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Revolut, a well-known financial app, also provides trading in stocks and digital currencies. Revolut offers support for commodity trading and certain cryptocurrencies.
It is popular due to its convenience of use and simple design. It is as simply as visiting Revolut and creating an account to get going. Still in doubt? Read our trading critique to learn more about the features and trading platforms of Revolut.
Table 1: Revolut Overview
 Revolut Highlights |
|
|---|---|
|
Regulated By |
The Financial Conduct Authority (FCA) London, UK |
|
Account types |
Standard Account Plus Account Premium Account Metal Account |
|
Demo account |
NO |
|
Islamic account |
NO |
|
Minimum deposit |
$0 |
|
Maximum Leverage |
NO |
|
Payment Method |
Bank transfer Apple Pay Google Pay Credit/debit cards |
|
Trading platforms |
Revolut Mobile app
|
|
Commission |
NO |
|
Customer Support |
24/7 |
|
Market Instruments |
Details |
|
Shares |
YES |
|
Forex |
NO |
|
Commodities |
YES |
|
Indices |
NO |
|
Cryptocurrencies |
YES |
Revolut is a British fintech firm that provides banking services and has its global headquarters in London, England. Vlad Yatsenko and Nikolay Storonsky founded it in 2015 to simplify the banking process.
Revolut currently works with 20,000 organizations and they are adding about 2,500 new ones each week. Revolut claims to have over 12 million customers and has saved them over £740 million in expenses.
Revolut – Knowledge bites
The well-known fintech company Revolut offers services that go far beyond the area of investments. Revolut makes trading and investing simple. All options are accessible through their mobile app. It makes it possible to trade stocks, commodities, and cryptocurrencies. Revolut offers a basic digital banking and investing experience that is both free and reasonably priced. Users can use the platform to open a current account without filling out any paperwork. The website allows users to order both digital and physical cards. These are worldwide prepaid contactless Visa cards.
Image 1: Home page of the Revolut website
Image Copyrights reserved to the Revolut website
Revolut is considered one of the most safe and most secure platforms, giving its consumers complete control over their finances. The Financial Conduct Authority (FCA) has authorized and licensed Revolut. It is also governed by the Electronic Money Regulations of 2011 and the Payment Services Regulations of 2017.
Table 2: Revolut Regulation details
 Country |
 Regulation |
 Headquarters |
 Registration Number |
 Registered office |
|---|---|---|---|---|
|
England |
The Financial Conduct Authority (FCA No: 780586) |
London, England |
08804411 |
Revolut Ltd 7 Westferry Circus, Canary Wharf, London, England, E14 4HD |
Users can rapidly freeze or unfreeze their Revolut cards through the app in the event of loss or theft. Users can also enable and disable card services such as contactless payments, online transfers, and ATM access. User funds are kept separate in Barclays or Lloyd’s accounts. The app can be secured by a fingerprint ID or a password.
Cryptocurrencies, metals, and stocks are all available through Revolut. Bonds, ETFs, and options are not offered. Revolut additionally offers a currency exchange service. Revolut permits fractional trading, which makes pricey stocks more accessible to beginner and low-capital investors.
Financial Instruments that you can trade using Revolut:
Stocks
Cryptocurrencies
Commodities
Traders exchange 30+ fiat currencies for cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, and Litecoin. Through the Revolut Dashboard, they exchange cryptocurrencies. Cryptocurrencies from the Bitstamp exchange are offered through Revolut.
Table 3: Supported Coins on Revolut
 Cryptocurrencies |
|---|
|
Uniswap (UNI)
Bitcoin BTC
Bitcoin Cash BCH
Doge
Ethereum ETH
Litecoin
Cardano
Ripple
OMG Network |
Only Premium and Metal accounts can trade gold. Investors can add an XAU account through the Commodities widget.
The mobile application is the main trading platform for Revolut. It is compatible with iOS and Android devices.The Revolut app is simple to use and intuitive. Let’s take a closer look.
It’s simple, easy, and quick to open an account with Revolut. You only need to download the app, add your personal information and supporting documentation, and then wait for everything to be cleared before you can proceed. You will have quick access to the payment and investing service after registration is complete.
Six different account kinds are available with Revolut, of which two are distinct from the primary tiers. The major Revolut account tiers are Standard, Plus, Premium, and Metal. The Business accounts and Junior accounts must be applied for separately.
The Revolut Account types are:
Standard Account
Plus Account
Premium Account
Metal Account
Image 2: Revolut Account types
Image Copyrights reserved to the Revolut website
Revolut offers business accounts in addition to services for commercial users. Cardholders have a smartphone app they can use to monitor their company’s expenses. Paid corporate users have access to around-the-clock support.
