Both are FCA regulated and FSCS protected. The real differences are fees, investment range and how each platform feels to use. Here is the honest comparison.
Fees verified July 2026. Capital at risk. Information, not financial advice.
Beginners who want a simple app and are happy with shares and ETFs.
Investors who want funds and shares on one platform without paying Hargreaves Lansdown prices.
| Fee | Freetrade | AJ Bell |
|---|---|---|
| Platform fee | £0 on Basic; Standard £4.99/month; Plus £9.99/month (annual billing) | 0.25% on funds up to £250k (tiered lower above); shares capped at £3.50/month in an ISA and £10/month in a SIPP |
| Share dealing | £0 commission | £5.00 per trade |
| Fund dealing | ETFs only, £0 commission | £1.50 per trade |
| FX fee | 0.99% Basic, 0.59% Standard, 0.39% Plus | 0.75% on the first £10k, tiered lower above |
| Stocks & Shares ISA | Included on all plans | Platform fee applies, no separate ISA charge |
| SIPP | Included on all plans | Platform fee applies, capped at £120/year for shares |
| Withdrawals | Free | Free |
| Minimum to start | £2 | £25/month or £500 lump sum |
Around seven in ten reviewers rate it excellent, citing the clean app and helpful customer service.
Critical reviews focus on the 0.99% FX fee on the free plan and features being moved behind subscriptions.
Read Freetrade reviews on TrustpilotReviewers repeatedly mention that the platform is easy to use and communication is clear. AJ Bell has been Which? Recommended for eight years running.
Occasional gripes about transfer times and the dealing charge compared with app-only rivals.
Read AJ Bell reviews on TrustpilotFreetrade helped bring commission-free investing to the UK and keeps a genuinely free tier that now includes an ISA and a SIPP. The app is one of the simplest ways to buy your first share.
The catch is the FX fee. On the free plan you pay 0.99% every time you buy or sell a US stock, which adds up quickly. If most of your money goes into US shares, either upgrade to a paid plan for lower FX fees or compare against Trading 212's flat 0.15%.
AJ Bell sits in the sweet spot between cheap app-only brokers and expensive full-service platforms. You get funds, shares, ETFs, a well-regarded SIPP and a Lifetime ISA, with caps that keep costs sensible for share investors.
It suits people who want one account for everything, particularly ETF investors who benefit from the £3.50 monthly cap in an ISA. Fund-heavy portfolios above six figures should compare the 0.25% fee against a flat-fee platform like Interactive Investor.
A 0.2% fee difference is worth optimising. Knowing whether you are saving enough in the first place is worth far more. Delphina models your pensions, ISAs and investments and tells you where you actually stand.