Revolut Trading 🦅

[craigthekiwi (Craig)]

Geez, it all feels like this is the Revolut hate group…I’ve been using them for years, and love what they do. I travelled a lot and needed to shift savings between countries. My premium account at a well established city bank charges 2-3% margin on FX. It was a blessing to find someone bring a challenge to this. I also love Freetrade too. I and am enjoying investing through the app. It’s the established banks that have been putting borders of high cost around investing or cheap foreign currency that are the ones you should be all bashing…

As for all the bad press…it happens when you grow and people don’t like that. You make mistakes. You learn. You change and build on this. Freetrade will no doubt likely face some growing pains and challenges from various press in times to come as it moves in to the millions of customers and has to leverage technology further. Journalist are good and getting people on a wagon…

There is plenty of room for these two great, young new businesses to grow successfully and eat away at the old school banking an investment world.

(my two pence worth)

[littlefinger (GT)]

Geez, it all feels like this is the Revolut hate group…I’ve been using them for years, and love what they do.

I’m just jealous that I couldn’t invest in them, I only got to know about them through this community.

I do use them for very limited FX transactions.

[Rat_au_van (Emma)]

Watched Andre’s presentation at the RevRally. Apparently soon after joining them he decided it needed a complete redesign and that’s why it’s taken so long. Spot the irony in that

They haven’t done a real money test yet but that’s happening this week

US stocks are first up, not derivatives. ETFs and other shares added later. As well as fractional shares at some stage

Commission free using the interbank rate, instant trades, real time data.

Standard account holders get 3 trades per month
Premium get 8
Metal get unlimited

Discover tab is very similar to Freetrade

And this plant looks very sad

[Justin (Big Boss)]

I think the plant says it all!

[Rat_au_van (Emma)]

There was much applause from both of the audience

[Rat_au_van (Emma)]

No idea but it sounded like 2

[Rat_au_van (Emma)]

I don’t think it’s good they’re launching without ETFs. A lot of the people will be new to investing and the big, sexy US names like Apple and Tesla will be a temptation, but without ETFs to build a more balanced portfolio it seems a bit irresponsible

[jpc]

Any mention of ISAs?

[Rat_au_van (Emma)]

Not that I saw

1hr 18 in if you want to give it a watch

[Certi.Curti]

Limiting trades per month already put me off.

Will check out their prez incase I’m pre-judging lol

[Rat_au_van (Emma)]

I think it’s a way to drive people to sign up to metal

[Rob14 (Rob N)]

Interesting! Adding derivatives first thing sounds very much like they’re going down the short term trading route (as Adam was expecting). They’ll be limiting free shares to encourage people sign up for metal/premium, which makes sense for the kind of traders that are using derivatives.

[jgt]

Apparently soon after joining them he decided it needed a complete redesign and that’s why it’s taken so long. Spot the irony in that

Brilliant

[littlefinger (GT)]

US derivatives are first up

Where did it say derivatives? on the slide it said Real US stocks.

[Rat_au_van (Emma)]

You’re right, I meant not derivatives, but US stocks. Will edit to clarify

[Certi.Curti]

Thanks, so I assume you have to be a banking customer to invest - it won’t be standalone then?

[Rat_au_van (Emma)]

Yes, you’ll need an account

[Certi.Curti]

great, I’ll save my time watching it - as I just opened a Monzo and have no need for another account

[littlefinger (GT)]

Wondering how they are going zero commissions and FX spot rate.
Are they going to absorb costs?

[Vlad (Vladislav Kozub)]

Are they going to absorb costs?

Probably yes, just as they do with the currency exchange at the moment. Not sure about the sustainability of such a strategy though.