The ISA and SIPP combination

Freetrade's most meaningful differentiator is providing both a commission-free Stocks & Shares ISA and a Self-Invested Personal Pension (SIPP) in the same app. Holding both in one place, with no annual wrapper fee on the ISA, and pension contributions receiving automatic basic-rate tax relief in the SIPP, is a genuinely useful combination for UK long-term investors. Most commission-free brokers offer one or the other. Freetrade offers both, and that distinction alone determines whether it belongs in someone's shortlist.

The SIPP comes through the Plus subscription tier at £9.99/month (£119.88 per year). Whether the cost is worth it depends on contribution volume: the 20% basic-rate tax relief needs to exceed the subscription cost, which it does for most adults contributing £1,000 or more per year since a £1,000 annual contribution attracts £250 in government tax relief against the £119.88 subscription. The maths works in most realistic contribution scenarios.

What the platform actually looks like

Freetrade is mobile-first, deliberately. The app is clean and uncluttered by design, the interface strips away the complexity that competitors offer and presents a simple buy/sell flow with clear fee disclosure at every step. For an investor who wants to put £200 a month into a diversified portfolio of ETFs and largely leave it alone, this is a feature rather than a limitation. Complexity is not always a virtue; Freetrade's simplicity makes it one of the most accessible starting points for new investors.

There is no desktop application. Freetrade is iOS and Android only. For investors who want to review portfolios on a laptop or manage accounts through a web browser, this is a genuine limitation, and it distinguishes Freetrade from Trading 212, which offers a web platform alongside its mobile app.

Account tiers and what they unlock

Freetrade operates a three-tier structure: Free, Standard (£4.99/month), and Plus (£9.99/month). The free tier gives access to a curated universe of stocks and ETFs with market orders only. Standard adds limit orders and the full stock universe. Plus unlocks the SIPP, a higher interest rate on uninvested cash, and priority customer support.

The stock universe covers UK, US, and European equities, several thousand instruments, alongside a broad ETF range covering major global indices, thematic exposures, and fixed-income products. The universe is narrower than DEGIRO or Interactive Brokers for less common international names or specific small-cap exposures, but sufficient for most investors building index-based diversified portfolios.

Commission structure and hidden costs

Trading is commission-free on all stock and ETF trades across all tiers, with no annual ISA platform fee and no minimum deposit; the subscription is the only meaningful recurring charge. Trading US stocks involves an implicit FX conversion spread (typically 0.45% on the free tier, lower on Plus), which Freetrade discloses as a percentage of the transaction value. That spread is the practical trading cost for international holdings; factor it in when comparing against other commission-free platforms.

IG Group acquisition: what changed and what didn't

Freetrade was acquired by IG Group on 1 April 2025. For existing Freetrade customers, the practical change is primarily one of ownership structure, the underlying Freetrade app, accounts, and regulatory structure continue to operate as before. The acquisition does not affect ISA or SIPP holdings, account continuity, or FCA authorisation. IG Group's broader infrastructure may enable future product expansions, but no material platform changes had been announced as of April 2025.

FCA-authorised with FSCS protection: IG Group subsidiary since April 2025

Freetrade is authorised and regulated by the FCA (FRN 677382). Client assets sit in a segregated nominee account, separate from Freetrade's own balance sheet, and covered by the FSCS up to £85,000 per eligible claimant. As a subsidiary of IG Group (LSE: IGG), the parent company is publicly listed and subject to independent auditing. There are no reported fund safety incidents in Freetrade's operating history.

Where it falls short

No desktop application, Freetrade is mobile only, which frustrates investors who prefer portfolio management from a laptop. Research tools are minimal: no integrated stock screener, earnings calendar, or third-party analyst reports. The stock universe, while broad, is narrower than DEGIRO or Interactive Brokers for less common international exposures. Customer support can be slow for free-tier clients, Freetrade remains UK-only, and following the IG Group acquisition no international expansion has been announced.

Bottom line

Freetrade is the best choice for UK investors who want a commission-free ISA combined with a SIPP in a simple, clean mobile interface. The Plus subscription unlocks the SIPP at a cost that the tax relief benefit typically more than covers. For investors who want desktop access or broader international coverage, Trading 212 or DEGIRO are more complete. For pure simplicity, tax-wrapper breadth, and mobile-first design, Freetrade stands alone among commission-free UK brokers.