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The start-up Fintech, Revolut, today launches its stock trading feature. This is a feature similar to Robinhood that allows you to buy and sell stocks without any commission. For now, this feature is limited to some Revolut customers with a metal card.
While Robinhood has completely transformed the US retail market in the US, stock buying has not changed much in Europe. Revolut wants to facilitate stock market investments.
After reloading your Revolut account, you can buy and hold shares directly from the Revolut app. For the moment, the feature is limited to 300 US-listed shares on the NASDAQ and the NYSE. The company has announced plans to expand to UK and European equities as well as ETFs.
There is no minimum transaction limit, which means you can buy fractions of shares for a dollar for example. You can see the prices in real time in the Revolut application.
Regarding the costs, Revolut does not charge any fees, but with some reservations. This feature is currently limited to Revolut Metal customers. It currently costs £ 12.99 per month or £ 13.99 per month to become a Metal customer.
As long as you make less than 100 transactions a month, you only pay for your monthly subscription. Any transaction above this limit costs GBP 1 per transaction and an annual fee of 0.01%.
Ultimately, Revolut will roll out equity trades to other levels of underwriting. Revolut Premium will get 8 commissionless transactions per month and Revolut's core users will receive 3 non-commissioned transactions per month.
Behind the scenes, Revolut is badociated with DriveWealth for this feature. This is an interesting addition for existing users of Revolut. You do not need to open a separate account with another company and Metal customers in particular benefit from many free exchanges.
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