…customers can make up to 100 commission-free trades per month in over 300 U.S. listed stocks on the New York Stock Exchange and NASDAQ with real-time prices and stock performance data. Any trades thereafter will be charged at £1 per trade. Trades with Revolut are instant, with a 0.01 percent annual custody fee and no account minimums.
$1000 limit per trade? funny. but it’s impressive how Revolut is growing. I really don’t understand why they only offer a mobile app. Is a wep app so hard to maintain?
And now, the company is launching a commission-free share trading platform, allowing anyone to invest in listed companies, without paying steep fees. Revolut also wants to let users purchase other instruments like ETFs (exchange traded funds) and options. Essentially, it’s trying to copy and paste the formula that made Robinhood a success in the United States, and bring it to its European heartland, where the lion’s share of its two million users are based.
I also read on a CNBC article that they plan “to add U.K. and European stocks, exchange-traded funds and stocks and shares ISAs over time.”
But they can’t provide US ETFs to most of the European market, do they want to also cover EU listings (if so would be surprised if it’s commission free).
We currently offer trading to legal residents of the European Economic Area (EEA) and Gibraltar. The EEA includes: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.
We are planning to launch in other countries around the world including the USA, Canada, Japan, Singapore, Australia, and New Zealand.
I guess the difference is that you clearly know what company you are buying when you buy a single stock. While when you buy a fund you have to trust the shady things that the managers might do with your money. Maybe the EU should add an exception for passive funds, since there is not much unclarity for the investor.
I don’t really believe that this regulation is made in the true interest of the investor. As GDPR is not in the interest of the consumer. They are all a series of protectionist bureaucratic measures taken by the EU.
I‘m not really sure you could reliably say that for every possible passive fund.
What is (the definition of) a passive fund anyway? One that follows an index? How is that index constructed? For instance, do passive index funds tracking a volatility index (VIX ETFs) really leave only little unclarity for the investor?
To me it’s not hidden at all, it’s written in the 4th paragraph quite clearly. Besides 0.01% being neglectable really. Other factors count way more imv.
Like the question do they sell your order stream to HFTs, security, supported markets/instruments, support etc. Revolut is more of a toy in those regards compared to IB or similar
If you want to trade commission free stock trading then trading 212 would be a possibility. I haven’t tried this myself, but I’ve heard only good things from friends.
trading 212 will certainly not be able to beat IB in terms of availability and price.
And whether they have US-ETFs like VT, I doubt. But for individual stocks it could certainly be a consideration.
There is also Degiro witch is still quite user friendly, but can’t do US-ETFs either. And is more expensive than IB.
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