Short answer
Which is cheaper?
For a GBP-only ETF or share ISA, both Trading 212 and Freetrade Basic model at £0 annual wrapper/dealing cost. With £500/month FX, Trading 212 models at £9/year versus Freetrade Basic at £59.40/year, Standard at £95.28, and Plus at £143.28.
- GBP-only ETFs
- Both can model at £0 before product-level fund costs and spreads.
- Regular FX
- Trading 212 is materially cheaper on the modelled FX rates.
- Funds
- Freetrade has open-ended funds on Standard and Plus; Trading 212 is not like-for-like.
Fee model
Platform, dealing and FX fees
| Fee area | Trading 212 | Freetrade |
|---|---|---|
| Platform/account fee | £0 | Basic £0; Standard £59.88/year; Plus £119.88/year. |
| Dealing fee | £0 | £0 |
| FX fee | 0.15% on non-GBP trades. | Basic 0.99%; Standard 0.59%; Plus 0.39%. |
| Investment range | Shares and ETFs, no open-ended funds. | Basic: shares and ETFs. Standard/Plus: funds, shares and ETFs. |
| Flexible ISA | Yes | Yes |
Worked examples
Calculator-backed scenarios
- £20,000 ETF ISA, no FX: Trading 212 £0; Freetrade Basic £0; Freetrade Standard £59.88; Freetrade Plus £119.88.
- £20,000 fund ISA, no FX: Trading 212 is not a like-for-like fund platform. Freetrade fund access starts at Standard in this model, so Basic is excluded.
- £20,000 ETF ISA, £500/month FX: Trading 212 £9; Freetrade Basic £59.40; Standard £95.28; Plus £143.28.
These examples use the same fee assumptions as the main ISA fees calculator. They exclude fund ongoing charges, stamp duty, bid/offer spread, investment performance, and temporary promotions.
Important caveats
Before switching provider
Provider fees can change, and terms can vary by product, plan, transfer route, cash interest policy, and promotion. Verify the provider’s current terms before opening or transferring an ISA.
This page is factual educational content, not personal financial advice or a recommendation to buy, sell, transfer, or choose a specific investment platform.
Sources