Updated September 29, 2026 · BrokerCue Editorial Team
Freetrade vs Smartbroker
Where Freetrade and Smartbroker differ
| Compare |  Freetrade |  Smartbroker |
|---|---|---|
| Minimum deposit | £1 | €0 |
| Account fee | £0 | €0 |
| Markets | Stocks, ETFs, Bonds, Funds | Stocks, ETFs, Crypto, Bonds, Funds, MetalsCovers more |
| Regulators | Financial Conduct Authority (FCA) | Federal Financial Supervisory Authority (BaFin) |
| Investor protection | FSCS up to GBP 85,000 | EU ICS up to EUR 20,000 |
| Interest on cash | 1% | 2.25%Higher |
| Stock trade fee | £0 | Not confirmed |
| Currency conversion fee | 0.99% | Not confirmed |
| Account types | ISA, SIPP, Jisa | Not confirmed |
Same on both: Platforms (App, Web).
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Key differences
- Smartbroker scores higher overall: 9.4 vs 8.8.
- Regulators: only Freetrade offers Financial Conduct Authority (FCA).
- Regulators: only Smartbroker offers Federal Financial Supervisory Authority (BaFin).
- Markets: only Smartbroker offers Crypto, Metals.
- Interest on cash is higher at Smartbroker: 2.25% vs 1%.
- Support channels: only Freetrade offers Chat.
- Support channels: only Smartbroker offers Phone.
- Features: only Freetrade offers Fractional shares, Demo account.
- Features: only Smartbroker offers Crypto.
- Pricing model: only Freetrade offers Commission free.
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.
Smartbroker
Smartbroker runs a European brokerage with a €0 account fee and a €0 minimum deposit, which puts it at 1 on the site for deposit levels. It suits investors who want stocks, ETFs, funds and crypto in one account and would rather not pay a monthly charge.
Score breakdown
| Area | Freetrade | Smartbroker |
|---|---|---|
| Cost | 9.0Stock trade fees of £0 and an account fee of £0 sit alongside a 0.99% currency conversion charge. | 9.5Higher |
| Offer | 9.1A UK platform with isa, sipp and jisa accounts, plus a demo account, fractional shares and stocks, etfs and bonds. | 9.2HigherLow-fees model across stocks, etfs and crypto, supervised by BaFin and Federal Financial Supervisory Authority (BaFin) and reachable on email, phone and help centre. |
| Trust | 8.5 | 9.5Higher |
Where each is licensed and available
| Country | Freetrade | Smartbroker |
|---|---|---|
| Germany | Not confirmed | Federal Financial Supervisory Authority (BaFin) MiCA CASP 391200N0BYCZF2F43264 |
| United Kingdom | Not confirmed |
Additional countries for Freetrade: 1. Additional countries for Smartbroker: 1.
Side by side, item by item
| Markets | Freetrade | Smartbroker |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Crypto | No | Yes |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Metals | No | Yes |
Also worth a look
ActivTrades has interest on cash at 3.3%, against 1% for Freetrade and 2.25% for Smartbroker.
ActivTrades reviewHow they place
| Ranking | Freetrade | Smartbroker |
|---|---|---|
| Stock and ETF brokers | 179 of 471 | 60 of 471 |
Every fact side by side
| Fact | Freetrade | Smartbroker |
|---|---|---|
| Features | Fractional shares, Mobile app, Demo account | Crypto, Mobile app |
| Pricing model | Commission free | Low fees |
| Audience | Beginners | Not confirmed |
| Legal entity | Freetrade Limited | Smartbroker AG |
| Headquarters | United Kingdom | Germany |
| Founded | 2016 | Not confirmed |
| Support channels | Email, Chat, Help centre | Email, Phone, Help centre |
Where each stands against the rest
| Fact | Freetrade | Smartbroker | Median |
|---|---|---|---|
| Stock trade fee | £0at the median | Not confirmed | £0 |
| Currency conversion fee | 0.99%highest quarter | Not confirmed | 0.45% |
| Interest on cash | 1%lowest quarter | 2.25%below the median | 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.
Smartbroker
Pros
- Account fee of €0, matching the $0 account fee at eToro and sitting at 1 among 138 brands on account fee.
- Nothing to pay to open, with a minimum deposit of €0 against a site median of €4.64.
- One account covers stocks, etfs and crypto.
Cons
- Protection is limited to what the scheme pays, listed as EU ICS up to EUR 20,000, so larger balances rely on your own holdings.
- Support runs on email, phone and help centre only, with no live chat listed.
- Markets stop at stocks, etfs and crypto, with no forex, options or futures listed.
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
Smartbroker
Who it suits
- European investors who want a German-regulated account holding stocks, etfs and crypto under one roof.
- Anyone with spare cash to park while they decide, with 2.25% on the daily deposit account.
- People who trade away from a desk, since access runs through Web and App.
Who should look elsewhere
- Vantage, if you would rather start against a published floor of $5 than an open entry of €0.
- eToro, if your trading runs past the stocks, etfs and crypto list here and you want to weigh its range against Smartbroker's.
- Anyone holding a large cash balance, since protection is listed as EU ICS up to EUR 20,000.
Country by country
| Country | Freetrade | Smartbroker |
|---|---|---|
| Germany | No | Yes |
| 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.
Smartbroker
What does Smartbroker charge to hold an account?+
The account fee is €0, so there is no monthly charge for keeping the account open. Entry is also open, with a minimum deposit of €0. Trading costs still apply on individual orders, and the pricing page is where per-trade charges are set out.
Is my money protected at Smartbroker?+
Smartbroker is regulated by BaFin and Federal Financial Supervisory Authority (BaFin), and the listed investor protection is EU ICS up to EUR 20,000. The German regulator supervises the firm, while the compensation scheme pays out on eligible balances up to the stated limit.
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