Updated September 29, 2026 · SumCue Editorial Team
Freetrade vs Nutmeg
Freetrade
Nutmeg
Higher score in this comparison
Where Freetrade and Nutmeg differ
| Compare | FreetradeReviewSee alternativesSee alternatives | NutmegReviewSee alternativesSee alternatives |
|---|---|---|
| Minimum deposit | £1Lower | £500 |
| Regulators | Financial Conduct Authority (FCA) | Financial Conduct Authority |
| Platforms | App, Web | Web, Mobile app |
| Account types | ISA, SIPP, JisaCovers more | ISA, SIPP |
| Account fee | £0 | Not confirmed |
| Currency conversion fee | 0.99% | Not confirmed |
| Deposit and withdrawal fees | Not confirmed | no set-up, trading or exit fees |
| Interest on cash | 1% | Not confirmed |
Same on both: Stock trade fee (£0), Markets (Stocks, ETFs, Bonds, Funds), Investor protection (FSCS up to GBP 85,000).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Nutmeg scores higher overall: 9.2 vs 8.8.
- Regulators: only Freetrade offers Financial Conduct Authority (FCA).
- Regulators: only Nutmeg offers Financial Conduct Authority.
- Founded is lower at Nutmeg: 2012 vs 2016.
- Minimum deposit is lower at Freetrade: £1 vs £500.
- Platforms: only Freetrade offers App.
- Platforms: only Nutmeg offers Mobile app.
- Account types: only Freetrade offers Jisa.
- Support channels: only Nutmeg offers Phone.
- Features: only Freetrade offers Fractional shares, Demo account.
Our verdict on each
Freetrade
Freetrade suits UK beginners and anyone opening an ISA or a pension, since dealing carries no charge and the platform is built for small, regular buys. Its overall score of 3.3 is held back by a narrow market list and support without a phone line.
Nutmeg
Nutmeg keeps the running cost of a managed portfolio low and the paperwork light, which suits UK savers who want an ISA or SIPP without choosing investments themselves. The catch sits in the entry bar: the minimum deposit is £500 and fees of 0.25% to 0.75% a year apply.
Score breakdown
| Area | Freetrade | Nutmeg |
|---|---|---|
| Cost | 9.1Both charges sit at the floor: account fee £0, stock trade fee £0, ranked 1 of 166. | 9.2HigherCosts are the management fee of 0.25% to 0.75% a year, with trading adding £0 and no set-up, trading or exit fees. |
| Offer | 9.0Accounts listed are isa, sipp and jisa, features cover fractional shares, mobile app and demo account, and the minimum deposit is £1. | 9.5Higher |
| Trust | 8.5 | 9.1Higher |
Side by side, item by item
| Markets | Freetrade | Nutmeg |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Account types | Freetrade | Nutmeg |
|---|---|---|
| ISA | Yes | Yes |
| SIPP | Yes | Yes |
| Jisa | Yes | No |
Choosing between them
Pick Freetrade if minimum deposit and account types matter most.
Pick Nutmeg if offer and trust matter most.
Availability and regulation
| Country | Freetrade | Nutmeg |
|---|---|---|
| United Kingdom | Financial Conduct Authority 552016 |
Available in 1 country for both.
How they place
| Ranking | Freetrade | Nutmeg |
|---|---|---|
| Investing | 273 of 654 | 133 of 654 |
| Stock and ETF brokers | 197 of 358 | 94 of 358 |
| Stocks and shares ISAs | 11 of 25 | 5 of 25 |
| Pensions and SIPPs | 8 of 23 | 3 of 23 |
What we checked
Freetrade
- freetrade.io: 14 facts, checked September 26, 2026
- en.wikipedia.org: 3 facts, checked September 26, 2026
Nutmeg
- nutmeg.com: 5 facts, checked September 26, 2026
- investing-reviews.co.uk: 3 facts, checked September 26, 2026
- register.fca.org.uk: 2 facts, checked September 26, 2026
- compareandinvest.co.uk: 1 fact, checked September 26, 2026
- jpm-personal-investing-marketing.cdn.prismic.io: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Freetrade | Nutmeg |
|---|---|---|
| Features | Fractional shares, Mobile app, Demo accountCovers more | Mobile app |
| Pricing model | Commission free | Commission free |
| Audience | Beginners | Not confirmed |
| Legal entity | Freetrade Limited | J.P. Morgan Personal Investing Limited |
| Headquarters | United Kingdom | United Kingdom |
| Founded | 2016 | 2012Lower |
| Support channels | Email, Chat, Help centre | Email, Chat, Phone, Help centreCovers more |
Where each stands against the rest
| Fact | Freetrade | Nutmeg | Median |
|---|---|---|---|
| Minimum deposit | £1below the median | £500highest quarter | £15 |
| Stock trade fee | £0at the median | £0at the median | £0 |
| Account fee | £0at the median | Not confirmed | £0 |
| Currency conversion fee | 0.99%highest quarter | Not confirmed | 0.4% |
| Interest on cash | 1%lowest quarter | Not confirmed | 2.875% |
Median across 77 listed providers.
