Buy shares with Revolut: Digital banking app launches share trading feature
You can now buy shares from the Revolut app without paying a commission.
Revolut is launching a commission-free stock trading service that will allow its users to buy shares from more than 300 US companies. The service will be rolled out in the next few weeks, starting with Metal customers.
Revolut launched as a multicurrency card in 2015 and now has more than 5 million customers across Europe. Among its most innovative features is the opportunity to hold cryptocurrencies and transfer money abroad. You can read our full review of Revolut to learn more about how it works.
For now, the new share trading feature will only allow users to buy shares listed on the New York Stock Exchange and the NASDAQ, but Revolut says it’s planning to expand both its list of companies and markets. You’ll be able to buy fractional shares too and invest as little as $1 (around £0.80).
“Investing in the stock market has been closed off for far too long, which has led to real problems for people as they search for effective ways to make the most out of their savings,” said Nik Storonsky, founder and CEO of Revolut.
“We’ve made sure that investing through Revolut is low cost, easy to use and available to everyone, even if they only want to try with very small amounts.”
Investing with Revolut: Fees and charges
Up to a certain limit, trading shares with Revolut will be commission-free. Metal customers will be able to make up to 100 free trades a month; users with a Premium subscription will get 8 and users with a standard free account will get 3. A Metal subscription costs a £12.99 a month, while a Premium one is priced at £6.99 a month.
If you go beyond the monthly limit, you’ll be charged $1 per trade. All users will also have to pay a 0.01% custody fee.
This is a very competitive price, even compared to the cheapest investing platforms available on the market, such as Degiro.
Among its direct competitors, Revolut is the first challenger to have launched an in-house share trading service, but other digital banking apps such as Plum and Moneybox also allow you to invest your savings.