Freetrade SIPP Review 2026

Freetrade now includes its SIPP on the free Basic plan. The account fee and dealing commission are both £0, so the provider cost remains £0 from £10,000 to £500,000 in my model.

The investment range is broader than InvestEngine's. Freetrade supports shares, ETFs, investment trusts, mutual funds and gilts, which gives a self-directed investor more room to change strategy without moving the pension.

Overseas dealing is not free. The FX charge is 0.99% on Basic, 0.59% on Standard and 0.39% on Plus. A Basic customer buying £10,000 of non-GBP investments would pay £99 in FX before any later currency conversion on sale.

Retirement access is the decisive weakness. Each UFPLS withdrawal costs £240, while ongoing income drawdown or annuity purchase requires a transfer to another provider. Four quarterly UFPLS withdrawals would cost £960 in a year.

I rate Freetrade as a strong low-cost accumulation account for self-directed share and ETF investors. I would not choose it as a long-term retirement-income platform under the current withdrawal terms.