Head to head

Freetrade vs flatex — which broker is better?

Freetrade or flatex? 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.

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

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

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

Freetrade: 3.7
flatex: 4.0 — Better

Costs

Freetrade: €0.00 — Better
flatex: €5.90

Group indexNo winner

Freetrade: 69 of 100
flatex: 79 of 100

Product range

Freetrade: 4/14
flatex: 9/14 — Better

Platform & appTie

Freetrade: 3.9
flatex: 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

Freetrade · flatex
Criterion	Freetrade 3,7 Visit broker	flatex 4,0 Visit broker

Overall score	3.7	4.0 — Better
Group index	69 of 100	79 of 100
Best for	UK ISA and SIPP investorsBeginners buying UK shares and ETFsBuy-and-hold investorsFractional US share investorsLow-balance accounts	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

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

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

Reference order EUR 5,000	€0.00 — Better	€5.90
Minimum deposit	None	None
Stocks (per order)	Free — Better	€5.90
US stocks	Free — Better	€5.90
ETFs	Free — Better	€5.90
Options	Not offered	Not offered
Futures	Not offered	Not offered
Crypto	n/a	0.6 %
Bonds (order)	Free	€5.90
Funds (order)	Free	€5.90
EUR/USD spread	n/a	n/a
Index CFD spread	n/a	n/a
FX conversion	0.99 %	0.35 % — Better
Inactivity fee	None	None
Custody fee	None	None
Withdrawal fee	free	free
Deposit fee	free	free
Overnight financing	n/a	n/a
Other fees	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	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

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

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

Payment methods	Bank transferDebit cardApple Pay	Bank transferSEPA
Account currencies	GBP	EURUSDGBPCHFCADAUDJPYSEKNOKDKK+2
Deposit time	Bank transfer usually within hours on a business day; debit card and Apple Pay top-ups are near-instant	SEPA credit transfer, typically 1–2 business days
Withdrawal time	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)	1–2 business days to the registered reference account
Free withdrawals	n/a	n/a

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

Strengths and weaknesses side by side

Editorial assessment based on the recorded data.

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

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

Open an account with either

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

Visit broker: Freetrade Visit broker: flatex

More comparisons

Alternatives people weigh up alongside these two.

Freetrade vs flatex — which broker is better?

Freetrade or flatex? 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.

Freetrade · flatex
Criterion	Freetrade 3,7 Visit broker	flatex 4,0 Visit broker

Overall score	3.7	4.0 — Better
Group index	69 of 100	79 of 100
Best for	UK ISA and SIPP investorsBeginners buying UK shares and ETFsBuy-and-hold investorsFractional US share investorsLow-balance accounts	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

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

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

Reference order EUR 5,000	€0.00 — Better	€5.90
Minimum deposit	None	None
Stocks (per order)	Free — Better	€5.90
US stocks	Free — Better	€5.90
ETFs	Free — Better	€5.90
Options	Not offered	Not offered
Futures	Not offered	Not offered
Crypto	n/a	0.6 %
Bonds (order)	Free	€5.90
Funds (order)	Free	€5.90
EUR/USD spread	n/a	n/a
Index CFD spread	n/a	n/a
FX conversion	0.99 %	0.35 % — Better
Inactivity fee	None	None
Custody fee	None	None
Withdrawal fee	free	free
Deposit fee	free	free
Overnight financing	n/a	n/a
Other fees	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	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

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

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

Payment methods	Bank transferDebit cardApple Pay	Bank transferSEPA
Account currencies	GBP	EURUSDGBPCHFCADAUDJPYSEKNOKDKK+2
Deposit time	Bank transfer usually within hours on a business day; debit card and Apple Pay top-ups are near-instant	SEPA credit transfer, typically 1–2 business days
Withdrawal time	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)	1–2 business days to the registered reference account
Free withdrawals	n/a	n/a

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

Criterion

3,7

4,0

Overall score

3.7

4.0

Group index

69 of 100

79 of 100

Best for

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

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

Regulation

FCA

BaFin

Top-tier licences

Investor protection

£85,000

€100,000

Listed group

Banking licence

Segregated client accounts

Negative balance protection

Audited financials

Disclosed regulatory actions

Founded

2015

2006

Headquarters

London, GB

Frankfurt am Main, DE

Fees

4.0

4.3

Safety & regulation

4.5

4.2

Trading platform

3.4

3.8

Product range

2.6

4.0

Mobile app

4.4

3.9

Research

2.6

3.3

Customer support

3.2

3.6

Deposit & withdrawal

4.0

3.6

Account opening

4.5

4.3

Education

3.0

3.6

Reference order EUR 5,000

€0.00

€5.90

Minimum deposit

None

Stocks (per order)

Free

€5.90

US stocks

Free

€5.90

ETFs

Free

€5.90

Options

Not offered

Futures

Not offered

Crypto

n/a

0.6 %

Bonds (order)

Free

€5.90

Funds (order)

Free

€5.90

EUR/USD spread

n/a

Index CFD spread

n/a

FX conversion

0.99 %

0.35 %

Inactivity fee

None

Custody fee

None

Withdrawal fee

free

Deposit fee

free

Overnight financing

n/a

Other fees

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

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

Asset classes (of 14)

Exchanges

n/a

Stocks

ETFs

Options

Futures

Forex

CFDs

Crypto

Bonds

Funds

Commodities

Indices

Warrants

Spread betting

Social trading

Platforms

Freetrade mobile appFreetrade web

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

Demo account

Fractional shares

Maximum leverage

n/a

1:30

Account opening

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

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

Account types

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

flatex DepotGemeinschaftsdepotKinderdepotAltersvorsorgedepotCFD-KontoFremdwährungskonto

Payment methods

Bank transferDebit cardApple Pay

Bank transferSEPA

Account currencies

GBP

EURUSDGBPCHFCADAUDJPYSEKNOKDKK+2

Deposit time

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

SEPA credit transfer, typically 1–2 business days

Withdrawal time

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)

1–2 business days to the registered reference account

Free withdrawals

n/a

Languages

English

German

Channels

EmailLive chatTicket system

PhoneEmailTicket system

Availability

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

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