Revolut Trading

New review from Which?

They like the pricing & fractional shares but aren’t keen on the lack of ETFs & other funds, tax wrappers e.g. ISAs or trading more generally so a pretty reasonable review in my opinion.

The story also mentions tax on US dividends and completing a W-8BEN. Surprisingly you can’t do this in Revolut’s app at the moment but they’re planning to let you do that in the future.

In case you missed it, here’s Revolut’s blog post announcing their service -


Seems like an amazing oversight considering how delayed the product was


I think for Revolut the bigger game plan is to enter into U.S. After all Robinhood has 4M users there and it’s easier for Revolut to grab users’ mind share immediately

U.K is not a big market to gain economies of scale, especially when lots of users won’t be revenue generating users anyway

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I agree, it’s not entirely clear what’ll make Revolut stand out in the US besides better user experience and fx conversion / transfers (I don’t believe the latter will be that popular) so I think this’ll be an important part of their offering.

Having said that, it’s going to be hard for them to build a fully featured service & compete with the likes of Robinhood, if it’s buried in a menu tab.

I guess the question is - do they see this as just another product to bolt on to their offering and make a bit of money from or another arm of their business. If it’s the latter then I wouldn’t be surprised to see them move this to a standalone app at some point.


Also GST owns both Robinhood and Revolut… a merger one day??


Just spotted this -

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