You can select from two different sorts of plans with Revolut Business, including a free basic plan and a subscription plan. There are no monthly expenses with the free plan, but you only get a few services. On the other hand, for the monthly amount you pay with subscription plans, you get a greater number of free transactions.
The Revolut Junior account is designed to provide young people with top-up cards that are managed by a guardian. One junior account with no personalization options is available to standard account holders. Owners of Plus, Premium, and Metal accounts can customize a variety of unique pre-sets for Junior accounts. Account holders with the Plus, Premium, and Metal cards can open a total of two Junior accounts.
Revolut does not offer a demo account.
The fees and the total amount of trades you can do each month are based on Revolut’s account types.
Table 4: Trading fees of accounts available in Revolut
 Type of Account |
 Number of trades |
Fee |
|---|---|---|
|
Metal |
£12.99 / month |
Unlimited |
|
Premium |
£6.99 / month |
5 stock trades per month |
|
Plus |
£2.99 / month |
3 stock trades per month |
|
Standard |
Free |
1 stock trade per month |
Revolut does not charge for deposits and withdrawals. Revolut accepts deposits via bank transfer, Apple Pay, Google Pay, and credit/debit cards (Mastercard, Visa, and Maestro). Cash or checks are not accepted as deposits on Revolut.
Cash withdrawals per month are free for users up to £200. A 2% fee will be applied to any withdrawals made more than this cap.
The leverage in trading is not permitted by Revolut.
Trading Tools available in Revolut:
Revolut Virtual Card
Revolut card
Online purchases can be made with the Revolut virtual bank card. Additionally, recurring payments like rent or bills can be made using it. For future expenses, you can also place monthly spending limits on the card.
Virtual cards come in two varieties: single-use and multi-use. Following a purchase, the one-time use cards are destroyed. You must destroy the multiple-use virtual card on your own; it does not do so automatically. Only Premium and Metal accounts can access the disposable Revolut virtual card. As a result, there is a nearly 30% reduction in the risk of fraud.
This card allows users to make contactless purchases across the world without having to pay any additional fees. Without relying on brokers or exchanges that charge high currency rates, payments can be made in 30 different currencies. The Revolut card also makes it simpler to purchase, exchange, or keep cryptocurrency. Revolut cards come in either Visa or Mastercard varieties, although they are distributed at random. Although customers are unable to select according to their preferences, they can select the card’s design and color, which range from rose gold to grey. But only Premium cards can access this.
Users of Revolut Rewards can receive discounts and cashback from top firms and retailers. Revolut cardholders can save money when shopping and receive exclusive discounts. The user’s bank account is easily credited with the cash-backs.
Image 3: Reward section on the Revolut website
Image Copyrights reserved to the Revolut website
The help center and tutorials are extensive for queries regarding banks and apps. In terms of research and trading education, they perform poorly. Revolut has a Blog, newsfeed, and watch list. However, these only provide basic charts and no technical indicators.
Image 4: Blog section of the Revolut website
Image Copyrights reserved to the Revolut website
Revolut has both advantages and disadvantages, which are listed in Table 5.
Table 5: Pros and Cons of the Revolut website
 Pros of Revolut |
 Cons of Revolut |
|---|---|
|
When compared to conventional banking systems, Revolut provides additional financial services.
The card doesn't require any additional fees to use worldwide.
There are good deals for travel and health insurance.
24/7 client service. |
No trading with leverage No live telephone number No desktop or web trading platforms ETFs, mutual funds, bonds, and options not offered. |
Revolut banking offers round-the-clock client support. Email support does not exist. Revolut’s phone support only provides pre-recorded responses. Revolut can be reached by investors over the phone, on live chat, and chatbot. The Revolut Community is an online discussion forum that can be of use to those seeking specific answers. The company also has accounts on LinkedIn, TikTok, Facebook, YouTube, and Twitter.
Table 6: Customer support service details of Revolut
 Customer support service details of Revolut |
|
|---|---|
 Phone |
+442033228352( Automated Phone line) |
 Facebook |
|
 Instagram |
|
|
|
|
|
|
|
|
|
|
1. Is Revolut FCA licensed?
Yes, Revolut has a Financial Conduct Authority license (FCA).
Users of the Standard and Plus account pay 1.5% of this fee (and users of the Premium and Metal accounts pay 0.5%).
Yes, you can create additional Revolut accounts, but you cannot create additional trading accounts to take advantage of the free monthly trades.
With bonuses and rewards for each new customer who signs up, Revolut offers a well-liked referral program for its bank accounts.
Leveraged trading is not permitted on Revolut.
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