Head to head

flatex vs Freetrade — which broker is better?

flatex or Freetrade? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.

Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.

flatex

One flat EUR 5.90 per order, free ETF savings plans and a German banking licence — the incumbent that actually competes on price.

4.0

Group index 79/100Protection depends on your legal entity

BaFin

Stocks (per order): €5.90
Minimum deposit: None
FX conversion: 0.35 %

Visit broker Full review

Freetrade

Commission-free UK investing with the ISA and SIPP thrown in — as long as you read the FX line.

3.7

Group index 69/100Protection depends on your legal entity

FCA

Stocks (per order): Free
Minimum deposit: None
FX conversion: 0.99 %

Visit broker Full review

Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.

The verdict in numbers

Four decision axes, each derived from the recorded data.

Overall flatex takes it, 4.0 against 3.7 out of 5. Freetrade is the cheaper of the two: a reference EUR 5,000 stock order costs €0.00 there against €5.90. flatex scores 79 against 69 out of 100 on the group index. Your account's protection depends on its legal entity. flatex covers more ground with 9 of 14 asset classes against 4. We rate platform and app at 3.9 out of 5 for both. Which one is right depends on which of these axes matters for your trading profile.

Overall score

flatex: 4.0 — Better
Freetrade: 3.7

Costs

flatex: €5.90
Freetrade: €0.00 — Better

Group indexNo winner

flatex: 79 of 100
Freetrade: 69 of 100

Product range

flatex: 9/14 — Better
Freetrade: 4/14

Platform & appTie

flatex: 3.9
Freetrade: 3.9

Compare brokers side by side

Up to four brokers at once — every row a decision point.

Data as of: 30 Aug 2026

Best value in the row

flatex · Freetrade
Criterion	flatex 4.0 Visit broker	Freetrade 3.7 Visit broker

Overall score	4.0 — Better	3.7
Group index	79 of 100	69 of 100
Best for	Medium and large single ordersETF savings plan investorsCost-conscious German and Austrian investorsSpot crypto inside a regulated bankBuy-and-hold portfolios that stay fully invested	UK ISA and SIPP investorsBeginners buying UK shares and ETFsBuy-and-hold investorsFractional US share investorsLow-balance accounts

Regulation	BaFin	FCA
Top-tier licences	1	1
Investor protection	€100,000 — Better	£85,000
Listed group	Yes	No
Banking licence	Yes	No
Segregated client accounts	Yes	Yes
Negative balance protection	Yes	Yes
Audited financials	Yes	Yes
Disclosed regulatory actions	3	1
Founded	2006	2015
Headquarters	Frankfurt am Main, DE	London, GB

Fees	4.3 — Better	4.0
Safety & regulation	4.2	4.5 — Better
Trading platform	3.8 — Better	3.4
Product range	4.0 — Better	2.6
Mobile app	3.9	4.4 — Better
Research	3.3 — Better	2.6
Customer support	3.6 — Better	3.2
Deposit & withdrawal	3.6	4.0 — Better
Account opening	4.3	4.5 — Better
Education	3.6 — Better	3.0

Reference order EUR 5,000	€5.90	€0.00 — Better
Minimum deposit	None	None
Stocks (per order)	€5.90	Free — Better
US stocks	€5.90	Free — Better
ETFs	€5.90	Free — Better
Options	Not offered	Not offered
Futures	Not offered	Not offered
Crypto	0.6 %	n/a
Bonds (order)	€5.90	Free
Funds (order)	€5.90	Free
EUR/USD spread	n/a	n/a
Index CFD spread	n/a	n/a
FX conversion	0.35 % — Better	0.99 %
Inactivity fee	None	None
Custody fee	None	None
Withdrawal fee	free	free
Deposit fee	free	free
Overnight financing	n/a	n/a
Other fees	Account and custody fee: EUR 0.00 — depot, cash account, joint depot, second depot and foreign-currency accounts are all free Inactivity fee: None Interest on cash: 0.00% p.a. credit interest — the single biggest hidden cost at flatex Margin / Wertpapierkredit: 6.25% p.a. within an approved credit line; 9.50% p.a. on tolerated overdrafts Currency conversion: An absolute margin on the interbank rate: USD 0.0040 and CHF 0.0040 per euro, GBP 0.0020, CAD 0.0070, JPY 0.2600, SEK 0.0700, NOK 0.0240, DKK 0.0020. On EUR/USD in the 1.10–1.20 range that USD 0.0040 works out to roughly 0.33%–0.36% one way; we record 0.35% as the working figure Real-time quotes: 50 free quotes for new customers, then 25 per month plus 10 per executed order; EUR 0.01 per query beyond the free allowance +7	Dealing commission: GBP 0 on every plan, UK and US FX conversion: 0.99% Basic / 0.59% Standard / 0.39% Plus Plan subscription: GBP 0 / GBP 5.99 / GBP 11.99 per month, or GBP 59.88 / GBP 119.88 billed annually (17% cheaper) ISA and SIPP: Included on all plans, including free Basic — no separate wrapper fee UK stamp duty (SDRT): 0.5% on most UK share purchases — a government tax, not a Freetrade fee Inactivity fee: None +3

