Backed by a publicly listed parent company (Freedom Holding Corp, NASDAQ: FRHC) and regulated in the European Union, Freedom24 is an online brokerage that’s been catching the eye of many investors across Europe.
It stands out with an extensive range of products—over 40,000 stocks, 1,500 ETFs, as well as bonds and U.S. options – plus a unique savings-like offering where your idle cash can earn interest, sometimes outpacing traditional bank accounts.
All in all, it looks like a strong option for investors who want a broad selection of assets and an added layer of earnings on their uninvested funds.
On the downside, it still lags behind top-tier brokers in some aspects, such as automatic tax handling, free withdrawals, or the absence of a top-tier regulator. Also, if you are worried about its past controversies, including an investigative short seller report, you’ll need to exercise caution and do your own due diligence.
Want to know more about Freedom24? Keep reading, we’ve got you covered with this honest Freedom24 review!
Freedom24 Overview
Freedom24 is the trading platform of Freedom Finance Europe Ltd., a subsidiary of Freedom Holding Corp, a company listed on the NASDAQ. This structure offers a level of transparency unusual among European brokers. It operates under a CySEC license and can serve clients in multiple European countries. You can access markets in the U.S., Europe, and Asia, invest in stocks, ETFs, bonds, and even U.S. stock options at some of the most competitive rates available.
What sets Freedom24 apart is its interest-bearing “D-account Securities Swap*” and “Long-Term Funds Placement Securities Swap*” feature, where uninvested cash can earn up to around 3%+ on EUR and over 4%+ on USD daily. Few brokers offer such returns on your idle funds. Additionally, Freedom24 runs promotions for new users, sometimes including a Freedom24 promo code that could provide a Freedom24 bonus in the form of free stocks or commission-free periods.
General info about Freedom24:
- Country of regulation: Cyprus (EU) via CySEC
- U.S. stock commissions: From around €0.02 per share + €2 per order (Smart plan)
- ETFs commissions: Similar low fees structure, no monthly subscription fee
- Inactivity fee: No
- Withdrawal fee: €7
- Minimum deposit: €0
- Products offered: Stocks, ETFs, bonds, futures, options, interest on uninvested cash
- Demo account: Yes (virtual account upon signup)
- Regulatory oversight: CySEC, registered with BaFin, parent listed on NASDAQ
Pros and Cons
Pros
- Extensive Product Range: 40,000+ stocks, 1,500+ ETFs, U.S. options, bonds—all under one roof.
- Interest on Uninvested Cash: Earn up to ~3%+ in EUR and 4%+ in USD on idle funds. (as of this writing – subject to change)
- No Monthly Fees & No Inactivity Fees: You won’t pay just for having an account.
- Transparent Ownership & Regulation: Backed by a NASDAQ-listed entity, regulated in the EU, and compliant with MiFID II.
- Potential Freedom24 Bonus: Occasional promos like free shares or lower commissions when using a Freedom24 promo code.
Cons
- €7 Withdrawal Fee: A flat fee per withdrawal is a downer, especially for frequent moves.
- Tax Handling: No automatic tax reporting for certain countries; you must handle taxation yourself.
- Currency Conversion Fees: Around 0.2% spread could add up for frequent cross-currency trades.
- Past Controversies: A short-seller report raised serious allegations. While regulators took no action so far, it’s a red flag for some.
- Lack of a top-tier regulator. Freedom24 is regulated by CySEC, which we consider a “mid-tier regulator”.
Fees
Freedom24’s pricing structure is relatively transparent. There are currently two main “service plans”:
- Smart in EUR: Ideal for regular retail investors. Stocks and ETFs from the U.S. and EU often cost €0.02 per share + €2/order; U.S. options are $0.65 per contract, which is highly competitive. No monthly fee.
- Prime in EUR: Another choice, with personal manager.
Keep an eye on other costs:
- Withdrawal: €7 flat fee.
- Currency conversion: Approximately 0.2% spread.
- No inactivity fee: A plus for long-term investors.
In terms of transparency and fairness, Freedom24 fees are decent. Still, if you plan to withdraw frequently or trade multiple currencies, costs can add up.
Is Freedom24 Safe? Is Freedom24 a Scam?
Is Freedom24 safe? It’s a legitimate question. Freedom24 is regulated by CySEC and is part of Freedom Holding Corp, listed on the U.S. NASDAQ exchange and monitored by the SEC. That means a certain level of scrutiny and transparency. Client funds are held separately from the company’s, and in the unlikely event of Freedom24 going bust, assets (investments and cash) are covered up to €20,000 by the Investor Compensation Fund (ICF).
The platform’s reputation took a hit when a short-seller (Hindenburg Research) accused Freedom Holding Corp of questionable practices. So far, no official regulatory penalties have materialized. But these allegations remain a cloud on the horizon. If you’re risk-averse and concerned about such reports, do your own research before committing large sums.
In conclusion, Freedom24 is not considered a “scam.” The broker has a track record, real regulation, investment protection, and tens of thousands of European clients.
Platforms & User Experience
The Freedom24 web and mobile platforms are straightforward. You can track your portfolio, place orders, and consult basic research tools. While not as polished as some “app-first” brokers, it’s fully functional and intuitive. Advanced charting might be limited, but for most buy-and-hold or moderately active investors, it’s more than enough.
Also, a dedicated “InvestIdeas” section provides fundamental analysis and commentary on markets, a neat extra for those who appreciate some guidance.
Promotions and Freedom24 Promo Code
Freedom24 often offers promotions to attract new users. You might find a Freedom24 promo code granting free stocks or commission-free trading for a limited period. These promos vary, so it’s best to check their website or check this broker bonus page to stay informed.
A Freedom24 bonus could be an excellent perk to test the platform’s features risk-free, especially for new investors curious to see how the service works.
Customer Support & Education
Freedom24’s customer service can be reached via chat, email, and phone. While not always offering native-language support for all EU countries, English support is generally responsive. There is also a robust FAQ section, educational content, and a blog with market analysis to help you become a more informed investor.
Final Thoughts: Who is Freedom24 For?
Freedom24 shines as a comprehensive brokerage solution where you can diversify your portfolio globally and even earn interest on your waiting cash.
Its competitive fees, wide market access, and regulatory credibility make it attractive for intermediate investors. Beginners can also find value here, especially with the educational tools and occasional promos.
On the flip side, if you do a lot of cross-currency trades, hate withdrawal fees, or are deeply unsettled by past controversies, it might not be your top pick – make sure to check our list of the “Best European Brokers” to find an alternative.
Also, if you’re searching for more sophisticated instruments like CFDs or crypto (beyond ETFs), you’ll be disappointed.
In this Freedom24 review, we have seen that the broker is a noteworthy player in the European brokerage space.
Check their website and decide for yourself!
Hope we helped!
Disclaimer: Investing involves the risk of loss. Past performance does not guarantee future results. This freedom24 review is for informational purposes only and does not constitute investment advice. Always do your own research and consider seeking advice from a certified professional if necessary.
*This product is an investment in OTC swaps, and may not be appropriate for every investor. This product is not a banking service and is not related to a bank deposit or a bank account. The ability to provide access to a particular financial instrument is subject to an appropriateness test.
Pedro is passionate about finance, marketing, and technology. He is a growth manager at several online projects and a former digital marketer for a fintech company.
