Dodl is an investment app from AJ Bell with a UI interface that’s so attractive that it reminds us of Freetrade’s hot-pink interior, but with added monsters. We’ve put the 2 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.
 |  | |
| Finder score | ★★★★★ | ★★★★★ |
| Customer satisfaction survey | ★★★★★ | ★★★★★ |
| Stocks and shares ISA available? | ||
| FSCS protected? | ||
| Costs score | ★★★★★ | ★★★★★ |
| Keep in mind | Capital at risk | Capital at risk |
| More Info | More Info |
When it comes to vital stats, both providers are looking good. Both Dodl and Freetrade have a stocks and shares ISA and self-invested personal pensions (SIPPs) available. However, with Dodl it’s at no extra cost, but it costs at least £4.99 per month with Freetrade’s Standard plan for the ISA or £9.99 for a SIPP with the Plus plan. Dodl also offers a Lifetime ISA (LISA), which Freetrade does not.
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.
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| 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 mind | Capital at risk | Capital at risk |
| More Info | More Info |
At the moment, Dodl only has around 80 UK and US shares available on the platform, while Freetrade has access to a huge range of over 6,000 UK and US stocks.
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| Financial instruments score | ★★★★★ | ★★★★★ |
| Shares | ||
| ETFs | ||
| Bonds | ||
| Funds | ||
| Keep in mind | Capital at risk | Capital at risk |
| More Info | More Info |
Dodl has around 80 UK shares, a range of funds (some of which include bonds), and themed ETF investments. Freetrade offers a lot more shares and ETFs, with over 6,000 but it doesn’t offer any funds.
| | |
| Costs score | ★★★★★ | ★★★★★ |
| Minimum deposit | £25/month or £100 lump sum | £1 |
| Standard trading fee | £0 | £0 |
| Best trading fee | £0 | £0 |
| Foreign exchange fee | 0.25% | 0.59% |
| Keep in mind | Capital at risk | Capital at risk |
| More Info | More Info |
The costs for both platforms are pretty good. Dodl has a 0.15% fee (minimum £1 a month) and Freetrade is commission-free and the Basic plan has no platform fee, but you’ll still pay foreign exchange (FX) fees to trade overseas shares, and if you want an ISA, that’ll cost you at least £59.88 extra each year. Dodl as FX fees that range from 0.25% to 0.75% depending on the size of your trade. However, it costs nothing extra to use all the account types with Dodl. 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.
| | |
| Features rating | ★★★★★ | ★★★★★ |
| iPhone app | ||
| Android app | ||
| Desktop/web app | ||
| Notifications | ||
| Watch lists | ||
| Community or forums | ||
| Keep in mind | Capital at risk | Capital at risk |
| More Info | 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.
| | |
| Resources rating | ★★★★★ | ★★★★★ |
| Guides | ||
| Videos and walkthroughs | ||
| Demo account | ||
| In-depth learning tools | ||
| Keep in mind | Capital at risk | Capital at risk |
| More Info | 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 investments platforms. 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.
Both of these platforms are good – and we think Dodl is best for beginners who want simplicity but Freetrade is best if you want to pick from a larger range of stocks. We think Dodl’s learning resources are great, and its fees are comparatively low against other platforms, including Freetrade when you take into account the ISA and SIPP.
Freetrade’s huge range of investments is a bonus, but you’re limited to stocks and there are extra fees if you want full access to the platform.
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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