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eToro vs Freetrade

In my comparison of eToro vs Freetrade, I will look at which of these trading platforms is best for your needs.

I compare their fees, the products available, and outline why I think eToro is a better platform than Freetrade.

Is eToro better than Freetrade?

Yes, eToro is better than Freetrade in my opinion. During my extensive testing and comparison, I found that whilst these are two unique trading platforms, eToro has pulled slightly ahead of the race, largely due to its extensive investment opportunities as well as it’s thriving social and copy trading capabilities.

etoro vs Freetrade

Key takeaways

eToro has outperformed Freetrade in the following areas:

  • The vast number of tradable assets available
  • Thriving social and copy trading platform
  • Leading crypto trading platform with low spreads
  • Good research, tools and a free demo account
eToro logo
Freetrade logo
Minimum deposit $10Get a FREE share worth between £3 - £200
VisitVisit

Overall Rating

Platform
Ratings
Overall Rating:
90%
Fees:
90%
Account opening:
100%
Deposit and withdrawal:
70%
Trading platform:
90%
Markets and products:
80%
Research:
70%
Customer service:
70%
Education:
50%
Overall Rating:
80%
Fees:
100%
Account opening:
100%
Deposit and withdrawal:
50%
Trading platform:
30%
Markets and products:
40%
Research:
1%
Customer service:
70%
Education:
60%
ReviewRead ReviewRead Review

Which platform is cheaper?

Fees

Platform
Minimum DepositThe minimum amount required to open an account
$10
£1
Minimum TradeThe minimum amount to trade or buy shares
$1
£1
ETFs FeeFee per ETF trade
0%
£0
Investment Trusts FeeFee per investment trust trade
NA
NA
Junior S&S ISA FeeSubscription fee per month and the platform fee
NA
NA
Non Trading FeeFee for not trading in a period
$10 pcm after 1 year inactivity
£0
Stocks & Shares ISA FeeSubscription fee per month and the platform fee
NA
£3 monthly
Telephone Dealing FeeFee for trading over the telephone
NA
NA
Withdrawal FeeFee for withdrawing funds from your account
$5
£0

 

Winner: Freetrade

Freetrade is one of the lowest-cost trading platforms available with zero commission trading, zero minimum deposit, and zero non-trading fees with the exception of £3 per month for the ISA and £9.99 for the SIPP, both accounts that are not offered at eToro.

Whilst eToro can’t compete with these numbers, they are still a very low-cost proposition and also offer zero commission trading on stocks. However, eToro make money with non-trading fees and the spread between the offer and bid price on any asset.

Freetrade or eToro: Which platform offers most?

Platforms & Tools

Platform
Android AppAn Android app available in the Google Play store
Copy TradingOffers the ability to copy other traders portfolios
Demo AccountOffers a demo account
iPhone AppAn app available for download from the iOS app store
Islamic AccountDoes the platform offer a sharia compliant Islamic account
MetaTrader 4Offers the MetaTrader 4 trading platform solution
MetaTrader 5Offers the MetaTrader 5 trading platform solution
Social TradingOffers the ability to share your trades on social media
Stock AlertsAbility to set price alerts, volume alerts
Web PlatformOffers a web-based browser trading platform

 

Winner: Draw

Although eToro originally launched their trading platform on a desktop version, they took the decision to discontinue this option and focus on web trading and mobile applications. Freetrade launched with an app-only interface, however, they have since launched the beta version of Freetrade web for desktop.

However, Freetrade has yet to offer a demo account which is a major drawback for anyone wanting to practise their investing skills before risking any of their own funds.

In addition, novice investors can take advantage of the copy trading offered at eToro, providing scope for users to follow profitable traders and open and close trades automatically as they do.

Which platform has the best financial instruments?

Investments Available

Platform
Auto InvestingAbility to set auto-investing options, usually per month
CFD TradingOffers CFD trading
Corporate BondsOffers corporate bonds
CryptoAbility to buy and sell cryptocurrency
Ethical InvestmentsOffers ethical investment themed funds and ETFs
ETFsAbility to trade ETFs
ForexAble to trade Forex
Fractional SharesAble to buy fractional shares
FundsAble to buy funds
Government Bonds (Gilts)Able to buy government bonds and Gilts
Investment TrustsAble to buy investment trusts
Junior S&S ISAAble to buy a junior stocks and shares ISA
General Investment Account (GIA)Able to buy and sell shares
Spread BettingAble speculate on rising and falling of financial markets
Stocks & Shares ISAAble to buy a stocks and shares ISA

 

Winner: eToro

For a greater variety of financial instruments, eToro is the clear winner. This provides scope for creating a diversified portfolio, which in turn can mitigate your exposure to risk and should therefore not be undervalued.

eToro also leads the way in crypto trading with some of the lowest spreads available, their own wallet service, and a huge variety of crypto assets available to trade.

However, people looking to invest in a tax wrapper would definitely be best served using Freetrade as eToro have yet to offer an ISA or SIPP account.

Which platform has the best research?

Research

Platform
Research - SharesHas share trading research available
Research - CFDsHas CFD research available
Research - FundsHas funds research available
Research - ETFsHas research available for ETFs
Research - BondsHas research available for bonds

 

Winner: eToro

The charting tool at eToro provides around 70 technical indicators although data is only available for the last six months. In addition, there is a daily market analysis newsletter and recommendations on popular stocks including average price target, hedge fund sentiment and insider trading sentiment.

Who has the best customer service?

Customer Service

Platform
PhoneMain phone number for customer services
NA
NA
Live chatHas live chat available
Yes
Chat in app
EmailMain email address for customer services
NA
hello@freetrade.io
24/7 AvailabilityAvailable 24/7 for customer services
Yes
No
TrustPilot RatingThe TrustPilot rating of the platform
4.2
4.3
TwitterThe Twitter account for the platform
https://twitter.com/eToro
https://twitter.com/freetrade

 

Winner: Draw

In terms of customer service, both these propositions provide a good response on Live Chat, however, for customers that prefer phone or email, there is no service of this kind.

Who has the best education available?

Education

Platform
Share Trading GuidesHas guides on share trading
Funds EducationHas guides on trading funds
Retirement EducationHas guides and education on retirement
PodcastsHas podcasts available
VideosHas videos on education available

 

Winner: eToro

Whilst eToro don’t have the best educational resources available, they have managed to outstrip Freetrade in this area with a decent variety of educational resources including written guides, videos, webinars and podcasts.

Is there a better platform than eToro?

No, for retail investors looking for social trading and copy trading capabilities, eToro would be the number one platform in the UK. For more information read my full eToro review here.

FAQs about eToro vs Freetrade

Is Freetrade any good?

Yes, Freetrade is a good platform. Freetrade offer a free stock worth up to £200 when you sign up and make your first deposit and are one of the lowest-cost platforms in the UK.

Is eToro trustworthy?

Yes, eToro is trustworthy and has all the correct regulatory frameworks in place for UK investors and are authorised and regulated by the Financial Conduct Authority.

Best Trading Platform

Join eToro
 

Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.