Expert VerifiedFreetrade SIPP Review (2025): Full Breakdown, Fees, & Charges!
- Last Updated: 05 Aug 2025
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Key Takeaways
- Freetrade is a UK-based fintech known for commission-free investing and an easy-to-use mobile platform.
- The Freetrade SIPP offers low fees and no trading commissions on UK and US stocks.
- It’s ideal for beginners and DIY investors who want simple pension management via an app.
- Contribution limits follow standard UK pension rules, including annual allowances.
- Some drawbacks include fewer investment options and less sophisticated tools compared to traditional providers.
- User reviews praise the platform’s simplicity but note occasional customer support delays.
- Comparing Freetrade with other SIPPs is essential to find the best fit for your needs.
- Regulatory oversight ensures Freetrade operates within FCA rules protecting pension savers.
In a world where a surprising 30% of survey respondents anticipate relying only on the state pension come retirement, private options like the Freetrade SIPP stand out as potential alternatives.1
This SIPP, or Self-Invested Personal Pension, with its intuitive app and adaptable investment options, attracts the modern, money-smart individual.
In This Article, You Will Discover:
The EveryInvestor team is here to delve into what the Freetrade SIPP offers, evaluate how this offering aligns with various investment aims, and highlight the importance of dependable advice.
To help you ensure you are fully informed before making your next move, all our content is thoroughly checked for quality and compliance before publication.
Ready to dive in?
Freetrade UK: Who Are They?
The Freetrade SIPP is a modern, app-based pension solution designed for cost-conscious, tech-savvy investors. It offers commission-free trading on UK and US stocks and ETFs, making it an attractive option for those seeking low fees and a user-friendly experience. However, its investment range and advanced features may be more limited than traditional SIPP providers.
For a comprehensive SIPP checklist, visit the SIPPs Checklist.
Freetrade App Review: Is It Worth Using?
The Freetrade app is designed to make investing as simple as possible; it’s clean, intuitive, and easy to navigate, allowing users to track their investments, buy and sell assets, and manage their SIPP or ISA from their smartphones.
The app is particularly popular among those new to investing due to its minimal learning curve and is overall a solid choice for those seeking a no-fuss, mobile-first investing experience.
However, the app’s simplicity may come at the cost of functionality for more advanced investors, lacking comprehensive research tools and advanced charting options, which could be limiting for those looking for deeper market insights.
SIPP Trading Account: Investment Features in Freetrade
Freetrade’s SIPP trading account offers access to a wide range of stocks, ETFs, and investment trusts—users can buy and sell these assets without paying commission, making it an appealing option for cost-conscious investors.
However, the range of available assets is more limited than some other platforms, which may not suit those looking for more diverse options.
The platform is ideal for those looking for simplicity and low-cost trading, but investors should be aware of the limitations.
What Is a Freetrade SIPP & How Does It Work?
A Freetrade SIPP, or Self-Invested Personal Pension, is a type of pension account that allows individuals to take control of their retirement savings and invest in a wide range of assets.
Unlike traditional pension schemes, a Freetrade SIPP gives you the freedom to choose and manage your own investments, including stocks, bonds, and exchange-traded funds (ETFs).
By opening a Freetrade SIPP, you can benefit from tax advantages, such as tax relief on contributions and tax-free growth on investments, helping you to maximize your retirement savings.
With a Freetrade SIPP, you can enjoy the convenience of managing your pension investments through an intuitive mobile app or web platform.
This enables you to easily track your investments, make contributions, and access a wide range of investment options.
Additionally, Freetrade offers a low-cost fee structure, making it an affordable solution for individuals who want to take control of their retirement savings.
By using our platform, you can harness the power of technology to build a diversified investment portfolio tailored to your risk tolerance and retirement goals, ensuring a comfortable and financially secure future.
How Does the Freetrade SIPP Work?
The Freetrade SIPP works by helping investors find their old pensions so these can be incorporated into their new pension product, and the firm also does not charge commission when you make trades.2
What Are the Advantages of a Freetrade SIPP?
Wide Investment Choice
Freetrade SIPP users can invest in a selection of UK, US, and European stocks, ETFs, and investment trusts. The platform also supports fractional US shares, allowing for greater diversification even with smaller contributions.
Transparent and Competitive Fees
- Monthly platform fee: £9.99 (or £119.88 annually)
- Commission-free trading: No charges for buying or selling UK and US shares
- FX fee: 0.39% on US and European stock trades
- No setup or exit fees
Tax Advantages
- Contributions benefit from tax relief up to the annual allowance (£60,000 for 2025)
- Investments grow free from UK income and capital gains tax
- 25% of your pension pot can usually be withdrawn tax-free from age 55 (rising to 57 in 2028)
Flexible Management
- Manage your SIPP entirely via the Freetrade app or web platform
- Track investments, make contributions, and adjust your portfolio on the go
What Are the Drawbacks of a Freetrade SIPP?
