Updated September 29, 2026 · BrokerCue Editorial Team
FP Markets vs Freetrade
What sets them apart
| Compare |  FP Markets |  Freetrade |
|---|---|---|
| Minimum deposit | A$100 | £1 |
| Markets | Forex, CFDs | Stocks, ETFs, Bonds, Funds |
| Regulators | ASIC, SIPC | Financial Conduct Authority (FCA) |
| Investor protection | SIPC up to USD 500,000 | FSCS up to GBP 85,000 |
| Stock trade fee | Not confirmed | £0 |
| Account fee | Not confirmed | £0 |
| Retail accounts that lose money | 72.5% | Not confirmed |
| Currency conversion fee | Not confirmed | 0.99% |
| Platforms | Not confirmed | App, Web |
| Account types | Not confirmed | ISA, SIPP, Jisa |
| Interest on cash | Not confirmed | 1% |
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Key differences
- FP Markets scores higher overall: 9.0 vs 8.8.
- Regulators: only FP Markets offers ASIC, SIPC.
- Regulators: only Freetrade offers Financial Conduct Authority (FCA).
- FP Markets is licensed in 1 more country.
- Markets: only FP Markets offers Forex, CFDs.
- Markets: only Freetrade offers Stocks, ETFs, Bonds.
Our verdict on each
FP Markets
FP Markets suits traders who want a regulated broker with a real protection scheme behind the money, not the lowest entry cost. It is regulated in Australia and the US, and the US entity carries SIPC cover of SIPC up to USD 500,000. The catch is the entry hurdle: a minimum deposit of AUD 100.
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 | FP Markets | Freetrade |
|---|---|---|
| Cost | 8.6 | 9.0HigherStock trade fees of £0 and an account fee of £0 sit alongside a 0.99% currency conversion charge. |
| Offer | 8.6 | 9.1HigherA UK platform with isa, sipp and jisa accounts, plus a demo account, fractional shares and stocks, etfs and bonds. |
| Trust | 9.5Higher | 8.5 |
Where each is licensed and available
| Country | FP Markets | Freetrade |
|---|---|---|
| Australia | Not confirmed | |
| United Kingdom | Not confirmed | |
| United States | SIPC SIPC member 71021 | Not confirmed |
Side by side, item by item
| Markets | FP Markets | Freetrade |
|---|---|---|
| Stocks | No | Yes |
| ETFs | No | Yes |
| Forex | Yes | No |
| CFDs | Yes | No |
| Bonds | No | Yes |
| Funds | No | Yes |
Sources behind this comparison
FP Markets
- brokerchooser.com: 2 facts, checked September 26, 2026
- sipc.org: 2 facts, checked September 26, 2026
- fxscouts.ng: 1 fact, checked September 26, 2026
- leadiq.com: 1 fact, 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 | FP Markets | Freetrade |
|---|---|---|
| Features | Not confirmed | Fractional shares, Mobile app, Demo account |
| Pricing model | Not confirmed | Commission free |
| Audience | Not confirmed | Beginners |
| Legal entity | RB INTERNATIONAL MARKETS (USA) LLC | Freetrade Limited |
| Headquarters | Not confirmed | United Kingdom |
| Founded | Not confirmed | 2016 |
| Support channels | Not confirmed | Email, Chat, Help centre |
Where each stands against the rest
| Fact | FP Markets | Freetrade | Median |
|---|---|---|---|
| Stock trade fee | Not confirmed | £0at the median | £0 |
| Account fee | Not confirmed | £0at the median | £0 |
| Retail accounts that lose money | 72.5%above the median | Not confirmed | 72.05% |
| Currency conversion fee | Not confirmed | 0.99%highest quarter | 0.45% |
| Interest on cash | Not confirmed | 1%lowest quarter | 3% |
Median across 47 listed brokers.
Pros and cons
FP Markets
Pros
- Regulated in Australia and the US, with the US entity covered by SIPC up to USD 500,000.
- A single, named legal entity, RB INTERNATIONAL MARKETS (USA) LLC, holds the SIPC membership, licence SIPC member 71021.
- A focused product: forex and cfds, without a wider asset mix to learn.
Cons
- The minimum deposit of AUD 100 is well above the site median of €4.64.
- A limited market list, forex and cfds, so it does not cover shares, ETFs or crypto.
- The cost score is 3.1, one of the weaker parts of the profile.
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
FP Markets
Who it suits
- Traders who weight regulator and protection scheme above a low starting amount
- Anyone happy to trade a single market pair of products, forex and cfds
- US clients who want the SIPC scheme, SIPC up to USD 500,000, behind the account
Who should look elsewhere
- Small starters, who will find AUD 100 a high way in
- Investors wanting shares, ETFs or crypto, since forex and cfds covers neither
- eToro users who want a much wider asset list, stocks, etfs and forex
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 | FP Markets | Freetrade |
|---|---|---|
| United Kingdom | No | Yes |
Questions about each
FP Markets
What is the minimum deposit at FP Markets?+
The minimum deposit is AUD 100. That is a high way in, and it sits well above the site median of €4.64. Anyone starting with a small amount should look at a broker with a lower entry figure before committing.
Is my money protected at FP Markets?+
The US-facing entity, RB INTERNATIONAL MARKETS (USA) LLC, is covered by SIPC up to USD 500,000. That protection belongs to the US entity, so clients of other entities in the group should check which scheme applies to them before depositing.
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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