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Articles / DEGIRO vs Freetrade: 2023 Comparison

DEGIRO vs Freetrade: 2023 Comparison

Franklin Carneiro da Silva| Updated September 11th, 2023

Are you confused about whether to choose DEGIRO or Freetrade as a broker for your investing needs?

In this side-by-side comparison, we analyse DEGIRO and Freetrade to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.

Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!

DEGIRO vs Freetrade: 2023 Comparison 1
Visit DEGIROAsset 3

Investing involves risk of loss.

Ideal for
Low-cost trading from Europe

DEGIRO is a European low-cost brokerage firm that has become very popular due to its low rates! With over 2.5 million users, the platform has become widely known for its “do-it-yourself” philosophy.

It offers a wide range of financial assets to trade, including stocks, ETFs (check the list of free ETFs), bonds, options, futures contracts, warrants, investment funds, and some leveraged products.

The mobile app and web trading platform are basic but very efficient and straightforward to use. Some downsides are the absence of any significant fundamental research and the lack of pricing alerts.

Ideal for
UK investors looking for a cheap ISA/SIPP

Freetrade is a commission-free UK stockbroker. It is an excellent choice for investors looking to build a long-term portfolio of stocks and ETFs with low fees.

They operate under a freemium (free+premium) business model. As you go up the pricing plans, users get extra features, such as ISA and SIPP, 3% interest on cash, and more.

Although Freetrade is only available for UK residents, the company plans to expand to Europe (you can follow the all-new developments here).

Pros and Cons

Pros

  • List of commission-free ETFs available
  • User-friendly web and mobile app
  • Wide range of investment options
  • Education material: Investor’s Academy and Investing with DEGIRO
  • Low overall commission structure
  • No account opening, inactivity, or withdrawal fee

Cons

  • 0.25% currency conversion fee (charged if you deposit or invest in a different currency than your base currency)
  • €/£1 flat handling fee (charged in most transactions)
  • €/£2.50 of connectivity fee (paid annually), per exchange where you’re invested
  • Does not offer Forex, CFDs, and Cryptos
  • No demo account
  • Little research
  • Low-quality customer support

Pros

  • Free stock and ETF trading
  • GIA, ISA, and SIPP
  • No inactivity, account, or withdrawal fees
  • No minimum deposit
  • Great community (forum) – where users share ideas and learn about investing
  • Nice and user-friendly app

Cons

  • Limited asset classes (only stocks, ETFs, REITs, and investment trusts)
  • Limited research and education
  • Graphs and portfolio tracking still need some development
  • No web or desktop platform yet (Beta version in Plus)
  • No phone support – however, live chat support is very fast and efficient
  • No 24/7 support
DEGIRO vs Freetrade: 2023 Comparison 2
Freetrade logo
  •  
  • General Information
  • Founded in
  • Demo Account
  • Account Minimum
  • Interest on unninvested cash (annually)
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks
  • EU stocks
  • ETFs
  • Cryptocurrencies
  • Custody Fee
  • Inactivity Fee
  • Withdrawal Fee
  • Connectivity Fee
  • Currency Conversion Fee
  • Security
  • Regulators
  • Investor Compensation Scheme(per person, per institution)
  • DEGIROAsset 3

    Investing involves risk of loss.

  • General Information
  • Founded in2008
  • Demo Account
  • Account Minimum€/£1
  • Interest on unninvested cash (annually)0%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks€/£1**+ €/£1 flat handling fee
  • EU stocks€/£3.90**+ €/£1 flat handling fee
  • ETFsETF Core List: €/£0 (+€/£1 flat handling fee)**Other ETFs: €/£2 (+€/£1 flat handling fee)
  • Cryptocurrencies-
  • Custody Fee€/£0
  • Inactivity Fee€/£0
  • Withdrawal Fee€/£0
  • Connectivity Fee€/£2.50
  • Currency Conversion Fee0.25%
  • Security
  • RegulatorsAFM, DNB
  • Investor Compensation Scheme(per person, per institution)

    Securities: up to €20,000 (from non-returned assets up to 90%)
    Cash balance: up to €100,000

  • FreetradeAsset 3
  • General Information
  • Founded in2016
  • Demo Account
  • Account Minimum£0
  • Interest on unninvested cash (annually)GBP: Up to 3.00%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks£0
  • EU stocks£0
  • ETFs£0
  • CryptocurrenciesNot Applicable
  • Custody Fee£0
  • Inactivity Fee£0
  • Withdrawal Fee£0
  • Connectivity Fee£0
  • Currency Conversion Fee0.45%
  • Security
  • RegulatorsFCA
  • Investor Compensation Scheme(per person, per institution)

    Up to £85,000.

Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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