Revolut, a London-based fintech firm, launched a commission-free stock exchange service in Europe on Thursday, enabling its clients to invest in three hundred equities listed on the New York Stock Exchange (NYSE) and Nasdaq, the second-largest US stock exchange. In a communication to MTI.
Revolut is gradually introducing the service, first making it available to Metal cardholders, and then making it available to all its customers in the coming weeks.
Revolut Metal customers can make 100 free transactions a month, Premium customers eight and Standard customers three. Revolut charges you £ 1 per transaction for over-the-counter trades and an annual deposit fee of 0.01%.
Transactions are supported by Revolut with real-time price updates and market performance data. The list of available companies will expand, and Revolut plans to continue to make additional shares available.
For investment, Revolut does not set any account limits and offers its customers the opportunity to buy fractions of shares for as little as $ 1.
Revolut is continuously improving its investment services with planned features such as access to UK and European equities. The plan is to upgrade the investment service globally so that Revolut users outside the European Economic Area can benefit from it in the future.
Revolut was launched in July 2015 by two former investment banks Credit Suisse and Deutsche Bank, Nik Storonsky and Vlad Yatsenko, as a digital alternative to big banks. It already has more than six million customers, including tens of thousands of Hungarians. As of May, you can top up your accounts with Revolut in HUF.
Initially, the company attracted customers by being able to transfer and spend money with Revolut at interbank rates. Since then, it has provided services such as spending reviews, budget control, savings, or even changing cryptocurrencies.