My Freedom24 Review (8,81%) What I like (and what I don’t)

This is my personal Freedom24 review, where I explore the features, services, and reputation of Freedom24.

TL;DR

In my experience I can tell you that Freedom24 is a trading platform offering a personal assistant and local representation in many European countries, providing support in your native language. They offer interest rates up to 8.81%, but there is an inconvenient €7 fee for cashing out.

What is Freedom24?

Freedom24 is the trading platform of Freedom Finance Europe Ltd, a subsidiary of Freedom Holding Corp (NASDAQ). It grants access to over 40,000 stocks and 1,500 ETFs on major stock exchanges.

What sets Freedom24 apart is its user-friendly proprietary platform combined with expert analysis from Bloomberg-awarded professionals. A curious fact: Freedom24 uniquely offers personalized support with a personal assistant and local representation, providing help in your native language.

In short, Freedom24 blends extensive market access, expert insights, and personalized service, making it a standout choice for investors.

⭕️ Visit the official Freedom24 website

Why so many investors are interested in Freedom24?

Here are my personal reasons to switch to Freedom24:

1. Attractive Interest Rates: The platform offers interest rates up to 8.81%, which is highly attractive for me to maximize my returns.
2. Comprehensive Market Access: Freedom24 offers access to over 40,000 stocks and 1,500 ETFs across major global stock exchanges, providing a wide range of investment opportunities.
3. Expert Analysis: Investors benefit from insights and analyses provided by Bloomberg-awarded market professionals. This expert guidance helps investors make informed decisions, enhancing their investment strategies.
4. User-Friendly Platform: The proprietary trading platform is designed for ease of use, catering to both novice and experienced traders. Its intuitive interface makes trading more accessible and efficient.
5. Personalized Support: Freedom24 stands out by offering personalized support, including a personal assistant and local representation in various countries. This ensures that investors receive assistance in their native language, improving the overall user experience.
6. Curiosity and Convenience: Many investors are drawn to Freedom24 out of curiosity and the convenience it offers. The combination of expert support and a user-friendly platform makes it a practical choice for those looking to simplify their trading experience.

Real Pros and Cons of Freedom24 trading platform

Cons:

1. Cash Out Fee: A €7 fee for cashing out, which can be seen as inconvenient.
2. Complexity for Beginners: Despite the user-friendly interface, the wide range of options might be overwhelming for complete beginners.
3. Limited Physical Presence: While there is local representation, the physical presence is still limited.
4. Potential Hidden Costs: As with many trading platforms, there might be other fees or costs that are not immediately apparent.
5. Market Risk: Like all trading platforms, investments are subject to market risk and can result in financial loss.
6. Customer Service Variability: The quality of customer service can vary depending on the country and local representation.

Pros:

1. Comprehensive Market Access: Access to over 40,000 stocks and 1,500 ETFs on major global stock exchanges including in the US.
2. Expert Analysis: Insights and analyses from Bloomberg-awarded market professionals.
3. Attractive Interest Rates: Offers interest rates up to 8.81%, appealing to those looking to maximize returns.
4. Personalized Support: Personal assistant and local representation providing support in your native language.
5. Convenience: Combination of expert support and a user-friendly platform makes it a convenient choice for many investors.
6. Innovative Features: Continuous updates with new features keep the platform competitive and appealing.

Availability and Regulation

Freedom Finance Europe operates across a broad spectrum of countries, primarily within the European Union and select additional nations.

Its availability spans Austria, Belarus, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Qatar, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Thailand, and the UAE.

The platform is regulated by the Cyprus Securities and Exchange Commission (CySEC), ensuring adherence to strict financial standards and regulatory compliance.

Additionally, as part of the international NASDAQ-listed Freedom Holding Corp., Freedom24 is subject to U.S. Securities and Exchange Commission (SEC) regulations. This dual oversight from both CySEC and the U.S. SEC underscores Freedom24’s commitment to maintaining high levels of transparency, security, and investor protection.

