Charles Schwab vs Freetrade

Charles Schwab or Freetrade – which is better for UK traders 2024? Compare Charles Schwab and Freetrade in this detailed breakdown of their platforms, features and fees.

Charles Schwab vs Freetrade Comparison Table 2024
Charles Schwab Freetrade
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2.8
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3.5
Charles Schwab is ranked #110 among UK brokers. Freetrade is ranked #59 among UK brokers.
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Charles Schwab is a large US investment broker offering a massive range of stocks, ETFs and equity derivatives in a variety of savings and investment accounts. The trustworthy brand has been offering financial services for 45+ years with over 35 million brokerage accounts and $870+ billion in assets under management. Charles Schwab is also regulated by top-tier watchdogs including the SEC and FCA. Freetrade is a London-headquartered investing platform that offers zero-commission trading on thousands of UK, European and US stocks and ETFs through a beginner-friendly platform. Open a standard investment account, a self-invested pension or a stocks and shares ISA and start building a portfolio from as little as £2.
Pros
  • Strong investment offerings covering stocks, mutual funds, options, bonds and cryptocurrency
  • Powerful trading software with real-time quotes, fundamental research and investment screeners
  • Responsive customer support team available 24/7 via live chat or telephone
  • Competitive trading fees with no commissions on stocks and ETFs
  • Fractional shares on the S&P 500 with a $5 minimum investment
  • Thematic investing categories and ESG compliant portfolios
  • Strong regulatory oversight from the US SEC and UK FCA
  • No account minimums for individual brokerage accounts
  • High-quality educational resources for new investors
  • FCA-regulated brand with FSCS cover for investors
  • Thousands of US and UK stocks and hundreds of ETFs to choose from
  • Very competitive pricing vs competitors with low fees and zero commissions
  • Earn interest on uninvested cash with competitive rates
  • Transfer/move ISAs from other accounts
  • News and blog feed updated regularly
  • Built-in customer support via live chat
  • Fast revenue withdrawals
  • Dividends on stocks
Cons
  • Only US markets available (except 12 foreign markets on the Global Account)
  • High minimum investment of $5000 to use robo-advisors
  • Limited funding methods with no e-wallets
  • No email support
  • Competitors have larger selection of assets
  • Trading platform lacks deep analytical tools
  • Less suitable for active, high-volume traders
  • Many countries not accepted
  • No leveraged trading
  • No demo account
Awards
  • Best Online Trading Platform 2020 - British Bank Awards
  • Best Share Trading Platform 2019 - British Bank Awards
  • People’s Choice 2019 - Good Money Guide
  • Best New Investment Service 2019 - Consumer Investment Awards
FCA Regulated
No

List of FCA Regulated Brokers

Yes
Instruments
Stocks, ETFs, Cryptos, Futures, Options, Commodities, Bonds Stocks, ETFs
Demo Account
Yes No
Minimum Deposit
$0 $0
Payment Methods
Minimum Trade
$1 £2
Regulator
SEC, FINRA, FCA1 FCA
Mobile Apps
iOS & Android Yes
iOS App Rating
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4.3
Android App Rating
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4.3
Margin Trading
No No
MetaTrader 4
No No
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
Yes No
Robo Advisor
Yes No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Auto Trading
Yes
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes No
Custodial Account
Yes No
Guaranteed Stop Loss
No No
Islamic Account
No No
Account Currencies
  • USD
Commodities
  • Soybeans
  • Lean Hogs
Cryptocurrency
Charles Schwab supports indirect crypto trading through digital coin trusts and crypto-related stocks. You can get exposure to popular digital currencies such as Bitcoin, Ripple and Ethereum.
Spread
Floating
Coins
  • GBTC
  • BITW
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Charles Schwab Freetrade
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