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.
Beginners building a habit, and first-time buyers using the Lifetime ISA.
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 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 £1 monthly subscription on top of the platform fee is often flagged as expensive for balances under £5,000.
Read Moneybox reviews on Trustpilot| Fee | Freetrade | Moneybox |
|---|---|---|
| Platform fee | £0 on Basic; Standard £4.99/month; Plus £9.99/month (annual billing) | £1/month subscription (waived at £5,000+) plus 0.15% to 0.45% platform fee |
| Share dealing | £0 commission | US stocks available, 0.45% FX fee |
| Fund dealing | Free; FX fee applies on non-sterling trades | 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 0.15% on Moneybox funds or 0.45% on other funds |
| SIPP | Included on all plans | 0.45% on the first £100k then 0.15% (other funds); 0.15% capped at £150 a year (Moneybox funds); no subscription |
| Withdrawals | Free | Free |
| Minimum to start | £2 | £1 |
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 Moneybox. 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%.
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 cost on small balances: £1 a month plus up to 0.45% is one of the higher fee stacks here below £5,000 in non-Moneybox funds. The subscription drops away at £5,000, and Moneybox's own funds carry 0.15% rather than 0.45%, so the total depends on your pot size and fund choice.
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 £1/month subscription (waived at £5,000+) plus 0.15% to 0.45% platform fee at Moneybox. On dealing, Freetrade charges £0 commission for shares and free; FX fee applies on non-sterling trades for funds, while Moneybox charges US stocks available, 0.45% FX fee for shares and free (fund fees apply) for funds. Fees verified July 2026.
Freetrade is best for beginners who want a simple app and are happy with shares and ETFs. Moneybox is best for beginners building a habit, and first-time buyers using the Lifetime ISA. Both are FCA regulated and covered by the FSCS.
On Freetrade's ISA: Included on all plans. On Moneybox's ISA: Subscription plus 0.15% on Moneybox funds or 0.45% on other funds. Freetrade offers a flexible ISA and Moneybox does not. Minimums are £2 at Freetrade and £1 at Moneybox.
Freetrade offers a SIPP (included on all plans). Moneybox does not offer a SIPP.
Freetrade scores 4.2 out of 5 on Trustpilot (Great) from over 7,000 reviews. Moneybox scores 4.4 out of 5 (Excellent) from around 4,800 reviews. Critical reviews focus on the 0.99% FX fee on the free plan and features being moved behind subscriptions. The £1 monthly subscription on top of the platform fee is often flagged as expensive for balances under £5,000.
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 Moneybox 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 Moneybox, 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.
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