Independent broker review · Updated June 5, 2026
Freedom24: international securities account with IPO access? My 2026 review
The international securities account betting on IPOs and cash yield, appealing for the experienced investor, provided you accept the $20,000 compensation cap.
The experienced investor targeting US markets, IPOs and yield on idle cash
A first account or a calm, low-cost buy-and-hold approach
XTB — strongly regulated, commission-free stocks and ETFs
Read XTB review →Our take
My take on Freedom24
Freedom24 is the European brand of Freedom Holding Corp, a NASDAQ-listed group, operated from Cyprus by Freedom Finance Europe. Its promise: breadth. A catalogue that claims more than a million instruments, easy access to US initial public offerings (IPOs) and an interest-bearing settlement account , arguments rarely found among mainstream brokers.
We list it because it has carved out a place among investors seeking international markets and IPOs. But one factor calls for nuance: investor compensation capped at $20,000, within a heavily promotional commercial setting.
“Freedom24 opens the doors to US IPOs and pays interest on cash, but asks you to accept a $20,000 compensation cap. ”
— Roch de Montesquieu, Research Analyst · Fees, Data, Transparency
Why trust HelloBrokers?
This review is not a copy-paste of Freedom24's marketing page. We tested the platforms, modelled the cost of a typical trade down to the pip, and benchmarked Freedom24 against the 13 brokers in our comparison. A broker is judged on verifiable figures, not marketing promises.
The essentials
Freedom24 at a glance
Key characteristics, verified on June 5, 2026.
Safety & regulation
Is your money safe?
Freedom24 is operated by Freedom Finance Europe Ltd, regulated by Cyprus's CySEC under the European MiFID II framework, and backed by Freedom Holding Corp, a NASDAQ-listed company subject to SEC oversight. An important point to note: the protection of holdings falls under the Cyprus fund (ICF), capped at $20,000, a level below what many larger brokers guarantee. This isn't a sign of danger, but a difference in protection to be aware of. The very aggressive marketing (free shares, time-limited offers) also makes it worth reading the conditions closely.
🔒 HelloBrokers safety score: 3.2 / 5
Fees & spreads
What does it really cost?
At sign-up, Freedom24 highlights a commission-free period (until 31/08/2026, on the first 240 transactions or for 12 months). Once that promotion ends, the Smart plan charges 0.5% + $0.012 per share, with a minimum of $1.20 per order, on European and US stocks and ETFs. It's not the cheapest on the market once the promo is over.
The distinctive financial advantage lies elsewhere: the settlement account (D-account) earns interest of around 2.5% per year on uninvested cash. Combined with IPO access, this points to a profile geared towards the active, opportunistic investor rather than the passive saver.
| Account | Min. deposit | Spread from | Commission |
|---|---|---|---|
| Smart plan Standard tariff. A commission-free promotional period is offered at sign-up. | No minimum | Market price (no spread markup disclosed) | 0.5% + $0.012/share, min $1.20/order |
| D-account (settlement) Interest-bearing cash account, around 2.5% per year on uninvested funds. Opened automatically alongside the trading account. | No minimum | n/a | None |
Real-world scenarios
Real-world scenarios
Three trader profiles and their monthly cost.
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Sign-up during the commission-free promotion
Account opened during the promotional window. A handful of stock and ETF orders on US and European exchanges, idle cash left on the D-account.
Order commissions waived for the promo period, cash earning around 2.5% per year. The favourable case the marketing leans on, valid only while the promotion lasts.
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Active investor, off-promotion
Smart plan after the promotion ends. 10 orders per month on US stocks, average ticket around $1,000.
Each order costs at least $1.20 (0.5% + $0.012/share), so roughly $12+ per month in commissions, above a commission-free mainstream broker on the same activity.
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Moving the portfolio elsewhere
Investor holding 8 different securities who decides to transfer the portfolio to another broker.
Around $100 per security in outbound transfer fees, so close to $800 in this example. A high exit cost worth knowing before committing.
Instruments & markets covered
Instruments & markets covered
The catalogue is one of the broadest on the market: stocks and ETFs on the major European and US exchanges, bonds, options, and above all access to US initial public offerings (IPOs) that is hard to find elsewhere for a retail investor. It's Freedom24's signature argument.
Everything goes through an ordinary securities account. For anyone investing in US stocks and targeting IPOs, that's consistent, and the access to global stock exchanges covers most needs of an internationally minded portfolio.
See instruments by class in detail
| Asset class | Count | Examples |
|---|---|---|
| Stocks | Thousands | Europe and United States |
| ETFs | Wide selection | European and US ETFs |
| Bonds | Yes | Government and corporate bonds |
| Options / IPOs | Yes | Listed options + access to US IPOs |
What Freedom24 offers
Capabilities, in plain terms
Covered, partial or not covered. No spin.
