The film has a magic theme, with four young illusionists using their tricks as a cover to rob the rich and give that stolen money to people who really need it.
Freeman plays a magic skeptic and Caine takes up the role of a shady, but wealthy entrepreneur.
"To be a real scumbag is fantastic for me," Caine said. "I really like doing it because I've met lots of them in my life."
The acting veterans leave the illusions to the rest of the cast, and the magic is impressive.
"They're not done with CGI, and in this movie for a couple of tricks, they actually show you how they did it, it was part of the story," Caine said. "They reveal this incredible trick. I sat there astonished - and I'd read the script."
Caine and Freeman have hundreds of credits to their respective resumes. But their projects together have spawned a feeling of mutual admiration.
"I've been watching Sir Michael since 'Zulu,'" Freeman said. "I've been watching him with great enjoyment for his entire movie career, and when you really enjoy watching them and you're an actor, you do what they do, you want to be able to do it with them at some point. So yes, I feel like I'm in the sandbox when I'm with him."
"And vice versa," Caine added.
Freeman has five films in the works and Caine has four.