Freetrade SIPP

imnothere

Has anyone signed up to the Freetrade SIPP?  And what are your experiences of it so far?

Justanitgeek

Not sure about the SIPP but the “free” ISA only has a limited range of investments available, no ETFs, small caps etc.

There was an article in the thisismoney website about free trade this week, a quick search away.

There’s a Key Features document, just Google Freetrade SIPP.

Other than that all SIPPs are mostly the same as a supermarket, what’s the difference between Asda and Tesco? Same slight differences between Freetrade and Aegon probably.

Other than that, if it really is “free” for a SIPP, then the customer service experience may not be as good as a you might get else where for a few pounds more.

k6chris

Just opened a Freetrade ISA out of curiosity.  As an experiment earlier today, I bought a small quantity of the same share on both my main iWeb ISA and on the Freetrade app.  The price I bought the share in my iWeb account was to two decimal place (so hundreth of a pence), on Freetrade the price was rounded up to the nearest penny.  I assume that the rounding will be applied on the way out too.  I won't be putting more than a few thousand in the account, so not a problem, but be warned if you have a larger ISA (or SIPP). It could work out being a lot more expensive than a traditional account.

Almost as though there is no such thing as a free trade!

MiserlyMartin

Will it really be more expensive? Not when you add up all the admin and service charges of Aviva/Friends. + IWeb, who still have some yearly fees, and transfer out fees? The SIPP is effectively free with the ISA plus that I have with freetrade which pays interest. comparetheplatform has a net annual cost of 0.05% on freetrade vs 0.52% of iWeb

I was planning to move in a pot from Aviva of 118k. My only concern is that its over the magical 85k but I think your investments are ringfenced in the case of anything happening to Freetrade, its just cash that you would have a problem with?