Is Unreal Engine 4 completely free?

We have to be thankful to the biggest studios using UE4 to build some of their games; ultimately they are the ones paying the bills and allowing UE4 to stay “free to use” and keep on growing fast.
And the best thing is everyone trully gets the exact same software… No feature removal, no enforced degrading splash-screens and no monthly fees. 5% for a deal like this is too good!