Are you confused about whether to choose Interactive Investor vs Freetrade as a broker for your investing needs?
In this side-by-side comparison, we analyse Interactive Investor vs 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!
Interactive Investor vs Freetrade: In a Nutshell
UK investors with medium-to-large portfolios
Interactive Investor is a UK flat-fee investment service with more than 400,000 users with over £55 billion in assets under management.
It offers a vast selection of investment options, including trading, SIPP, and ISAs. The Stocks and Shares ISA starts at £4.99 per month (“Investor service plan”).
Interactive investor also provides 24h customer support on weekdays as well as a very active discussion forum.
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
Interactive Investor
Pros
- User-friendly trading platforms
- Multi-currency account
- Access over 40,000 global investments
- Exclusive seminars and events
- Good educational resources
Cons
- Limited product offering
- Basic charting (limited customization) and analytic tools
- Expensive for investors with smaller portfolios
Freetrade
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
Interactive Investor vs Freetrade: Side-by-side Comparison
- 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)
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.
