Fintech start-ups Revolution deploys stock trading in its application in the United States. The company already allows you to buy and sell shares if you are a UK user. And now Revolut has received approval to become a licensed US broker in the United States
Revolut users will be able to trade 1,100 securities, such as stocks on the New York Stock Exchange and NASDAQ. The company will also offer access to 200 ETFs. As for the features, Revolut offers fractional shares and several order types, such as limit and stop-limit orders.
In the app you will find market charts, a selection of news stocks and information on the top ten stocks of each ETF. Users can also set up price alerts. When you buy and sell an asset, you pay no commission. As with all trading platforms, however, there is a spread between the buy price and the sell price.
In the United States, users can use it as an alternative to a traditional checking account. You can order a debit card, create a virtual card, send and receive money, and save money in a safe.
More recently, Revolut has started to expand beyond payments. In the US, it has partnered with Paxos to launch the ability to trade cryptocurrencies within the app. And now there is stock trading.
Of course, Revolut users in the UK still have access to more features. But it’s interesting to see that Revolut is always releasing new features in the US to create a great financial app that works in multiple markets.
Many consumer fintech companies that started in Europe have abandoned plans to enter the United States. N26 recently announced the cessation of its activities in the United States. Revolut currently has 18 million customers.