Freedom24 Review:
Freedom24 is a reliable EU broker providing direct access to a wide variety of stocks, ETFs, and options from the USA, Europe, and Asia. The broker is well-known for its exclusive savings plans, offering up to 8,8% p.a. income on the client’s balance with an option of daily interest accrual. Freedom24 is a part of NASDAQ-listed Freedom Holding Corp., established in 2008. As a publicly traded company, the broker meets strict transparency standards. Freedom24 is regulated by the MiFID II, a framework that ensures the highest investor protection level possible.
Recommended to:
Freedom24 is recommended for retail investors interested in diversifying their portfolios with stocks, ETFs, bonds, and futures while getting high interest on non-invested cash. It is also an excellent choice for new investors, as Freedom24 offers Freedom Academy, which includes courses designed to help newcomers develop essential trading skills and knowledge. At Freedom24, customers looking for investment recommendations can get free weekly investment ideas from their Bloomberg-awarded analysts with a 16% average return
Pros
- Low Commissions on Stocks and ETFs from just $0.02 per share
- Competitive Interest Rates on Cash Balance
- Advanced trading tools and analytics
- Easy account opening process
Cons
- Complex Fee Structure
- High Currency Conversion Fees
- Withdrawal Fees
Review’s Keypoints
Country of regulation
Cyprus
Minimum deposit
$0
Time to open an account
1 day
Trading fees class
Low
Deposit with bank card
Yes
Number of base currencies supported
2
Products offered
Stocks
Bonds
ETF's
Options
Futures
High-interest savings plans
Depositing with electronic wallet
Not available
Demo account provided
Yes
Fees
Freedom24 charges commissions for trading stocks and ETFs, with a standard per-share fee and a minimum order fee. Differentiating between order fees and contract fees, options trading incurs a specific per-contract fee. Additionally, the platform offers various service plans that may affect the overall cost based on the user’s trading volume and preferences, with commissions being one of the lowest in Europe.
Pros
- No inactivity fees
- Low Commissions on Stock and ETF Trading
Cons
- Withdrawal fee
Account
Freedom24 operates across Europe and is available to the majority of European customers. The account opening process is fully digital, ensuring a seamless experience for users. Additionally, Freedom24 offers a demo account, enabling users to familiarize themselves with the platform before opening a real account. Freedom24 also features a remunerated account (D-account), which offers attractive interest rates of 3.58% on account balances with daily interest accrual, providing additional value to the clients. Freedom24 delivers support in 17 languages in has representative offices in such countries as Italy, France, Poland, the Netherlands, and others.
Individual
Individual
Corporate
Corporate
Joint
Joint
Click on the card to see details
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01Register on their website
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02Enter your phone number and receive an SMS with the app link
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03Download the app and enter your credentials
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04Access demo account
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05Provide verification document to open a real acc
Transfers
Freedom24 offers seamless and secure transfers for both deposits and withdrawals. Deposits via bank transfer are free, while deposits via credit/debit card bear a 2% fee. Withdrawals can be made via bank transfer or credit/debit card, with a fee of 7 EUR per transaction. The withdrawal process is straightforward and typically takes 1-3 business days.
Pros
- No minimum deposit
- Bank transfer deposits are free
- Easy & straightforward withdrawal process
Cons
- Limited base currency (EUR, USD)
- Deposits via credit/debit card incur a 2% fee
Trading Platforms
Web Trading Platform
The Freedom24 web trading platform offers comprehensive analytics tools and supports 19 languages. It features real-time market data, customizable charts, and various order types such as market, limit, and stop orders. Additionally, it supports margin trading and includes tools for technical analysis, making it suitable for both novice and experienced traders
Mobile Trading Platform
Freedom24 offers a comprehensive mobile trading platform designed for convenience and flexibility. Available on iOS, Android, and Huawei devices, the app allows users to trade on the go with real-time market access and user-friendly interfaces. Key features include market depth, tick charts, technical indicators, and the ability to place orders directly from charts. The platform supports both demo and real trading accounts, enabling users to practice trading without risking real money.
Desktop Trading Platform
Not Available
Offering
Tools
Freedom24 offers comprehensive educational tools, including investment recommendations, financial forecasts, and expert advice, to help users improve their trading skills and make informed decisions. The Freedom24 trading platform also features a variety of powerful tools to enhance the trading experience. Notably, Freedom Academy offers four courses designed for newcomer investors, providing essential knowledge and skills for successful trading. Here are some of the key tools available:
Trading Ideas
The "Investment Ideas" feature on the Freedom24 platform offers curated investment opportunities based on comprehensive analysis by their team of experts. This feature includes recommendations for stocks, ETFs, and other financial instruments, highlighting their growth potential and providing detailed insights into each suggestion. Users can explore these investment ideas sorted by industry, profit potential, and dividends, making it easier to align with their investment strategies and risk preferences
Comprehensive Analytics Tools
The Freedom24 trading platform includes a comprehensive suite of tools for detailed market analysis. These encompass a wide range of technical analysis tools, such as market depth, tick charts, and financial indicators, which enable traders to analyze market trends thoroughly. Additionally, the platform provides in-depth market analysis from Bloomberg-awarded experts, helping traders make well-informed decisions based on proprietary insights
Customizable Charts
The platform includes advanced charting capabilities, allowing users to customize charts with various technical indicators and drawing tools for thorough technical analysis.
Regulation
Freedom24 is a transparent and reliable stock broker operating under the MiFID II regulatory framework, which ensures the highest level of investor protection. Customer assets are safeguarded by the Investor Compensation Fund (ICF) and insured up to EUR 20,000. The broker is a direct member of the European Bank’s Admissions Committee and the Association for Financial Markets in Europe (AFME).
Freedom24 is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is also registered with the German Federal Financial Supervisory Authority (BaFin) and the U.S. Securities and Exchange Commission (SEC). This multi-jurisdictional regulation highlights Freedom24’s commitment to maintaining transparency, security, and compliance with international financial standards
Bottom Line
Freedom24 is a versatile investment platform offering stocks, ETFs, bonds, and options on major exchanges like NYSE, NASDAQ, and HKEX. It provides educational tools, market analysis, real-time data, and customizable charts, suitable for all investors. Regulated by CySEC and reporting to BaFin, and the SEC – it ensures high investor protection and transparency. Freedom24 also offers long-term saving plans with attractive interest rates of up to 5.9% in EUR and 8.8% in USD. However, it has high-margin lending rates and a complex fee structure, which may not be ideal for all investors. Additionally, the trading interface lacks advanced customization options. Despite these drawbacks, the intuitive design and robust features of the Freedom24 mobile app make managing investments easy and efficient.
Please note: Investments in securities and other financial instruments always involve the risk of capital loss. Past investment results do not guarantee future returns. It is important to conduct an analysis before making any investment. You should carefully seek independent investment advice from a certified professional if necessary. The interest rates on the Freedom24 D account and savings plans are dynamic and based on the EURIBOR rate for EUR and the SOFR rate for USD. The interest rates mentioned above are relevant at the date of publication. Please check the actual rates on the Freedom24 website.
