Updated September 29, 2026 · BrokerCue Editorial Team
Firstrade vs Freetrade
Firstrade vs Freetrade: the differences
| Compare |  Firstrade |  Freetrade |
|---|---|---|
| Minimum deposit | $0 | £1 |
| Stock trade fee | $0 | £0 |
| Account fee | $0 | £0 |
| Markets | Stocks, ETFs, Options, Funds | Stocks, ETFs, Bonds, Funds |
| Regulators | SIPC, FINRA | Financial Conduct Authority (FCA) |
| Investor protection | SIPC up to USD 500,000 | FSCS up to GBP 85,000 |
| Platforms | Web, iOS, Android, IPad | App, Web |
| Account types | IRA, Roth IRA, Joint | ISA, SIPP, Jisa |
| Inactivity fee | $0 | Not confirmed |
| Currency conversion fee | Not confirmed | 0.99% |
| Options contract fee | $0 | Not confirmed |
| Deposit and withdrawal fees | Free for bank transfers, $25 for wire transfers | Not confirmed |
| Interest on cash | Not confirmed | 1% |
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Key differences
- Firstrade scores higher overall: 9.5 vs 8.8.
- Regulators: only Firstrade offers SIPC, FINRA.
- Regulators: only Freetrade offers Financial Conduct Authority (FCA).
- Founded is lower at Firstrade: 1985 vs 2016.
- Markets: only Firstrade offers Options.
- Markets: only Freetrade offers Bonds.
- Platforms: only Firstrade offers iOS, Android, IPad.
- Platforms: only Freetrade offers App.
- Account types: only Firstrade offers IRA, Roth IRA, Joint.
- Account types: only Freetrade offers ISA, SIPP, Jisa.
Our verdict on each
Firstrade
Firstrade is a US commission-free broker for retail savers who want retirement accounts and low costs in the same place. Protection is listed as SIPC up to USD 500,000, the minimum deposit is $0, and the trade-off is a market list limited to US equities, funds and options.
Freetrade
Freetrade suits UK beginners who want to buy shares, ETFs, bonds and funds without paying a dealing charge or an annual account fee. Regulation sits with the Financial Conduct Authority and holdings are covered by the FSCS, though a currency conversion fee of 0.99% applies and support runs on email, chat and help centre only.
Score breakdown
| Area | Firstrade | Freetrade |
|---|---|---|
| Cost | 9.5HigherStock trades cost $0 and options contracts $0; transfers run Free for bank transfers, $25 for wire transfers. | 9.0Stock trade fees of £0 and an account fee of £0 sit alongside a 0.99% currency conversion charge. |
| Offer | 9.4Higher | 9.1A UK platform with isa, sipp and jisa accounts, plus a demo account, fractional shares and stocks, etfs and bonds. |
| Trust | 9.6Higher | 8.5 |
Feature by feature
| Markets | Firstrade | Freetrade |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | No |
| Bonds | No | Yes |
| Funds | Yes | Yes |
| Account types | Firstrade | Freetrade |
|---|---|---|
| ISA | No | Yes |
| SIPP | No | Yes |
| IRA | Yes | No |
| Roth IRA | Yes | No |
| Joint | Yes | No |
| Jisa | No | Yes |
Licences and countries
| Country | Firstrade | Freetrade |
|---|---|---|
| United Kingdom | Not confirmed | |
| United States | SIPC SIPC member 34642 | Not confirmed |
Additional countries for Firstrade: 1. Additional countries for Freetrade: 1.
Positions in our rankings
| Ranking | Firstrade | Freetrade |
|---|---|---|
| Stock and ETF brokers | 47 of 471 | 179 of 471 |
| Investment platforms and apps | 10 of 86 | 37 of 86 |
| Brokers for beginners | 13 of 88 | 49 of 88 |
What we checked
Firstrade
- firstrade.com: 12 facts, checked September 26, 2026
- brokerchooser.com: 3 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
Freetrade
- freetrade.io: 14 facts, checked September 26, 2026
- en.wikipedia.org: 3 facts, checked September 26, 2026
Every fact side by side
| Fact | Firstrade | Freetrade |
|---|---|---|
| Features | Demo account, Options, Mobile app, Fractional sharesCovers more | Fractional shares, Mobile app, Demo account |
| Pricing model | Commission free | Commission free |
| Audience | Beginners, Experienced, Day tradersCovers more | Beginners |
| Legal entity | FIRSTRADE SECURITIES INC | Freetrade Limited |
| Headquarters | United States | United Kingdom |
| Founded | 1985Lower | 2016 |
| Support channels | Phone, Help centre | Email, Chat, Help centre |
Where each stands against the rest
| Fact | Firstrade | Freetrade | Median |
|---|---|---|---|
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Currency conversion fee | Not confirmed | 0.99%highest quarter | 0.45% |
| Options contract fee | $0lowest quarter | Not confirmed | $0.625 |
| Interest on cash | Not confirmed | 1%lowest quarter | 3% |
Median across 43 listed brokers.
