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Review Revolut

Revolut, a UK-based fintech founded in 2015, offers mobile-only banking and low-cost stock trading, focusing on US shares and cryptocurrencies. It’s regulated by SEC and FINRA, but following a recent shift, EEA users are under Revolut Securities Europe UAB with different protection limits. The platform is user-friendly, ideal for beginners, but lacks diverse assets and robust educational resources. Recently, Revolut faced issues like report submission delays and fraud complaints, advising caution for users.

 

Recommended to:

Revolut’s trading platform is best suited for beginner investors and mobile-first users seeking low-cost, simple trading in US shares and cryptocurrencies.

Pros

  • Low fees for Stock trading
  • Simple set up process
  • Outstanding mobile trading platform

Cons

  • Range of offering is limited
  • Research tools are basic
  • Weak customer support

Review’s Keypoints

Country of regulation

UK, Lithuania, USA, Singapore

Minimum deposit

$0

Time to open an account

1 day

Trading fees class

Low

Deposit with bank card

Yes

Number of base currencies supported

37

Products offered

Stocks

ETFs

CFD

Crypto

Depositing with electronic wallet

Yes

Demo account provided

Not available

Fees

Revolut offers low fees for stock trading, but it charges a custody fee, and its trading fees outside a monthly allowance can be relatively high. Below are the most relevant fees for each asset class.

Pros

  • Low fees for Stock trading
  • Inactivity fees are low

Cons

  • High rates for crypto trading

Revolut Costs

Assets
Costs Level
Cost Terms
Assets
US Stocks
Costs Level
Average
Cost Terms
$2.7
Assets
EU Stocks
Costs Level
-
Cost Terms
Not Available
Assets
US Options
Costs Level
-
Cost Terms
Not Available
Assets
EU Options
Costs Level
-
Cost Terms
Not Available
Assets
US Futures
Costs Level
-
Cost Terms
Not Available
  • *** 1000 in EUR or USD for the Stocks transaction
  • *** Price per contract for Options & Futures

Transfers

Revolut allows multiple base currencies, but trading is limited to USD. Converting funds to USD before trading is required, which could be more convenient if done automatically. Deposits are instant with cards but can take days via bank transfer. Internal transfers are instant, but withdrawals to standard bank accounts require bank transfers.

Pros

  • No minimum deposit
  • Several funding options

Cons

  • Trading limited to a single base currency

Trading Platforms

Web Trading Platform

Mobile Trading Platform

Revolut's mobile trading platform is user-friendly, with quick login options like a four-digit passcode or TouchID. It also features a price alert function and available in several languages.

Desktop Trading Platform

Offering

Revolut in numbers

0
European Markets
0
Currencies
0
Daily Exchanges

Stocks and ETFs

You can trade over 1500 stocks available on the NYSE and NASDAQ exchanges. Freetrade has a similar offer, with additional access to the London Stock Exchange. Robinhood has a much wider offering.

Crypto's

Revolut offers Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar Lumens, and Litecoin cryptos. Its crypto offering is not as good as Robinhood’s, but you can still trade the most popular ones. Freetrade doesn’t offer cryptos.

Gold and 'Precious Metals'

In 2020, Revolut launched gold trading for its Premium and Metal accounts, currently offering Gold (XAU) and Silver (XAG), with plans to add more commodities in the future​

Auto Exchanges

You can create watchlists, alerts, converters, and auto exchanges with the ‘Favourites’ Page. The ‘Converter’ allows you to check multiple currencies’ value comparisons and you can set automatic exchanges between currencies with the ‘Exchanges’ feature.

Tools

Revolut gives its users real-time updates on market prices, but it's quite basic in offering deeper research tools. For example, fundamental data analysis is limited, and the platform does not provide trading ideas at all

Charting

Revolut's charting capabilities are quite basic. The platform lacks advanced features like technical indicators and tools for editing trendlines. Users are limited to simple charts that show basic information, including recent changes in stock prices over short periods like the past week

News Feed

Revolut's trading platform includes a news feed accessible from the main trading page and for individual products. When viewing a specific product, the news is tailored to show only information relevant to that product. This news comes from external sources like Zolmax, CNBC, Investing, and Yahoo

Watchlists

Under the Favorites tab (star symbol in the top right corner) you can create Watchlists. They are grouped by asset types – just tap on ‘Add new’.

Regulation

Revolut, a relatively new player in the financial sector established in 2015, operates under strict supervision by top-tier US and UK regulators and possesses a banking license, ensuring robust regulatory compliance. While it doesn’t list its financials publicly, its partnerships for trading services, like with DriveWealth LLC, underline its commitment to offering secure trading experiences. The company adheres to regulations set by the SEC and FINRA in the US, providing a layer of security for its clients. In Europe, its banking license from Lithuania signifies stringent regulatory oversight, further bolstering its credibility as a safe and regulated financial service provider​.

Bottom Line

Revolut offers free US stock trading with an easy, quick online account setup and a user-friendly mobile platform. However, it’s limited to mainly US stocks and some cryptos, lacks extensive research tools and educational materials, and could improve its customer service.

 

Recent challenges, like report delays and fraud complaints, call for cautious use. Ideal for those focused on fee-free US stock trading and seeking a simple mobile trading experience

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