Freetrade

Who they are

Freetrade is a UK-based fintech company founded in 2016. It pioneered commission-free investing in the UK , building a mobile-first platform aimed at making the stock market accessible to ordinary people. In January 2025, Freetrade was acquired by IG Group for £160 million, with the deal completing on 1 April 2025 following regulatory approval. Freetrade is now part of IG Group, a FTSE 100 listed company. The platform continues to operate under its own brand and is geared towards self-directed investors who want to manage their own portfolios.

It is worth being clear about what Freetrade is and isn't. This is an investment platform, not a savings bank. You won't find cash savings accounts or fixed-rate bonds here. What you will find is a way to invest in stocks, funds and ETFs - including through a tax-efficient Stocks & Shares ISA.

The Investment ISA

The product we feature on DepositScout from Freetrade is their Investment ISA - a Stocks & Shares ISA that lets you hold a wide range of investments inside a tax-efficient wrapper. Portfolios can be held in ISA accounts, and in 2025-26 Freetrade removed the monthly fees, making the ISA available on the free tier. The Stocks & Shares ISA is flexible, meaning you can withdraw and replace money within the tax year without losing your £20,000 annual allowance - something most rival platforms do not offer.

There is no fixed interest rate with this account, because your returns depend entirely on the investments you choose. The account has no minimum balance requirement, so you can start with whatever you're comfortable putting in. By 2025, Freetrade's platform included equities, ETFs and investment trusts, as well as hundreds of mutual funds and UK government bonds such as gilts and Treasury bills.

The cashback offer

Freetrade currently has a cashback promotion worth noting. You can receive up to £5,000 cashback when topping up or transferring at least £10,000 into your account. Terms apply, so check the current details carefully before making any decisions - the live figures on this page are always the most up to date.

What about protection?

This is an important point. Because Freetrade is an investment platform rather than a bank, your money here is not covered by FSCS deposit protection in the way a savings account would be. Instead, Freetrade is authorised and regulated by the Financial Conduct Authority (FCA), and eligible investments are covered by the Financial Services Compensation Scheme (FSCS). FSCS investor protection covers up to £85,000 per person - but this protects you if the firm fails and your investments cannot be returned, not against falls in investment value.

Your capital is at risk with any investment. The value of what you put in can go down as well as up.

Is it right for you?

Freetrade suits people who want to take control of their own investments inside a tax-efficient ISA, without paying platform fees. It is known for commission-free stock trading and aims to get more people investing by reducing costs, which makes it a reasonable option if you're new to investing and want to learn more before committing significant sums.

If you are looking for a straightforward cash savings account - easy access, fixed rate, or cash ISA - Freetrade is not the right fit. Always compare the current offers shown on this page before deciding where to put your money.