Asset classes (of 14)	9 — Better	4
Exchanges	40	n/a
Stocks	Yes	Yes
ETFs	Yes	Yes
Options	No	No
Futures	No	No
Forex	No	No
CFDs	Yes	No
Crypto	Yes	No
Bonds	Yes	Yes
Funds	Yes	Yes
Commodities	Yes	No
Indices	Yes	No
Warrants	Yes	No
Spread betting	No	No
Social trading	No	No

Platforms	flatex next (web)flatex next (mobile)flatex classicflatex trader 2.0stock3	Freetrade mobile appFreetrade web
Demo account	Yes	No
Fractional shares	Yes	Yes
Maximum leverage	1:30	n/a
Account opening	Fully online with video or eID identification; flatex advertises account opening in about five minutes	Fully in-app; most UK applicants are approved in under 10 minutes with a passport or driving licence
Account types	flatex DepotGemeinschaftsdepotKinderdepotAltersvorsorgedepotCFD-KontoFremdwährungskonto	General investment account (GIA)Stocks and shares ISAJunior stocks and shares ISAPersonal pension (SIPP)

Payment methods	Bank transferSEPA	Bank transferDebit cardApple Pay
Account currencies	EURUSDGBPCHFCADAUDJPYSEKNOKDKK+2	GBP
Deposit time	SEPA credit transfer, typically 1–2 business days	Bank transfer usually within hours on a business day; debit card and Apple Pay top-ups are near-instant
Withdrawal time	1–2 business days to the registered reference account	Plus: same day if requested before 2 PM on a working day; after 2 PM, at a weekend or on a bank holiday, by the end of the next working day; may not arrive the same day if the bank is not on Faster Payments. Basic and Standard: typically 2–3 working days, up to 5 in some cases (terms: normally 1–5 working days, up to 7 days)
Free withdrawals	n/a	n/a

Languages	German	English
Channels	PhoneEmailTicket system	EmailLive chatTicket system
Availability	Weekday telephone and e-mail support; flatex does not publish fixed service hours on its public contact page	UK business hours, Monday to Friday; Plus subscribers are routed to a priority queue

Strengths and weaknesses side by side

Editorial assessment based on the recorded data.

flatex

One flat EUR 5.90 per order, free ETF savings plans and a German banking licence — the incumbent that actually competes on price.

4.0

Pros

EUR 5.90 flat commission on German, US, Canadian and other foreign orders with no percentage component up to EUR 40,000 — a EUR 10,000 trade costs the same as a EUR 1,000 trade
All ETF and fund savings plans execute at EUR 0.00 commission with over 5,000 plans available and no cap on the savings rate
No custody fee, no account fee, no inactivity fee, and free incoming and outgoing depot transfers
Genuine spot crypto in around 25 coins at 0.6%–0.7% all-in, held inside the regulated German bank rather than as an ETN wrapper
Full German banking licence under BaFin and Bundesbank supervision, with an MDAX-listed parent (flatexDEGIRO SE, ticker FTK) publishing audited accounts and over EUR 100 billion in customer securities under custody
Tax-simple in both markets it serves: automatic German Abgeltungsteuer withholding and automatic Austrian KESt settlement at 27.5% on flatex.at
Free foreign-currency sub-accounts, so USD or CHF proceeds can be held rather than converted back at a spread every time
Fast onboarding — flatex advertises a five-minute fully digital account opening, and no minimum deposit applies

