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Revolut introduce commission free trading from today

  • 01-08-2019 1:39pm
    #1
    Registered Users Posts: 12,553 ✭✭✭✭ errlloyd


    Hi all. It seems the old revolut threads are very old and very not relevant. So I figured I'd pop this here if the mods don't mind. Revolut have introduced commission free trading for metal customers from today and will roll out to Premium and Standard over the next month or so. Here are a few points I have been able to glean.
    1. You can invest as little as 1 dollar in an iteminsed amount of a stock.
    2. Obviously you get no voting rights for that, but you will (probably according to them) get your portion of the dividend.
    3. It is done through US brokerage DriveWealth
    4. It is American Stocks for the Nasdaq and NYSE
    5. Metal customers will get 100 free trades per month, Premium 8, Standard 3.
    6. You are limited to 1,000 dollars per trade right right now but they want to increase it.
    7. Currently there are no fees and no commission, but they will introduce a small fee in future (0.01% I think).

    A metal plan costs 14 a month or so. A premium plan costs 9 I think. Obviously those come with all the other Revolut Perks (increased limits, cash withdrawals, travel insurance, fancy cards, etc etc etc). I think you can get metal by doing a certain number of referrals per month. I assume anyone posting here has an account already but if not there are two things to note.

    1: Vodafone are currently giving any PAYG customer or Billpay customer €5 or €10 free respectively if they open a revolut account and top up.
    2: If you do sign up, ask a mate for their referral code to be sound, if not feel free to pm me. :p

    I have metal already - so if anyone has any specific questions about the commission free trading / want to see documents / screenshots let me know.

    https://www.ft.com/content/a50349ae-b3ac-11e9-bec9-fdcab53d6959


Comments

  • Registered Users Posts: 1,788 ✭✭✭ Cute Hoor


    Ta for that errlloyd, do you know if you can set buy and sell limit prices


  • Registered Users Posts: 14,306 ✭✭✭✭ jimmycrackcorm


    I got premium to enjoy playing with the crypto currencies. It'll be interesting to do the same with stocks. Though I'm not sure it's worth paying for metal unless I can figure out a way to make the money back. Crypto is too volatile.


  • Registered Users Posts: 5,664 ✭✭✭ el diablo


    I got premium to enjoy playing with the crypto currencies. It'll be interesting to do the same with stocks. Though I'm not sure it's worth paying for metal unless I can figure out a way to make the money back. Crypto is too volatile.

    Bitcoin is up hundreds of percent since the beginning of the year. :confused:

    Revolut is a terrible place to buy crypto though when you factor in their huge hidden fees and the ridiculous market rates and spreads between buy and sell prices for BTC etc.

    We're all in this psy-op together.🤨



  • Registered Users Posts: 12,553 ✭✭✭✭ errlloyd


    Cute Hoor wrote: »
    Ta for that errlloyd, do you know if you can set buy and sell limit prices

    Sorry I promised I'd keep updated then immediately spent a week driving around Ireland being distracted. Atm you can't. But it is a feature they flagged for later.


  • Registered Users Posts: 1,035 ✭✭✭ Brian201888


    This is available to all customers now


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  • Registered Users Posts: 14,543 ✭✭✭✭ Supercell


    Just filled out the bits in the app to enable it. Looks like you can do fractional investing too, nice fro dripping. Any downsides to be aware of, hope this isnt like their crypto trading .

    Have a weather station?, why not join the Ireland Weather Network - http://irelandweather.eu/



  • Registered Users Posts: 14,543 ✭✭✭✭ Supercell


    Just did a partial order of a stock to test, now the proud owner of 0.62 shares of HUBS @ $160.45. It executed at market price and instantly. I like that you can enter a $ amount to spend and it auto calculates the amounts of shares - a feature that Degiro doesnt have (and should in my opinion). Quite impressed I have to say.
    The selection is quite restricted, for example it has very few REITS. I wanted to buy some BRK.A just to feel like a big hitter, but unfortunately that isnt one of them :) .

    Have a weather station?, why not join the Ireland Weather Network - http://irelandweather.eu/



  • Moderators, Recreation & Hobbies Moderators Posts: 4,348 Mod ✭✭✭✭ dory


    Cheers for the heads up. Just sorted out my account so I can do some trades. Gonna buy myself a single stock and see how it does.


  • Moderators, Business & Finance Moderators Posts: 7,818 Mod ✭✭✭✭ Jim2007


    Supercell wrote: »
    Just did a partial order of a stock to test, now the proud owner of 0.62 shares of HUBS @ $160.45. It executed at market price and instantly. I like that you can enter a $ amount to spend and it auto calculates the amounts of shares - a feature that Degiro doesnt have (and should in my opinion). Quite impressed I have to say.
    The selection is quite restricted, for example it has very few REITS. I wanted to buy some BRK.A just to feel like a big hitter, but unfortunately that isnt one of them :) .

    You do realise that legally you own no shares and in the event of a Lehman type meltdown you will be unable to recover your holdings as they will be indistinguishable for any other holdings, right?


  • Registered Users Posts: 1,218 ✭✭✭ AmberGold


    Jim2007 wrote: »
    You do realise that legally you own no shares and in the event of a Lehman type meltdown you will be unable to recover your holdings as they will be indistinguishable for any other holdings, right?

    Whys that, because its a partial purchase?

    Looking to start a bit of investing myself and was considering Davy / DeGiro, then saw this post on Revolut for which I have a metal card.


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  • Registered Users Posts: 28 ✭✭✭ Linkstr


    Jim2007 wrote: »
    You do realise that legally you own no shares and in the event of a Lehman type meltdown you will be unable to recover your holdings as they will be indistinguishable for any other holdings, right?
    Hi Jim2007,
    do you have more information about that ? I've checked online but I can't find anything regarding the loss of ownership in the event of a meltdown.


  • Registered Users Posts: 198 ✭✭ mosesgun


    I started using it today. My first time going near the stock market. Very simple to use. These fractional stocks are great. I bought amazon, Paypal and Microsoft and after the 1st day I'm up about €5 from an investment of about €115 :-) I've only got a standard Revolut account so I think after my 3 trades today, the rest for the month I'll be charged a small per trade commission.


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