Updated September 29, 2026 · BrokerCue Editorial Team
Freetrade vs Nutmeg
Where Freetrade and Nutmeg differ
| Compare |  Freetrade |  Nutmeg |
|---|---|---|
| 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).
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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 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.
Nutmeg
Nutmeg suits UK investors who want a managed portfolio held in an ISA or SIPP rather than a self-directed dealing account. The cost of that convenience is a single management fee of 0.25% to 0.75%, with a £0 stock trade fee and FSCS protection of FSCS up to GBP 85,000 in place.
Score breakdown
| Area | Freetrade | Nutmeg |
|---|---|---|
| Cost | 9.0Stock trade fees of £0 and an account fee of £0 sit alongside a 0.99% currency conversion charge. | 9.0Management fees of 0.25% to 0.75% run above the robo-adviser median of 0.35%, and the entry floor is high. |
| Offer | 9.1A UK platform with isa, sipp and jisa accounts, plus a demo account, fractional shares and stocks, etfs and bonds. | 9.6Higher |
| 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 |
Which one suits you
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.
Also worth a look
Spreadex has minimum deposit at £0, against £1 for Freetrade and £500 for Nutmeg.
Spreadex reviewSources behind this comparison
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
How they place
| Ranking | Freetrade | Nutmeg |
|---|---|---|
| Stock and ETF brokers | 171 of 490 | 92 of 490 |
| Investment platforms and apps | 36 of 85 | 20 of 85 |
| Stocks and shares ISA providers | 9 of 21 | 3 of 21 |
| SIPP providers | 8 of 22 | 3 of 22 |
| Junior ISA providers | 5 of 14 | 2 of 14 |
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 | £1lowest quarter | £500highest quarter | £25 |
| 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 | 3% |
Median across 34 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.
Nutmeg
Pros
- One ongoing charge to read: management fees of 0.25% to 0.75%, with no set-up, trading or exit fees on top.
- Holdings span etfs, funds and stocks, so a managed basket can still cover a wide spread of asset types.
- Regulated by the Financial Conduct Authority, with FSCS protection of FSCS up to GBP 85,000 behind the account.
Cons
- Management fees of 0.25% to 0.75% sit above the robo-adviser median of 0.35%, and the cost rises as the balance grows.
- The opening deposit is £500 and later money goes in from £100 to £500, higher than the robo-adviser median of €60.06.
- The portfolio range is etf, esg and cash only, so there is no crypto or thematic option to tilt towards.
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
Nutmeg
Who it suits
- UK investors who want a managed portfolio inside an ISA or a SIPP and accept a single ongoing charge for the service.
- People who would rather not research individual funds, since the holdings run to etf, esg and cash approaches chosen and held for you.
- Investors who want a phone line as well as written support, since email, chat and phone includes phone, chat, email and a help centre.
Who should look elsewhere
- Anyone starting with a small first payment, since the £500 deposit is well above the robo-advisor lower quartile of €0, and Axos Invest begins at $100 in US dollars.
- Shoppers who want the lowest ongoing charge, since eToro runs a 0% management fee and Vivid Standard charges 0.5% to 1.5%, against Nutmeg's 0.25% to 0.75%.
- Investors who want accounts in US dollars, because Axos Invest takes $100 in dollars while Nutmeg's £100 to £500 sits in pounds.
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
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.
Nutmeg
What does Nutmeg charge to manage my money?+
The charge is a single management fee of 0.25% to 0.75%, which sits above the robo-adviser median of 0.35% in this group. There are no set-up, trading or exit fees to add on top. Money can go in from £100 to £500, so the cost is a percentage of what you hold rather than a price per deal.
How much do I need to open an account?+
The minimum deposit is £500, and once the account is open money can go in from £100 to £500. That first payment is the step most readers notice, and it sits above the lower quartile of €0 across robo-advisers here.