Revolut, the global financial super app with more than 28 million retail users, has announced the launch of its share trading services in the European Economic Area (EEA). Thanks to the successful work of the sales unit in Lithuania, the company is now able to offer its US promotions to customers in Belgium, Germany and Italy.
Revolut’s trading platform is becoming increasingly popular among investors interested in trading US stocks. From Apple to Zoom or Tesla, users can discover more than 1,000 different stocks, which will increase to 2,200 in the coming months. Stock trading on the Revolut platform requires an account deposit of only $1, making the service accessible to everyone. With a handy app, users can see the real-time performance of the stock they are interested in on online watchlists, trading charts and market news.
For those with no prior trading experience, Revolut offers a six-lesson course that will help you familiarize yourself with the basics of investing and trading before building a portfolio in the app. To find this course, users need to go to the Management Center section of the Revolut app and select the Training section.
Rolandas Juteika, Head of Wealth and Trading (EEA) at Revolut, says: “In addition to US-listed stocks, we will soon be able to offer a range of other investment products, including exchange-traded funds (ETFs), EEA-listed stocks, mutual funds, bonds, Robo digital advice platform services and a more sophisticated trading platform for advanced traders.”
In 2021, the fully functioning European trading unit Revolut Securities Europe UAB obtained a category B financial brokerage company license from the Bank of Lithuania. Existing users of trading services who are residents of the EEA will be transferred to the new European trading unit and will be notified in the coming weeks.
Depending on the plan, users can make 1 (Standard), 3 (Plus), 5 (Premium) or 10 (Metal) trades per month for free. Once the free trade limit is reached, customers will pay a variable fee of 0.25% (min. $1) for each subsequent trade. Revolut also applies a custodial fee of 0.12% USD per year, which is calculated on the market value of the user’s assets, it is charged monthly.
