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Alternatives to Revolut Trading

Revolut has scrapped unlimited free trades for its Metal customers. If you'd like an alternative, here are some options.

Revolut is a digital challenger bank, known for its slick banking app, but it also allows users to trade stocks and some cryptocurrencies. Revolut users can get a certain number of trades by upgrading their apps to its Plus, Premium or Metal accounts. Revolut announced on 20 June 2022 that it would be scrapping unlimited free trades for its Metal users, a bold move to reduce costs for the company. If you’ve decided that Revolut trading isn’t for you, we’ve found some alternative platforms that offer low-cost or commission-free trading.

Freetrade: Also offers commission-free trading and fractional shares

Revolut TradingFreetrade
Finder rating★★★★★★★★★★
Customer satisfaction rating★★★★★★★★★★
FSCS protected?
Stocks and shares ISA available?
Standard trading fee£1£0
Foreign exchange fees0%0.45%
UK - London Stock Exchange
US - New York Stock Exchange
US - NASDAQ
App
Desktop or web access
Keep in mindCapital at riskCapital at risk
More InfoGo to site
More Info

Freetrade has an equally slick and attractive interface to Revolut, and a lot more investments available. You can’t buy cryptocurrencies, but it does offer fractional shares, which is one of the best things about Revolut trading.

This app-only platform is really easy to use and has a broad range of shares available to trade, including stocks on the London Stock Exchange, the New York Stock Exchange and the NASDAQ. It charges a 0.45% foreign exchange fee, which is less than half the fee that Revolut charges.

You can invest in an ISA for £3 per month and you can also pay more for additional features and a broader spectrum of shares. Experienced or advanced investors may find Freetrade to be a little basic, but if you’re coming from Revolut, you’ll find that it’s a little more comprehensive.

Check out our full review of Freetrade to find out more, including the features available and more information about its fee structure.

Trading 212: Another alternative with commission-free investing

Revolut TradingTrading212
Finder rating★★★★★★★★★★
Customer satisfaction rating★★★★★★★★★★
FSCS protected?
Stocks and shares ISA available?
Standard trading fee£1£0
Foreign exchange fees0%0.15%
UK - London Stock Exchange
US - New York Stock Exchange
US - NASDAQ
App
Desktop or web access
Keep in mindCapital at risk84% of retail CFD accounts lose money
More InfoMore Info

Trading 212 is another good choice, as it’s commission free. It’s got a great interface and is pretty easy to use, but might be a little more overwhelming for beginners. One of the things we like about Trading 212 is that it offers desktop trading, so you can see charts and graphs a lot easier.

With Trading 212, you’re able to use your individual savings account (ISA) allowance. You get an allowance each year, up to which you can invest without paying any tax on your profits. The allowance for the 2021/2022 tax year is £20,000.

You can start trading with Trading 212 with just £1 and it’s got some great educational tools, including a demo account to teach you how to trade.

A huge downside of Trading 212 at the moment is that it has a waitlist for new sign-ups, so if you’re not willing to wait, you’ll have to find a different alternative.

You can check out our full review of Trading 212 if you want to know more.

eToro: An alternative with cryptocurrencies

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.
Revolut TradingeToro Free Stocks
Finder rating★★★★★★★★★★
Customer satisfaction rating★★★★★★★★★★
FSCS protected?
Stocks and shares ISA available?
Standard trading fee£1£0.00
Foreign exchange fees0%0.5%
UK - London Stock Exchange
US - New York Stock Exchange
US - NASDAQ
App
Desktop or web access
Keep in mindCapital at risk78% of retail CFD accounts lose money
More InfoGo to site
More Info

If you liked Revolut for its access to cryptocurrencies as well as shares, you might like eToro. It’s a commission-free platform, but there are additional costs involved, such as for withdrawals and inactivity. There are also charges for trading cryptocurrencies with eToro. We like eToro’s demo account, which lets you try the platform out with virtual funds.

We have a full eToro review if you want to learn more about its features and fees and a separate eToro cryptocurrency review if you want to know more about the assets you can trade and the fees involved.

Bottom line

Choosing an alternative for Revolut will depend on what it is that you use Revolut for at the moment. If you want to trade shares, we think Freetrade is a great choice. Once Trading 212 is taking on new sign-ups, that will be a good choice too. If you want to trade cryptocurrencies, you might like eToro, but you could also compare cryptocurrency platforms if you’d like to find another one.

If you’re still looking for an alternative, you could use our comparison table, which lets you choose features that are important to you to help narrow down your choices.

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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