Free Cancellation means that there is no airline policy will be applied for these kinds of bookings. You will be charged only the admin fee which will be approx EUR 5.00.
Under this facility you are eligible to get the full refund for your confirmed ticket. However, the ticket must be booked on the same working day or if you are cancelling the ticket same day within working hours. After the day of booking airline fare policy will be used to do the cancellation