Freetrade - No commission investment?

Freetrade launched in 2018 with the aim of making both stock trading and ownership accessible and affordable for all. Whilst the platform doesn't have all of the bells and whistles more popular, and expensive platforms have, it does offer low cost, easy to manage investments starting from just £1, all from a smartphone app. There is also an option to open a Stocks and Shares ISA, so any interest and dividends are tax free, up to £20,000 a year.

Freetrade was founded by Adam Dodds and Davide Fioranelli, both founders previously worked in corporate finance. They created the platform with the simple selling point, buy and trade real shares with zero commission or fees, all from your smartphone.

Over the past three years, Freetrade has racked up a loyal base of more than 250,000 registered users. Many of these have contributed to Freetrades crowdfunding rounds that have raised more than £10 million!

How does Freetrade work?

Trading shares can be pricey when using traditional share trading platforms, this is mainly because most of the popular trading platforms have a focus on funds, whereas Freetrade is solely based on shares. You can build up your own portfolio starting from just £2, and there is no fees to sell or buy shares, which is instant. You can purchase shares from both the US and UK stock market, along with exchange-trusted-funds. (ETFs) There is no charge for a general investment account, however an ISA is charged at £3 a month. You can deposit cash using either Apple/Google Pay, or a direct bank transfer. One thing to note is the £250 lifetime limit for Apple/Google Pay, if you want to invest more, you will have to use the bank transfer option. When you want to withdraw cash, this can be done through a bank transfer, and takes three to five working days for it to clear into your bank account.

How do I setup a Freetrade account?

Creating a Freetrade account is easy, there is a website available with all their information and a handy forum to ask any questions you may have, but to create an account you will need their mobile app. You can download this from both the App Store, and Google Play Store. Once you have downloaded the app, you can input your personal information such as: name, date of birth, address and National Insurance number. Upon using a referral link, you can get a free share worth up to £200! Mine will be linked down below.

Freetrade's best features

• Commission free: That's right, there is no commission charged by Freetrade, which means it is free to hold an account, and invest in the UK or US stock market.

• Low minimum investment: You can invest as little as £2!

• Exposure to high flying stocks: Some of the most popular stocks are available on Freetrade, from Apple and Google, to other rising stars.

• ISA: You can open an ISA, or transfer an existing one to Freetrade, meaning you don't pay tax on up to £20,000 a year.

• Free Share: When you sign up, use a referral link to get a free share worth up to £200!

• Shareholder Perks: Freetrade users with a certain amount of stocks are eligible for discounts and other great deals!

Is Freetrade safe?

Freetrade is backed by the Financial Conduct Authority, meaning they must follow rules on how they handle both your money, and their customers. Freetrade is also backed by the Financial Services Compensation Scheme, in the event Freetrade was to become insolvent. This means you are backed by the same protection as your high street bank.

How do I get a free share?

Use my referral link to get a free trade worth up to £200! Please note you must buy a share for a minimum of £2 to be eligible. Comment down below what share you got!