Last Updated on Friday, 20 September, 2019 at 12:01 pm by Christian Keszthelyi
Revolut is launching a trading feature to both standard and premium customers in Malta, as well as in 25 other markets, according to a press statement sent to Business Malta.
Standard customers are capped at three free trades per month, while premium customers can carry out eight free trades per month. Any additional trade beyond this limit will be charged at £1 (€1.13 at the time of publication) per trade.
Stock trading was made available to metal customers last month, enabling them to buy and sell 300 US stocks directly from the Revolut app. Revolut Metal customers can now make unlimited free trades per month.
Today’s launch also sees the addition of 150 more UUS stocks for customers to choose from, including companies like Twilio, Worldpay and Groupon. Revolut customers can now access over 450 US stocks and download monthly statements directly from within the app.
Standard, premium and metal customers are charged 0.01% annual custody fee, based on the value of a customer’s portfolio.
Revolut also notes that its users can buy only fractions of a single share, should the per-share price of a company they are planning to invest in — such as Amazon — be so high that they cannot do so. Instant market orders allow Revolut customers to buy or sell a share, or a fractional share, at its current market value with real-time price updates and stock performance data.
“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,” said Andre Mohamed, Head of Wealth and Trading at Revolut.