While Freetrade’s SIPP is robust, it may not suit everyone:
Customer Support: Some users report delays with complex queries
Limited Investment Range: No access to OEIC funds or ready-made portfolios
Basic Research Tools: Lacks advanced research and charting features
Withdrawal Options: Limited to uncrystallised funds pension lump sum
Who Is Eligible to Open a Freetrade SIPP?
UK residents under 75
Suitable for both new and experienced investors
What Should You Consider Before Choosing a Freetrade SIPP?
You should consider your risk tolerance and investment goals before choosing a Freetrade SIPP.
Other factors to keep in mind include fees, withdrawal options, and customer support.
Fees & Charges
The Freetrade Plus plan, which includes a SIPP account, charges a £9,99 monthly (or £119,88 annual) platform fee.6
There are no charges for domestic share dealing and transfers, and a 0,39% FX fee applies to US and European stock trades.7
Investment Options
You will be able to invest in an array of UK, US, and European stocks, ETFs, and investment trusts.8
Freetrade also offers the option to trade in fractional US shares.
Flexibility & Accessibility
Manage your SIPP on the go through the intuitive mobile app, and adapt your investments as your financial situation evolves.
Tax Benefits & Implications
Maximise tax relief on contributions and enjoy potential tax-free growth within the SIPP.
Be sure to keep abreast of changing regulations.
Withdrawal & Retirement Options
You can start withdrawals of your funds from age 55 (57 from 2028).
With Freetrade, you can take an uncrystallised funds pension lump sum when you withdraw your investment.9
Customer Support & Service
Freetrade has a dedicated customer support team that is available to help you with any questions or issues you may have.
You can reach out to the team via email, live chat, or by submitting a support ticket on the Freetrade website.
The company has won several awards for its customer service, including the ‘Best Commission-Free Stockbroker’ award from Good Money Guide in 2021.10
What Are the Contribution Limits on a Freetrade SIPP?
The contribution limits on a Freetrade SIPP are the same as those on other UK pension products, meaning you will receive tax relief on contributions of up to £60,000 per tax year.
Freetrade SIPP Charges: What Will You Pay?
The fees and charges associated with a Freetrade SIPP include a monthly fee of £9,99.11
Here are the typical fees and charges associated with a Freetrade SIPP:
- Buying and selling shares is free.
- US stock transfer out (per holding) costs £17 (which is a fee levied by the Depository Trust and Clearing Corporation, or DTCC, in the United States).12
- There are no setup, exit, or trading fees.
- US and EU stock trades are subject to a 0,39% FX fee.
While Freetrade charges a monthly fee and specific transfer costs, its SIPP stands out with free share trading and no setup, exit, or hidden fees.
Freetrade SIPP Review: Who Is It Suited to?
The Freetrade SIPP may be suited to cost-conscious investors seeking low fees for share and ETF trading as the firm charges no commission on share trades.
It offers a straightforward and affordable way to manage your pension investments, and with no platform fees for basic accounts and low monthly fees for the SIPP, it’s designed to appeal to those who want a hands-off, low-cost pension solution.
Freetrade may not be the best fit for everyone, though; the platform’s investment options are somewhat limited compared to larger providers, and more advanced investors might find the lack of research tools a drawback.
Freetrade SIPP vs Other SIPPs: How Does It Compare?
The Freetrade SIPP compares well with other options in terms of low-cost trading based on a flat fee, as the percentage-based platform fees charged by other firms may be disadvantageous to investors with larger investment portfolios.
A quick look at some of Freetrade’s competitors in the sphere may help you form an idea of how different fees and charges stack up.
Hargreaves Lansdown:
- Annual SIPP charges on shares are 0,45% of your share value, up to a maximum of £200 a year.
- The holding charge for funds starts at 0,45% and tapers on a sliding scale.
- There are no dealing charges on funds (including unit trusts and OEICs).
- Trade fee: £11,95 for up to 9 trades, £8,95 for 10 to 19 trades; £5,95 for 20+ trades.13
- FX fee: 1% on the first £5,000, which then tapers to 0,25%.14
AJ Bell:
- SIPP charges: 0,25%, capped at £10 a month.
- Funds account charges: start at 0,25% and taper on a sliding scale.
- Trade fee: £3,50 (if you made 10 trades the previous month).16
- Per-deal charge on online international share trades: £5
- FX fee tiers: 0,75% (<£10,000), 0,50% (£10,001-£20,000), 0,25% (≥£20,000).17
Remember, fees are not the only metric on which to base a comparison of your different SIPP options; however, looking at the different charges can provide a useful springboard for the rest of your research.
Freetrade Reviews: What Users Are Saying
Many clients praise the ease of use of the platform, the low fees, and the customer service.
There are some negative reviews as well, but these tend to focus on specific issues or problems with individual accounts.
