Revolut Trading 🦅

[engineer]

@finki

Any one have a list of these “450 US companies” ???

Check out this update from @Freetrade_Team :

Over 500 securities on your Freetrade app!

[Medium%20(1)] And here’s how we’ll scale to thousands Since the very beginning of Freetrade, our aim has been to grow our securities universe and offer a variety of them from around the world. It’s also been the no.1 request from our community: “More stocks and ETFs please!” Which makes sense. More stocks mean more access to companies, industries and asset classes – in other words, more diverse and interesting investment options. Over the last few months, we’ve been adding more stocks…

@Freetrade_Team

Phase two – thousands more US stocks

In the next couple of months, we’ll be adding thousands of US stocks as a result of some engineering work which is underway right now.

[Mortirolo]

I’ll provide some feedback on my first trade experience with Revolut.

Pros of Revolut:

• Data is very quick. There is little, if any, discrepancy between the price I queue the order for and what I actually pay.
• Uses it’s strength in FX to help reduce transaction costs for US Stocks. ( However once Freetrade has the platform up and running I don’t think this will be a massive benefit for Revolut). I remember when J&J were priced at $127 I still ended up paying the equivalent of ~$129 on Freetrade.
• Has a +/-% on portfolio.

Cons of Revolut:

• Layout is very basic ( some could class it as non existent). I understand they are just rolling their service out so Freetrade clearly has a big moat with this. But will it be there once Robinhood arrives?
• Limited to 3 basic trades (albeit any time the markets are open). Once again I think Freetrade definitely has a nice moat here. As an investor I don’t mind sacrificing timing for quantity. “Don’t try to time the market etc “
• No ISA feature/ No UK stocks/ETF’s/ REITs

Overall: If Freetrade has the stocks I need I would definitely use them over Revolut. As the previous posts have mentioned it’s convenient having all your investments in one place. I only used Revolut as Freetrade didn’t have the stock I wanted to buy - once it does and the platform goes live I don’t see the need to use another broker. However, bear in mind I’m already a user of Freetrade and have a certain amount of attachment by having an ISA etc. I think on boarding customers will be crucial in the next few months ( so this referral scheme is definitely warranted)

I think Freetrade are doing a great job so far and for what they’ve accomplished . Looking forward to some of the features listed on the Roadmap.

Would like to know when REITs will be available in ISAs though !

[SimasZ]

Rev’s also got fractional stocks. I’m using it at the moment to get in on stocks that are not available on Freetrade as well, but will jump ship as soon as the FT trading platform is up and running

[shane-aurora (Shane Ireland)]

They haven’t sorted the W-8-BEN form yet have they?

[SimasZ]

I think I signed one Could be wrong though

[neovo]

I’ve just funded my Revolut for the first time… to buy fractional shares

Freetrade hurry so I can move my Revolut monies

[littlefinger (GT 😷)]

Hmm, I’m curious. I’ll give it a try, just to see the difference, will do instant trades to compare.

[yomz10 (Yoma James)]

I tried Revolut trading yesterday tbh i think it’s trash in comparison to Freetrade. Freetrade has so many more features all they need is fractional shares rolled out asap

[Diversify (Radical Candor)]

Sign up flow:

@stephen

Are investments FSCS protected?

Opted not to even trial the account because 1) agree it’s very alpha basic 2) fractionals on Freetrade incoming 3) do not want to expose myself to a potential “inactivity fee”:

[Diversify (Radical Candor)]

Official announcement:

Revolut

[szb (Sergey)]

I get stuck on Tax ID screen. Great job!

[Dys]

I have it on Revolut Metal and all is good.

I have my ISA here on FT as well as other shares however I see no reason to denigrate Revolut. Both great Fintechs.

[saf]

Revolut Trading Head: We'll Add More Than Just US Stocks | Finance Magnates

[fte]

Freetrade mentioned a lot. Free publicity.

[ukcz]

@TradeRunner

I think I much prefer having a specialised app, like Freetrade, that does one thing very well rather than the Revolut app that has a multitude of functions/options.

Maybe, but many others will also like a one stop shop like Amazon for shopping and streaming or Google for email, search, storage & apps

For me it’s useless for now (no ETFs) but as I get closer to the FCSC limit here & Revolut adds ETFs I’ll probably end up using both

[toms]

Not sure why the FSCS scheme would be relevant… unless you plan on having over £85k in cash on FT, which wouldn’t make any sense.

[ukcz]

How are my investments protected?

[DNM (Doug)]

Any investments are held separately to the assets of the provider. If Freetrade are fully compliant (which I believe they are) then the FSCS is irrelevant if Freetrade were ever to go bust. There’s a whole thread on this on the forum if you search.

Side note if you think about it logically, limiting any S&S portfolio with any provider to £50k does not make any sense. For those really fortunate (rich) folk you could even run out of providers!

[tanguy]

I just bought my first share on Revolut yesterday. I’m so relieved!

As an investor in Freetrade I’ve always been super worried about Revolut’s great execution. I mean their growth didn’t happen by accident, they’re just amazing at shipping features customers want, and shipping them fast.

However, I believe their trading product dissapoints for a number of reasons:
1. Product discovery is broken. The trading section is crammed in with a dozen other features in the last tab. Even the name of the trading section sucks in some languages and makes it hard to expect that you’re about to click on the trading section. It’s called “Opérations” in French, when it should’ve been called “Investissements”.
2. The onboarding process is a downer. I couldn’t believe my eyes when I saw how many steps I had to go through. Using a third-party API really sucks because they’re forced to ask users to go through a specific registration flow.
3. The product is too minimal.

• Nothing is explained about stocks
• The only way to discover stocks is to scroll down a list
• I can’t see my portfolio on a graph
• I can’t invest tax-free

Yeah sure, shipping MVPs is usually a smart move. But how do you expect casual investors to pick stocks they know nothing about?
There’s a paradox here: their product was meant to appeal to millenials. We’re talking casual investors who know little about stock investing. However the product currently favors users who know that they want to invest in PagerDuty or Slack, and do it fast.

For these reasons, I’m starting to see Revolut Trading in a very different light. Its value proposition is actually quite different from Freetrade’s. In other words you could be a Revolut customer AND a Freetrade customer, for as long as Freetrade keeps adding great features and differentiates itself.

This makes me more bullish than ever regarding Freetrade’s future. I think the biggest worry in the competitive landscape is Robinhood. But then there’s probably room for more than one player

[ukcz]

@tanguy

3. The product is too minimal.

It’s a first release with fractional shares & most (all?) of the popular US companies

@tanguy

Nothing is explained about stocks

Do you mean like freetrade saying “iPhones” for Apple or something I’ve not noticed?

@tanguy

The only way to discover stocks is to scroll down a list

You can also search by name. I guess they will copy Freetrade by having ETF/stock filters when they add ETFs. In the mean time Freetrade has gone too far imo…I’d like an option to hide Recently Viewed, Newly Added, Tech Titans and “Popular” (if that means how many users purchased 1 share, not volume based).

@tanguy

But how do you expect casual investors to pick stocks they know nothing about?

The same as most of the YouTubers investors on Freetrade do it. “I like Facebook so I’ll buy Facebook” or “this guy on YouTube is really good at selling the idea of Tesla’s growth potential so I’ll buy me some”