Freedom 24 Online Reputation

Freedom24 has garnered a solid reputation among investors, reflected in its impressive score of 4.3 out of 5 stars on Trustpilot, based on over 280 reviews.

Positive Feedback:

- Personalised Customer Support: Many users commend the platform for its responsive and helpful customer service, which enhances their overall trading experience.
- D-Account with High Yield: The D-account, known for its attractive interest rates, is a standout feature that appeals to investors seeking better returns on their deposits. At the time of writing Freedom24 is offering up to 8,81% interest on 12 months fixed-term investment. Read more about how the Freedom24 D Account works.

Criticisms:

- Withdrawal Fee: Some investors have expressed dissatisfaction with the €7 fee for withdrawals, viewing it as an unnecessary cost.

-Last year, a group of US traders attempted to short the stock price of Freedom Holding Corp (FRHC), the parent company of Freedom24, but their efforts were unsuccessful.

Overall, Freedom24 is well-regarded for its customer support, high-yield account options though some investors are cautious about the withdrawal fee and ownership structure.

See Freedom24 website by yourself

Safety and Security

Photo by Andrej Sachov on Unsplash

Freedom24 is committed to providing a safe and reliable trading environment for its users, supported by robust regulatory oversight and advanced security measures. It can’t be otherwise if you operate in Europe.

Regulatory Compliance:
Freedom24 operates under the stringent regulatory frameworks of the Cyprus Securities and Exchange Commission (CySEC) and the U.S. Securities and Exchange Commission (SEC). This dual regulation ensures that the platform adheres to high standards of financial transparency, accountability, and investor protection. Vision Financial Markets llc and Euroclear are those who send investor’s orders into the markets.

Advanced Encryption Technology:

Freedom24 hass never been attacked and it has never lost users data so far.
The platform utilizes state-of-the-art encryption technology to secure sensitive data and financial transactions. This ensures that all user information is encrypted and protected from unauthorized access, maintaining the confidentiality and integrity of personal and financial data.

Rigorous Authentication Protocols:
Freedom24 employs rigorous authentication protocols to safeguard user accounts. These include multi-factor authentication (MFA), which adds an extra layer of security by requiring multiple forms of verification before granting access. This minimizes the risk of unauthorized account access and enhances overall security.

Investor Protection:
Client funds are safeguarded by the Investor Compensation Fund (ICF), which provides coverage of up to €20,000 per investor. This protection ensures that, in the unlikely event of the company’s insolvency, clients have a safety net for their invested funds.

In summary, Freedom Finance Europe combines strict regulatory compliance, advanced encryption technology, rigorous authentication protocols, and investor compensation to create a secure and reliable trading platform. These measures collectively provide a strong safeguard for users’ data and funds, ensuring peace of mind for investors.

Trading Account and Features

Freedom24 offers versatile account options and robust features to cater to different investor needs.

Account Types:

Trading Account:

Direct access to 15 major stock exchanges worldwide, including NYSE, NASDAQ, and LSE. Suitable for active traders looking to buy and sell various financial instruments.

Money Placement Plan:

Designed for passive investors focusing on capital preservation and steady returns.

Offers higher interest rates compared to traditional savings accounts so that they might be considered safe investments.

Financial Instruments:

• Stocks: Thousands of individual stocks from various sectors.
• ETFs: Wide selection of exchange-traded funds for diversified exposure.
• Bonds: Government and corporate bonds for fixed income.
• Futures and Stock Options: Derivatives for advanced trading strategies.
• Savings Plans: High-yield savings plans for secure growth.

Platform Features:

1. User-Friendly Interface: Intuitive and easy-to-navigate, suitable for all experience levels.
2. Real-Time Market Access: Live quotes, charts, and market news for timely decision-making.
3. Research and Educational Resources: Market analyses, investment tutorials, webinars, and expert articles.
4. Mobile Trading: Full-featured mobile app for trading on the go.
5. Customizable Dashboard: Personalized trading dashboard for a tailored experience.
6. Customer Support: Personal assistant and multilingual support for account and technical assistance.

