Summary

Recommended for beginners looking for free trading and a great mobile-only trading platform

Revolut is a fast-growing fintech startup founded in 2015 and it's mainly known for its banking and payment services. In 2019, the company also launched its commission-free stock trading which is provided by Revolut Trading Ltd. 

Revolut is regulated by multiple regulators, including the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients' assets are protected up to $500,000 ($250,000 cash) under the Securities Investment Protection Corporation's (SIPC) insurance

Overall Rating
4.2
Fees
5.0
Account opening
5.0
Deposit and withdrawal
3.5
Trading platform
2.0
Markets and products
2.0
Research
1.0
Customer service
1.8
Education
0.0

Revolut pros and cons

Revolut offers free stock trading without inactivity fees. The account opening is seamless, fully digital, and really fast. In addition, the mobile app is well-designed and user-friendly.

Only US shares are available which means that other asset classes like mutual funds, options, bonds are all missing. The research and educational tools are also very basic or missing and you can get answers only to some of your basic questions through customer support.

Pros Cons
Free stock trading Limited product portfolio
Fast and easy account opening Basic research and missing educational tools
Great mobile trading platform Poor customer service
Revolut main features and highlights
🗺️ Country of regulation UK
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
💳 Deposit with credit/debit card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 1
🎮 Demo account provided No
🛍️ Products offered Stock, Crypto
Ádám Nasli

Ádám Nasli

Broker Expert

Author of this review

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Revolut review
Fees

5.0
Besides trading stocks for free with Revolut, you don't have to pay any inactivity or withdrawal fee. There is only a 0.01% annual custody fee.
Pros Cons
Low trading fees None
Low non-trading fees
Free stock trading
Revolut fees snapshot
Assets Fee level Fee terms
US stock Low Unlimited free stock trades for Metal accounts, while 8 and 3 monthly free stock trades for Premium and Standard accounts respectively
EURUSD - Not available
Mutual fund - Not available
Inactivity fee Low No inactivity fee

We ranked Revolut's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

Below you will find the most relevant fees of Revolut for each asset class. For example, in the case of stock investing commissions are the most important fees.

We also compared Revolut's fees with those of two similar brokers we selected, Freetrade and Robinhood. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Revolut alternatives.

To have a clear overview of Revolut, let's start with the trading fees.

Revolut trading fees

Trading fees are low both for stocks and for cryptos.

You can choose from three different accounts at Revolut, each of them charges different fees for stocks:

  • the Standard account is free and it includes 3 free stock trades per month,
  • the Premium account costs $9.99 and includes 8 free stock trades per month, 
  • the Metal account costs $14.99 per month and you can make an unlimited number of free stock trades.

Once you passed your monthly free trade limit each trade costs £1.

Stock and ETF commission of a $2,000 trade
  Revolut Freetrade Robinhood
US stock $0.0 $0.0 $0.0

Crypto fees

Revolut provides cryptos from Bitstamp crypto exchange and charges a 1.5% markup on the cryptocurrencies bid or ask price.

Non-trading fees

Revolut has low non-trading fees, it charges no inactivity or withdrawal fee. However, it charges a custody fee of 0.01% annually.

Revolut non-trading fees
  Revolut Freetrade Robinhood
Account fee No No No
Inactivity fee No No No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

Revolut review
Account opening

5.0
Revolut has an easy, fast, and fully digital account opening and there's no minimum account balance.
Pros Cons
Fast None
Fully digital
No minimum deposit

Can you open an account?

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Stock trading is not available in all of the countries where Revolut's basic service is available. Use our handy tool below to find out whether stock trading is available.

What is the minimum deposit at Revolut?

There is no required minimum deposit. You can move even just a couple of dollars to your trading account from your Revolut account to get started with buying shares.

Account types

Revolut has three account types: Standard, Premium, and Metal. All three account types offer commission-free trading, the difference between them lies mainly in the amount of monthly free trades they offer:

  • Standard account has 3 free trades per month
  • Premium accounts offer 8 per month
  • with a Metal account there's no cap on the amount of free trades.

When you start trading your trading account is a general investment account. Other account types which are usual with traditional brokerages like corporate, joint, IRA, ISA are not available.

How to open your account

Revolut account opening is user-friendly and fast. Our account was verified within one business day.

