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Dodl vs Freetrade

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

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.

Dodl vs Freetrade: Vital statistics

DodlFreetrade
Finder score★★★★★★★★★★
Customer satisfaction survey★★★★★★★★★★
Stocks and shares ISA available?
FSCS protected?
Costs score★★★★★★★★★★
Keep in mindCapital at riskCapital at risk
More InfoMore 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.

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 InfoMore 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.

  • Winner: Freetrade

Round 2: Financial instruments

DodlFreetrade
Financial instruments score★★★★★★★★★★
Shares
ETFs
Bonds
Funds
Keep in mindCapital at riskCapital at risk
More InfoMore 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.

  • Winner: Dodl

Round 3: Fees

DodlFreetrade
Costs score★★★★★★★★★★
Minimum deposit£25/month or £100 lump sum£1
Standard trading fee£0£0
Best trading fee£0£0
Foreign exchange fee0.25%0.59%
Keep in mindCapital at riskCapital at risk
More InfoMore 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.

  • 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 InfoMore 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 InfoMore 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.

  • Winner: Dodl

Overall winner: Is Dodl better than Freetrade?

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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