Revolut Trading šŸ¦…

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

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:eyes: canā€™t find anything more about it in the twittersphere, any community members at Money 2020 and can give us some more info?

Looks like Revolut are trying to be/do everything ā€¦

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:unicorn: juggernauts

Revolut = Nineties Microsoft with almost none of the clout.

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

Given Revolutā€™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:

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Same :joy:

Also, agree Freetrade are in the processs of launching with domestic advantages but what concerns me is what I donā€™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, whatā€™s its scope, is it to be launched this year? Etc.

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Probably piggybacking off Robinhood. Canā€™t imagine DST Global being okay with direct competition between two of their biggest fintech plays.

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Maybe this is less about Revolut and more about DSTā€™s strategic investment and getting maximum bang for their руŠ±Š»ŃŒ.

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

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Pipped me to it @saf!

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Maybe their 2020 plan is to buy Freetrade at Ā£5 billion ā€¦

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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:

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

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DST Global - Venture capital

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Donut Sorting Teā€¦Dynamic Salad Tomaā€¦ , Digital Sky Technologies actually! Apologies for omitting the ā€˜Globalā€™ @Vlad
https://www.crunchbase.com/organization/digital-sky-technologies-fo

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Donā€™t Sell Tommy!

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Russians decided to invade Europe financially? :thinking:

ā€œZero commission tradingā€

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@adavid you can cancel premium for a fee*

*T&Cs apply (!)

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We must factor in the incredible effort the Freetrade team made in doing this all on a shoestring seed budget of Ā£1m in 18 months. Imagine what the fastest EU fintech Unicorn can do with more money. Also, when Freetrade rolls out it will essentially be in beta because it will only offer U.K. stocks to begin with & unroll the universe from their. Hopefully, Freetrade now has more impetus to rollout before Revolut try muscle in on our patch.

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