The disruptive banking app Revolut has announced the launch of its trading feature will be made available to Standard and Premium customers in 26 markets. Last month, Revolut rolled out this feature for Metal customers and it has now been expanded.
The markets which will benefit from the new feature are Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, and the UK, with additional markets to be added in the next few weeks.
During last months roll out to Metal customers, 300 U.S. stocks were made available directly through the Revolut app. Today’s announcement sees Revolut add 150 more U.S. stocks for customers to choose from, such as Twilio, Worldpay and Groupon, Finextra reports.
In total, Revolut customers can now access over 450 U.S. stocks and download monthly statements directly from the app.
As an incentive, Standard customers will benefit from three free trades per month, while Premium customers will benefit from eight free trades per month. Further trades will be charged at £1 (€1.13). Revolut’s Metal customers benefit from unlimited free trades per month, while all Standard, Premium and Metal customers will be charged a 0.01 per cent custody fee, based on the value of a customer’s portfolio.
Finextra continues to elaborate that investors are often required to buy a minimum of one share in a company, which is not an issue when the cost of a single share is low. For more popular companies, such as Amazon, one share can be valued at over €1,000. Revolut customers will have the option of fractional shares, being able to buy a fraction of a share for as little as €1.50.
Andre Mohamed, Head of Wealth & Trading at Revolut said:
“We’re delighted to provide even more people with access to the stock market and make financial services more inclusive, innovative and affordable. We’ll continue to build on the trading product, rolling out access to different markets and products in the near future.”