Revolut Free Trading Tweet? 🦅


#1

What’s all this about? :thinking: I was expecting Revolut Wealth but this tweet alludes to something more directly competitive for Freetrade:



Revolut to launch commission-free share trading service
New competitors: Invstr and dabbl
(Tommy Lowe) #2

:eyes: can’t find anything more about it in the twittersphere, any community members at Money 2020 and can give us some more info?


#3

Looks like Revolut are trying to be/do everything …


#4

:unicorn: juggernauts


(Chris) #5

Revolut = Nineties Microsoft with almost none of the clout.


(Vladislav Kozub) #6

Freetrade is yet way ahead with FCA approval, registered as an LSE member with CREST stuff sorted and HMRC’s ISA approval, being about to launch (in fact, operational as of last couple of weeks, but with just a few users).

Given Revolut’s size, it may take over a year (if not more) for them to create the basic ground for securities trading, by which Freetrade will have become viral.

Also such dilution of services by one provider is very risky and whilst can be prosperous, can also be disastrous.

Wish Revolut luck with whatever they do except stock broking :smiley:


#7

Same :joy:

Also, agree Freetrade are in the processs of launching with domestic advantages but what concerns me is what I don’t know about what Revolut have been working on behind the scenes e.g. just exactly where are they in their development cycle with this. Is it just an idea, what’s its scope, is it to be launched this year? Etc.


#8

Probably piggybacking off Robinhood. Can’t imagine DST Global being okay with direct competition between two of their biggest fintech plays.


(Christopher) #9

Maybe this is less about Revolut and more about DST’s strategic investment and getting maximum bang for their рубль.

It would make sense to leverage each business’ strengths. In the case of Revolut, it’s brand awareness and customer engagement across the EU, and in the case of Robinhood, it’s trading backend and market access.


(Christopher) #10

Pipped me to it @saf!


#11

Maybe their 2020 plan is to buy Freetrade at £5 billion …


(Vladislav Kozub) #12

What the hell is DST? Daylight Saving Time? Defence, Science and Technology? Drive Self Test? I am only curious since you are an unprecedented user of Cyrillic just for me here and I am now curious what you are referring to :smiley:


(Aris David) #13

Revolut is trying to do everything. Good luck being Jack of All trades master of none. Will be cancelling my premium with them (I got duped into premium due to crypto i can only blame myself), i’m locked in for 12 months now.


(Vladislav Kozub) #14

Try to see the positive side of it - by the end of these 12 months, crypto is likely to be offered by Freetrade :sunglasses:


(Tommy Lowe) #15

DST Global - Venture capital


(Christopher) #16

Donut Sorting Te…Dynamic Salad Toma… , Digital Sky Technologies actually! Apologies for omitting the ‘Global’ @Vlad


(Tommy Lowe) #17

Don’t Sell Tommy!


(Vladislav Kozub) #18

Russians decided to invade Europe financially? :thinking:


(Tommy Lowe) #19

“Zero commission trading”


(Christopher) #20

@adavid you can cancel premium for a fee*

*T&Cs apply (!)