Freedom24 Review – Is it a Reliable Broker or a Scam?

Freedom24, has become a notable player in the French online broker market. In this article, we will explore the different aspects of Freedom24, looking at its reliability, its services, and comparing it to other renowned brokers. We will rely on detailed analytics and user reviews to provide a comprehensive Freedom24 review.

Freedom24 Review – Is This a Reliable Broker?

Customer reviews on Freedom24 are mostly positive, with high ratings on Trustpilot, the AppStore and Google Play, reflecting overall user satisfaction. This broker offers a secure and diversified trading platform, with a wide range of financial instruments, including access to 15 major exchanges in North America, Europe and Asia​​. Freedom24's financial strength and the diversity of its investment portfolio demonstrate its reliability and competence in the financial sector.

Who is Freedom24?

Freedom24 is the online brokerage arm of Freedom Finance, an investment company created in 2008. Present in several countries, including the United States and Germany, the company stands out for its offering of nearly 1 million products financial services through its Freedom24 platform. It is also listed on Nasdaq and has a market capitalization close to $4 billion, highlighting its financial stability and its ability to satisfy the requirements of its customers in various countries.

Freedom24 review – Comparison with three other brokers

Here is our comparison of Freedom24 with other brokers:

Freedom24 vs eToro

  • Pricing: Freedom24 offers a commission-free promotional account for the first 30 days. After that, fees vary depending on the account type, ranging from €0/month for the Smart account to €200/month for the Super account. eToro, on the other hand, offers a simpler pricing structure, with no commissions for stocks and ETFs, but fees for cryptocurrencies and CFDs.
  • Trading platform: eToro stands out for its intuitive interface, suitable for beginners. Freedom24 offers a more technical interface with advanced features, better suited to experienced investors.
  • Specializations: eToro is a leader in social trading, while Freedom24 stands out for its access to IPOs and a wide range of financial instruments​​.

Freedom24 vs Interactive Brokers

  • History and Services: Interactive Brokers, founded in 1978, is known for its advanced trading platform and low costs, catering to both professional and individual traders. Freedom24, established in 2008, aims to simplify the trading experience while offering direct access to major global stock exchanges.
  • Regulation and protection of funds: Both brokers are regulated and offer guarantees for the security of investors' funds.
  • Commissions: Interactive Brokers is known for its competitive fees, especially for active traders. Freedom24, with its Smart Plan, may be more...vantageux for less frequent traders, but commissions may increase with larger trades.

Degiro vs Freedom24

Both Freedom24 and Degiro provide extensive access to various financial instruments. Freedom24 stands out with its interest-bearing savings account and commission-free trial offer, while Degiro is recognized for its competitive brokerage fees

Freedom24 Review – Freedom24 Broker Commissions

Freedom24 offers different account types with varying fee structures:

  • The All-Inclusive Account in USD:
  1. Shares: 0,5% of the transaction + $0,012/share, minimum $1,2.
  2. Options: $3 per contract, $10 per transaction.
  3. No monthly fees for an open account​​.
  • Smart account in EUR:
  1. Shares: €0,02/share, minimum of €2.
  2. Options: €0,65 per contract, no fees per transaction.
  3. No monthly fees for an open account​​.
  • The Fix Account in EUR:
  1. € 10 / month.
  2. Shares: €0,012/share, minimum of €1,2.
  3. Options: €0,65 per contract, no fees per transaction​​.
  • Super account in EUR:
  1. € 200 / month.
  2. Shares: €0,008/share, minimum of €1,2.
  3. Options: €0,65 per contract, no fees per transaction​​.
  • Promotional offer :
  1. Free account for 30 days after opening.
  2. No fees on stocks or options.
  3. No monthly fees.

The minimum deposit required to start trading with Freedom24 is €1. A fee of €7 is applied for fund withdrawals and a commission of $30 for a liquidated transaction.

What account types are available on Freedom24?

Freedom24 offers several account types, each suited to different levels of experience and trading frequency:

  • Freedom24 Promo Account: Promotional offer with no fees for the first 30 days after opening the account, ideal for new users wishing to test the platform.
  • Smart in EUR: With no monthly fees, this account is designed for occasional traders, with minimal transaction fees.
  • Fixed in EUR: With a monthly subscription of €10, this account is designed for active traders, offering reduced fees per transaction.
  • Super in EUR: For very active traders or those dealing with large volumes, this premium account at €200 per month offers very competitive fees.