Savings Account and Investment Options

Freedom24 provides a variety of savings and investment options designed to maximize returns and cater to different investment strategies.

Savings Accounts up to 8,81%

Freedom24 offers a savings account with competitive interest rates, enabling investors to earn interest on their uninvested funds. This feature is automatically available to all investors who open a trading account with Freedom24, providing a seamless way to grow idle cash, even small amounts.

Money Placement Plans

As an investor here I can engage in open-term money placement plans that offer attractive interest rates. These plans provide flexibility, allowing investors to place their money for varying durations without being locked into long-term commitments. The competitive rates make these plans an appealing option for those seeking steady returns with minimal risk.

Investment Options

Freedom24’s platform extends beyond conventional savings accounts, offering a wide array of investment options to suit every strategy:

- Stocks: Access to over 40,000 individual stocks from major global exchanges, allowing for diversified equity investments.
- ETFs: A vast selection of exchange-traded funds that provide exposure to various sectors, geographies, and asset classes.
- Bonds: Government and corporate bonds available for those looking for fixed-income securities.
- Futures and Stock Options: Derivative instruments for advanced trading strategies and hedging.

Fees and Service Plans

Freedom24 offers a transparent fee structure, ensuring that investors understand the costs associated with their trades and investments.

Trading Fees:

• Per Share/ETF Fee: The platform charges a competitive fee starting at €0.008 per share or ETF.
• Per Order Fee: Each order incurs a fee of €1.2, making it easy for investors to calculate their costs per transaction.

Account Fees:

• No Account Fees: Freedom24 does not impose any account maintenance fees, providing greater flexibility and cost-efficiency for account holders.

Withdrawal Fees:

• Flat Withdrawal Fee: A flat fee of €7 is charged for each withdrawal, regardless of the amount withdrawn.

Service Plans

All Inclusive in USD

• Monthly Fee: $0
• Personal Manager Support: Included
• Stocks and ETFs (US/Europe):
• Commission per share: 0.5% + $0.012
• Per order: $1.2
• Stocks and ETFs (Asia):
• Commission per share: 0.25%
• Per order: 10 HKD
• USA Stock Options:
• Per contract: $3
• Per order: $10
• Margin Lending per Day: 0.04109500%
• SMS Notification: $0

Prime in EUR

• Monthly Fee: €0
• Personal Manager Support: Included
• Stocks and ETFs (US/Europe):
• Commission per share: 0.25% + €0.012
• Per order: $1.2/€1.2
• Stocks and ETFs (Asia):
• Commission per share: 0.25%
• Per order: 10 HKD
• USA Stock Options:
• Per contract: $1.5
• Per order: $5
• Margin Lending per Day: 0.04931500%
• SMS Notification: €0.05

Smart in EUR

• Monthly Fee: €0
• Personal Manager Support: Not included
• Stocks and ETFs (US/Europe):
• Commission per share: 0.02 €/$
• Per order: 2 €/$
• Stocks and ETFs (Asia):
• Commission per share: 0.25%
• Per order: 10 HKD
• USA Stock Options:
• Per contract: $0.65
• Per order: $0
• Margin Lending per Day: 0.04931500%
• SMS Notification: €0.05

Other Commissions

• OTC Trading:
• Brokerage fee: 0.12% of the trade volume
• Depository fee: $30 per calculated trade

These service plans offer flexibility for different trading volumes and investment needs, from occasional traders to high-volume investors. Choose the plan that best suits your trading habits and financial goals.

Additional Services:

• Personal Assistant: Each account holder receives personalized support from a dedicated personal assistant, enhancing the overall user experience. He won’t tell you how to invest, but it can be very helpful.
• Educational Resources: Freedom24 offers a wealth of educational materials, including market analysis, webinars, and tutorials to help investors make informed decisions.

Alternatives to Freedom24

Here are some of my best alternative options with unique features and benefits:

Interactive Brokers

• Pros: Low margin rates, extensive research tools, global market access.
• Cons: Complex for beginners, inactivity fees, higher minimum deposits.
• See how Freedom24 compares to Interactive Brokers.

eToro

• Pros: Social trading, zero commission on stocks, user-friendly interface.
• Cons: Higher fees for non-stock assets, withdrawal fees.

