If this is the first stocks and shares ISA you’ve opened this tax year (ie. since April 6th 2022), you can open your Freetrade ISA straightaway.
If you have already paid into a stocks and shares ISA since April 6th 2022 with a different provider, you will need to start by transferring your ISA to Freetrade.
You can open a stocks and shares ISA with Freetrade with just £2.
Yes, you can have more than one ISA. This means you could have a Cash ISA and a stocks and shares ISA. You could also have a few stocks and shares ISAs that have built up over the years with different providers.
The catch is, that each tax year you can only open or top up one of each type of ISA account.
So for example, you can top up one stocks and shares ISA and one Cash ISA, and your yearly allowance will be split across these accounts. You can’t, however, top up two stocks and shares ISAs in the same tax year.
For more information, take a look at our guide to what a stocks and shares ISA is and how it works.
No, you can only open a stocks and shares ISA for yourself.