Cons

0.00% p.a. credit interest on cash balances. Competitors pay 1%–1.75% on the settlement or call account, so an investor holding EUR 20,000 in cash gives up EUR 200–350 a year that never shows up in any fee table
Currency conversion costs an absolute margin of USD 0.0040 per euro — roughly 0.35% — which is worse than Consorsbank's published USD 0.0030 and far worse than a multi-currency specialist
No Eurex or US options and futures trading at all. Certificates, knock-outs and Société Générale CFDs are the only leveraged instruments on offer
Real-time quotes are metered: 25 free per month plus 10 per executed order, then EUR 0.01 per query, and the professional flatex trader 2.0 platform costs EUR 15–39 a month on top
The EUR 5.90 floor makes flatex expensive for small orders — a EUR 300 purchase pays about 2% in commission before venue costs, where a EUR 1 neobroker charges 0.3%
Direct foreign market access is narrow: US, Canada, Euronext, Vienna, Zurich and Milan (sell only). There is no direct London, Tokyo, Hong Kong or Nordic access, and stock savings plans cost 1.00% of the rate

Best for

Medium and large single ordersETF savings plan investorsCost-conscious German and Austrian investorsSpot crypto inside a regulated bankBuy-and-hold portfolios that stay fully invested

Freetrade

Commission-free UK investing with the ISA and SIPP thrown in — as long as you read the FX line.

3.7

Pros

GBP 0 dealing commission on every UK and US stock, ETF and investment trust, on all three plans including free Basic
Stocks and shares ISA, Junior ISA and SIPP are included on the free plan — most UK app brokers charge for at least one wrapper
FCA authorised under firm reference 783189 with FSCS cover up to GBP 85,000, and since 2025 part of FTSE 100-listed IG Group
FX markup falls to 0.39% on the Plus plan, which is competitive for a UK app broker buying US shares
US fractional shares let small amounts be invested in high-priced names without rounding down to zero
Around 720,000 customers and GBP 3.3 billion under administration as reported by its listed owner IG Group — real scale rather than a startup pilot
Account opening is genuinely a few minutes, with no minimum deposit and free deposits and withdrawals
No inactivity fee, no custody fee and no platform fee on the free tier

Cons

The 0.99% FX markup on the free plan is the real cost of the account: a GBP 2,000 US order costs GBP 19.80 to convert, which is worse than a flat-commission broker
UK residents only — there is no route in from Germany, Austria, Switzerland or Ireland, and Freetrade withdrew from its earlier European markets
No options, futures, forex, CFDs, spot crypto or corporate bonds; the asset range is UK and US equities, ETFs, investment trusts, funds, gilts and T-bills
No telephone support at all — everything goes through in-app chat and email, with priority routing reserved for Plus subscribers
Research, screening and charting are minimal; you will need an external tool for anything beyond a price chart and a fundamentals summary
Monthly billing costs 20% more than annual (GBP 5.99 versus an effective GBP 4.99), so the advertised plan prices require a twelve-month commitment

Best for

UK ISA and SIPP investorsBeginners buying UK shares and ETFsBuy-and-hold investorsFractional US share investorsLow-balance accounts

Open an account with either

A demo account costs nothing and answers the platform question in ten minutes.

Visit broker: flatex Visit broker: Freetrade

More comparisons

Alternatives people weigh up alongside these two.

flatex vs Freetrade — which broker is better?

flatex or Freetrade? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.

The verdict in numbers

Four decision axes, each derived from the recorded data.

flatex · Freetrade
Criterion	flatex 4.0 Visit broker	Freetrade 3.7 Visit broker

Overall score	4.0 — Better	3.7
Group index	79 of 100	69 of 100
Best for	Medium and large single ordersETF savings plan investorsCost-conscious German and Austrian investorsSpot crypto inside a regulated bankBuy-and-hold portfolios that stay fully invested	UK ISA and SIPP investorsBeginners buying UK shares and ETFsBuy-and-hold investorsFractional US share investorsLow-balance accounts

Regulation	BaFin	FCA
Top-tier licences	1	1
Investor protection	€100,000 — Better	£85,000
Listed group	Yes	No
Banking licence	Yes	No
Segregated client accounts	Yes	Yes
Negative balance protection	Yes	Yes
Audited financials	Yes	Yes
Disclosed regulatory actions	3	1
Founded	2006	2015
Headquarters	Frankfurt am Main, DE	London, GB

Fees	4.3 — Better	4.0
Safety & regulation	4.2	4.5 — Better
Trading platform	3.8 — Better	3.4
Product range	4.0 — Better	2.6
Mobile app	3.9	4.4 — Better
Research	3.3 — Better	2.6
Customer support	3.6 — Better	3.2
Deposit & withdrawal	3.6	4.0 — Better
Account opening	4.3	4.5 — Better
Education	3.6 — Better	3.0