Each account type offers a different balance between fees and services provided, allowing users to choose the option best suited to their trading needs.

Does Freedom24 offer a savings account?

Yes, Freedom24 offers a savings account bearing 3% interest. This account offers a higher return than traditional savings options such as life insurance or Livret A. It is important to note that this account is separate from the trading account and is designed for long-term investment management ​​.

Freedom24 Sponsorship and Affiliation

Freedom24 offers an attractive referral program withvantages for the godfather and godchild:

  • Avantages for the sponsor: The sponsor earns 1,000 points, equivalent to €20, for each new referral who opens an account through their referral link.
  • AvantageThe referral's benefit: The referred person receives a free share, with a value ranging from $1 to $600, upon opening their first account using the referral link. This program is reserved for residents of the European Union aged 25 and over, and the free share is awarded after account verification.

Freedom24 also offers affiliate programs:

CPA Program:

  • Requires referring at least 5 people.
  • Offers up to €300 commission for each referred person who opens an account and makes a deposit​​.

CPA + Introducing Broker (IB) Program:

  • Requires sponsorship of at least 100 people.
  • Allows you to earn 25% commissions on each transaction carried out by the affiliate, in addition to the CPA plan commissions.

What financial instruments are available on Freedom24?

Freedom24 offers a variety of financial instruments suitable for different investor profiles. Here is an overview of the available options:

  • Stocks – Freedom24, a rapidly expanding European trading platform in France, offers access to a wide range of stocks. It provides access to over 35,000 stocks listed on various exchanges, including Euronext, Nasdaq, and other Asian and Russian financial markets. This allows investors a broad and diversified selection for their stock portfolios.
  • ETF – The platform also offers a substantial selection of 3000 ETFs, including crypto ETFs, although Freedom24 does not directly offer cryptocurrencies.
  • Bonds – In terms of bonds, although specific details are not mentioned in the sources consulted, the diversity of Freedom24's investment catalogue suggests a notable selection of bonds.
  • Options – Freedom24 stands out with its offering of over 800,000 options on US stocks, offering one of the most competitive rates in Europe at just $0,65 per contract.

Freedom24 Review – User experience on the Freedom24 platform

The Freedom24 platform presents itself as a harmonious combination of advanced technology, performance and user ergonomics. It offers a web browsing experience that is both comfortable and secure. Packed with features such as advanced quote charts and efficient research tools for stocks and ETFs, this platform ensures fast and secure order execution. Thanks to its well-distributed server structure, it ensures optimal responsiveness for transactions, enriched with a daily video library highlighting promising investment opportunities.

Freedom24 Avis and its mobile application

The Freedom24 mobile application meets current needs for mobility and responsiveness in trading. Designed to offer the same experience as a web browser, it integrates complete functionalities, from account management to technical and fundamental analysis. Users benefit from simplified access to financial assets, market information, and expert advice. All this in an intuitive interface adapted to smartphones and tablets. Available on iOS, Android and Huawei, the app makes it easy to track portfolios and make investment decisions anytime, anywhere.

The strengths of the Freedom24 Online Broker

  • Diversified Catalogue: More than one million financial instruments, including stocks and ETFs.
  • Financial Strength: Part of the Freedom Holding Corp group with a market capitalization of approximately $4 billion.
  • Ownership of Instruments: No CFDs, guaranteeing real ownership of the instruments.
  • Responsive Customer Service: Fast processing of customer requests, often in less than 2 hours.
  • Trust and Regulation: Regulated by CySEC, Freedom24 is a trusted international broker.

The weak points of the Freedom24 Broker

  • Limited Recognition in France: Freedom24 remains relatively unknown on the French market.
  • No PEA available: Currently, the platform does not offer a Share Savings Plan.
  • No cryptocurrencies: The broker does not yet offer cryptocurrency trading.
freedom24 logo
  • +30 Stock Market Places

  • Participate in IPOs

  • Savings account at 6,16%

Cristina Balan
Latest articles by Cristina Balan (see everything)