrade work?
Freetrade focuses on shares but doesn’t let users invest in bonds, direct mutual funds, options or cryptocurrencies. When it comes to buying and selling there aren’t any fees and trading can begin instantly. Besides the stamp duty and fund charges for ETFs, there aren’t any other costs associated with setting up a basic trading account, although users can pay an additional cost for any premium features that they require. Cash can either be deposited via a bank transfer or a direct payment.Setting up a Freetrade account
Once you have downloaded the app, you will then need to set up an account. To do so you will need to give a few details for basic identity checks such as your name, address and a form of identification.Currently, the app does not have any subscription fees, although your account will need to be funded once it has been set up. The intuitiveness of the app means that this process is pretty straightforward. Not only does the app allow you to search for stocks and ETS and analyse how well they perform but users can also assess how well their portfolios are performing.
The app currently offers a Freetrade free share referral link. Users who sign up to the app via a valid referral link will receive a free share and so will the user who referred them.
Freetrade allows users to buy individual US and UK stocks and ETFs and Trading 212 also allows users to trade in stocks and ETFs with no fees or commission. It appears that customers appreciate the different elements of each app. While Trading 212 is commonly used because of its easy interface and low fees, Freetrade offers speed and reliability.
The interface of the Trading 212 app displays everything in a clear and easy to digest manner. As such, users can easily navigate their way through the different segments and also makes it easier to analyse the details of the stocks and how well they perform. Because Trading 212 is considered to be so easy to use, some would suggest that Freetrade doesn't have such a friendly user experience.
The availability of funds on the Freetrade app also isn’t as expansive as those offered by Trading 212, although Freetrade users can upgrade to a different plan that offers access to more stocks. Trading 212 also offers a practice account which is great for beginners as they can familiarize themselves with the concept of mobile trading. Both apps offer a referral incentive. Trading 212 offers a free £100 share to both the new user that signs up and the user who referred them.
Other alternative apps include Revolut. This app allows users to invest in commission free stocks using a monthly allowance. Although predominantly known as a banking service Revolut launched its commission free stock trading program in 2019. Offering users low trading fees it is praised for being an ideal choice for beginners to the trading sphere.
The app currently offers a Freetrade free share referral link. Users who sign up to the app via a valid referral link will receive a free share and so will the user who referred them.
How does Freetrade compare to other trading apps?
Due to the developments in modern technology, many companies are utilizing the mobile platform for their trading apps and the low fees and entry barriers appeal to many. As the market is now becoming inundated with different offerings there is increased competition between the different apps. Trading 212 is another very popular app.Freetrade allows users to buy individual US and UK stocks and ETFs and Trading 212 also allows users to trade in stocks and ETFs with no fees or commission. It appears that customers appreciate the different elements of each app. While Trading 212 is commonly used because of its easy interface and low fees, Freetrade offers speed and reliability.
The interface of the Trading 212 app displays everything in a clear and easy to digest manner. As such, users can easily navigate their way through the different segments and also makes it easier to analyse the details of the stocks and how well they perform. Because Trading 212 is considered to be so easy to use, some would suggest that Freetrade doesn't have such a friendly user experience.
The availability of funds on the Freetrade app also isn’t as expansive as those offered by Trading 212, although Freetrade users can upgrade to a different plan that offers access to more stocks. Trading 212 also offers a practice account which is great for beginners as they can familiarize themselves with the concept of mobile trading. Both apps offer a referral incentive. Trading 212 offers a free £100 share to both the new user that signs up and the user who referred them.
Other alternative apps include Revolut. This app allows users to invest in commission free stocks using a monthly allowance. Although predominantly known as a banking service Revolut launched its commission free stock trading program in 2019. Offering users low trading fees it is praised for being an ideal choice for beginners to the trading sphere.
This platform is more limited in its offerings as users can only trade in particular US stocks and cryptos, however, it is similar to Freetrade in the sense that it doesn’t offer mutual funds, bonds and options.
There are several alternative trading apps to Freetrade, each of which is recommended for specific types of investors with different levels of experience in trading. For example, when comparing Freetrade to Trading 212, there are many prominent similarities as both allow users to begin trading with low funds. Freetrade along with many other alternative apps offer commission free trading opportunities.
There are several alternative trading apps to Freetrade, each of which is recommended for specific types of investors with different levels of experience in trading. For example, when comparing Freetrade to Trading 212, there are many prominent similarities as both allow users to begin trading with low funds. Freetrade along with many other alternative apps offer commission free trading opportunities.
Ashutosh Jha
Ashutosh Jha is a professional blogger, Blog and IT Consultant. He writes about Blogging, SEO, Making Money, Internet Marketing and Web Design.
If you liked the post, You can follow him on the below social media.
Website: TricksRoad
No Comment to " Freetrade Review: How Does It Compare To Other Trading Apps "
Please make your real thoughts/comments and don't spam. Spam comments will be removed immediately.