eToro vs Freetrade

eToro vs Freetrade

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September 23, 2022
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**Below content does not apply to US users. eToro USA LCC does not offer CFDs, only real Crypto assets available.

eToro is one of the world's largest multi-asset trading platforms that offer Stocks, ETFs, Cryptocurrencies, Commodities, and more. Their brokerage also has some advanced digital asset features like Cryptocurrency Staking to help you earn interest and passive income on your digital assets.

Freetrade on the other hand offers only Stocks, ETFs, and commodities. Its platform is widely regarded for its easy-to-use app and ISA account support. The Freetrade app currently has over 6,000 stocks but does not offer any digital asset support.

In this eToro vs Freetrade comparison, we will break down both of their key features, fees, and products to determine which is best for investors in the UK and Europe.

eToro vs Freetrade

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Table of Contents

Platform Highlights

eToro and Freetrade Key Features

eToro's main key feature is its wide range of markets. There are no other platforms around the world that offer as many tradable assets as eToro. Their exchange is the only brokerage in the world where you can buy stocks and ETFs, and also buy cryptocurrencies and stake them natively.

eToro UI vs Free

Freetrade is a slightly more traditional share brokerage platform like Hargreaves Lansdown or AJ Bell that gives investors easy access to UK, US & other global markets. They do not have any standout features, but the user experience on their mobile app is slick & easy to use.

eToro vs Freetrade

Freetrade vs eToro

Available Markets 26+ Global Markets, 60+ Cryptos, Commodities, ETFs and more Stocks & ETFs only
Fiat Currency Options USD GBP only
Fees 1% 1%
Year Founded 2007 2016
Crypto Trading Image Image
Regulated by FCA Image Image
Overall Rating Image Image
Visit Website Visit eToro Visit Freetrade

78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Winner: eToro provides investors with more flexibility and access to a wider variety of asset classes.

eToro vs Freetrade Trading Fees

eToro offers charges a fee in the spread when trading on their platform, this varies depending on they coin you buy or sell. They also charge an FX fee of 0.30% to deposit GBP on their platform, which gets swapped for USD.

Freetrade also offers free trading for the 6,000 assets listed on their app, but charges a slightly higher FX rate of 0.45% plus the Spot Rate (0.5%). This means Freetrade fees are up to 1% per transaction. Our research team also noted that they left out eToro from their pricing comparison, highlighting that they do not have better fees.

Winner: eToro is a cheaper trading platform by 0.7% per transaction compared to Freetrade.

Security and Regulation

eToro and Freetrade both have the same licensing to operate in the United Kingdom, Europe, and abroad. Both platforms fall under the regulatory purview of the Financial Conduct Authority (FCA), which means that are both safe to use.

We cannot select a winner with respect to regulatory compliance and it is a tie.

Final Verdict

Overall, eToro is the superior platform when compared to Freetrade because they offer more markets and lower fees. We think that Freetrade offers a significantly worse user experience because they do not support the digital asset economy, nor do they plan to in the future.

eToro vs Freetrade

Co-Founder & former Investment Banker (Finance MBA) turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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