Pros and cons
Firstrade
Pros
- Regulated in the US by FINRA and SIPC, with protection stated as SIPC up to USD 500,000 and a membership record at SIPC member 34642.
- A traditional IRA, a Roth IRA and a joint account all sit in ira, roth ira and joint under the commission-free pricing in commission free, so retirement and shared accounts hold at the same cost.
- Fractional shares and a demo account sit in demo account, options and mobile app, which helps the beginners and day traders named in beginners, experienced and day traders start small.
Cons
- The market list in stocks, etfs and options covers stocks, ETFs, options and funds, a narrow range next to eToro at stocks, etfs and forex and CFI at stocks, etfs and forex.
- Live chat and email are not among the listed support channels (phone and help centre), which pair a phone line with a help centre.
- An ISA and a SIPP are not among the listed account types (ira, roth ira and joint), which cover a traditional IRA, a Roth IRA and a joint account.
Freetrade
Pros
- Dealing commission of £0 and an account fee of £0 keep the running cost of an ISA, SIPP or Junior ISA low.
- Regulated by the Financial Conduct Authority in the UK, with protection stated as FSCS up to GBP 85,000.
- Fractional shares and a demo account let you size positions in small amounts and practise before committing money.
Cons
- A currency conversion fee of 0.99% applies whenever you hold investments in more than one currency.
- Support runs on email, chat and help centre only, with no phone line listed for account or transfer questions.
- The account range is limited to isa, sipp and jisa, so there is no general investment account for shares outside a wrapper.
Who each suits
Firstrade
Who it suits
- US savers who want commission-free stock and ETF trading inside a retirement account, since the list in ira, roth ira and joint covers an IRA and a Roth IRA.
- Investors who trade in small amounts, because fractional shares in demo account, options and mobile app work alongside a $0 entry point.
- Day traders in US equities, named in beginners, experienced and day traders with a mobile app among the platforms in Web, iOS and Android.
Who should look elsewhere
- Traders who want forex, CFDs or crypto alongside equities: eToro lists stocks, etfs and forex and CFI lists stocks, etfs and forex, while Firstrade stays within stocks, etfs and options.
- UK and European savers who need a tax wrapper, since ira, roth ira and joint names no ISA or SIPP. Vantage, which sets $5 as its entry point, is worth pricing alongside.
Freetrade
Who it suits
- UK beginners opening a stocks and shares ISA or Junior ISA with small monthly amounts
- Long-term investors who want to hold a simple share and ETF portfolio without a dealing charge
- SIPP holders who prefer an app and web platform to a phone-only service
Who should look elsewhere
- People who need a general investment account outside a tax wrapper
- Investors who trade frequently in several currencies, because the 0.99% conversion fee applies each time
- Anyone who wants to speak to support by phone, as support runs on email, chat and help centre only
Country by country
| Country | Firstrade | Freetrade |
|---|---|---|
| United Kingdom | No | Yes |
| United States | Yes | No |
Questions about each
Firstrade
What does it cost to trade stocks and options?+
Stock trades cost $0 and the options contract fee is $0, so nothing is charged per trade on either side. The pricing model listed is commission free, which matches that, and the same terms apply to stocks and options contracts. A reader comparing quotes will find the same line on both markets.
Are there account or inactivity fees?+
The account fee is $0 and the inactivity fee is $0, so an account can sit open and untouched without an annual charge or a dormant penalty. That suits a saver who funds a retirement account and does not trade every month, since holding a small balance costs nothing beyond the trades themselves.
Freetrade
How much does it cost to buy shares on Freetrade?+
The dealing charge is £0 and the account fee is £0. Those two cover the trading and holding side of a stocks and shares ISA, SIPP or Junior ISA. The charge that appears is currency conversion at 0.99%, which only shows up if part of your portfolio sits in another currency.
Who regulates Freetrade and is my money protected?+
Freetrade Limited is regulated in the UK by the Financial Conduct Authority, with register reference 783189. Protection for eligible holdings is stated as FSCS up to GBP 85,000, which is the ceiling the scheme pays if the firm cannot return your money. It covers firm failure rather than market losses.
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