Both are FCA-regulated and FSCS-protected. The real difference is fees, account types and how each platform feels to use. Verified against each provider’s published charges.
Fees verified July 2026. Capital at risk. Information, not financial advice.
Beginners who want a simple app and are happy with shares and ETFs.
Portfolios above roughly £60k where a flat fee beats percentage charges.
Tick what you need. No account, no email. The answer is on this page.
Tick what you need above and we'll tell you which of the two covers it.
Account availability verified July 2026. Capital at risk. Information, not financial advice.
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 TrustpilotLong-standing customers value the flat fee and the breadth of investments.
The 1.5% headline FX fee and occasional platform outages are the recurring complaints.
Read Interactive Investor reviews on Trustpilot| Fee | Freetrade | Interactive Investor |
|---|---|---|
| Platform fee | £0 on Basic; Standard £4.99/month; Plus £9.99/month (annual billing) | Core £5.99/month (up to £100k); Plus £14.99/month (no limit); Premium £39.99/month |
| Share dealing | £0 commission | £3.99 per trade (£2.99 on Premium) |
| Fund dealing | Free; FX fee applies on non-sterling trades | £3.99 per trade (£2.99 on Premium) |
| FX fee | 0.99% Basic, 0.59% Standard, 0.39% Plus | 1.5% on the first £25k, tiered lower above |
| Stocks & Shares ISA | Included on all plans | Included in the monthly plan |
| SIPP | Included on all plans | Included in the monthly plan |
| Withdrawals | Free | Free |
| Minimum to start | £2 | No minimum (£25/month for regular investing) |
A 0.25% yearly fee gap sounds small. On £50,000 over 20 years it is about £5,900 (illustrative). Add your ISA and pension balances to Delphina yourself and see what your charges cost by retirement and whether you're on track.
See what my fees costIllustrative: £50,000, 5% a year growth before charges, 0.25% vs 0.50% a year in charges, no further contributions. Not a recommendation of Freetrade or Interactive Investor. Delphina is guidance, not financial advice.
Freetrade helped bring commission-free investing to the UK and keeps a 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%.
Interactive Investor charges a flat monthly subscription instead of a percentage. On a £200,000 portfolio, £5.99 a month is a fraction of what percentage-fee platforms charge, which is why ii keeps winning larger DIY investors.
The equation flips for small pots: £71.88 a year on £10,000 is 0.7%, more than almost any rival. Work out your portfolio size first, then decide.
Both charge a fixed subscription rather than a percentage of what you hold. Freetrade charges £0 commission on shares, ETFs and investment trusts on every plan. ii charges £3.99 a trade on Core and Plus and £2.99 on Premium, with one free trade a month on Plus and 10 on Premium. Regular investing is free at ii.
On £50,000 in shares and ETFs in an ISA, the annual plan cost is £0 on Freetrade Basic, £59.88 on Standard and £119.88 on Plus, against £71.88 on ii Core.
FX is where Freetrade's plans differ most. The fee on non-sterling trades is 0.99% on Basic, 0.59% on Standard and 0.39% on Plus. Buying £1,000 of US shares costs £9.90 in FX on Basic, £5.90 on Standard and £3.90 on Plus. We have not listed ii's FX rate here, so check it before comparing on overseas shares.
Funds (OEICs) are now available on every Freetrade plan, so it is no longer limited to shares, ETFs and investment trusts. Both offer a Stocks & Shares ISA and a SIPP. Freetrade includes both on all plans, and ii includes the SIPP in its plan price. ii also offers a Junior ISA.
Freetrade tends to suit people who want to start at £0 and mostly buy shares, ETFs and investment trusts. ii tends to suit people who want a Junior ISA alongside their own accounts, or who invest a set amount each month through free regular investing. If you have seen ii described as having a quarterly fee or a £4.99 plan, that is out of date: ii changed its plans in February 2026.
It depends on what you hold and how often you trade. Freetrade's platform fee is £0 on Basic; Standard £4.99/month; Plus £9.99/month (annual billing), against core £5.99/month (up to £100k); Plus £14.99/month (no limit); Premium £39.99/month at Interactive Investor. On dealing, Freetrade charges £0 commission for shares and free; FX fee applies on non-sterling trades for funds, while Interactive Investor charges £3.99 per trade (£2.99 on Premium) for shares and £3.99 per trade (£2.99 on Premium) for funds. Fees verified July 2026.
Freetrade is best for beginners who want a simple app and are happy with shares and ETFs. Interactive Investor is best for portfolios above roughly £60k where a flat fee beats percentage charges. Both are FCA regulated and covered by the FSCS.
On Freetrade's ISA: Included on all plans. On Interactive Investor's ISA: Included in the monthly plan. Freetrade offers a flexible ISA and Interactive Investor does not. Minimums are £2 at Freetrade and No minimum (£25/month for regular investing) at Interactive Investor.
Freetrade offers a SIPP (included on all plans). Interactive Investor offers a SIPP (included in the monthly plan).
Freetrade scores 4.2 out of 5 on Trustpilot (Great) from over 7,000 reviews. Interactive Investor scores 4.6 out of 5 (Excellent) from over 28,000 reviews. Critical reviews focus on the 0.99% FX fee on the free plan and features being moved behind subscriptions. The 1.5% headline FX fee and occasional platform outages are the recurring complaints.
Yes. UK platforms accept ISA and SIPP transfers in, and you start the transfer with the receiving provider rather than the one you are leaving. Freetrade charges free on withdrawals and Interactive Investor charges free. Transfer as cash and you are out of the market while it settles; transfer in specie and you keep your holdings but it takes longer.
Freetrade or Interactive Investor, the account is the easy part. What decides when you can retire is how much goes in and for how long. Delphina works that out from what you already hold and what you pay in each month.
Free to check. No card required. Takes about two minutes.