Revolut trading review

Our verdict

Our verdict

Investing with Revolut is great for confident beginners that are happy to choose investments themselves. If you’re just starting out and don’t know much about how it works, you’ll be better off with an investing platform or app that offers more support. Many, like Moneybox, let you choose your risk profile and then match you to a ready-made investing strategy, which can be a good way to familiarise yourself with the investment world. Another drawback is that Revolut doesn't let you invest in exchange-traded funds (ETFs), which are a great way for inexperienced investors to build a robust and diversified portfolio without having to delve into the world of stock picking.

Pros

• Buying and holding stocks is cheaper than with most investing platforms
• A decent choice of stocks, but not as many as other platforms
• Opening an investment account is easy and quick on the app
• Buying fractional shares from just £1 can make investing more affordable

Cons

• You can only buy stock in US companies
• You can only open a general investment account (GIA)
• More free trades if you’re on a more expensive paid plan
• No FSCS protection for share trading account
• You don't get any help or advice in setting up your investing strategy, which can be risky for beginners

★★★★★

User survey

★★★★★

Finder score

Popular digital banking brand and general fintech disruptor Revolut lets you invest in over 1,500 US stocks, all at your fingertips. You can even buy fractional shares to make investing more affordable. However, Revolut has 5 tiers, and these can impact how many free trades you can make each month.

To give you some clarity, we’ve done an in-depth dive into the app with our Revolut trading review. We’ll explain the main features, fees and key things you should know when using Revolut to trade stocks.

Is Revolut stock trading legit?

Yep! You can buy over 1,500 US stocks. You can also invest in commodities like gold or silver, along with the ability to trade some currencies (and cryptos).

Revolut’s trading platform is an extension of its existing mobile banking app – so you need to have a Revolut current account open to start trading on the app. The good news is it can take less than 5 minutes to open a Revolut account and start investing (we tried it).

There aren’t any stocks and shares ISAs or self-invested personal pensions (SIPPs) available with Revolut. But our understanding from the team is that extra products and features are in the works.

Features of the Revolut trading account

Some of the key features of Revolut’s trading account are:

• Open an account from your app. You can start trading directly from the Revolut app. You’ll need to be at least 18 and already have a Revolut account.
• Buy shares in more than 1,500 companies. The list includes the likes of Alphabet, Amazon, Tesla, Apple and many more. For now, you can only invest in US stocks.
• Fractional shares. Revolut allows you to buy fractional shares, so you can start with as little as £1.
• Dividends into your Revolut account. If you buy shares in a company that pays dividends, they’ll show up directly in your app.
• Set a watchlist and set price alerts. Keep track of stocks that you’re interested in.

Can Revolut tell me what to invest in?

Revolut can’t tell you what to invest in and doesn’t offer ideas on what to trade, but it does have “collections” of stocks, such as the most popular stocks or groups of stocks by sector. It does offer news and financials for the stock you are looking at.

If you need help picking your investments, it may be worth seeking financial advice or perhaps using a robo-advisor that automates decisions for you.

How to open a trading account with Revolut

To open a Revolut trading account, you need:

• To already be a Revolut account holder
• Be at least 18 years old
• Be a legal resident of the United Kingdom

Setting up a Revolut trading account is easy:

1. Download the Revolut app. You can get it on the App Store or Google Play Store.
2. Provide your phone number. You’ll need to verify it with a code.
3. Provide some personal details. These include your name, email address, home address and date of birth.
4. Verify your identity. You can do this through the app with a passport or ID.
5. Wait for verification. This took under 5 minutes for us.
6. Select the “Stocks” tab. Find this tab at the top of your home screen.
7. Provide a few extra details. You might need to give your national insurance (NI) number and information on your knowledge about investing.
8. Start investing. It’s as simple as that.

How to fund your Revolut account

To fund your trading account, you need to transfer money from your standard Revolut account within the app. You can put money onto Revolut using a bank transfer, credit card or debit card.

You can only hold funds in USD in your trading account, so you might have to convert some pounds first. One bonus is that there’s no minimum deposit required.

What can you invest in with a Revolut trading account?

Exchanges covered score	★★★★★
UK - London Stock Exchange
US - NASDAQ
US - New York Stock Exchange
Canada - Toronto Stock Exchange
Japan - Japan Exchange Group
Euronext
Germany - Deutsche Börse
Keep in mind	Capital at risk
call to action	More Info

Revolut trading fees and plans

Revolut has 5 tiers that determine the fees and number of free trades you can make each month.

