Trading212 vs Freetrade: Which Free Investing App Wins in 2026?

If you are weighing up Trading212 vs Freetrade, you are comparing the two most popular commission-free investing apps in the UK. Both let you buy stocks and ETFs without paying per-trade commissions, both offer a Stocks and Shares ISA, and both support fractional shares so you can own a slice of Amazon or Apple for a few pounds. But once you dig into the details — ISA pricing, interest on uninvested cash, auto-investing tools, and FX fees — the differences are significant enough to swing your decision.

This is a genuine head-to-head comparison based on current pricing and features as of July 2026. No templated filler, no recycled press releases — just the figures that matter when you are deciding where to put your money.

The 30-second summary

Trading212 offers a genuinely free ISA, fractional shares on every plan, 4.2% interest on uninvested cash, and an AutoInvest/Pies system that does the rebalancing for you. Freetrade also charges zero commission on trades, but locks fractional shares and its ISA behind a paid subscription (currently £4.99/month for the Standard plan that includes the ISA). Freetrade’s app is clean and beginner-friendly, but its feature set is thinner and the interest paid on cash is lower.

For most UK investors — especially those who want an ISA without paying a monthly fee — Trading212 is the stronger choice. Freetrade still has a place if you want a simple, no-frills General Investment Account and nothing more.

Trading212: full breakdown

Trading212 is a UK broker regulated by the Financial Conduct Authority (FCA). Client assets are held in segregated accounts and protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. The platform offers three account types: an Invest account, a CFD account (which we do not recommend for beginners), and a Stocks and Shares ISA.

Pricing and fees

The headline here is that Trading212’s ISA is completely free. There is no monthly subscription, no annual fee, and no per-trade commission. The only cost you will routinely encounter is the 0.15% currency conversion fee when you buy US or EU shares in a GBP-funded account. That is one of the lowest FX fees in the UK broker market — most competitors charge 0.45% or more.

Interest on uninvested cash

Trading212 pays 4.2% AER on uninvested GBP cash held in your account, and a competitive rate on EUR and USD balances too. The interest is accrued daily and paid monthly. This matters because it means cash sitting in your account while you decide what to buy is not dead money — it is earning a return close to what you would get from a decent savings account.

Pies and AutoInvest

This is Trading212’s standout feature. A “Pie” is a custom portfolio you build by selecting stocks, ETFs, or other Pies, each with a target weight. Once you set up a Pie, the AutoInvest feature automatically allocates new deposits across your chosen holdings to maintain the target balance. If one holding has grown and now exceeds its target weight, AutoInvest directs new money to the underweight holdings — bringing the pie back into balance without you selling anything.

This is effectively DIY robo-advising. You pick the ingredients; the algorithm handles the allocation. For investors who want to set up a monthly contribution and not think about it again, Pies and AutoInvest are genuinely useful and not matched by Freetrade’s equivalent feature.

Fractional shares

Trading212 offers fractional shares on all account types, including the free Invest account and the free ISA. You can buy as little as £1 of any supported stock or ETF. This is important for investors who want to build diversified portfolios with small regular contributions — you are not forced to buy whole shares of £300+ stocks like NVIDIA or Tesla.

Free share referral programme

Trading212 runs a referral programme that gives new users a free share (typically worth between £5 and £100, with most falls in the £5–£20 range) when they sign up via a referral link and fund their account. The exact value is determined by a random draw, and the share is a real, tradeable stock in your account. You can sign up to Trading212 with our referral link to claim yours.

Trading212 pros

• Zero commission on all stock and ETF trades
• Free Stocks and Shares ISA — no monthly or annual fee
• Fractional shares from £1 on every plan
• 4.2% AER interest on uninvested cash
• Pies and AutoInvest for hands-off portfolio management
• Low 0.15% FX fee
• Free share on sign-up via referral
• Clean, well-designed mobile and web app

Trading212 cons

• No SIPP / pension wrapper
• No direct crypto trading on the main platform
• Limited research and fundamental data compared to full-service brokers
• No joint accounts
• CFD arm is heavily promoted — beginners should stick to the Invest account

Freetrade: full breakdown

Freetrade is also FCA-regulated with FSCS protection on client assets. It launched in 2018 with a mission to make investing cheap and simple, and it has built a loyal following among UK beginners. The app is genuinely easy to use — perhaps the most intuitive investing interface of any UK platform.

Pricing and fees

Freetrade has moved to a subscription model. The current tier structure (as of July 2026) is:

The key point: Freetrade’s ISA costs £4.99/month (£59.88/year). That is not a fortune, but it is £59.88 more than Trading212 charges for the same tax wrapper. Over a decade of investing, that is nearly £600 in subscription fees — money that could be compounding in your portfolio.

On the free Basic plan, you can trade US stocks commission-free but pay a 0.99% FX fee (higher than Trading212’s 0.15%) and a £0.99 fee per UK stock trade. Fractional shares are not available on the free plan — you must upgrade to Standard at minimum.

Interest on uninvested cash

Freetrade pays interest on uninvested cash, but the rate is lower than Trading212’s 4.2%. On the free and Standard plans, the rate sits in the ~3% AER range. This is a meaningful difference if you keep a cash buffer in your account.

Fractional shares

Freetrade does support fractional shares, but only on paid plans (Standard and above). On the free Basic plan, you are limited to whole shares — which means a portfolio containing a £300 stock requires £300 to get exposure, not £1.

