Editing Freetrade (section)

== Competition ==

A key way to determine a product's closest competitors is by looking at other offerings that are targeting the same or similar target audience (i.e. Active Investors) and aiming to provide the same core benefit (i.e. more money), and then ranking the offerings in terms of the total amount of time spent using and/or money spent purchasing the offerings relative to other similar offerings. With that said, according to Stockhub users, the closest competitor of the Freetrade offering is Trading 212. 

Freetrade and Trading 212 are similar in that they both offer commission free trading. Trading 212 is better than Freetrade in terms of the number of investments offered (13,000 vs. 6,000), FX fees (0.15% vs. 0.39%) and platform usage fee [Zero vs. £5.99 per month to access the 6,000 investments (note, to access 1,500 investments only, there is no fee)]. Currently, there doesn't seem to be an obvious material uniqueness of the Freetrade platform. A detailed comparison between Freetrade and some of its main competitors are shown in the table below. 

{| class="wikitable"
|+
!
!Freetrade Basic
!Freetrade Standard
!Freetrade Plus
!Trading 212
!Hargreaves Lansdown
!Robinhood
!Kroo Bank
|-
|Commission free trades
| style="background: orange; color: white;" |Yes
| style="background: orange; color: white;" |Yes
| style="background: orange; color: white;" |Yes
| style="background: orange; color: white;" |Yes
| style="background: red; color: white;" |No
| style="background: orange; color: white;" |Yes
| style="background: red; color: white;" |No
|-
|Platform fee
| style="background: orange; color: white;" |Free
|style="background: red; color: white;" |£5.99/month
|style="background: red; color: white;" |£11.99/month
|style="background: orange; color: white;" |Free
|
|
|
|-
|Number of investments offered
| style="background: orange; color: white;" |1,500
| style="background: orange; color: white;" |6,000<ref name=":4" />
| style="background: orange; color: white;" |6,000<ref name=":4">https://freetrade.io/stock-list#stock-list-table</ref>
| style="background: green; color: white;" |13,000<ref>https://www.trading212.com/</ref><ref>https://play.google.com/store/apps/details?id=com.avuscapital.trading212</ref>
|13,000<ref>https://www.forbes.com/uk/advisor/investing/hargreaves-lansdown-review/</ref>
|
| style="background: red; color: white;" |Zero
|-
|FX fees
| style="background: red; color: white;" |0.99%
| style="background: orange; color: white;" |0.59%
| style="background: orange; color: white;" |0.39%
| style="background: green; color: white;" |0.15%<ref name=":3">https://www.trading212.com/terms/invest</ref>
|
|
|
|-
|Custody fee
| style="background: orange; color: white;" |Free
| style="background: orange; color: white;" |Free
| style="background: orange; color: white;" |Free
| style="background: orange; color: white;" |Free<ref name=":3" />
|
|
|
|-
|Account closure fee
| style="background: orange; color: white;" |Free
| style="background: orange; color: white;" |Free
| style="background: orange; color: white;" |Free
| style="background: orange; color: white;" |Free<ref name=":3" />
|
|
|
|-
|Statements fee
| style="background: orange; color: white;" |Free
| style="background: orange; color: white;" |Free
| style="background: orange; color: white;" |Free
| style="background: orange; color: white;" |Free<ref name=":3" />
|
|
|
|-
|GBP interest rate
| style="background: red; color: white;" |0%
| style="background: orange; color: white;" |1%<ref>On a maximum £2k uninvested cash.</ref>
| style="background: orange; color: white;" |3%<ref>On a maximum £4k uninvested cash.</ref>
| style="background: orange; color: white;" |1.65%<ref name=":3" />
|
|
| style="background: green; color: white;" |3.60%<ref>https://www.kroo.com/</ref>
|-
|EUR interest rate
| style="background: red; color: white;" |0%
| style="background: red; color: white;" |0%
| style="background: red; color: white;" |0%
| style="background: green; color: white;" |1.25%<ref name=":3" />
|
|
|
|-
|USD interest rate
| style="background: red; color: white;" |0%
| style="background: red; color: white;" |0%
| style="background: red; color: white;" |0%
| style="background: green; color: white;" |1.9%<ref name=":3" />
|
|
|
|-
|General investment account (GIA)
|style="background: orange; color: white;" |Yes
|style="background: orange; color: white;" |Yes
|style="background: orange; color: white;" |Yes
|style="background: orange; color: white;" |Yes
|style="background: orange; color: white;" |Yes
|
|
|-
|Stocks and shares ISA
|style="background: red; color: white;" |No
|style="background: orange; color: white;" |Yes
|style="background: orange; color: white;" |Yes
|style="background: orange; color: white;" |Yes
|style="background: orange; color: white;" |Yes
|
|
|-
|Self-invested personal pension (SIPP)
|style="background: orange; color: white;" |Yes
|style="background: orange; color: white;" |Yes
|style="background: orange; color: white;" |Yes
|style="background: red; color: white;" |No
|style="background: orange; color: white;" |Yes
|
|
|-
|CFDs
|style="background: red; color: white;" |No
|style="background: red; color: white;" |No
|style="background: red; color: white;" |No
|style="background: green; color: white;" |Yes
|style="background: red; color: white;" |No
|
|
|-
|Google review<ref>Note: Reviews aren't verified by Google, but Google checks for and removes fake content when it's identified.</ref>
|style="background: orange; color: white;" |3.4 out of 5 (225 reviews)
|style="background: orange; color: white;" |3.4 out of 5 (225 reviews)
|style="background: orange; color: white;" |3.4 out of 5 (225 reviews)
|style="background: red; color: white;" |3.1 out of 5 (384 reviews)
|style="background: green; color: white;" |3.7 out of 5 (228 reviews)
|
|
|}