Amscot Stockbroking
freetrade
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Overview
Amscot Stockbroking was founded in 1853 and is headquartered in Austrailia, while freetrade was established in 2016 and is based in United Kingdom. Amscot Stockbroking holds licences including Ministry of Economic Affairs and Communications (Estonia), while freetrade is regulated by Financial Conduct Authority. Registered in England and Wales (no. 09797821) among others. Amscot Stockbroking serves 10,000+ clients worldwide; freetrade has 890,000+. The minimum deposit is $500 at Amscot Stockbroking and $0 at freetrade.
| Feature | Amscot Stockbroking | freetrade |
|---|---|---|
| Min. Deposit | $500 | $0 |
| Regulation | Ministry of Economic Affairs and Communications (Estonia) | Financial Conduct Authority. Registered in England and Wales (no. 09797821) |
| Founded | 1853 | 2016 |
| Country | Austrailia | United Kingdom |
| Clients | 10,000+ | 890,000+ |
Fees
Fees are a critical factor when choosing between Amscot Stockbroking and freetrade, directly affecting your bottom line as a trader. freetrade has a lower barrier to entry with a minimum deposit of $0 (vs $500 at Amscot Stockbroking). Amscot Stockbroking charges withdrawal fees while freetrade does not, a notable advantage for frequent withdrawers. Overall, freetrade scores higher on fees in our assessment.
| Feature | Amscot Stockbroking | freetrade |
|---|---|---|
| Min. Deposit | $500 | $0 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Amscot Stockbroking offers MT5, cTrader, while freetrade supports MT4, MT5, cTrader, a proprietary platform. Both brokers provide mobile trading apps for iOS and Android. freetrade supports social and copy trading features, which Amscot Stockbroking does not offer. freetrade edges ahead on platform breadth and functionality in our scoring.
| Feature | Amscot Stockbroking | freetrade |
|---|---|---|
| MT4 | No | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | IRESSTrader,IRESSInvestor,netIRESS,XPLAN | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Amscot Stockbroking and freetrade compare. freetrade runs regular live webinars; Amscot Stockbroking does not. freetrade has a video library; Amscot Stockbroking does not. freetrade publishes daily market commentary; Amscot Stockbroking does not. freetrade integrates third-party research tools (Trading Central, Autochartist); Amscot Stockbroking does not. freetrade maintains an archive of past webinars for on-demand viewing. freetrade scores higher overall in education and research.
| Feature | Amscot Stockbroking | freetrade |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Amscot Stockbroking accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while freetrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). freetrade uniquely supports PayPal and Skrill and Neteller among the two brokers. freetrade scores higher on deposit and withdrawal flexibility.
| Feature | Amscot Stockbroking | freetrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Amscot Stockbroking and freetrade offer live chat support. Both provide phone support. Email support is available at both brokers. Amscot Stockbroking supports 2 languages and freetrade supports 8, giving freetrade broader global reach. Both brokers are comparable on support quality.
| Feature | Amscot Stockbroking | freetrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |