Revolut, the online bank with more than 35 million clients worldwide, has expanded its investment offering in the European Economic Area (EEA) to include European-listed stocks.
Revolut users now have access to more than 70 European-listed stocks, more than 2,200 U.S.-listed companies, and more than 150 exchange-traded funds (ETFs). At the same time, investments in European companies can be made with as little as 1 euro. In addition, the bank points out that trading will be commission-free within approved subscription plans.
Revolut users on the app will be able to check the performance of their investments in real time with watch lists, trading charts, and market news, according to the company's website.
A recurring purchase customization feature has also been added, which allows users to buy stocks/ETFs at a pre-determined time and interval (frequency), daily, weekly, or monthly, significantly reducing the impact of short-term price volatility.
"We continue to make the investment space more accessible for everyone by starting to add some of the largest European-listed companies to our trading platform. We want to give our customers easy access to companies that are closer to them. From Adidas to Zalando, our customers can now invest in well-known European names, and we will soon expand this list further," said Rolandas Jutejka, Head of Wealth and Trading (EEA).
Revolut also announced new investment products coming soon, including robo-advisor services, mutual funds, bonds, and a more sophisticated trading platform for experienced traders.
Revolut's trading fee structure depends on the plan chosen. Users can make 1 trade (with the Standard plan), 3 (Plus), 5 (Premium), or 10 (Metal and Ultra) commission-free trades per month. Once the free limit is exceeded, a variable commission of 0.25% (0.12% for Ultra) per transaction, minimum €1, will be charged. A monthly custody fee of 0.12% of the market value of the user's assets is also charged.
Investment services in the EEA are provided by Revolut Securities Europe UAB (Revolut).
