Revolut Challenges Robinhood and eToro with New Retail Wealth App
Hey FinTech Fanatic!
Revolut is making moves in the world of wealth management, spinning out its €8.5 billion investment offering into a brand-new standalone app, Revolut Invest.
Aiming to rival the big ones, Robinhood, eToro, and other big names, Revolut Invest will debut with nearly 5,000 assets, including US and European stocks, ETFs, commodities, bonds, and new products like contracts for difference (CFDs).
Revolut announced that equity and bond investments will be subject to a flat fee of either 0.25% or €1, while fees for contracts for difference (CFDs) will vary.
This new app, currently being tested in Greece, Denmark, and the Czech Republic, plans to expand across the European Economic Area by year-end, Rolandas Juteika, Revolut’s head of wealth and trading for the region, said in an interview.
Now, the big question is: Can Revolut Invest carve out its space among established giants like Robinhood and eToro?
What do you think? Tell me more in the comments.
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FEATURED NEWS
📱 Revolut is spinning out its €8.5 billion wealth management offering into a standalone app, called 𝗥𝗲𝘃𝗼𝗹𝘂𝘁 𝗜𝗻𝘃𝗲𝘀𝘁, seeking to compete against the likes of Robinhood and eToro. The app will offer nearly 5,000 assets on debut, including US and European stocks, exchange-traded funds, commodities and bonds, as well as new products such as contracts for difference.
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MOVERS & SHAKERS
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