Freetrade offers investors up to £200 cashback for topping up an Isa this summer - is it a good deal?
The maximum you can earn is £200. To bag that amount you'd have to use your full £20,000 Isa allowance on the platform, because transfers aren't eligible for the offer.
Freetrade will also pay cashback on pensions*, and in a reverse of the Isa deal, only transfers are eligible. But there's more money on offer – you can get three per cent cashback, capped at £1,500. You must transfer a pension of at least £10,000.
Investment platforms periodically offer deals to entice people to open an account or transfer their money. Usually there's a host of cashback offers at the end of the tax year, when people are thinking about how best to maximise their tax-free allowances.
Considering we're only three months into the new tax year, deals are currently sparse. But of the offers available right now, Freetrade's rivals a Sipp deal from Interactive Investor*, which pays up to £2,000 when you transfer a pension.
> Learn more about Freetrade's Isa cashback deal*
Boost your pot: Cashback deals can help you get more from your money
How do the deals stack up?
Topping up an Isa isn't on everyone's to-do list in the summer. But if you are comparing accounts and fancy giving your pot a boost, you could do worse than Freetrade's Isa cashback offer.
Cashback shouldn't be the only reason to choose a provider. You should check fees, investment choice, and the availability of research and customer support.
Freetrade is similar to Interactive Investor in that it charges flat fees of £5.99 a month for the standard plan, which includes an Isa.
Interactive Investor is £4.99 a month for an Isa that holds investments up to £50,000.
But Interactive Investor isn't currently offering Isa cashback. And in terms of pensions, Interactive Investor's deal only works out better for very large transfers. It's also not offered as a percentage of your investments, instead being offered in bands - so both a £10,000 and a £45,000 transfer each qualify for £100 cashback.
Taking Freetrade's pension deal, you'd get £300 for a £10,000 transfer and £1,350 for a £45,000 transfer.
Here's what a pension transfer would net you with each provider:
Pension cashback deals compared
Transfer value Interactive Investor cashback Freetrade cashback
£10,000 £100 £300
£30,000 £250 £900
£250,000 £500 £1,500
£1million £2,000 £1,500
To qualify for the pension cashback deal at Freetrade*, you must request to transfer before 31 August 2025 and the transfer must complete by 31 December 2025.
The Isa cashback deal at Freetrade* also closes on 31 August 2025. Freetrade will pay Isa cashback into your general investment account on 28 November 2025.
Make sure you read all the terms and conditions of each deal before going ahead. And before transferring a pension, check that you don't lose any valuable benefits by leaving the scheme.
Read our full round-up of the best self-invested personal pensions to see how we rate pensions from each provider and check our comparison of the best investing platforms below.
Compare the best DIY investing platforms
Investing online is simple, cheap and can be done from your computer, tablet or phone at a time and place that suits you.
When it comes to choosing a DIY investing platform, stocks & shares Isa, self invested personal pension, or a general investing account, the range of options might seem overwhelming.
> This is Money's full guide to the best investing platforms
Every provider has a slightly different offering, charging more or less for trading or holding shares and giving access to a different range of stocks, funds and investment trusts.
When weighing up the right one for you, it's important to to look at the service that it offers, along with administration charges and dealing fees, plus any other extra costs.
We highlight the main players in the table below but would advise doing your own research and considering the points in our full guide to the best investment accounts.
Charles Stanley Direct * 0.30% Min platform fee of £60, max of £600. £100 back in free trades per year £4 £10 Free for funds n/a More details
Freetrade * Basic account free, Standard with Isa £5.99, Plus £11.99 Stocks, investment trusts and ETFs. No funds Free n/a n/a More details
Hargreaves Lansdown * 0.45% Capped at £45 for shares, trusts, ETFs Free £11.95 Free Free More details
Interactive Investor* £4.99 per month under £50k, £11.99 above, £10 extra for Sipp Free trade worth £3.99 per month (does not apply to £4.99 plan) £3.99 £3.99 Free £0.99 More details
InvestEngine * Free Only ETFs. Managed service is 0.25% Not available Free Free Free More details
iWeb Free £5 £5 n/a 2%, max £5 More details
Trading 212* Free Stocks, investment trusts and ETFs. Not available Free n/a Free More details
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