Revolut Trading 🦅

Post of the month :metal: Also, good luck buddy! :muscle:

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I have to say I disagree. I am a Freetrade, Revolut and Monzo investor and happy with those decisions. Revolut’s currency focus allows them to generate income and use it to shore up other areas such a share trading allowing them to build up their client base no? I almost live off of my Revolut card spending most of my year abroad and it is a godsend. Every time they add a capability it feels of significant worth. I am a huge fan of what they do. I also maintain a healthy bluechip shareholding through the Freetrade platform and utilise my Monzo account so understand I am utilising, and am a fan of, all three platforms, whilst evangelising about Revolut in this instance.

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@Yas We need an update - how did the interview go? Asking for a friend :roll_eyes:

Haha! It was 2 months ago, and I’ve started a contract somewhere else.

I didn’t perform my best in the interview to be honest, I think the reason I made it through to final stage was probably on the back of my data analysis and report writing. Even though I haven’t held the CF10a position before, I was told that it wouldn’t be an impediment… Contrary to the advert. Although it didn’t totally put me off, you can search online for some of the working experiences of current and former employees. These concerns were not quelled in the meetings with the two guys there. They are trying to do a lot in a short space of time, it’s pressure, but exciting if you enjoy it (which I do most of the time).
Hope they picked the right person for the job!

Happy to talk further with your “friend” if they want to send me a message, I can provide more details on what I perceived in the process.

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Always read the legal stuff.

Rev Trading route trades via a third party broker - DriveWealth LLC.

Sources - https://www.revolut.com/legal/trading/#.-legal-bits-and-pieces and https://www.revolut.com/legal/trading/#order-handling-policy-.-introduction

This was always known.
DriveWealth is a fast (ish), easy (ish) and cheap(ish) route to offering (fractional) US shares worldwide.
‘Most’ zero commission brokers that have sprung up recently leverage DriveWealth - it’s a few API plugins and you’re away! That’s assuming you go the ‘cheap’ route and become an “Authorised Representaive” rather than fully regulated ( a la Freetrade)
Trouble is all these DriveWealth backend offerings will lack differentiation. It’s similar to all the “Powered by FNZ” adviser platforms out there. Ultimately they suck, they charge you for system developments and pass your ideas on to other competitors/users despite NDAs.

There’s a shovels and goldrush analogy in here somewhere tho…

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I’d invest in DriveWealth if I could. It looks like a great Software/API-as-a-Service company (SaaS) making other startups’ lives easier, as more fintechs all over the world want to gain access to US stocks, etc. Looks like a very scalable business with fixed costs.

It has raised at least USD 29.4 million. Series B was in April 2018 - USD 21 million. Steve Cohen’s 72 Ventures took part: https://www.crunchbase.com/organization/drivewealth#section-funding-rounds
This is 72V’s website - they have an interesting portfolio. Raptor Group also participated, as well as SBI which has an investor relations page even. cc @Viktor and @adam .

Also, judging by DriveWealth’s press releases, commission-free US stock trading offerings are popping up all over the world - they’ve signed deals with companies in India, Nigeria, South America - https://drivewealth.com/press

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So the idea is, get product out quickly, increase customer base and then either negotiate on costs with backend routing provider while developing your own?

It doesn’t seem a bad idea as reaching scale is critical. They have started rolling out the beta version in the USA and Singapore in these days.

That would seem a solid strategy, yes. I suspect we’ll see this play a few times in the coming months…:wink:

Trading has been rolled out to beta users with an app update this morning. It usually takes 1-2 weeks between the beta testing and public release.

It has been estimated that the average deposit has increased from £70 to £350 per customer in the first half of 2019.

Can’t yet find in-app, but apparently it’s live for standard users now:

Slightly conflicting messages

Yeah just saw this too, perhaps it’s feature flagged and will be granted access once fanfare over an imminent social media announcement is made :eyes:

Good news. Steal their lunch FT

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

Just received mail that trading is open now to the standard customers.

Hope that Freetrade expands soon to the rest of the Europe ( Croatia in my case ).

They are launching in 26 countries. That’s pretty impressive.

They have 450 stocks on the platform now. Anyway some coverage from

Anyone here used the service. What’s it like?

Just took a look at my Revolut app and I can see the “Trading” option has been enabled.
Looks ok, but i’ve not tried purchasing any shares through them yet.

But I really only got the Revolut card for using abroad for its better FX rates (I have now switched to my Dozens card instead).

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.

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