Revolut is both a UK and US broker that offers commission-free stock trading.
- Free stock trading with no hidden fees
- No minimum deposit required
- Fast, easy, and fully digitalized account opening
- Excellent mobile trading platform with customizable features
- No inactivity and transaction charges
- Narrow product portfolio-US stocks, cryptos, gold, and silver
- No demo account
The tradable products that it provides include over 800 global shares, commodities, and cryptocurrencies. Unfortunately, popular assets like options, mutual funds, and bonds are not offered on Revolut yet. Additionally, this broker also provides banking and payment services since 2015, when it was established.
Revolut – Who Are They?
Revolut was launched in the UK in 2015 and was offering money transfer and exchange services. However, in 2019, it introduced commission-free stock trading, although you will still pay additional charges based on the trading account you choose.
Revolut regulation is by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) in the US. It is also overseen by the Financial Conduct Authority (FCA) in the UK. On top of it, the broker has a banking license making it safe due to the stringent policies it is subject to compared to standard brokers.
There are four different types of accounts that you can choose from on Revolut; A standard account, which is free with one free stock trade per month. A plus account that costs 2.99 USD with three free stock trades a month. A premium account costs 6.99 USD per month with five free stock trades a month. Finally, a metal account costs 12.99 USD per month with an unlimited number of free stock trades.
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Our Opinion About Revolut
Revolut is a relatively new brokerage firm and has a narrow product portfolio. However, we are impressed with the great features of these products. For example, Its fees are just out of this world. Imagine quickly opening an account, making free deposits, trading at a low cost, and making withdrawals without being charged. All these are on a user-friendly mobile trading platform! Is that not just awesome?
Revolut has drawbacks, though, but we believe they are workable. For instance, there is no demo account for traders looking to test the broker. However, with low charges and no minimum deposit, you will not spend a lot should you decide to take the plunge.
All in all, we are hopeful that Revolut’s plan to access the UK and European shares and add ETFs will soon see the light of day. On our wish list is the inclusion of traditional brokerage account types such as corporate, joint, IRA, or ISA accounts. Either way, though, if you want to trade cheaply on US stock, Revolut is home for you. Look no further.