Updated September 29, 2026 · BrokerCue Editorial Team
Freetrade vs Kraken
Freetrade vs Kraken: the differences
| Compare |  Freetrade |  Kraken |
|---|---|---|
| Minimum deposit | £1 | $1 |
| Stock trade fee | £0 | $0 |
| Markets | Stocks, ETFs, Bonds, Funds | Stocks, ETFs, Forex, Crypto, Futures |
| Regulators | Financial Conduct Authority (FCA) | Central Bank of Ireland, Cyprus Securities and Exchange Commission, Financial Conduct Authority, Financial Crimes Enforcement Network, Central Bank of Ireland (CBI) |
| Investor protection | FSCS up to GBP 85,000 | EU ICS up to EUR 20,000 |
| Platforms | App, Web | Kraken App, Kraken Pro, Kraken Desktop, Kraken Wallet |
| Account fee | £0 | Not confirmed |
| Currency conversion fee | 0.99% | Not confirmed |
| Deposit and withdrawal fees | Not confirmed | Free bank deposits, card 3.75% + 0.25 |
| Account types | ISA, SIPP, Jisa | Not confirmed |
| Maximum retail leverage | Not confirmed | Up to 10x |
| Interest on cash | 1% | Not confirmed |
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Key differences
- Kraken scores higher overall: 9.2 vs 8.8.
- Regulators: only Freetrade offers Financial Conduct Authority (FCA).
- Regulators: only Kraken offers Central Bank of Ireland, Cyprus Securities and Exchange Commission, Financial Conduct Authority.
- Kraken is licensed in 1 more country.
- Markets: only Freetrade offers Bonds, Funds.
- Markets: only Kraken offers Forex, Crypto, Futures.
- Platforms: only Freetrade offers App, Web.
- Platforms: only Kraken offers Kraken App, Kraken Pro, Kraken Desktop.
- Features: only Freetrade offers Fractional shares, Demo account.
- Features: only Kraken offers Crypto.
Our verdict on each
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.
Kraken
Kraken suits beginners and experienced investors who want stocks, ETFs and crypto together through app and desktop access. Stock dealing is priced at $0 with entry at $1 and funding terms shown as Free bank deposits, card 3.75% + 0.25 for cost planning across small balance accounts.
Score breakdown
| Area | Freetrade | Kraken |
|---|---|---|
| Cost | 9.0Stock trade fees of £0 and an account fee of £0 sit alongside a 0.99% currency conversion charge. | 9.3HigherStock dealing is priced at $0 with entry at $1. |
| Offer | 9.1HigherA UK platform with isa, sipp and jisa accounts, plus a demo account, fractional shares and stocks, etfs and bonds. | 9.0Coverage spans stocks, ETFs and forex accessed through Kraken App, Kraken Pro and Kraken Desktop. |
| Trust | 8.5 | 9.3HigherRegisters cite 1010381 and 31000270997766. |
How they place
| Ranking | Freetrade | Kraken |
|---|---|---|
| Stock and ETF brokers | 179 of 471 | 16 of 471 |
| Brokers for beginners | 49 of 88 | 8 of 88 |
Side by side, item by item
| Markets | Freetrade | Kraken |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | Yes |
| Futures | No | Yes |
| Crypto | No | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
Availability and regulation
| Country | Freetrade | Kraken |
|---|---|---|
| Ireland | Not confirmed | Central Bank of Ireland (CBI) MiCA CASP 9845003D98SCC2851458 IE_CBI PSD_EMI IE_CBI!C453020 |
| United Kingdom | Not confirmed | |
| United States | Not confirmed | SIPC SIPC member 71030 |
What we checked
Freetrade
- freetrade.io: 14 facts, checked September 26, 2026
- en.wikipedia.org: 3 facts, checked September 26, 2026
Kraken
- kraken.com: 9 facts, checked September 28, 2026
- support.kraken.com: 2 facts, checked September 28, 2026
Every fact side by side
| Fact | Freetrade | Kraken |
|---|---|---|
| Features | Fractional shares, Mobile app, Demo account | Crypto, Mobile app |
| Pricing model | Commission free | Commission free |
| Audience | Beginners | Beginners, ExperiencedCovers more |
| Legal entity | Freetrade Limited | Not confirmed |
| Headquarters | United Kingdom | Not confirmed |
| Founded | 2016 | Not confirmed |
| Support channels | Email, Chat, Help centre | Not confirmed |
Where each stands against the rest
| Fact | Freetrade | Kraken | Median |
|---|---|---|---|
| Account fee | £0at the median | Not confirmed | £0 |
| Currency conversion fee | 0.99%highest quarter | Not confirmed | 0.45% |
| Interest on cash | 1%lowest quarter | Not confirmed | 3% |
Median across 43 listed brokers.
Pros and cons
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.
Kraken
Pros
- Stock trades priced at $0 within a model shown as commission free.
- Entry at $1, below $50 at eToro for smaller starting balances.
- Coverage spans stocks, ETFs and forex, pairing stocks and ETFs with crypto and futures.
Cons
- Support runs on help centre only, without phone or live chat help found at many rivals.
- Card funding terms run Free bank deposits, card 3.75% + 0.25, which adds cost next to bank transfer options.
- Entry at $1 sits above $0 at ActivTrades and €0 at XTB for tight budgets.
Who each suits
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
Kraken
Who it suits
- You want stocks plus crypto in stocks, ETFs and forex in a single login rather than an equity only account at XTB.
- You want app led dealing through Kraken App, Kraken Pro and Kraken Desktop with modest entry at $1 rather than higher entry at eToro at $50.
Who should look elsewhere
- You want phone or chat help rather than help centre only, consider XTB or ActivTrades for wider contact choice.
- You want the lowest cash entry rather than $1, consider ActivTrades at $0 or XTB at €0.
Country by country
| Country | Freetrade | Kraken |
|---|---|---|
| United Kingdom | Yes | No |
Questions about each
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.
Kraken
What does Kraken charge for stock trades+
Stock dealing is priced at $0 and Kraken describes its model as commission free. Bank funding is framed separately as Free bank deposits, card 3.75% + 0.25, so card use adds cost while bank transfer terms remain distinct. Check the fee schedule before placing orders.
What is the minimum deposit to open an account+
Account entry is set at $1. That level sits below $50 at eToro, yet above $0 at ActivTrades and €0 at XTB. It keeps starting balances modest while leaving room for funding charges.
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