Revolut share trading review

About Revolut

Starting out of the UK in 2015, Revolut offers money transfer and exchanges to its customers.

Today it has millions of customers in Australia and around the world.

It offers users a multi-currency transaction account, automated budgeting, international remittance, a cryptocurrency and commodities exchange service, shopping rewards, a donations platform and linked accounts for children aged 6–17.

Adding to its service, starting from February 2022, investors can buy US shares through the app.

What can I trade?

Australian investors can only access US shares through the platform. This means you will gain access to buying and selling fractional shares listed on the New York Stock Exchange (NYSE) and the NASDAQ.

However, you will be unable to trade in other markets through the broker.

Key features

Cheap fees

One of the main attractions for investors will be Revolut's fee structure.

It charges custody fees of just 0.01% as well as a low $1.99 brokerage fee. Plus, you pay no foreign exchange fees on trades up to $2,000.

Trading tools

Revolut's trading platform includes intuitive stock charts, personalised price alerts, market graphs and global market news within the app. Investors will also gain access to pre-set limit or stop orders, and access fractional shares.

Plus, if you're looking to learn more about investing, the app offers mini courses and educational quizzes.

Access to Revolut's budgeting services

Another key feature for those who sign up with Revolut's brokerage plan is they'll also gain access to the company's budgeting and money transfer services.

Revolut offers a range of services including: money transfers overseas, splitting bill facilities, smart budgeting tools, discounts from retailers and single use card details for your mobile.

Support available for customers

You can access 2 forms of support:

1. In app-chat: This is available 24/7, although premium and metal plans users will get priority.
2. Phone: You can also call Revolut for support.

How much will share trading cost with Revolut?

You can get access to $0 brokerage trades depending on your account plan, but there will be a monthly limit which depends on the Revolut plan you're subscribed to. The breakdown is:

• Standard plan (free): Pay US$1.99 or 0.25% of trade value (whichever is higher)
• Premium plan ($9.99 per month): Get 5 $0 brokerage trades per month, then US$1.99 or 0.25% of trade value
• Metal plan ($24.99 per month): Users get 10 $0 brokerage trades, then US$1.99 or 0.25% of trade value

As Revolut offers US stocks, there's also a currency conversion (FX) fee to factor in here. This also differs depending on your account plan:

• Standard plan: No FX fee up to A$2,000 per month in trades (doesn't include transactions outside of exchange market hours), then pay 0.5% of trade value
• Premium plan: No FX fee up to A$20,000 per month in trades (doesn't include transactions outside of exchange market hours), then pay 0.5% of trade value
• Metal plan: No FX fee

It is worth highlighting you will also gain access to Revolut's budgeting tools if you sign up to either plan. To see full details click here.

Investors will also pay a custody fee of 0.01% or 1bps annually regardless of what account they have.

How do you open an account with Revolut?

You can join Revolut by clicking through the "Get the app" button on its website.

The app is available for download on both Apple and Android devices.

After you've downloaded the app, you'll be invited to create an account. From there investors just follow the prompts.