Additional fees

• There’s a 0.12% annual custody fee. So if you hold £10,000 worth of shares in your account, you’ll be charged £12 a year, which is charged monthly.
• Commission fee of 0.25% per trade. After you’ve used up your free trade allowance, Revolut charges 0.25% on each transaction.
• Minimum commission of £1. If 0.25% of your order amount comes out to less than £1, Revolut rounds up to this amount.

Is Revolut trading safe?

It is, but the set up for Revolut works differently than with other platforms. We’ve answered some questions below that you should take note of.

Is Revolut FCA-regulated?

Revolut is licensed by the Financial Conduct Authority (FCA) as an electronic money firm. For its trading service, it is not directly regulated, but it partners with a company that is: Resolution Compliance Ltd.

Is my money protected by the FSCS with Revolut?

No. Money held in Revolut’s “Savings Vaults” are covered, but funds in your trading account don’t come with Financial Services Compensation Scheme (FSCS) protection. Client money has to be kept separate from the company’s finances. So if Revolut were to go bust, if it held any money of yours, you’d likely get at least some of it back.

Of course, this does not mean you’re not at risk of losing your money. Investments can go down as well as up, and you may get back less than you invested.

Revolut trading customer reviews

Revolut was in the top half of our table in Finder’s 2023 share dealing customer satisfaction survey, getting 4.5 stars out of 5, with 76% of users saying they’d recommend its service.

One customer said, “Revolut is a great gateway trading site to get your foot in the door.”

Because Revolut trading is part of the overarching Revolut app, it’s hard to separate them when it comes to reviews. But on the App Store, Revolut has an incredible 4.9 out of 5 stars from over 500,000 reviews. On Google Play, the app has an equally impressive 4.5 out of 5 from over 2 million reviews!

And finally, Trustpilot reviewers gave Revolut a commendable 4.3 out of 5 “excellent” rating from over 130,000 users (as of July 2023).

Best for

0% commission

Best for

Beginner investments

Best for

Beginners

BEST FOR

US shares

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Frequently asked questions

• Do I need to pay taxes on the gains I make when I invest with Revolut?

  Yes, you do. Since you’re trading in foreign shares, things are a bit complicated. You’ll need to pay tax on your dividends and deal with withholding tax. If you sell the shares, you’ll also need to pay taxes on your gains.

• Do I need Revolut Premium or Metal to buy shares with Revolut?

  Not necessarily. With a Standard account, which is free, you get up to 1 free trade per month, and it’s £1 each after that. If you trade a lot and the other features are also appealing, it may be worth paying the monthly fees to get Revolut Premium or Revolut Metal – but it isn’t mandatory.

• Can I transfer my existing investment account to Revolut?

  For now, you can’t. Revolut says it’s working on it.

• How do I track my shares' performance?

  The Revolut app tracks your portfolio’s value based on current prices and provides monthly statements.

• Why does Revolut need my NI number?

  It’s a legal requirement for Revolut to ask you to provide your National Insurance number. This is because stocks and shares are usually taxed by HMRC. The tax is called stamp duty reserve tax (or just “stamp duty”).

• Who is Revolut trading good for?

  Revolut trading is good for anyone with a bit of knowledge about investing and who is happy to manage a portfolio themselves. You only get one free trade per month with its free account. So, if you want to do more than this, you must upgrade your account.

• Who owns Revolut?

  Revolut was founded by Nikolay Storonsky and Vlad Yatsenko.

• Can I buy non-US stocks through Revolut?

  Yes. You can invest in some international companies registered in the US using American Depositary Receipts (ADRs). ADRs are negotiable certificates issued by a US depositary bank, representing shares of foreign companies listed on US stock markets.

  Through the power of ADRs, Revolut can offer a wide range of global companies, including Chinese e-commerce giant Alibaba, UK-listed mining company Rio Tinto and Taiwan Semiconductor Manufacturing.

• Does Revolut offer ETFs?

  No. You can’t buy exchange-traded funds (ETFs) through Revolut.

  This is a big drawback. When buying an ETF, you get exposure to a basket of stocks instead of owning shares in just a single company. This is a way to build a diversified portfolio with a single click of a button. In fact, legendary investor Warren Buffett recommends the average person invest their money in an ETF that follows the S&P500 – a list of the 500 biggest companies in the US – rather than stock picking.

  After all, even professional money managers find it difficult to outperform the S&P500 over the long term. Revolut says it is working on adding ETFs to its platform.

• Can I sell my stocks and withdraw instantly?

  You can sell your stocks instantly during trading hours on the New York Stock Exchange (NYSE) and the Nasdaq.

  However, you can’t withdraw your funds until the transaction has settled, which normally takes 2 trading days. On the other hand, you can instantly re-invest your cash proceeds into another stock without waiting for the trade to settle.