There are about 3,700 companies in the US, I doubt all of them are being offered
Good point @Vlad. My apologies as I checked only few random companies and I found all of those so thought they are providing all the US companies. You are right as the list is not including 3000+ stocks.
Here is an attachment for some of the companies in ascending order
At least they didnāt copy the hilarious descriptions
The humorous definitions are sorely missed, seems to lack a brand tone of voice
Depends on how people use their accounts etc. It might not take away current FT users who are pretending to be Warren Buffett but I guess theyāre more interested in getting some of the other 5.9m customers who arenāt already on FT. I guess even these people here might use it a tiny bit for a single instant free buy/sell option but thatās unlikely to take much away from FT
Personally I only invest in 3 ETFs here so technically I could make it work when ETFs are added but I like the flexibility in paying in chunks throughout the month rather than once per month per ETF. Having said that if they added some ETF I was interested in that FT didnāt have adding at that time then I would simply use Revolut for that 1 ETF and split investments between here & there.
Also their goal is to convince more to pay for memberships by adding extra perks like how Amazon does with Prime
Someone mentioned Revolut will keep 30% of dividends for tax, does FT do the same?
Itās because they havenāt added the ability to fill out a W8-BEN form yet.
Is the form needed for £ based ETFs like VWRL?
Nope, that is the form that declares you are not a US citizen and only pay 15% withholding tax on US companiesā dividends rather than 30% Revolut customers do. It is taken at source so you do not ever need to concern yourself about it.
But an ETF like VWRL will have US dividends + other countries combined, no?
You will not benefit from reduced tax rate because it is paid by the ETF administrator and they will deal with other countriesā tax legislation on your behalf. All they need to know is that you are a UK resident for tax purposes, meaning the same rules will apply to all of us.
In a nutshell, all taxes will have been paid for by Vanguard before they announce and distribute the yield
Wow thereās a waiting list for a bank account that costs Ā£13 a month?!?
During the initial rollout, yes. Demand far outstripped supply. Not anymore.
Not the case anymore! They are desperate to get people to sign up. Personally donāt think itās worth it with the free account doing everything I need in terms of FX and Freetrade the superior and cheaper offering for trading and investing.
For now. Itāll be interesting to see how the two look in 6 months time
Does anyone have a full list of the 300(ish) US stocks Revolut are offering? Curious to see which US stocks theyāve gone for. Iād assume the 300 biggest market cap stocksā¦and a few Tech darlings - but Iād love to see an actual list⦠anyone?
There are a couple of things that people are missing. First they are going to offer only 3 free trades per month to their basic members, if you want to have up to 100 you have to pay £7 a month. Currently you can use their platform only if you are paying £13 a month. They also have a 0.01% annual fee. It is not a lot, but it is still something that is going to impact your portfolio in the long-run.
Also no one knows how their customer support is going to be, how are they going to handle executing orders and deal with problems/complaints etc.
Still I think that Robinhood and Revolut are a game on for Freetrade. They need to roll out fractional shares and their investment platform before Robinhood launches in the UK otherwise it is going to be really hard to keep their current customers on the platform and acquire new ones.
I hope they handle dividends terribly. As from what Iāver heard FT do a great job
The annual fee of 0.01% is negligible compared to the FT commission of 0.45% for each leg of a non-UK trade.
The 0.01% custody fee is clever pricing, by introducing it now it makes it easy for them to raise it once they build up enough AUA. (This wonāt happen soon however).
The 0.45% FX at FT doesnāt go to FT itās what the market maker charges. FT said that when they have the new platform theyāll have control of this and charge around Transferwise levels.