Open and upcoming IPOs
UK investors only. Capital at risk. This is for information and is not personal advice.
What to weigh up before you apply
Every IPO has its own risks, set out in its prospectus, as well as a shared set of risks and considerations that you should be aware of before choosing to apply for any IPO.
This is not financial advice. Always do your own research.
The prospectus has the full picture
The prospectus is the official document for the offer. It covers the company's business, its finances, and the specific risks of investing. Base your decision on it and any supplementary information, rather than on news coverage.
A fair price can be hard to judge
Companies coming to market often have a short track record. In many IPOs, the company sets the final price after applications close, so you could pay more than you expected.
Prices can move fast once trading starts
Shares can rise or fall sharply in the first days of trading. The value of your investment can go down as well as up, and you could get back less than you put in.
Dividends aren't guaranteed
A newly listed company may not pay dividends. If it does, it can change or stop them at any time.
Plans can change
A company can announce an IPO, then delay or cancel it before its shares start trading.
Why invest with Freetrade?
- Apply for IPOs in the app
- Trade commission-free
- Choose from 9,000+ investment choices
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IPO FAQs
How will I find out about upcoming IPOs?
We’ll notify you by email and in your app when an IPO is available. Upcoming IPOs will also appear in Discover and search.
How do I apply for an IPO on Freetrade?
When an IPO is coming up, we’ll let you know by email and in your app. You can also find it through search and Discover. To apply, open the instrument page and follow the steps. You’ll be asked to accept a disclaimer and confirm an IPO attestation before you apply.
Which accounts can I use to apply?
You can usually apply from your GIA, ISA, SIPP, or Junior ISA, though this will vary by IPO.
Will I know the final price before I commit?
No. You’ll apply before the final price is confirmed. The price you see once shares start trading may also be different from the IPO price.
How are shares allocated?
Each company decides how its shares are allocated, and the approach can vary from one IPO to the next. Freetrade isn’t involved in this decision, so we can’t guarantee how many shares you’ll receive, or whether you’ll receive any at all.
Are there any fees? What about FX fees and stamp duty?
You won’t pay us a commission to apply for an IPO. If the IPO is in a currency other than GBP, you’ll pay the usual FX fee, based on your plan. We also hold a small FX reserve while your application is pending, to cover any currency movements.
You won’t pay stamp duty on shares you get through an IPO. For UK companies that are newly listed on the main market, you also won’t pay stamp duty when you buy their shares in the first three years after listing.
Is Freetrade recommending IPOs?
No. We don’t give investment advice or recommend specific IPOs. If you’re unsure whether investing is right for you, consider speaking to a financial adviser.
Read up on IPOs
Guides and key terms to help you make sense of an offer.
Capital at risk. This information is not personal advice. IPO and share offer applications are subject to availability and may be oversubscribed, so you may not receive the full allocation you applied for, or any allocation at all. Read the prospectus and any supplementary information for a specific IPO before deciding whether to apply.




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