Freedom24 bonds suit the European investor who wants multi-currency bond access from a single CySEC-regulated account and trades in larger, infrequent tickets. The catch: only 189 bonds are actually tradeable, commissions are charged as a percentage, and idle cash earns no interest.
For anyone building an individual-bond portfolio, the number that matters is how many lines are actually tradeable with usable quotes — 189 on the Bondfish screener. This review looks at what a European bond investor really gets from that list: the currency reach that is its genuine strength, the percentage fee model, the compensation ceiling, and who is better served elsewhere.
Freedom24 is the European trading brand of Freedom Finance Europe Ltd, a Cyprus-based investment firm headquartered in Limassol and authorised by CySEC since 2015. The European platform launched in 2021 and sits inside Freedom Holding Corp, a group listed on NASDAQ under the ticker FRHC.
The wider group is large — over 7.2 million customers across brokerage, banking and insurance as of end-2025, with the European brokerage arm serving more than 300,000 clients. That scale and the NASDAQ listing give a bond investor a reassuring parent, but the account itself is a Cypriot investment firm, which matters most when you look at investor protection below.
Bonds are not the headline product. Freedom24 is pitched as a broad multi-asset broker, with fixed income sitting alongside stocks, ETFs, options and futures — useful if you want everything in one place, less so if you want depth in bonds specifically.
Bonds are offered from a minimum of around €1,000 per lot and cannot be traded in fractions. Orders route across multiple exchanges and OTC dealers rather than through a single market maker, and it is that multi-venue routing that lets Freedom24 offer bonds across so many currencies.
The practical figure to plan around is 189 bonds actually tradeable with usable quotes. What breadth exists comes from currency, not count: lines are denominated in EUR, USD, GBP, CHF, CAD, AED, HKD, KZT and PLN. For an investor who genuinely wants to hold, say, a Kazakhstani tenge or UAE dirham bond alongside euro paper from one account, that reach is hard to match cheaply elsewhere.
Against peers the trade-off is stark. Interactive Brokers offers a far deeper tradeable list; a domestic European broker will usually beat Freedom24 on euro-bond depth and cost. Freedom24's niche is not "broadest" or "cheapest" — it is "most currencies from one regulated European login," provided the specific line you want is among the 189.
Freedom24 charges a percentage commission rather than a flat ticket fee. Your rate depends on which of its two pricing plans you are on — Freedom24 offers a lower-cost Smart plan (a small monthly subscription) and a subscription-free All-inclusive plan that charges more per trade. On the Smart plan, bonds cost 0.15% per order with a €5 minimum. There are no custody or inactivity fees; withdrawals cost €7. The percentage model means small tickets are dominated by the minimum, while large tickets scale linearly — the opposite of what a flat-fee broker does.
What that means at different ticket sizes:
| Trade size | Commission (Smart plan) | Cost as % of trade |
|---|---|---|
| €1,000 | €5 (minimum applies) | 0.50% |
| €10,000 | ≈ €15 | 0.15% |
| €20,000 | ≈ €30 | 0.15% |
OTC bonds can carry an extra 0.12% plus a $30 depository fee, and the subscription-free All-inclusive plan charges 0.5% per order. Against a traditional bank the Smart-plan rate looks competitive; against a low-cost flat-fee broker it does not. On a €50,000 or €100,000 ticket, 0.15% stops being trivial — a flat-fee broker will be markedly cheaper.
The honest asterisk is that a percentage commission compounds with ticket size while a flat fee does not. Under MiFID II you will see the commission disclosed clearly; the practical takeaway is to run your own ticket size through the 0.15% and compare it against a flat-fee alternative before committing.
A percentage fee is your friend on small tickets and your enemy on large ones — the bigger the bond order, the more Freedom24's pricing works against you.
Trading runs on the Tradernet-based web and mobile apps. Onboarding is fully digital, and the interface supports ISIN and issuer search, with bond pages showing coupon, maturity, price, yield and minimum denomination. Market and limit orders are supported.
Bond-specific analytics are where the platform thins out. There are few tools for yield scenarios, duration or fixed-income portfolio construction, and no full bond screener of the kind a dedicated fixed-income investor expects.
Portfolio reporting is basic, and independent feedback on service depth is mixed. The platform fits an investor who arrives already knowing the line they want to buy; it will frustrate anyone expecting to research and build a bond portfolio inside the tool itself.
Freedom24 is regulated by CySEC under MiFID II, which places it firmly inside the regulated European perimeter. Client assets are held in segregated accounts with partner depositories and European banks, kept separate from the firm's own money.
Protection splits into two layers worth keeping separate:
Because the European account is an investment firm rather than a bank, cash is not covered by the €100,000 deposit-guarantee scheme that a licensed bank carries; both cash and bonds sit under the same €20,000 ICF ceiling. That is a fifth of the €100,000 protection top-tier bank-licensed brokers offer. It is not a red flag against a firm with a NASDAQ-listed parent and clean regulated standing — but for a large individual-bond portfolio, that cap is the single number to weigh most heavily.
Uninvested cash earns no interest. Unlike several European brokers that now pay a rate on idle balances, Freedom24 pays nothing — so cash only works for you when it is invested, and parking money between bond purchases has a real opportunity cost.
Freedom24 operates across the European market with digital onboarding and account managers for support, though independent feedback on service quality is mixed. Tax reporting is manual: you receive statements you can use, but not automated local filing, so the paperwork falls to you or your accountant.
There is no quiet standout here to offset the gaps — no cash interest and no hands-off tax reporting means the account is built for active investing, not for parking capital or minimising admin.
Freedom24 suits an investor who specifically wants multi-currency bond access from one regulated account and trades in larger, infrequent tickets where a percentage fee is bearable and the short list still holds what they want. If you want a euro bond and a US dollar bond and a Swiss franc bond under a single European login, and those lines sit among the 189 tradeable, few rivals match that convenience.
It suits poorly anyone who wants a deep tradeable list, low per-trade cost on large tickets, a productive cash balance, or hands-off tax reporting. Those investors will hit the 189-line ceiling, the percentage fee or the zero-interest cash balance quickly.
How it stacks up when the requirement changes:
| If you want… | Best fit |
|---|---|
| Multi-currency bond access from one regulated European account | Freedom24 |
| A far deeper bond list with low, transparent fees | Interactive Brokers |
| A polished bond platform under tighter regulation | Saxo Bank |
| Cheap trading, cash interest or automated local tax reporting | A domestic broker |
Bondfish complements your broker by screening the full universe of bonds available across major brokers and helping you identify the best opportunities through independent analysis.
Seen through the one lens Bondfish cares about — the European retail investor buying and holding individual bonds — Freedom24's strengths are its multi-currency reach and regulated European standing, while its limits are a tradeable list of 189 lines, percentage-based fees and no interest on cash. Choose it if you specifically want multi-currency bond access from one regulated, custody-fee-free account and the tradeable lines include what you want. Look elsewhere if you need a deep list, low cost on large tickets, a productive cash balance or automated tax reporting. Either way, check the Bondfish screener for your specific bonds and compare the all-in fee against a flat-fee broker for your ticket size before committing.
This article is for general information only and is not investment advice. Bond investing involves risk, including possible loss of principal. Figures such as bond counts, fees, interest rates and protection limits can change — verify current terms with the broker before investing. Consider your own circumstances or consult a licensed financial professional before investing.