On the whole, Freetrade seems to have a positive reputation with its customers.
The company’s Trustpilot rating is 4 out of 5, based on 3,676 reviews.18
On Google Play, the Freetrade app has scored 3,9 out of 5 stars from over 19,800 reviews.19
Opening a Freetrade SIPP
Download the Freetrade app or access the web platform
Verify your identity (ID, proof of address, National Insurance number)
Answer a few financial questions to assess suitability
Fund your account and choose your investments
For more on SIPP requirements, see the SIPP Requirements Checklist.
Regulatory Details
The Financial Conduct Authority (FCA) authorises and regulates Freetrade SIPP (ref. number: 783189),20 and the firm is registered with Companies House (reg. number: 09797821).21
Maximising Your Freetrade SIPP for Retirement
A SIPP offers significant control, but maximising its benefits requires planning:
- Diversify Investments: Spread your money across different asset classes to manage risk and enhance returns.
- Review Regularly: Adjust your portfolio as your goals and market conditions change.
- Utilise Tax Allowances: Make the most of annual and lifetime allowances for tax relief.
- Monitor Fees: Keep an eye on all charges, including FX fees and any additional costs.
Common Mistakes to Avoid with App-Based SIPPs
App-based SIPPs like Freetrade are convenient, but mistakes can be costly. Here’s how to avoid common pitfalls:
- Neglecting Research: Don’t rely solely on app simplicity—conduct thorough research before investing.
- Overtrading: Excessive buying and selling can erode returns, even with commission-free trades.
- Ignoring Risk: Ensure your investments match your risk tolerance and retirement timeline.
- Lack of Professional Advice: If unsure, consult a regulated financial adviser.
Common Questions About Freetrade SIPPs
Low Costs:
Freetrade’s model minimizes trading costs, making it an attractive option for active traders who frequently buy and sell investments within their pension.
Real-time Trading:
The platform allows for real-time trading, giving active traders the agility to respond quickly to market movements.
Simple Fee Structure:
Compared to traditional pension providers, Freetrade’s straightforward fee structure without hidden costs is particularly appealing to those who value transparency.
Annual Fee:
Freetrade charges an annual fee for managing the SIPP, which is competitive and designed to be straightforward.
This fee is typically a flat rate or a percentage of the SIPP value, providing clarity and predictability for savers.
Trading Fees:
Freetrade is known for its commission-free trades on stocks and ETFs, which can significantly reduce costs for active traders.
However, certain transactions may incur fees, so it’s important to review the latest fee structure on their website.
Transfer Fees:
While Freetrade aims to keep costs low, transferring pensions from other providers may involve fees. These are usually outlined clearly by Freetrade.
Ease of Use:
Freetrade’s platform is designed with simplicity in mind, making it accessible even to those new to investing.
Its intuitive interface facilitates easy navigation and trading.
Mobile Accessibility:
The Freetrade app allows users to manage their SIPP on the go, offering the convenience of monitoring investments and making trades from anywhere.
Educational Resources:
Freetrade provides educational content to help users make informed investment decisions, enhancing the user-friendliness of the platform.
Consolidation:
Freetrade allows users to consolidate their existing pensions into their SIPP, simplifying the management of retirement savings.
Support:
The process is supported by Freetrade’s customer service, which assists users in navigating the transfer process to ensure a smooth transition.
Wide Range:
Freetrade offers a wide range of investment options, including stocks, ETFs, and investment trusts, allowing for diversified and tailored investment strategies within the SIPP.
Access to Global Markets:
Users have access to both UK and international markets, providing the opportunity to diversify investments geographically.
The Freetrade SIPP is particularly suited to those who prefer an active role in managing their retirement savings, offering low fees, a user-friendly platform, and a wide range of investment options.
Its appeal lies in combining the flexibility of a SIPP with the cost-effectiveness and simplicity for which Freetrade is known.
As with any financial product, it’s important to consider your individual financial situation and retirement goals.
Consulting with a financial advisor can also provide personalized guidance to ensure that the Freetrade SIPP aligns with your long-term retirement planning strategy.
You can access your Freetrade SIPP funds before retirement age as long as you are over 55.
Yes, Freetrade SIPP is regulated and offers security measures to safeguard your investments.
All investments carry risk and your capital is not guaranteed.
Yes, you can transfer existing pensions into a Freetrade SIPP for consolidation.
Opening a Freetrade SIPP usually takes a few days once your documents are verified.
Your Freetrade SIPP can be passed to beneficiaries, usually tax-free if you die before age 75.15
In Conclusion
When deciding on the best SIPP product for your needs, ensure your investment goals align with Freetrade's offerings to avoid a potential nosedive.
A quick word with a qualified financial adviser can tip the scales between retirement bliss and a letdown.
If you have checked all the right boxes, a Freetrade SIPP could very well be your next big financial move.
Read More: Evestor SIPP Review
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