Freetrade vs Trading 212
I thought it only fair to update this post a little. I shall keep it as below but just add this section.
Freetrade is now up to par with Trading 212 and even surpasses it in some aspects. As an example, Freetrade has already launched a Freetrade SIPP something Trading 212 has yet to do. However, they have yet to offer any form of web app unlike 212.
Freetrade Plus is available to those who wish to make use of limit orders and earn a little interest on their cash balance. Do bear in mind a monthly fee is charged for Freetrade Plus.
My long term plan is to have ETFs and maybe Growth stocks in Freetrade and Dividend stocks in Trading 212.
I do not think you can go wrong with either Freetrade or Trading 212. Having an account with both is a good idea. Have your ISA with Trading 212 as it is free, and have your general investment account with Freetrade (free) as they charge £3 per month for an ISA).
Trading 212 vs Freetrade
Right off the bat, I’m going to honest with you in this Freetrade vs Trading 212 debate. Freetrade does not currently compare to Trading 212 as an investment platform.
So, Freetrade is similar in that it offers zero-commission trading. This is where the similarities end in my opinion. Trades executed on Freetrade can sometimes not take place until 3 pm the next day. This seems to be for US stocks mainly.
Not only do they not offer instant buys on all trades they are charging customers £3 a month to open an ISA with them vs £0 with Trading 212.
Please, if you plan on investing long term then you must know the difference between a Trading 212 Invest vs ISA account.
They also only have a mobile app, you can not buy shares via a computer only on your phone. Trading 212 has both a great mobile and a nice web app.
On top of this Trading 212 has a plugin for Chrome so you can monitor your portfolio easily – the plugin appears like the mobile app. It can be accessed while browsing another site for example.
Perhaps the final nail in the coffin though? No fractional shares – although I have heard they are bringing this feature out soon so maybe we should give them a pass on that one.
UPDATE – Freetrade does have fractional shares now!
Freetrade vs Trading 212, in my opinion, is a no brainer, Trading 212 is a more mature, more full-featured investment platform.
However…Freetrade vs Trading 212
Having a backup investing platform is a wise move. Freetrade may lack some of the nicer features that Trading 212 offers currently with having to pay for Freetrade Plus. That’s not to say that further down the line they will not up to their game.
I hope they do. We need as many solid free investment platforms as we can. We can spread then spread out our portfolios over multiple platforms if we so choose.
Freetrade Free Share
Personally, I created an account just for the Free share (now I will keep for a backup as well) – in a similar vein to Trading 212, Freetrade also offers a free share just for signed up to their platform and depositing as little as £1.
Invest in stocks and ETFs commission-free. Sign up here with your email and get a free share worth up to £200 to get started.
Grab your free share while you still can. You may get lucky and get a £200 one.
Going forward I will keep Freetrade as a backup but, potentially use it when they have matured some. For now, though, do what I did and sign up just for the share.
Let me know your thoughts on the app and how you think iy compares to Trading 212.
Trading 212 Free Share
If you are not signed up to either yet. Go ahead and put £1 or as much as you like into each Freetrade and Trading 212 and claim two free shares.
Sign up with the link below to get started now.
Do you want to get a free stock share worth up to £100? You only need to deposit £1 to get the free share!
We both get a free share!
None of the above should be used as financial advice, I am not a professional. Always do your own research.