Revolut beefs up Aussie offering with Revolut Trading

Revolut’s Australian customers will now be able to trade in shares from the likes of Amazon, Tesla and Netflix, after the neobank upped its offensive in the country with the launch of Revolut Trading.

The feature's launch means that Revolut's Australian customers can buy and sell fractional shares listed on the New York Stock Exchange and NASDAQ.

Investors can invest as little as $1 and, marking its launch in Australia, Revolut says it is waiving all commission fees for the rest of the year to anyone who uses the feature by June 30 this year.

The stock trading feature includes real-time data, stock charts, price alerts, market graphs, along with global market news.

The in-app platform also includes Revolut’s social trading feature, allowing traders to share their portfolios and view the investments of other Revolut customers.

Revolut rolled out stock trading in the US last month after bagging a broker-dealer licence in 2021.  

With its trading feature, Revolut is competing against the likes of Robinhood.

Revolut launched in Australia in 2020 and says it now has more than 10,000 customers. 

In Australia, it offers multi-currency transaction accounts and also features like automated budgeting, international remittance and a crypto current and commodities exchange service.

“We’re really excited to be offering Stock Trading to our Australian customers, and simplifying the trading experience for both new and experienced investors,” said Matt Baxby, CEO of Revolut Australia. 

“There are so many barriers for Aussies who want to invest in the US stock market. Traditional providers sting customers with a whole slew of hidden fees including brokerage, markups on foreign exchange into US dollars, as well as deposit and withdrawal fees. 

“By offering commission-free trades and our market-leading FX rates, our stock trading feature sets out to simplify things and give investors more money on their trades, and less on fees.”