The 5 steps of Revolut account opening:

  1. You need to register for the Revolut account 
  2. Go to the "Dashboard" and click on Trading
  3. Add some personal information, like your nationality and tax ID number
  4. Answer a few questions about your employment status, annual income, and investment objectives
  5. Accept user and market data agreements
Revolut review - Account opening

Revolut review
Deposit and withdrawal

3.5
Revolut offers several deposit options and both deposits and withdrawals are free even with wire transfers. On the negative side, you can only use USD-based accounts for trading.
Pros Cons
Credit/Debit card available Only USD-accounts for trading
Free withdrawal
No deposit fee

Account base currencies

You can have many currencies when using Revolut but you can only trade from a USD-based account, as you can only trade on the US stock market.

It takes only a few seconds to create a USD-account, but you need to exchange the amount you wish to trade into USD before you place an order. It would be a bit better if you didn't have to exchange the money and Revolut made the currency conversion automatically.

Base currencies at Revolut vs similar brokers
  Revolut Freetrade Robinhood
Number of base currencies 1 1 2

Revolut's only-USD trading account offer is similar to Freetrade's but lags behind DEGIRO's offer.

Why does this matter? For two reasons. First, if you fund your account in the same currency as your bank account, you are not charged a currency conversion fee. Second, if you trade assets in the same currency as your Revolut account base currency (i.e. USD), you don't have to pay a conversion fee.

Otherwise, Revolut's currency conversion is among the bests, you can read more about it in our digital bank review.

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Deposit fees and options

Revolut charges no deposit fees. Besides bank transfer, you can send money by using credit/debit cards, Apple Pay, or Google Pay

Revolut deposit options
  Revolut Freetrade Robinhood
Bank transfer Yes Yes Yes
Credit/Debit card Yes No No
Electronic wallets Yes Yes No

A bank transfer can take several business days, while topping up your Revolut account with a credit/debit card is instant. You can only deposit money to your trading account from your Revolut account.

Revolut review - Deposit and withdrawal - Deposit

Revolut withdrawal fees and options

Revolut charges no withdrawal fees. You can move money from your Revolut trading account to your Revolut account instantly and for free. From there though, similarly to the competitors, you can only use bank transfer to withdraw money to your standard bank accounts.

Revolut withdrawal fees and options
  Revolut Freetrade Robinhood
Bank Transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Withdrawal fee $0 $0 $0

How long does it take to withdraw money from Revolut? We tested the bank transfer withdrawal and it took 1 business day.

How do you withdraw money from Revolut? You can withdraw money from Revolut by following these steps:

  • Go to the "Payments"
  • Select Bank Transfer
  • Add your bank account
  • Choose the currency and the amount you wish to withdraw
  • Initiate the withdrawal

Compare to other brokers

Revolut review
Web trading platform

Revolut doesn't offer a trading platform on the web, it's available only on mobile. Offering a web-based application is very common today as it is convenient to use and accessible from all devices. This is a drawback.
Revolut platforms to choose from
Trading platform Score Available
Web - No
Mobile 4.0 stars Yes
Desktop - No

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Revolut review
Mobile trading platform

4.0
Revolut offers a great mobile trading platform, as it is very user-friendly and you can log in using a Touch/Face ID. The search function also works well. On the other hand, there is no two-step login.
Pros Cons
User-friendly No two-step (safer) login
Good search function Limited order types
Touch/Face ID login No price alerts
Modern design

Revolut offers a mobile trading platform they built on their own. With the advance of mobile-first services and an increased attention to user experience in the last few years, Revolut does a great job offering a mobile trading platform with a superb interface catered mostly for everyday people. It's available in 24 languages.

Revolut available languages
Bulgarian Croatian Czech Danish Dutch English
Estonian Finnish French German Greek Hungarian
Italian Japanese Latvian Lithuanian Norwegian Polish
Portuguese Romanian Slovakian Slovenian Spanish Swedish

Look and feel

Revolut mobile trading platform is user-friendly and well-designed. You'll get familiar with the platform within a few minutes.

Revolut review - Mobile trading platform

Login and security

You can log into Revolut's platform by typing a four-digit password or using the TouchID on compatible devices.

Search functions

The search functions are good,  it is easy to use by typing an asset's name or ticker.

One thing we missed is the categorization. It would better if you could filter companies based on their industry, capitalization, price level, etc.

Revolut review - Mobile trading platform - Search

Placing orders

You can only use a market order. No limit, stop-loss or other order types are accepted.

Revolut review - Mobile trading platform - Order panel

Alerts and notifications

You can't set alerts and notifications on the Revolut mobile platform. It would be a useful feature.

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Revolut review
Desktop trading platform

Revolut does not offer a desktop trading platform.

