The British NeoBank is now entering an important stage of its development by allowing its European clients to build a portfolio of shares.
For the moment reserved to the customers of the Metal offer, the purchase and the resale of shares is guaranteed without commission by Revolut.
Revolut wants to facilitate share ownership
In operation for several months now, the Revolut Exchange is opening its doors to resident Metal customers in the United Kingdom and Europe. They are now free to make 100 non-commissioned transactions per month on more than 300 NYSE and NASDAQ listed securities. Other stock markets are also planned in the future.
For every transaction over 100 free monthly guarantees, Revolut will take £ 1. Fintech also specifies that it will take " annual care fees of 0.01% " from users of its new feature.
On her blog, the Neobanque says it will deploy the functionality to all its customers- including those of the free offer - in the coming weeks. However, more important limits will apply to those. Premium customers will only be allowed eight free transactions per month (then £ 1 per transaction), and Standard customers only three monthly transactions (then £ 1 per transaction).
Purchase of fractional shares
Recognizing that share ownership is not only repelled by the significant costs that apply, but also by the apparent complexity of the stock exchange system, Revolut does not forget that for future investors, the cost of action may prove prohibitive.
Also, Revolut is proud to announce that its new service allows the purchase of fractional shares. In other words, if you want to buy a share of Apple ($ 213.04 at the time of writing), you can choose to invest only one dollar. You will then hold a (very) small share of the company, and your potential earnings will logically be reduced, but you will be able to put a conservative foot in the shareholding without investing large sums of money.
Finally, Revolut specifies that, as it currently proposes to invest only in US markets, the stock market is only open from 9:30 am to 4:00 pm Eastern Standard Time.
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