Yes, Freetrade allows customers to trade on unsettled cash.
This means that when you execute a sell order, the cash proceeds can be reinvested in your Freetrade app as soon as you like.
However, you can’t withdraw the cash into your bank until it settles 2 business days later. When this happens, the money leaves 'unsettled cash' and goes into your 'withdrawable cash'.
In extremely rare circumstances, Freetrade may implement a temporary restriction on purchasing US securities with unsettled cash. This is simply due to the mismatch created by UK and European stocks having longer settlement timelines than US stocks and internal limits we have around this. We’ll let you know in-app if this ever happens.