Super popular Fintech startup Revolut has recently announced that they are working on a commission-free trading service that will become the Robinhood of Europe. Robinhood is a free trading platform that only offers its services in the US.
Revolut has just announced that they are working on a commission-free trading service that aims to compete with Robinhood.
Robinhood is a very liked trading platform that charges no commission on trades.
Revolut wants to leverage Robinhoods weak position on the European market
The Revolut trading platform has no set date for now but is currently under development.
Stocks, Options and EFTs will be offered, considering Revolut currently offers exchange on Bitcoin, Ethereum and Litecoin, there might be a chance they will offer cryptocurrencies as well.
Revolut is going to launch a commission-free trading platform
Revolut is a Fintech startup that constantly develops their product, sometimes it feels like they are announcing new products every day. Now, they have announced that they are working on a trading platform similar to the Robinhood trading platform. Commission-free. We dig it.
Robinhood is a great service and has been available in the US for many years, they do however have limited reach in Europe. Revolut wants to leverage this and become Europe’s alternative to Robinhood. Currently brokers like IQOption and eToro, 24Option Plus500 dominate the market.
Trade Stocks, EFTs and Options
Revolut promises commission-free trading on Stocks, EFTs, and Options, instead of capitalizing on fees they will be making money on margins and interest on money. Recently Robinhood released a statement saying they have saved over $1 Billion in trading fees when they compared their product to their competitors. that’s some serious dough if you ask us.
Who knows what more assets you will be able to trade on the Revolut platform as they are currently offering exchange from fiat to Bitcoin, Ethereum, and Litecoin. Will the new platform also offer cryptocurrencies?