Revolut has today announced the launch of the trading feature to Standard and Premium customers in 26 markets.
The roll out will begin in Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, and the UK, with additional markets to be added in the next few weeks.
Last month, Revolut made stock trading available to Metal customers, enabling them to buy and sell 300 U.S. stocks directly from the Revolut app. Today’s launch sees Revolut add 150 more U.S. stocks for customers to choose from, including companies like Twilio, Worldpay and Groupon. Revolut customers can now access over 450 U.S. stocks and download monthly statements directly from within the app.
Standard customers will be able to make 3 free trades per month, while Premium customers will be able to make 8 free trades per month. Any trades thereafter will be charged at £1 per trade. Revolut Metal customers can now make unlimited free trades per month. Revolut charges Standard, Premium and Metal customers a transparent 0.01% annual custody fee, based on the value of a customer’s portfolio.
Investors are often required to buy a minimum of one share in a company. That’s not a problem if the cost of a single share is low, but shares in many popular companies, such as Amazon, can be a thousand dollars each, or more. With fractional shares, Revolut customers can buy a fraction of a single share for as little as $1, which means they still own a piece of the company, albeit a much smaller one.
Instant market orders allow Revolut customers to buy or sell a share, or a fractional share, at its current market value with real-time price updates and stock performance data.
Andre Mohamed, Head of Wealth & Trading at Revolut said:
“We’re delighted to provide even more people with access to the stock market and make financial services more inclusive, innovative and affordable. We’ll continue to build on the trading product, rolling out access to different markets and products in the near future.”