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.
People who want their investments chosen and managed for them, including in a Lifetime ISA or Junior ISA, and who prefer one percentage fee to dealing 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 TrustpilotWe have not verified current review themes, so read recent reviews on independent sites to see what customers say since the Nutmeg brand became J.P. Morgan Personal Investing in November 2025.
For problems customers report, check the most recent reviews, as older ones may refer to the service under the Nutmeg name.
Read J.P. Morgan Personal Investing reviews on Trustpilot| Fee | Freetrade | J.P. Morgan Personal Investing |
|---|---|---|
| Platform fee | £0 on Basic; Standard £4.99/month; Plus £9.99/month (annual billing) | Managed styles: 0.75% a year on the first £100k, 0.35% above. Fixed Allocation: 0.45%, then 0.25%. Inc. VAT; fund costs extra |
| Share dealing | £0 commission | No dealing charges (managed service) |
| Fund dealing | Free; FX fee applies on non-sterling trades | No trading charges; underlying ETF costs and market spread apply |
| FX fee | 0.99% Basic, 0.59% Standard, 0.39% Plus | Not applicable: managed portfolios |
| Stocks & Shares ISA | Included on all plans | Stocks & Shares ISA (not flexible), Lifetime ISA, Junior ISA. No cash ISA |
| SIPP | Included on all plans | Yes: personal pension (SIPP), from £500 |
| Withdrawals | Free | No exit charge; in-specie transfers out £20 per line of stock |
| Minimum to start | £2 | £500 (ISA, pension, GIA); £100 (Lifetime ISA, Junior ISA); £10,000 (Income) |
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%.
J.P. Morgan Personal Investing is what Nutmeg became. J.P. Morgan bought Nutmeg in 2021 and retired the Nutmeg brand on 3 November 2025. The service works the same way: you choose an investment style, and the portfolio is built and managed for you. It offers a Stocks & Shares ISA, Lifetime ISA, Junior ISA, personal pension (SIPP) and general investment account.
You pay one service fee instead of dealing charges: 0.75% a year on the first £100,000 in the managed styles and 0.35% above that, or 0.45% then 0.25% for Fixed Allocation. On £20,000 that is £150 a year before fund costs. The trade-off is cost against effort: you pay more than a self-directed platform's fee, and in return the portfolio is chosen and rebalanced for you.
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 managed styles: 0.75% a year on the first £100k, 0.35% above. Fixed Allocation: 0.45%, then 0.25%. Inc. VAT; fund costs extra at J.P. Morgan Personal Investing. On dealing, Freetrade charges £0 commission for shares and free; FX fee applies on non-sterling trades for funds, while J.P. Morgan Personal Investing charges no dealing charges (managed service) for shares and no trading charges; underlying ETF costs and market spread apply for funds. Fees verified July 2026.
Freetrade is best for beginners who want a simple app and are happy with shares and ETFs. J.P. Morgan Personal Investing is best for people who want their investments chosen and managed for them, including in a Lifetime ISA or Junior ISA, and who prefer one percentage fee to dealing charges. Both are FCA regulated and covered by the FSCS.
On Freetrade's ISA: Included on all plans. On J.P. Morgan Personal Investing's ISA: Stocks & Shares ISA (not flexible), Lifetime ISA, Junior ISA. No cash ISA. Freetrade offers a flexible ISA and J.P. Morgan Personal Investing does not. Minimums are £2 at Freetrade and £500 (ISA, pension, GIA); £100 (Lifetime ISA, Junior ISA); £10,000 (Income) at J.P. Morgan Personal Investing.
Freetrade offers a SIPP (included on all plans). J.P. Morgan Personal Investing offers a SIPP (yes: personal pension (SIPP), from £500).
Freetrade scores 4.2 out of 5 on Trustpilot (Great) from over 7,000 reviews. J.P. Morgan Personal Investing scores 4.1 out of 5 (Great) from 2,718 reviews, checked 9 October 2026. Critical reviews focus on the 0.99% FX fee on the free plan and features being moved behind subscriptions. For problems customers report, check the most recent reviews, as older ones may refer to the service under the Nutmeg name.
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 J.P. Morgan Personal Investing charges no exit charge; in-specie transfers out £20 per line of stock. 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 J.P. Morgan Personal Investing, 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.