Degiro

• Pros: Low trading fees, global market access, wide range of assets.
• Cons: No forex or cryptocurrency trading, limited research tools.

Scalable Capital

• Pros: Low trading fees, free savings plans, competitive interest rates, automated investment management.
• Cons: Limited to European markets, fewer advanced trading tools.

Each platform offers distinct advantages, so consider your specific investment needs when choosing an alternative to Freedom24.

How to Contact Freedom24 Customer Service?

The customer service team can be reached via email, telephone, or ticket.

I have tried, It worked.

Here’s how you can get in touch:

• Email: Contact us through the email provided on the Contact Information page.
• Telephone: Call us at the number listed on our contact page.
• Online Request:

1. Navigate to the Member Area.
2. Click on “Chat with Support.”
3. Select “Requests & suggestions.”

Additionally, you can find the physical address of Freedom24’s representative offices in many countries at the bottom right corner of the homepage.

Is Freedom24 trusted?

Yes, Freedom24 is trusted. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the U.S. Securities and Exchange Commission (SEC), ensuring compliance with stringent financial standards.

Who is the Freedom Holding Corp CEO?

Timur Turlov is the CEO and founder of Freedom Holding Corp. He has been leading the company since its inception, driving its growth and expansion into various international markets. Turlov has a background in finance and investment, and under his leadership, Freedom Holding Corp has become a significant player in the financial services industry, particularly in Europe and Central Asia.

Is Freedom24 legitimate?

Yes, Freedom24 is legitimate. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the U.S. Securities and Exchange Commission (SEC), ensuring it adheres to strict financial and operational standards.

Is Freedom24 better than eToro?

It depends on your needs. Freedom24: Better for access to a wide range of stocks and ETFs, high-yield savings accounts, and personalized support. eToro: Better for social trading, a broader range of assets including cryptocurrencies, and a user-friendly interface.

What happens if Freedom24 goes bust?

If Freedom24 goes bust, client funds are protected by the Investor Compensation Fund (ICF), which covers up to €20,000 per investor. This compensation helps to ensure that investors can recover some of their losses in the event of the company’s insolvency.

Is Freedom24 d account safe?

Yes, the Freedom24 D-Account is considered safe. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the U.S. Securities and Exchange Commission (SEC), ensuring compliance with stringent financial standards. Additionally, client funds are protected by the Investor Compensation Fund (ICF) up to €20,000 per investor, providing an extra layer of security.

Is the 10,000 demo account to review Freedom24 real?

Yes, Freedom24 offers a $10,000 demo account for users to review and familiarize themselves with the platform. This demo account provides virtual funds, allowing users to explore the features, execute trades, and experience the platform’s functionality without risking real money. It’s an effective way for potential investors to assess the trading environment and tools offered by Freedom24 before committing actual funds.

Conclusion and My Final Thoughts

Freedom24 is a reliable trading partner for me, offering a wide range of tradable instruments and competitive savings interest rates. The platform caters to all types of investors, from beginners to professionals, with its intuitive design and robust features.

However, it’s worth noting that some investors may find the €7 withdrawal fee and the platform’s complex fee structure to be drawbacks. Additionally, concerns about the company’s foreign ownership could be a consideration for some.

Despite these issues, Freedom24’s unique offerings, including expert market analysis, educational resources, and direct access to 15 major global stock exchanges, make it a compelling option for those looking to invest wisely. Overall, while there are a few areas that could be improved, Freedom24 provides a comprehensive and supportive environment for investors.

Go to Freedom24 broker

⚠️ Disclaimer: Investments in securities and other financial instruments always involve the risk of loss of your capital. The value of your investments can fluctuate, and you may not get back the full amount you invested. Forecasts or past performance are not guarantees of future results. Consider your investment objectives, experience, and risk tolerance carefully before making any investment decisions. Seek advice from an independent financial advisor if needed.