Reference order EUR 5,000	€5.90	€0.00 — Better
Minimum deposit	None	None
Stocks (per order)	€5.90	Free — Better
US stocks	€5.90	Free — Better
ETFs	€5.90	Free — Better
Options	Not offered	Not offered
Futures	Not offered	Not offered
Crypto	0.6 %	n/a
Bonds (order)	€5.90	Free
Funds (order)	€5.90	Free
EUR/USD spread	n/a	n/a
Index CFD spread	n/a	n/a
FX conversion	0.35 % — Better	0.99 %
Inactivity fee	None	None
Custody fee	None	None
Withdrawal fee	free	free
Deposit fee	free	free
Overnight financing	n/a	n/a
Other fees	Account and custody fee: EUR 0.00 — depot, cash account, joint depot, second depot and foreign-currency accounts are all free Inactivity fee: None Interest on cash: 0.00% p.a. credit interest — the single biggest hidden cost at flatex Margin / Wertpapierkredit: 6.25% p.a. within an approved credit line; 9.50% p.a. on tolerated overdrafts Currency conversion: An absolute margin on the interbank rate: USD 0.0040 and CHF 0.0040 per euro, GBP 0.0020, CAD 0.0070, JPY 0.2600, SEK 0.0700, NOK 0.0240, DKK 0.0020. On EUR/USD in the 1.10–1.20 range that USD 0.0040 works out to roughly 0.33%–0.36% one way; we record 0.35% as the working figure Real-time quotes: 50 free quotes for new customers, then 25 per month plus 10 per executed order; EUR 0.01 per query beyond the free allowance +7	Dealing commission: GBP 0 on every plan, UK and US FX conversion: 0.99% Basic / 0.59% Standard / 0.39% Plus Plan subscription: GBP 0 / GBP 5.99 / GBP 11.99 per month, or GBP 59.88 / GBP 119.88 billed annually (17% cheaper) ISA and SIPP: Included on all plans, including free Basic — no separate wrapper fee UK stamp duty (SDRT): 0.5% on most UK share purchases — a government tax, not a Freetrade fee Inactivity fee: None +3

Asset classes (of 14)	9 — Better	4
Exchanges	40	n/a
Stocks	Yes	Yes
ETFs	Yes	Yes
Options	No	No
Futures	No	No
Forex	No	No
CFDs	Yes	No
Crypto	Yes	No
Bonds	Yes	Yes
Funds	Yes	Yes
Commodities	Yes	No
Indices	Yes	No
Warrants	Yes	No
Spread betting	No	No
Social trading	No	No

Platforms	flatex next (web)flatex next (mobile)flatex classicflatex trader 2.0stock3	Freetrade mobile appFreetrade web
Demo account	Yes	No
Fractional shares	Yes	Yes
Maximum leverage	1:30	n/a
Account opening	Fully online with video or eID identification; flatex advertises account opening in about five minutes	Fully in-app; most UK applicants are approved in under 10 minutes with a passport or driving licence
Account types	flatex DepotGemeinschaftsdepotKinderdepotAltersvorsorgedepotCFD-KontoFremdwährungskonto	General investment account (GIA)Stocks and shares ISAJunior stocks and shares ISAPersonal pension (SIPP)

Payment methods	Bank transferSEPA	Bank transferDebit cardApple Pay
Account currencies	EURUSDGBPCHFCADAUDJPYSEKNOKDKK+2	GBP
Deposit time	SEPA credit transfer, typically 1–2 business days	Bank transfer usually within hours on a business day; debit card and Apple Pay top-ups are near-instant
Withdrawal time	1–2 business days to the registered reference account	Plus: same day if requested before 2 PM on a working day; after 2 PM, at a weekend or on a bank holiday, by the end of the next working day; may not arrive the same day if the bank is not on Faster Payments. Basic and Standard: typically 2–3 working days, up to 5 in some cases (terms: normally 1–5 working days, up to 7 days)
Free withdrawals	n/a	n/a

Languages	German	English
Channels	PhoneEmailTicket system	EmailLive chatTicket system
Availability	Weekday telephone and e-mail support; flatex does not publish fixed service hours on its public contact page	UK business hours, Monday to Friday; Plus subscribers are routed to a priority queue

Criterion

4.0

3.7

Overall score

4.0

3.7

Group index

79 of 100

69 of 100

Best for

Medium and large single ordersETF savings plan investorsCost-conscious German and Austrian investorsSpot crypto inside a regulated bankBuy-and-hold portfolios that stay fully invested

UK ISA and SIPP investorsBeginners buying UK shares and ETFsBuy-and-hold investorsFractional US share investorsLow-balance accounts

