SIPP Charges Schedule

Version 6.0, June 2022

Single monthly subscription fee
As a customer on the Freetrade Plus plan, you’ll pay a monthly subscription fee of £11.99, which includes access to the Freetrade SIPP at no extra cost. There are no other fees for the Freetrade SIPP except our standard investment related fees such as SDRT and FX (both as defined below) which are determined on the instrument you choose to invest in. Further information about our full investment range can be found in our Investment Brochure.

When you initiate a transaction through our Services, all fees that we will charge in connection with that transaction, as well as associated costs (such as taxes, stamp duty and other duties, as well as levies and charges) related to that transaction, will be displayed to you so that you can see the total cost to you of that transaction. You hereby irrevocably authorise us to deduct all fees, costs, taxes and levies (as well as the cost of the Securities in question, when you initiate a buy transaction) from your Available Funds, at the time that you commit to the transaction.

All fees are inclusive of Value Added Tax (VAT) where applicable.

The amount of our fees, as well as the nature of our fees, may change from time to time.

Stamp Duty
Stamp Duty Reserve Tax (“SDRT”) is a tax the UK Government applies to the purchase of certain assets, including stocks. You'll pay 0.5% stamp duty of the value of the purchase (but not the sale) of UK stocks at the time of purchasing the stock. But you won’t pay it on UK-listed ETFs, stocks listed on the AIM or US exchanges and other non-UK assets.

FX fees
Exchange rate + 0.39% foreign exchange (FX) fee on our Plus plan. An FX fee is a surcharge on purchases in a different currency or that pass through a foreign bank.

Commission-free dealing
Investing should be commission-free, and we’re committed to providing unlimited instant dealing (during market opening hours) to our customers, forever. Other charges, like stamp duty and FX (foreign exchange) fees may apply.

Fractional shares
We do not charge for investment in fractional shares. You can invest from £2 and own a piece of even the most expensive US stocks, helping you build a diversified portfolio.

Interest on Available Funds
Your Available Funds will not attract any interest, even if they are in credit. You acknowledge that we may receive interest on all of our clients’ funds held by our Custodians, and hereby waive your right to claim payment of any part of such interest.

Consolidate your pension
If you hold a SIPP with another provider, we will not charge a fee to transfer it to Freetrade. If you hold any UK or US securities with another provider, you can transfer them to Freetrade as stocks and stay invested, as long as they’re stocks that we offer. At the moment, any non-UK and non-US securities, or any fractions of shares, can only be transferred as cash. With cash transfers, you are not invested so may miss out on market ups and downs during your transfer. Learn more about our pension transfers here. 

Transferring out
‍There is no fee to transfer out UK securities or cash. Transferring out US securities will incur a cost of £17 per holding. We charge this amount to cover the fee our service provider charges us.

Exit fee and accessibility
We do not charge for transfers out nor an exit fee if your Freetrade SIPP is closed following transfer or death. You cannot normally access the pot of money you have built up in your SIPP until you reach the minimum pension age (which is 55 years old at present and rising to 57 years old from 6 April 2028) but currently you will have to transfer your pension fund to another provider when you want to take your money out or convert it to an income.

SIPP is a pension product designed for people who want to make their own investment decisions. You can normally only access the money from age 55 (57 from 2028). Before transferring a pension please ensure that you will not lose valuable guarantees or incur excessive transfer penalties.

Version 6.0, June 2022
Freetrade Limited, 10 Devonshire Square, London, EC2M 4YP, United Kingdom. Registered in England and Wales No.  9797821. Freetrade is a trading name of Freetrade Limited, which is a member firm of the London Stock Exchange and is  authorised and regulated by the Financial Conduct Authority.