Forgive me for going on about platforms a lot over the past couple of months, but the first set of results for our 2021 ‘top rated’ platforms are in – and they’re really interesting.
The rise of Freetrade is what stands out, an app-only trading platform that launched in 2018 and now has approaching 700,000 registered users. It came top or second across all five criteria (website/app, value for money, customer service, research and range of investments) as voted for by readers, and its average overall score was well ahead of the 17 other platforms surveyed.
Of course, these results need to be taken with a pinch of salt. Freetrade has a much narrower offering than traditional platforms and a large proportion of its investors don’t have experience of any other broker. Trading is only possible on the Freetrade app (not desktop) and it doesn’t have a customer phone line – all communications are done digitally.