Updated September 29, 2026 · SumCue Editorial Team
Freetrade vs Wealthify
Freetrade
Higher score in this comparison
Wealthify
What sets them apart
| Compare | FreetradeReviewSee alternativesSee alternatives | WealthifyReviewSee alternativesSee alternatives |
|---|---|---|
| Minimum deposit | £1Lower | £1,000 |
| Regulators | Financial Conduct Authority (FCA) | Financial Conduct Authority |
| Platforms | App, Web | Web, iOS app, Android app |
| Account types | ISA, SIPP, JisaCovers more | ISA, SIPP |
| Stock trade fee | £0 | Not confirmed |
| Account fee | £0 | Not confirmed |
| Currency conversion fee | 0.99% | Not confirmed |
| Deposit and withdrawal fees | Not confirmed | No fees for deposits, withdrawals or transfers |
| Interest on cash | 1% | Not confirmed |
Same on both: 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
- Freetrade scores higher overall: 8.8 vs 8.7.
- Regulators: only Freetrade offers Financial Conduct Authority (FCA).
- Regulators: only Wealthify offers Financial Conduct Authority.
- Minimum deposit is lower at Freetrade: £1 vs £1,000.
- Platforms: only Freetrade offers App.
- Platforms: only Wealthify offers iOS app, Android app.
- Account types: only Freetrade offers Jisa.
- Support channels: only Wealthify offers Phone.
- Features: only Freetrade offers Fractional shares, Demo account.
- Pricing model: only Freetrade offers Commission free.
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.
Wealthify
Wealthify is a straightforward robo-advisor for beginners who want a pension or ISA built for them and left alone. Cost is the weak point: a £1,000 deposit and a £1,000 to £5,000 minimum investment leave it at 68 of 82 on our data.
Score breakdown
| Area | Freetrade | Wealthify |
|---|---|---|
| Cost | 9.1HigherBoth charges sit at the floor: account fee £0, stock trade fee £0, ranked 1 of 166. | 8.5 |
| Offer | 9.0Accounts listed are isa, sipp and jisa, features cover fractional shares, mobile app and demo account, and the minimum deposit is £1. | 9.2Higher |
| Trust | 8.5 | 8.5 |
Licences and countries
| Country | Freetrade | Wealthify |
|---|---|---|
| United Kingdom | Not confirmed |
Available in 1 country for both.
What each covers
| Markets | Freetrade | Wealthify |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Account types | Freetrade | Wealthify |
|---|---|---|
| ISA | Yes | Yes |
| SIPP | Yes | Yes |
| Jisa | Yes | No |
Also worth a look
Hargreaves Lansdown has minimum deposit at £0, against £1 for Freetrade and £1,000 for Wealthify.
Hargreaves Lansdown reviewWhere these facts come from
Freetrade
- freetrade.io: 14 facts, checked September 26, 2026
- en.wikipedia.org: 3 facts, checked September 26, 2026
Wealthify
- wealthify.com: 12 facts, checked September 26, 2026
How they place
| Ranking | Freetrade | Wealthify |
|---|---|---|
| Investing | 273 of 654 | 306 of 654 |
| Stock and ETF brokers | 197 of 358 | 222 of 358 |
| Stocks and shares ISAs | 11 of 25 | 16 of 25 |
| Pensions and SIPPs | 8 of 23 | 12 of 23 |
Every fact side by side
| Fact | Freetrade | Wealthify |
|---|---|---|
| Features | Fractional shares, Mobile app, Demo accountCovers more | Mobile app |
| Pricing model | Commission free | Low fees |
| Audience | Beginners | Beginners |
| Legal entity | Freetrade Limited | Wealthify Limited |
| Headquarters | United Kingdom | United Kingdom |
| Founded | 2016 | 2016 |
| Support channels | Email, Chat, Help centre | Email, Chat, Phone, Help centreCovers more |
Where each stands against the rest
| Fact | Freetrade | Wealthify | Median |
|---|---|---|---|
| Minimum deposit | £1below the median | £1,000highest quarter | £15 |
| Stock trade fee | £0at the median | Not confirmed | £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.
Wealthify
Pros
- Deposits, withdrawals and transfers are free of charge, so moving money in and out adds nothing to the cost of holding a portfolio.
- Support runs on email, chat and phone, so help is available by phone and chat as well as in writing.
- The account range covers an ISA and a SIPP: isa and sipp, the two wrappers most UK first time savers open first.
Cons
- The 0.6% management fee is above the 0% listed for eToro and the 0% listed for Empower Personal Dashboard.
- A £1,000 deposit and a £1,000 to £5,000 minimum investment put the starting point far above the $100 at Axos Invest.
- Account choice is narrow: isa and sipp is the full list, so there is no general investment account for money held outside a tax wrapper.
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.
Wealthify
Who it suits
- Beginners who want the picking done for them: the stated audience is beginners.
- Savers putting money into an ISA or a pension: isa and sipp.
- People who want help by phone rather than by message alone: email, chat and phone.
Who should look elsewhere
- Anyone starting with a small sum, because the £1,000 to £5,000 minimum investment is far above the $100 at Axos Invest.
- Readers who weigh only ongoing cost, since 0.6% is above the 0% at eToro and the 0% at Empower Personal Dashboard.
Country by country
| Country | Freetrade | Wealthify |
|---|---|---|
| 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.
Wealthify
What does it cost to run an account with Wealthify?+
The headline cost is a management fee of 0.6% on the value of the portfolio you hold. Money movement is free: there is no charge for deposits, withdrawals or transfers, so adding or taking out money does not add a provider bill. The management fee is therefore the only line worth tracking.
How much do I need to put in to start?+
You need a deposit of £1,000 to get going, and the investment itself is £1,000 to £5,000. That range matters for anyone testing the water, since the lower end decides what the management fee works out at in cash terms. Both figures are in pounds, so the arithmetic stays in sterling.
Other options to compare
Other matchups
Freetrade
Wealthify