- Cash securities account (direct ownership) ✓ Yes Ordinary securities account, shares held in your name
- Stocks, ETFs and bonds ✓ Yes European and US exchanges
- Access to US IPOs ✓ Yes Rare for a retail investor, subject to allocation
- Listed options ✓ Yes
- Interest on uninvested cash (D-account) ✓ Yes Around 2.5% per year, opened automatically
- MetaTrader / TradingView ✗ No Proprietary web and mobile platforms only
- Copy trading ✗ No
- Demo account ~ Partial Available on the platform, limited communication around it
Trading platforms
Trading platforms
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Web terminal
- Order entry on stocks, ETFs, bonds and options
- Charting and watchlists, limited customisation
- Real-time market data as a paid add-on
- IPO subscription interface
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Mobile app (iOS / Android)
- Clean, easy-to-navigate interface
- Portfolio tracking and order entry
- Push notifications on IPOs and corporate actions
- No automated or algorithmic trading
Who this broker is for
Who this broker is for
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Beginner
The interface is approachable, but the absence of a clear demo path, the off-promotion fee schedule and the heavily promotional sign-up flow make this a less obvious first account than a strongly regulated mainstream broker.
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Experienced investor (US markets, IPOs)
This is the profile the offering is built for: a broad catalogue across European and US exchanges, hard-to-find access to US IPOs, bonds and listed options, plus interest on idle cash via the D-account.
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Long-term passive investor
Workable through an ordinary securities account, but the off-promotion commissions and the high exit costs (around $100 per security to transfer out) weigh on a strict buy-and-hold approach.
Comparison
Freedom24 vs the alternatives
The right choice depends on your profile. Here is how Freedom24 stands against the brokers we feature.
① The HelloBrokers ranking
overall score /5 · click to read the review
What users say
What clients are saying
Synthesis of public reviews. Representative excerpts, abridged.
Easy platform to use and quick order execution. The IPO access is the reason I opened the account.
Trustpilot review · investing for 1 year
Support was slow to answer and account verification dragged on far longer than advertised.
Trustpilot review · 2★
Broad catalogue and the interest on cash is a genuine plus over most brokers.
Reddit sentiment · paraphrased
The marketing is relentless and the transfer-out fee per security is steep, it feels like lock-in.
Reddit sentiment · paraphrased
The verdict
The verdict
Freedom24 is a powerful tool for a specific profile: the experienced investor, focused on US markets, IPOs and cash yield, who knows what they're doing. Its catalogue and interest-bearing D-account are real differentiators. But for the broader public, several signals call for caution: compensation limited to $20,000, off-promotion fees that are far from negligible and very insistent marketing. For a first account or a calm wealth-building approach, strongly regulated partners, XTB or IG, offer a more protective framework. Hence our 6.5/10 rating: a rich and original offering, but a demanding one, best reserved for experienced investors.
Our recommended alternatives
Our recommended alternatives
For most retail investors, these partner brokers are a better fit.
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Strongly regulated, commission-free stocks and ETFs, broad protective guarantees.
See XTB → -
Strongly regulated, very broad catalogue, leading listed player.
See IG → -
Multi-asset, immediate to get started, unlimited demo.
See capital.com →
Frequently asked questions
FAQ Freedom24
Is Freedom24 reliable?
Freedom24 is operated by Freedom Finance Europe (Cyprus), regulated by CySEC under the MiFID II framework, and backed by Freedom Holding Corp, listed on the NASDAQ. Investor compensation is nonetheless limited to $20,000, a level worth keeping in mind.
Why choose Freedom24?
For the breadth of its catalogue (stocks, ETFs, bonds, options), its access to US IPOs and the yield on its settlement account (D-account). It's a tool for the experienced international investor.
What are the fees at Freedom24?
Off-promotion: 0.5% + $0.012 per share, minimum $1.20 per order (Smart plan). A commission-free period is offered at sign-up. The settlement account earns interest of around 2.5% per year.
Who is Freedom24 for?
The self-directed investor targeting US markets, IPOs or a broad universe of securities. The $20,000 compensation cap is the main factor to weigh in the balance.
Is it easy to withdraw from Freedom24?
Withdrawals are made by bank transfer. The point to watch isn't withdrawals but the heavily promotional marketing and the investor compensation capped at $20,000.
Sources
- Official Freedom24 pricing — freedom24.com, pricing terms, accessed 5 June 2026
- CySEC / Cyprus ICF regulation — Freedom Finance Europe Ltd, investor compensation $20,000
- Freedom Holding Corp — NASDAQ-listed parent company (FRHC)
- Trustpilot — trustpilot.com/review/freedom24.com, snapshot June 2026 (around 4.0/5, ratings split between positive use and service complaints)
The author of this review
Who wrote this analysis?