Regulation

BaFin

FCA

Top-tier licences

Investor protection

€100,000

£85,000

Listed group

Banking licence

Segregated client accounts

Negative balance protection

Audited financials

Disclosed regulatory actions

Founded

2006

2015

Headquarters

Frankfurt am Main, DE

London, GB

Fees

4.3

4.0

Safety & regulation

4.2

4.5

Trading platform

3.8

3.4

Product range

4.0

2.6

Mobile app

3.9

4.4

Research

3.3

2.6

Customer support

3.6

3.2

Deposit & withdrawal

3.6

4.0

Account opening

4.3

4.5

Education

3.6

3.0

Reference order EUR 5,000

€5.90

€0.00

Minimum deposit

None

Stocks (per order)

€5.90

Free

US stocks

€5.90

Free

ETFs

€5.90

Free

Options

Not offered

Futures

Not offered

Crypto

0.6 %

n/a

Bonds (order)

€5.90

Free

Funds (order)

€5.90

Free

EUR/USD spread

n/a

Index CFD spread

n/a

FX conversion

0.35 %

0.99 %

Inactivity fee

None

Custody fee

None

Withdrawal fee

free

Deposit fee

free

Overnight financing

n/a

Other fees

Account and custody fee: EUR 0.00 — depot, cash account, joint depot, second depot and foreign-currency accounts are all free
Inactivity fee: None
Interest on cash: 0.00% p.a. credit interest — the single biggest hidden cost at flatex
Margin / Wertpapierkredit: 6.25% p.a. within an approved credit line; 9.50% p.a. on tolerated overdrafts
Currency conversion: An absolute margin on the interbank rate: USD 0.0040 and CHF 0.0040 per euro, GBP 0.0020, CAD 0.0070, JPY 0.2600, SEK 0.0700, NOK 0.0240, DKK 0.0020. On EUR/USD in the 1.10–1.20 range that USD 0.0040 works out to roughly 0.33%–0.36% one way; we record 0.35% as the working figure
Real-time quotes: 50 free quotes for new customers, then 25 per month plus 10 per executed order; EUR 0.01 per query beyond the free allowance
+7

Dealing commission: GBP 0 on every plan, UK and US
FX conversion: 0.99% Basic / 0.59% Standard / 0.39% Plus
Plan subscription: GBP 0 / GBP 5.99 / GBP 11.99 per month, or GBP 59.88 / GBP 119.88 billed annually (17% cheaper)
ISA and SIPP: Included on all plans, including free Basic — no separate wrapper fee
UK stamp duty (SDRT): 0.5% on most UK share purchases — a government tax, not a Freetrade fee
Inactivity fee: None
+3

Asset classes (of 14)

Exchanges

n/a

Stocks

ETFs

Options

Futures

Forex

CFDs

Crypto

Bonds

Funds

Commodities

Indices

Warrants

Spread betting

Social trading

Platforms

flatex next (web)flatex next (mobile)flatex classicflatex trader 2.0stock3

Freetrade mobile appFreetrade web

Demo account

Fractional shares

Maximum leverage

1:30

n/a

Account opening

Fully online with video or eID identification; flatex advertises account opening in about five minutes

Fully in-app; most UK applicants are approved in under 10 minutes with a passport or driving licence

Account types

flatex DepotGemeinschaftsdepotKinderdepotAltersvorsorgedepotCFD-KontoFremdwährungskonto

General investment account (GIA)Stocks and shares ISAJunior stocks and shares ISAPersonal pension (SIPP)

Payment methods

Bank transferSEPA

Bank transferDebit cardApple Pay

Account currencies

EURUSDGBPCHFCADAUDJPYSEKNOKDKK+2

GBP

Deposit time

SEPA credit transfer, typically 1–2 business days

Bank transfer usually within hours on a business day; debit card and Apple Pay top-ups are near-instant

Withdrawal time

1–2 business days to the registered reference account

Plus: same day if requested before 2 PM on a working day; after 2 PM, at a weekend or on a bank holiday, by the end of the next working day; may not arrive the same day if the bank is not on Faster Payments. Basic and Standard: typically 2–3 working days, up to 5 in some cases (terms: normally 1–5 working days, up to 7 days)

Free withdrawals

n/a

Languages

German

English

Channels

PhoneEmailTicket system

EmailLive chatTicket system

Availability

Weekday telephone and e-mail support; flatex does not publish fixed service hours on its public contact page

UK business hours, Monday to Friday; Plus subscribers are routed to a priority queue