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.
Beginners building a habit, and first-time buyers using the Lifetime ISA.
| Fee | Freetrade | Moneybox |
|---|---|---|
| Platform fee | £0 on Basic; Standard £4.99/month; Plus £9.99/month (annual billing) | £1/month subscription plus 0.45% platform fee |
| Share dealing | £0 commission | US stocks available, 0.45% FX fee |
| Fund dealing | ETFs only, £0 commission | Free (fund fees apply) |
| FX fee | 0.99% Basic, 0.59% Standard, 0.39% Plus | 0.45% on US stocks |
| Stocks & Shares ISA | Included on all plans | Subscription plus 0.45% applies |
| SIPP | Included on all plans | 0.45% platform fee (0.15% above £100k), no subscription |
| Withdrawals | Free | Free |
| Minimum to start | £2 | £1 |
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 TrustpilotUsers love the round-ups, the goal-based design and how painless it makes starting. 93% of customers surveyed in 2026 would recommend it.
The combined £1/month plus 0.45% is repeatedly flagged as expensive for small balances.
Read Moneybox 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%.
Moneybox is designed for getting started. Round-ups, weekly deposits and simple starter portfolios remove the friction that stops most people investing, and its Lifetime ISA is one of the most popular routes to a first home deposit.
The convenience has a price: £1 a month plus 0.45% is one of the higher fee stacks here once your balance grows. It is a great first platform, and many users graduate to cheaper ones later.
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.