Updated October 13, 2026 · BrokerCue Editorial Team
Freetrade vs Wombat Invest
Facts checked September 26, 2026.
Where Freetrade and Wombat Invest differ
| Compare |  Freetrade |  Wombat Invest |
|---|---|---|
| Minimum deposit | £1Lower | £10 |
| Markets | Stocks, ETFs, Bonds, FundsCovers more | Stocks, ETFs |
| Currency conversion fee | 0.99% | 0.4% to 0.75%Lower |
| Platforms | App, Web | Quilter Invest app |
| Account fee | £0 | Not confirmed |
| Regulators | Financial Conduct Authority (FCA) | Not confirmed |
| Investor protection | FSCS up to GBP 85,000 | Not confirmed |
| Interest on cash | 1% | Not confirmed |
Same on both: Stock trade fee (£0), Account types (ISA, SIPP, Jisa).
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Key differences
- Founded is lower at Freetrade: 2016 vs 2017.
- Minimum deposit is lower at Freetrade: £1 vs £10.
- Currency conversion fee is lower at Wombat Invest: 0.4% to 0.75% vs 0.99%.
- Markets: only Freetrade offers Bonds, Funds.
- Platforms: only Freetrade offers App, Web.
- Platforms: only Wombat Invest offers Quilter Invest app.
- Features: only Freetrade offers 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.
Wombat Invest
Wombat Invest is a broker covering stocks and ETFs through a mobile app with fractional share access. It suits newcomers who want ISA, Junior ISA and SIPP account types and are comfortable managing a focused market range themselves for long term investing.
Score breakdown
| Area | Freetrade | Wombat Invest |
|---|---|---|
| Cost | 9.0Stock trade fees of £0 and an account fee of £0 sit alongside a 0.99% currency conversion charge. | 9.1Higher |
| Offer | 9.1HigherA UK platform with isa, sipp and jisa accounts, plus a demo account, fractional shares and stocks, etfs and bonds. | 9.0 |
| Trust | 8.5Higher | 8.3 |
Choosing between them
Pick Freetrade if minimum deposit and markets matter most.
Pick Wombat Invest if currency conversion fee matter most.
If neither fits
Spreadex has minimum deposit at £0, against £1 for Freetrade and £10 for Wombat Invest.
Spreadex reviewWhat we checked
Freetrade
- freetrade.io: 14 facts, checked September 26, 2026
- en.wikipedia.org: 3 facts, checked September 26, 2026
Wombat Invest
- quilterinvest.com: 8 facts, checked September 26, 2026
- cbinsights.com: 1 fact, checked September 26, 2026
- checkfree.co.uk: 1 fact, checked September 26, 2026
- moneytothemasses.com: 1 fact, checked September 26, 2026
- unbiased.co.uk: 1 fact, checked September 26, 2026
How they place
| Ranking | Freetrade | Wombat Invest |
|---|---|---|
| Stock and ETF brokers | 179 of 491 | 487 of 491 |
| Investment platforms and apps | 37 of 86 | 85 of 86 |
| Brokers for beginners | 49 of 88 | 87 of 88 |
| Stocks and shares ISA providers | 9 of 21 | 21 of 21 |
| SIPP providers | 8 of 22 | 22 of 22 |
| Junior ISA providers | 5 of 14 | 14 of 14 |
Every fact side by side
| Fact | Freetrade | Wombat Invest |
|---|---|---|
| Features | Fractional shares, Mobile app, Demo accountCovers more | Fractional shares, Mobile app |
| Pricing model | Commission free | Commission free |
| Audience | Beginners | Beginners |
| Legal entity | Freetrade Limited | NuWealth Ltd |
| Headquarters | United Kingdom | Not confirmed |
| Founded | 2016Lower | 2017 |
| Support channels | Email, Chat, Help centre | Email, Chat, Help centre |
Where each stands against the rest
| Fact | Freetrade | Wombat Invest | Median |
|---|---|---|---|
| Minimum deposit | £1below the median | £10below the median | £20 |
| 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 | 0.4% to 0.75%below the median | 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.
Wombat Invest
Pros
- Offers stocks and ETFs with fractional share access inside a mobile app
- Includes ISA, Junior ISA and SIPP account types for long term goals
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
Wombat Invest
Who it suits
- Beginners focused on stocks and ETFs by mobile
- Savers planning around ISA, Junior ISA or SIPP wrappers
Country by country
| Country | Freetrade | Wombat Invest |
|---|---|---|
| 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.
Wombat Invest
What markets does Wombat Invest cover?+
Wombat Invest covers stocks and ETFs for retail investors. Access runs through a mobile app and includes fractional share positions. The range stays focused, so checking the available securities matters before choosing.
Which account types does Wombat Invest include?+
Wombat Invest includes ISA, Junior ISA and SIPP account types alongside its investment access. Each wrapper serves different long term aims and eligibility rules apply in practice. Reviewing the current account terms helps decide which structure matches household needs.