Richard Montana | November 17, 2022
Freedom24 is an investing service provided by the European brokerage Freedom Finance. They give you access to a versatile and user-friendly trading platform for trading an excellent selection of over 40,000+ exchange instruments. Besides the innovative stock trading platform, one of the most unique features of Freedom24 is the ability for you to invest directly in initial public offerings (IPOs). This is something that was previously only accessible for institutional investors so I think it is great they give retail traders the option. They are one of a few brokers I have come across who have IPOs. You can buy into the IPOs at initial price on the first day of trading for an IPO. You can also trade in securities on major American, European and Asian exchanges, with some of the best trading conditions available in Europe.
Pros & Cons
- 40,000+ trading instruments including IPOs
- Flexible trading plans with low fees
- Easy to use trading platform
- Helpful trading tools
- Demo trading accounts
- The ability to buy stocks 24/7
- No charges for the first 30 days
- Remote account opening in just 10 minutes
- Excellent customer support
- Limited deposit and withdrawal methods
- Could add some educational content
- No cryptocurrency trading or funding options
- No MetaTrader or cTrader platforms
- No managed accounts
Freedom Finance was founded in 2008 and has since then opened offices in various countries and currently manages billions of dollars in client assets. Freedom Finance offers thousands of users from across the world the simple to use Freedom24 platform. They are a leading broker when it comes to buying and selling stocks online. One of the main features that makes them stand out from the competition is that they enable you to Participate in IPOs.
Some of the key advantages of investing and trading with Freedom24 from my perspective include:
- Trade in various markets
- Participate in IPOs for the initial stocks price
- Flexible cost plans to suit your needs
- Low trading fees
- Proprietary Freedom24 trading platform
- Convenient mobile trading app
- 30 days no fee promotion
The Freedom24 online stock brokerage is a project of Freedom Finance Europe Ltd (formerly Freedom Finance Cyprus Ltd), the European subsidiary of the public holding Freedom Holdings Corp (NASDAQ:FRHC). Freedom Finance Europe Ltd (ex Freedom Finance Cyprus Ltd) is regulated by three authorities: Cyprus Securities and Exchange Commission (CySEC), Germany’s Federal Financial Supervisory Authority (BaFin), and the United States Securities and Exchange Commission (SEC). They are internationally audited, with annual reports on the Securities Exchange Commission page. They operate under MiFID II rules, which is a legislative framework with a high level of investor protection.
I really like the top-tier regulation that they have in place. It gives me confidence to trade with them knowing that they must comply with rules and regulations to make sure they are operating in an honest and transparent manner. I would always prefer to use a regulated broker as it allows me to focus on my trading without needing to worry about the safety of my funds. If regulation is as important to you, Oanda are another well-regulated broker that provide stock trading.
The company reserves the right to refuse to provide services to persons who do not meet the conditions required of customers or to whom the provision of such services is prohibited/restricted in accordance with the legislation of the European Union. If your country is not accepted, please feel free to browse our broker reviews for an alternative.
With Freedom24, you are be able to gain quick and easy access to multiple stock exchanges around the world. Through their proprietary ‘Freedom24’ trading software, you can trade directly from your web browser or mobile devices such as smartphones and tablets. I like the web platform as it can be accessed from all devices and is always up to date. I found the mobile version to be one of the best trading apps and like that it allows me to follow the markets and manage my positions from anywhere at any time.
Freedom24 is a state-of-the-art proprietary electronic trading platform that provides you with all of the necessary market analysis and trading capabilities. You get seamless access to global exchanges including NYSE, NASDAQ, LSE, Deutsche Börse, KASE, Ukrainian Exchange, MOEX, SPBEX. Additionally, the Freedom24 platform allows you to monitor and manage all aspects of your personal accounts and participate in the brokers social network. This is a good place to share ideas with other likeminded traders and to gain insights into the latest market moves.
Some of the key features include:
- Online quotes for traded instruments
- Market depth, tick chart
- Technical indicators and analytical objects
- Quotes charts – candles, bars and line
- Stop loss and take profit
- Trading event alerts
- Create trade orders for the purchase and sale of securities
- Invest with both demo and real user accounts
- View history of orders, status of orders, trades executed on the order
- Track the status of your current portfolio
- Social-trading or independent trading
You will find that the Freedom24 platform has a vast selection of trading tools which can be used to conduct in-depth analysis of the markets across various chart types and timeframes. This includes plenty technical indicators and drawing tools. If you are super technical trader and want to run some more complex trading strategies, then you may want to consider the cTrader platform instead. This isn’t available through this broker but you can take a look at Axiory as they have industry leading trading platforms (including cTrader) with a plethora of advanced trading tools.