Pros and cons
Freetrade
Pros
- Dealing is commission free: the stock trade fee is £0 and the account fee is £0, so keeping the account open costs nothing in fees.
- A minimum deposit of £1 lets a position build up gradually, and cash waiting to be invested earns 1%.
- The account list is isa, sipp and jisa, so a pension, a tax-sheltered investment account and a junior account sit under the same login.
Cons
- Currency conversion costs 0.99%, where the typical fee across ISA and SIPP listings is 0.75%, putting it at the pricier end of that set for anyone buying in dollars or euros.
- Support runs on email, chat and help centre only, with no phone line among them, which is awkward when a position is moving fast.
- The market list stops at stocks, etfs and bonds, so anyone wanting forex or derivatives finds fewer instruments here than at a trading-focused broker.
Nutmeg
Pros
- Trading adds £0, and set-up, trading and exit fees do not run on the account, so moving money in or out costs nothing extra.
- Regulated by the Financial Conduct Authority, with investor protection of FSCS up to GBP 85,000 behind the balance.
- Support runs on email, chat and phone, so help is available by phone and live chat as well as in writing.
Cons
- A £500 minimum deposit and a minimum investment of £100 to £500 put Nutmeg above Axos Invest, which lists $100.
- A quarter of robo-advisors charge 0% in management fees, so fees of 0.25% to 0.75% a year are not the lowest rate around.
- Account choice is limited to isa and sipp, with no general investment account in the range.
Who each suits
Freetrade
Who it suits
- Beginners taking small first steps, since the stated audience is beginners and fractional shares plus a demo account sit in fractional shares, mobile app and demo account.
- ISA and pension savers who want isa, sipp and jisa under a single login with a minimum deposit of £1.
- Cost-focused investors, for whom an account fee of £0 and a stock trade fee of £0 keep holding inexpensive.
Who should look elsewhere
- Anyone who wants everyday banking rather than isa, sipp and jisa: bunq is a bank account with a minimum deposit of €10, so it fits savers who need a current account, not a dealing platform.
- Traders who want a market range wider than stocks, etfs and bonds: CFI is the one to weigh instead, with a minimum deposit of $0.
- People after a lender rather than an investment account: Fiesta Credito MX is regulated by CONDUSEF, so it serves borrowing in Mexico rather than investing in the UK.
Nutmeg
Who it suits
- UK beginners who want an ISA or SIPP opened without choosing individual investments.
- Savers who can fund a £500 deposit and hold the account for years rather than months.
- People happy to hand asset allocation to an algorithm across the etf, esg and cash range.
Who should look elsewhere
- eToro, which lists a management fee of 0%, if the annual charge is the number that decides it.
- Axos Invest, where a starting amount of $100 suits anyone below the £500 deposit Nutmeg asks for.
- Empower Personal Dashboard for savers who want 0% management fees rather than 0.25% to 0.75% a year.
Current offers
Nutmeg
Current offer
Bonus
Earn £100 when you invest £1,000: GBP 100 cash reward
Invest at least £1,000 in one payment into a General Investment Account, Stocks and Shares ISA, Lifetime ISA, Junior ISA or Personal Pension and keep it invested for at least 6 months; new contributions only, transfers excluded; reward paid as unallocated cash within 55 days; new clients only, cannot be combined with other new-client offers
Source, checked September 26, 2026
Country by country
| Country | Freetrade | Nutmeg |
|---|---|---|
| United Kingdom | Yes | Yes |
Questions about each
Freetrade
What does it cost to hold and trade shares?+
The account fee is £0 and the stock trade fee is £0, on a commission-free model, so opening and holding an account adds no charge. The cost that does appear is currency conversion at 0.99% whenever you buy or sell something priced in another currency. Budget for that if your holdings are not all in sterling.
How much do I need to start investing?+
The minimum deposit is £1, which keeps the entry point low. Cash waiting to be invested earns 1%, so the balance is not idle while you decide what to hold. A small starting amount suits regular contributions rather than a single lump sum, and the account fee adds nothing to the running cost.
Nutmeg
What does Nutmeg cost to run?+
The yearly cost is a management fee of 0.25% to 0.75% a year, taken from the account. Trading adds £0, and set-up, trading and exit fees do not run on the account, so moving money in or out costs nothing extra. That annual charge is the number to compare across robo-advisors.
How much do I need to open an account?+
The minimum deposit is £500, and once the account is open the minimum investment is £100 to £500. The deposit is the amount the account has to start with, while the investment range covers the size of a single contribution or holding. Contributions above the minimum can be added as the balance grows.
Other options to compare
Other matchups
Freetrade
Nutmeg