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Dodl vs Freetrade

We compare AJ Bell's new investment app, Dodl, against Freetrade. See who came out on top.

Dodl is the new investment app on the block — it’s got a UI interface that’s so attractive that it reminds you of Freetrade’s hot-pink interior, with added monsters. We’ve put the two apps against each other to find out whether Dodl is better than Freetrade, or if it’s got more work to do to match it. We’ve compared the shares you can trade, the investment types, fees, mobile and web features and learning resources.

Dodl vs Freetrade: Vital statistics

DodlFreetrade
Finder rating★★★★★★★★★★
Customer satisfaction rating★★★★★
Stocks and shares ISA available?
FSCS protected?
Costs rating★★★★★★★★★★
Keep in mindCapital at riskCapital at risk
More InfoGo to site
More Info

When it comes to vital stats, both providers are looking good. Both Dodl and Freetrade have a stocks and shares ISA available, with Dodl it’s at no extra cost, but costs £3 per month with Freetrade. Both platforms are protected with the Financial Services Compensation Scheme (FSCS), which means that you’re protected up to £85,000 if either company were to go bust.

Round 1: Stock exchanges

DodlFreetrade
Exchanges covered score★★★★★★★★★★
UK - London Stock Exchange
US - NASDAQ
US - New York Stock Exchange
Canada - Toronto Stock Exchange
Japan - Japan Exchange Group
Euronext
Germany - Deutsche Börse
Keep in mindCapital at riskCapital at risk
More InfoGo to site
More Info

At the moment, Dodl only has 50 UK shares available on the platform, while Freetrade has access to a huge range of UK and US stocks. Hopefully Dodl will add more in the future.

  • Winner: Freetrade

Round 2: Financial instruments

DodlFreetrade
Financial instruments score★★★★★★★★★★
Shares
ETFs
Bonds
Funds
Keep in mindCapital at riskCapital at risk
More InfoGo to site
More Info

Dodl has 50 UK shares and a range of funds, which it calls “themed investments”. Freetrade offers a lot more shares, with around 6,500 shares available to investors.

  • Winner: Freetrade

Round 3: Fees

DodlFreetrade
Costs rating★★★★★★★★★★
Platform fees0.15%£0
Minimum deposit£0£1
Standard trading fee£0£0
Best trading fee£0£0
Foreign exchange fee0%0.45%
Keep in mindCapital at riskCapital at risk
More InfoGo to site
More Info

The costs for both platforms are pretty good – for beginner investors trading less than £675 each month, Dodl will cost £12 each year. Freetrade is commission-free, but you’ll have to pay foreign exchange fees to trade overseas shares, and if you want an ISA, that’ll cost you £36 each year. So your choice of platform will depend on what you’re looking to get out of it. For us, the free ISA just does it for us.

  • Winner: Dodl

Round 4: Mobile and web features

DodlFreetrade
Features rating★★★★★★★★★★
iPhone app
Android app
Desktop/web app
Notifications
Watch lists
Community or forums
Keep in mindCapital at riskCapital at risk
More InfoGo to site
More Info

Both Dodl and Freetrade have mobile apps, and both are currently app only. You can receive notifications on both platforms about how your investments are getting on. Dodl doesn’t let you create watch lists or have forums available.

  • Winner: Freetrade

Round 5: Learning resources

DodlFreetrade
Resources rating★★★★★★★★★★
Guides
Videos and walkthroughs
Demo account
In-depth learning tools
Keep in mindCapital at riskCapital at risk
More InfoGo to site
More Info

When it comes to learning resources, both providers are doing pretty well, but we really like what Dodl is doing. Dodl has an easy to access “learn” tab on the app with guides and in-depth tools that can help you get started, which we think is vital for a beginner investment platform. Freetrade has some great learning resources on its website, but this isn’t reflected as well in the app. Neither platform have a demo account, and both could improve their video content.

  • Winner: Dodl

Overall winner: Is Dodl better than Freetrade?

Both of these platforms are good – but sadly Dodl is maybe a little early in its journey to trump Freetrade. We think it could have performed better in our comparison if it had more investments available on its platform. We think Dodl’s learning resources are great, and its fees are comparatively low against other platforms.

Freetrade’s huge range of investments makes it a clear winner at the moment, but we’ll keep tabs on what both platforms are up to.

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

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