Revolut, which launched in Australia last month, has given its European customers access to its own commission-free stock trading platform.
The platform allows users to buy and sell popular US stocks from the likes of Apple and Amazon at the tap of a button.
The predominately millennial customers can buy a fraction of a company’s share with the minimum amount being $1 worth of stock, in what it has been billed as the first-ever company to bring fractional shares to Europe.
Revolut has partnered with US broker DriveWealth to facilitate the trades which will only be available to users with Revolut’s premium service which is a charged membership.
Eventually it will expand out to standard users who will be limited by how many trades they can do with additional trades triggering a charge.
“Investing in the stock market has been closed off to many people for far too long, due to fees, high-share prices, and complicated platforms,” said Revolut.
The trading will be available through the Revolut app and will eventually open up to Australian consumers though there is no word on when that will happen.
“As we develop our trading feature, we plan to open it up to more people outside of Europe, to bring in products such as ETFs, and introduce UK and European stocks,” said Revolut.
Eliot Hastie is a journalist on the wealth titles at Momentum Media.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).
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