Each tax year the UK government sets an ISA allowance. It’s the total amount of money you can put into ISAs each year.
The ISA allowance for the 2021/22 tax year (which ends on 5th April 2022) is £20,000.
The Freetrade stocks and shares ISA has a flat monthly fee, rather than charging you a percentage fee that grows with your investments.
This way you can focus on growing your savings, not your fees.
Disclaimer: Comparisons to other providers are based on published costs on their websites as of 24 August 2021, for a portfolio size of £5,000 and trades on shares and ETFs within a stocks and shares ISA.
ISA charges 0.45% of the value of shares in your account, capped at £45/year. Fee per trade reduces depending on the number of trades in the previous month to £8.95 per trade for 10-19 trades, and £5.95 for 20 or more trades. FX fee reduces to 0.75% after the first trade of £5,000, 0.5% for the next £10,000 and to 0.25% for over £20,000 value of trades.
One free trade per month, then £7.99 per trade. FX fee reduces on a tiered scale. £25,000 - £49,999 is 1.25%, £50,000 - £99,999.99 is 1%, £100,000 - £599,999 is 0.5%, and £600,000 - £999,999.99 is 0.25%
ISA charges 0.25% of the value of the shares in your account, max £3.50 per month. Each trade of shares and ETFs is £9.95. Transferring out the underlying assets to another provider is £25 per holding, no charge for cash transfer. Fee per trade reduces to £4.95 when 10 or more share deals in the previous month. FX rate is 1% for the first £10,000, 0.75% for the next £10,000, 0.5% for the next £10,000 and is 0.25% for values over £30,000.
Use our calculator to compare Freetrade’s charges against other investment ISA providers.
Make your savings work harder. Download the app and open your ISA account in minutes.
Grow your savings, not your fees. Find out how to transfer your ISA by following the link below.
Once you’ve opened your ISA and set up your debit card details, your £3 monthly ISA subscription will be taken from your bank account on the 1st of each month. If you are a Freetrade Plus member, your ISA is free.
Your first £3 subscription payment will be charged on the 1st of the following month.
No, we don’t charge you anything for transferring your stocks and shares ISA to Freetrade. However, your current provider may charge, so please check directly with them.
If you cancel your Plus subscription, your monthly ISA payment will continue at £3 per month as long as you have an open ISA.
Unfunded ISAs will still be subject to the monthly fee. If you’d like to close your ISA, head to your profile area in-app and ‘Manage my ISA’.
You can have more than one ISA. Which means you could have a Cash ISA and a Stocks and Shares ISA at the same time. You could also have a few stocks and shares ISAs that you have built up over the years with different providers.
There is a catch though, 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 in the same tax year. But you can’t top up two stocks and shares ISAs in the same tax year.
For more information, take a look at our guide to stocks and shares ISAs.