Do I like Freedom24?
Not really, I must say.
Is Freedom24 a scam?
No, it's not a scam. Freedom24 is a properly regulated broker.
So what's wrong with Freedom24?
Their commission structure doesn't appeal to me, nor does their poor customer service. Frankly, I prefer more established brokers, not these new neo-brokers that rely on influencers to grow.
Do I recommend Freedom24?
Well, no. It's like DEGIRO; it might be useful if you trade very little and for the long term, but the truth is there are much better alternatives on the market.
You can see my ranking of the best stockbrokers here
Freedom24 security: Is it a trustworthy broker?
The first question that must be answered in any type of analysis is : How safe is Freedom24?Can I deposit my money with peace of mind?
The short answer is yes. Let's take a look at the long answer.
To begin with, Freedom24 is an entity regulated by CySEC (the Cypriot supervisory authority), with license CIF 275/15 issued on May 20, 2015. This ensures that the platform operates in accordance with European regulations and security standards, guaranteeing investor protection.
Therefore, in the event of bankruptcy, customer funds are protected by the Investor Compensation Fund, ensuring coverage of up to 20,000 euros per customer.
However, Freedom24 is also registered and has representative offices in Germany (BaFIN), Spain (CNMV), and Greece. And as we've already mentioned, it's the only European online broker listed on the Nasdaq (FRHC), which provides added security because it has to report to the SEC—as a holding company, not as a broker—every three months.
Freedom24 products: Stocks, ETFs and options
As we will see, Freedom24 essentially has 3 products to highlight:
Actions
However, you have up to 40,000 shares, from blue chips to startups , allowing you to implement any type of investment strategy in the short, medium or long term.
ETFs
Freedom24 offers the ability to trade over 1,500 ETFs from iShares, Vanguard, BlackRock and other major asset management companies.
This way, with ETFs on Freedom24 you can diversify your portfolio with just one click.
However, although it has a wide portfolio, there are more interesting brokers for this type of investment, such as DEGIRO or Scalable Capital, where you can have more than 500 ETFs without commissions.
Financial options
Freedom24 offers investors the opportunity to trade options on US corporate stockswith low commissions of $0.65 per contract. This gives traders access to over 1,000,000 options on US stocks from more than 2,500 companies.
Freedom24 provides an intuitive web platform for trading options. Users can select options from a list of instruments, choose the base asset and expiration date, and open positions according to their investment strategies.
Finally, there's another type of Freedom24 product that has become very popular: their interest-bearing account. We'll look at that in more detail below
Freedom24 platform
Regarding Freedom24's investment platform, we must emphasize that it is 100% geared towards value investors; in fact, its trading fees already hinted at this.
For example, within their investment center, we will have few (if any) trading tools. However, at the same time, we have access to all kinds of fundamental information on most of the 40,000 stocks in which we can invest, at least those in the US or European markets.
But in addition to the main analytical indicators, we have all kinds of reports to obtain the intrinsic value of the company being analyzed:
- Profit and Loss Report
- Balance
- Statement of Cash Flows
And of course, also the price chart. However, it's a chart we'll have very little opportunity to work with.
As is usually the case, this type of broker focused on value investinghas three types of basic orders : market orders, stop loss orders, and limit orders.
Finally, it should be mentioned that, like all online brokers, Freedom24 has a mobile app so you can invest from anywhere in the world.
Customer service
And finally, it must be said that in a country like Spain, the European broker of Kazakh origin stands out for its exemplary customer service.
- Office in Spain: Paseo de Recoletos, 628001 Madrid, Spain
- Contact phone number: +34 919 930 111 (also includes WhatsApp)
- Email: spain@freedomfinance.eu
- Spanish language support: Yes
- Chatbot: Yes
And indeed, it has everything: an office with a public telephone and post office, extended customer service hours, and most importantly, services in Spanish. Perhaps this justifies operating fees that are slightly above the industry average.
Freedom Academy
Furthermore, it also stands out for its educational services, mainly in two areas that are sometimes difficult for the retail public to understand:
Course #1: Options Trading:
This course is primarily aimed at more experienced investors who want to expand their opportunities in the stock market by learning how to use financial options; from what they are and what they are used for, to how to implement practical strategies within the company's brokerage platform. Everything is summarized in five modules.
Course #2: Investment Fundamentals
course for beginners, divided into seven different modules, will teach you practically how to discover the intrinsic value of companies. It offers a practical way to learn how to be a true value investor.
Finally, it's worth mentioning that both courses are 100% free. You simply need to open an account and make the minimum deposit of €150, but you don't need to invest it. Thanks to their interest-bearing account plan, you can even see your money grow slightly.
Freedom24 user reviews
This online broker is gaining a strong reputation due to its marketing campaigns, and there isn't an influencer who hasn't recommended its savings plans.
However, if we take a look at the main forums for discussion about the opinions of the investment community, we can see that the following points stand out:
- A broker with extensive information on companies' financial statements, making it a good option if we are value seekers.
- Its two savings plans are noteworthy, especially its money market fund that pays 6.12 % in dollars.
- Overall, it's a fairly intuitive broker, although not as much as others focused on the retail audience for beginners like DEGIRO or Trade Republic (the latter also with a paid account).
- However, their fees are slightly higher than the industry average, and for value investing, there are much more profitable options.
- Across different websites, we will observe an average rating slightly above 4 (out of 5 points), with the notable high score on the Google Play Store of 4.9 out of 5, based on nearly 4,000 reviews.
Conclusion about Freedom24:
Freedom24 may sound good on paper —access to many markets, European regulation and institutional backing are attractive points—, but the real experience reported by many users does not reassure me.
The main weaknesses you can't ignore are:
- Opinions in more pessimistic forums point to risks regarding how certain products are presented or how customer protection compares to brokers with stronger licenses or more comprehensive guarantee structures.
- Uncompetitive and sometimes confusing costs, with withdrawal fees and commissions that can end up being expensive if you don't choose the right plan.
- Real complaints about deposits/withdrawals and support, which in real finance can cause stress and delays.
In summary: It's clearly not a scam, but I also don't think it's the best option (particularly if you're looking to invest large amounts long-term) given that there are much more solid and established options in the market.
I wouldn't use it.
🛡️ Legal notice
The opinions shown are from real users and have been collected from external platforms. Some are presented as screenshots to preserve their original format.
The analysis and comparative assessments are prepared by the author of this article for informational purposes. We recommend always consulting the official terms and conditions on each company's website before making any decisions.
My name is Norberto. I've been investing and trading for over a decade. I'm also the author of the trading course Experiencia Topstep. If you want to learn how to invest and have any questions, feel free to contact me.
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