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Revolut review
Markets and products

2.0
Revolut has a limited product portfolio as you can only trade with certain US stocks and cryptos. It lacks other popular asset classes, like mutual funds, bonds, options, etc.
  Revolut Freetrade Robinhood
Stock Yes Yes Yes
ETF No Yes Yes
Forex No No No
Fund No No No
Bond No No No
Options No No Yes
Futures No No No
CFD No No No
Crypto Yes No Yes
Revolut's product offering lags behind Freetrade's as the latter offers ETFs while Revolut lacks that. Robinhood is doing better on the product front you can trade with options there, too.

Stocks and ETFs

You can trade with only ~300 stocks which are listed on the NYSE or NASDAQ stock exchanges. Freetrade has a similar offer with the difference that you can reach the London Stock Exchange as well. Robinhood's offering is much wider.

  Revolut Freetrade Robinhood
Stock markets (#) 2 3 5
ETFs (#) - 59
2,300
It's great feature that you can buy fractional shares. It means that you don't have to buy a whole share, you can buy only a smaller fraction of that. 

Cryptos

Revolut offers Bitcoin, Ethereum, Bitcoin Cash, Ripple, and Litecoin cryptos. It's better than DEGIRO's offer where you can only trade with Bitcoin and Ethereum ETNs on the Stockholm Stock Exchange. Freetrade doesn't offer cryptos.

  Revolut Freetrade Robinhood
Cryptos (#) 5 - 16

As of April 2020, Revolut extended the availability of cryptocurrencies to Standard accounts as well, making it available for both Standard, Premium and Metal accounts.

 

Revolut review
Research

1.0
Revolut offers live market data which is great, but every other research tool is basic and limited.
Pros Cons
Live market data Limited interactive charting
No trading ideas
No fundamental data available

Trading ideas

Revolut doesn't provide trading ideas.

Fundamental data

Revolut doesn't offer fundamental data.

Charting

Revolut has poor charting tools. There are no technical indicators and we also miss other charting tools, like a trendline editor. You can only use a basic chart and get a few important information, like the price increase during the past week.

Revolut review - Research - Charting

News feed

Revolut doesn't offer any news.

Compare research pros and cons

Revolut review
Customer service

1.8
Revolut has a great chatbot and the FAQ is also useful containing a lot of relevant information. On the other hand, when using the phone support, there are only some pre-recorded answers and the chat support was not only slow but we also didn't get satisfactory answers to our questions.
Pros Cons
Phone support No 24/7 support
Live chat Irrelevant answers
Only pre-recorded answers on the phone

You can contact Revolut via:

  • chatbot
  • live chat
  • phone

The chatbot is great but it can answer only the basic questions. For example, it gave clear answers about what stocks are available or what order types are offered.

We also tested the live chat which was slow and we didn't get any clear and useful answers to our questions. 

Revolut phone support was fast, but you'll get pre-recorded answers. It's great if you have some basic questions, but not suitable if you have more specific questions. 

We missed the email support

All in all, there is certainly room for improvement regarding Revolut's customer service.

Revolut review - Customer Service

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Revolut review
Education

0.0
There isn't any education material or demo account available at Revolut.
Pros Cons
None No demo account
No trading platform tutorial videos
No educational videos

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Revolut review
Safety

Revolut is regulated by the top-tier US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). It has a banking license, but it is not listed on any stock exchange and does not disclose its financial information.
Pros Cons
Majority of clients belong to a top-tier financial authority Not listed on stock exchange
Banking background Financial information is not publicly available

Is Revolut regulated?

Yes, it is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Is Revolut safe?

To be certain, we highly advise to check two facts:

  • how you are protected if something goes wrong
  • and what the background of the broker is.

How you are protected

Revolut transmits the orders to DriveWealth LLC, a company that provides the trading platform and services for Revolut Trading. Sometimes Revolut refers to them as "Third Party Broker". 

This company falls under federal regulation by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). DriveWealth is the custodian of the trading customers' assets, and trading clients are protected up to $500,000 ($250,000 cash) under the Securities Investment Protection Corporation's (SIPC) insurance.

Background

Revolut is a young company established in 2015. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Revolut has a banking license (in Lithuania), which makes it subject to tougher regulations than brokers.

Being regulated by a top-tier regulator and having a banking license are all great signs for Revolut’s safety.

Find your safe broker

Revolut review
Bottom line

Revolut's fees are great. With all three types of accounts, you can trade US stocks for free. The account opening is easy, fully digital, and fast. You can use an awesome and user-friendly mobile trading platform.

Revolut has some drawbacks though. The product portfolio covers only stocks from the US market. There are only a few research, while educational tools are totally missing. The customer service could be improved

If you want to trade with US stocks for free and prefer an easy-to-use mobile platform, Revolut is a great choice.

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