Is Revolut safe?

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All brokers reviewed by BrokerChooser are regulated by at least one top-tier authority. So in this basic sense, Revolut is legit. 

We collected and summarized the most common issues related to broker safety, allowing you to decide for yourself whether you consider Revolut safe in your individual circumstances. We also compared Revolut with two similar brokers.

Is Revolut safe?
  Revolut Freetrade Robinhood
Banking background Yes No No
Listed on stock exchange No No No
Annual financial statements Yes No Yes
Mobile two-step authentication No Yes Yes
Broker ownership transparency Yes No Yes
Broker is audited by the Big Four No Yes Yes

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Things always worth considering

 

When you assess a stock broker, it's best to take a loot at the following aspects:

  • What authority or authorities regulate the broker? In other words, who can you turn to if something goes south?
  • How much protection do you have?
  • For how long has Revolut been in operation?
  • Is it publicly traded?
  • How transparent is it?
  • To what degree do they protect your account from unauthorized access?
  • Which auditor audits the brokerage?

 

We think the most important feature is to be regulated by at least one trustworthy authority.

Revolut is regulated by the top-tier UK regulator, the Financial Conduct Authority (FCA). The FCA monitors the firms and individuals allowed to enter the financial markets and supervises how firms work, and suspends those that don't meet their standards.

Banking background

It's a good sign that Revolut has a banking background, which can be considered as a safety net. Even though i's not required by law that a struggling broker be saved by its parent bank, in most cases you can count on this happening. A banking parent is an additional layer of security.

Broker listed on the stock exchange

Revolut is not listed on any stock exchange, hence it's harder to get detailed or direct information about its financial performance.

Annual financial statements on the website

Revolut doesn't publish its annual financial statements. These are financial reports, which generally contain information about a brokerage's income, profit and loss, retained earnings and cash flows. Not having these available to the public doesn't necessarily mean that a broker is not safe or legit, it's just a factor that you should take into account when choosing where to invest or trade.

Mobile two-step authentication

Revolut doesn't provide two-step authentication when logging in, which might make it easier for hackers to compromise clients' accounts.

Broker ownership transparency

The ownership structure of Revolut is not public, it can't be checked on their website, which leaves some questions open.

Broker management transparency

Revolut is transparent about its management structure, which means that anyone can see who is in charge of management issues at the brokerage.

Broker is audited by the Big Four

Revolut is not audited by one of the so-called Big Four auditors (KPMG, PWC, Deloitte, EY), which is not necessarily an issue, however, it would guarantee another layer of safety.

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Further reading:

Author of this article

Márton Oláh

Author of this article

Márton Oláh, MSc has been a macro and value investor of stocks for 10 years on his own account. Since 2020 he has been trading options and volatility as well. Márton has founded a venture capital backed company and led it for 8 years before professionally turning to finance therefore is an expert in interpreting company reports.

Márton Oláh

Strategic Advisor

Márton Oláh, MSc has been a macro and value investor of stocks for 10 years on his own account. Since 2020 he has been trading options and volatility as well. Márton has founded a venture capital backed company and led it for 8 years before professionally turning to finance therefore is an expert in interpreting company reports.

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

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