Revolut publicizes a Robinhood-like buying and selling product – TechCrunch


Fintech startup Revolut likes to announce new issues on a regular basis. Regardless that nothing goes reside at the moment, it’s attention-grabbing to see the place the startup is heading. The corporate is engaged on a buying and selling platform for conventional shares with none fee.

You’ll discover inventory from public corporations from the U.Okay. and the U.S., in addition to numerous ETFs and choices. In different phrases, Revolut goes to develop into the Robinhood of Europe.

Whereas American clients have been utilizing Robinhood for years, the remainder of the world has been lagging behind with regards to inventory buying and selling.

You continue to should open an account on a painfully gradual web site and pay a number of euros for each transaction. Some corporations even ask you to ship a letter to create an account. And if you wish to purchase inventory by means of your present checking account, it often prices much more.

Revolut guarantees that you just gained’t pay any fee once you purchase or promote shares. The corporate plans to generate income on margin buying and selling, securities lending and curiosity on money. Sadly, Revolut didn’t say when the function would launch.

Premium subscribers will be capable to check the function first. Ultimately, you’ll additionally get extra perks if you happen to’re a premium subscriber. Buying and selling might be accessible to all Revolut customers in Europe and future markets. The corporate plans to launch within the U.S., Canada, Singapore, Hong Kong, Australia and New Zealand within the coming months.

Revolut’s premium subscription is turning into a form of Amazon Prime for monetary merchandise. You pay £6.99/€7.99 per 30 days and also you get limitless international trade transactions, journey insurance coverage, entry to new options and extra.

It’s clear that Revolut plans on making predictable income on this premium subscription. And possibly the buying and selling platform will make extra individuals subscribe to Revolut Premium.

Moreover, Revolut now formally has 2 million customers. It’s humorous to see that Revolut is saying this new milestone simply days after N26 introduced 1,000,000 customers. Curiously, Revolut has 900,000 customers within the U.Okay., the place N26 has but to launch.

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