Freetrade pros

• Genuinely free Basic plan for US stock trading (no monthly fee)
• Clean, beginner-friendly app — arguably the easiest UK investing app to use
• Zero commission on US stocks
• ISA available (on Standard plan)
• Free share on sign-up via referral
• Strong community and brand reputation

Freetrade cons

• ISA costs £4.99/month — Trading212’s ISA is free
• Fractional shares require a paid plan
• FX fee on USD trades is 0.99% on the free plan (vs 0.15% at Trading212)
• Lower interest on uninvested cash
• UK stock trades cost £0.99 on the free plan
• Auto-invest feature is basic compared to Trading212’s Pies and AutoInvest
• No SIPP / pension wrapper
• No crypto trading

Trading212 vs Freetrade: side-by-side comparison

The cost difference over time

Let’s make this concrete. Suppose you want to invest £250/month into a Stocks and Shares ISA in US-listed ETFs. Here is what you would pay over a year:

Trading212:

• ISA fee: £0
• Commission: £0
• FX fee: 0.15% × £3,000 = £4.50
• Total annual cost: £4.50

Freetrade (Standard plan, required for ISA):

• Subscription: £4.99 × 12 = £59.88
• Commission: £0
• FX fee: 0.59% × £3,000 = £17.70
• Total annual cost: £77.58

That is a £73 difference in a single year, and the gap widens every year you hold the account. Over 10 years — assuming pricing stays broadly similar — you would pay roughly £730 more at Freetrade for the same ISA wrapper and a higher FX fee. That is money not compounding in your portfolio.

This single comparison is the strongest argument for Trading212 if you want an ISA. If you do not need an ISA and only trade US stocks occasionally on the free plan, Freetrade’s cost gap narrows — but the 0.99% FX fee is still significantly higher than Trading212’s 0.15%.

Which should you choose?

Choose Trading212 if:

• You want a free Stocks and Shares ISA — this alone is the deciding factor for most UK investors
• You want fractional shares without paying a monthly fee
• You want to earn 4.2% on uninvested cash
• You want automated investing with Pies and AutoInvest
• You trade US stocks and want the lowest FX fee (0.15%)
• You are a beginner who wants to start with small amounts (from £1)

Open a Trading212 account and claim your free share →

Choose Freetrade if:

• You want the simplest possible app and value a clean interface above all else
• You only trade US stocks occasionally and do not need an ISA
• You are happy on the free Basic plan and do not need fractional shares
• You prefer Freetrade’s community and brand

The honest verdict

For the vast majority of UK investors reading this comparison, Trading212 is the better choice. The free ISA, lower FX fees, higher interest on cash, and the Pies/AutoInvest system give it a clear edge on both cost and features. Freetrade is a good app that has been outpaced by Trading212’s pricing decisions — particularly the decision to make the ISA free.

That said, there is nothing stopping you from holding accounts with both. Some investors use Freetrade’s free plan for occasional US stock trades and Trading212 for their main ISA portfolio. There is no rule against it, and both are FCA-regulated.

Frequently asked questions

Is Trading212 safe?

Yes. Trading212 is authorised and regulated by the Financial Conduct Authority (FCA). Client funds are held in segregated accounts at top-tier banks and protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person. Trading212 does not use client money for its own operations.

Is Freetrade safe?

Yes. Freetrade is also FCA-authorised. Client assets are held in segregated accounts and custodied with approved partners. Investments are protected by the FSCS up to £85,000.

Which has a free ISA — Trading212 or Freetrade?

Trading212 offers a free Stocks and Shares ISA with no monthly or annual fee. Freetrade’s ISA requires the Standard plan at £4.99/month (£59.88/year).

Can I buy fractional shares on both?

Yes, but with a catch. Trading212 offers fractional shares on all plans including the free account. Freetrade only offers fractional shares on its paid plans (Standard and above) — the free Basic plan is limited to whole shares.

What is the FX fee difference?

Trading212 charges 0.15% on currency conversion when buying non-GBP assets. Freetrade charges 0.99% on the free plan, 0.59% on Standard, and 0.39% on Plus. Trading212 is significantly cheaper on FX across the board.

Do both offer a free share on sign-up?

Yes. Both Trading212 and Freetrade run referral programmes that give new users a free share when they sign up via a referral link and fund their account. The value varies — typically £5 to £100, with most awards in the lower end of that range.

Can I transfer an existing ISA to either platform?

Trading212 supports ISA transfers in from other providers. Freetrade also supports ISA transfers in on its paid ISA plans. Always check the current transfer process and any temporary holds on the provider’s website before initiating a transfer.

Neither platform offers a SIPP — where should I go for a pension?

Correct. Neither Trading212 nor Freetrade offers a SIPP. If you want a low-cost self-invested personal pension, consider AJ Bell Youinvest, Hargreaves Lansdown, or Vanguard’s personal pension. For a fuller comparison, see our investing guides.

Affiliate disclosure

This page contains affiliate links. If you sign up to Trading212 via the referral link on this page, we may earn a commission or receive a referral reward at no extra cost to you. This does not influence our editorial judgement — the comparison above reflects current pricing and features as we found them. We are not affiliated with or endorsed by Trading212 or Freetrade. This is an advertisement (#ad).

Last reviewed: 1 July 2026. Pricing verified against Trading212.com and Freetrade.io on this date.