Following this announcement, customers of the company across the EEA will be given the possibility to trade fractional stocks of 70+ European-listed firms and businesses, with a minimum investment amount of 1 EUR. The investment solutions in the European Economic Area are provided by the Revolut Securities Europe UAB.
By leveraging Revolut, the trading process will also be commission-free within allowed subscription plan limits. Furthermore, with access to multiple European-listed stocks, US-traded companies, and Exchange Traded Funds (ETFs), users and clients will be allowed to check the performance of their investments in real-time, with live trading charts, market news, and watchlists within the application.
Customers will also be enabled to set up recurring buys, which is set to allow them to buy stocks or ETFs at a predefined time and frequency. Recurring buys can also improve the manner in which investors reduce the impact of short-term price volatility while enabling them to commit to investing regularly at the same time.
Depending on the plan they are choosing, clients will be enabled to perform 1 (Standard), 3 (Plus), 5 (Premium), or 10 (Metal and Ultra) commission-free trades every month. After the free limit has passed, a variable fee on each type of trade will be applied, consisting of 0.23% and 0.12% for Ultra, with min. 1 EUR. Furthermore, Revolut is set to apply a custody fee of 0.12% annually of the market value of user assets, which will change monthly.
According to the press release, a comprehensive and efficient suite of new investment products is set to be released, including robo-advisor solutions, mutual bonds, funds, and an improved trading platform for experienced traders. Revolut’s latest developments
The UK-based global financial application Revolut had multiple product launches and partnerships in the last couple of months, covering several different geographic areas across the globe.
At the beginning of October 2023, the company announced a share deal with SoftBank in order to eliminate difficulties with its UK license. Following this, the fintech agreed to simplify its overall ownership structure with SoftBank to remove its obstacles and receive a banking license in the market.
According to the press release published at the time, Revolut and its Japanese investor were negotiating for months, as SoftBank demanded considerable compensation for the renouncing of its priority class of shares.
Earlier in the same month, Revolut attracted scrutiny from the UK’s Financial Conduct Authority, over red-flag accounts that were restricted by the National Crime Agency. The company was in talks with the UK’s financial regulator on alleged failures that allowed money and funds to be released from accounts that were previously flagged by the National Crime Agency as suspicious.
The Financial Conduct Authority oversaw Revolut’s payment business and was engaging with the fintech alongside the National Crime Agency. According to the information published by the Financial Times, the failures occurred between July and August 2023, and more than GBP 1.7 million was released from the flagged accounts.
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