Freedom24 can provide you with comprehensive analytical support and consulting of real investment experts in the office from one of the brokers business centres. You can apply for a demo account to practice trading online with virtual funds. This is a good way to make sure the services that they provide can meet your requirements before making a financial commitment. I do think that they could improve by adding some educational content or having a dedicated traders academy. If you are a beginner and looking for some guidance along the way, you may want to consider FXTM who have plenty of trading guides and videos to help improve your knowledge.
You can sort stocks by their growth potential and read the recommendations of Merrill Lynch, J.P. Morgan and 50+ other reputable investment banks for the securities you are interested in. You can also study the forecasts made by Freedom Finance analysts. I found there to be some insightful analysis that made me aware of some potential opportunities that I may have otherwise overlooked.
On the website there is a section dedicated to the latest market news, covering a variety of financial markets. This can help as part of your fundamental analysis when trying to gauge the overall opinion of the markets. I think it is important to keep up to date with what is going on around the world as this can have a significant impact on your decisions.
Freedom24 have a huge selection of over 40,000 financial instruments available to trade online through the provided platforms. This includes Stocks and Shares, ETFs, Bonds, Futures and Options. The available markets are the NYSE, NASDAQ, HKEX, LSE, Deutsche Börse, KASE, MOEX. They have one of the largest selections that you will find from any broker. If you like to diversify your portfolio, Firstrade also have a great choice of instruments .
You can buy and sell shares of “blue chips” and start-ups in the USA, Europe and Asia. This enables you to become a shareholder of the world leading companies such as Facebook, Apple, Amazon, Microsoft, Coca-Cola, Disney and Alibaba.
They provide investing in commodity funds where users can speculate on the underlying price movements of gold, oil and other assets. They offer hedge positions in stocks with futures contracts. There is also a choice of over 290 Euro bonds.
You can choose from different plans that fit your own individual trading styles. All new users can benefit from the free promo plan, which enables them to trade for free for the first 30 days. All trading features are available on the demo account without restrictions. I would personally always test a broker with a demo account to begin with in order to familiarise myself with the platforms and practice my strategies.
The trading fees will depend on the account type. They start at 0.5 % from the volume of each transaction + USD 0,012 per share but not less than minimum USD 1,2 per trade. I found the fees to be generally very good and in line with the industry standard. You may be able to shop around for cheaper brokers but the saving would probably be negligible and you might not get the excellent product range that Freedom24 has.
There is a short online form to complete on the website where you can open an account in just minutes to create your own unique investment portfolio with any of the 40,000+ exchange instruments available through the broker. After opening an investment account, you can buy securities in an online store, trade on stock exchanges, and participate in IPOs. It is very useful to be able to do everything from in one place with relative ease and minimal hassle.
The broker has a professional customer support team with a wealth of experience and expertise in the US stock market. They can be reached via telephone, email or live chat, with contact details for multiple locations on the website. I have always received a prompt response from them and appreciate online chat support is available as I find this to be the most convenient way to get a quick response to my queries.
You can make deposits and withdrawals from your Freedom24 account using bank wire or credit/debit card. I think this is a limited choice of payment options. There are many other brokers you can choose from such as Trading 212 who have lots of digital wallet funding options. It would be great of they could support crypto funding but I undersatdn this may not be possible due to regulatory restrictions. For crypto funding, you might want to take a look at Coinexx.
Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal. Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. They cannot accept third-party payments which is normal for a regulated broker as they must comply with Anti money laundering (AML) procedures. All funds deposited into your trading account must be under the same name as your own account.
Compare Broker Features
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Overall, I like that Freedom24 is a very well-established brokerage firm that is regulated in multiple jurisdictions. This means that I can trade a large selection of trading instruments with peace of mind that my account is in good hands. I found the proprietary trading platform to be very easy to use and like that it is compatible across multiple devices. This makes it convenient to access and manage your account whenever you need to. The trading fees are low and excellent customer support is on hand to assist you with all of your online trading needs. I do think they could improve by adding some more popular platforms such as MetaTrader and cTrader. They could also expand on the educational resources to help beginners. The funding options are also quite limited but the minimum deposit is just $1. All in all, I would quite happily use them for trading stocks and most importantly, being one of the few brokers who integrate IPOs.