Revolut Ventures Into Stock and CFDs Trading
Revolut has received approval from the UK Financial Conduct Authority (FCA) to operate as an investment firm. This approval allows Revolut to expand its services to include stock and CFDs trading.
About FCA Approval
The UK FCA has granted Revolut approval to operate as an investment firm. This new status permits the company to introduce stock and CFDs trading services in the UK. Previously, Revolut operated under the FCA’s regulation as an Authorised Electronic Money Institution.
Currently, it is an FCA-Authorised Electronic Money Institution. Its listing on the FCA register does not yet reflect its investment firm license. The approval might get updated soon.
EU Expansion: Revolut Invest
The firm has also introduced the Revolut Invest app to cater to the EU market. They are currently testing the app in select markets, including Greece, Denmark, and Czechia. These pilot programs allow the company to refine its offerings before a broader EU rollout.
The Revolut Invest app shws the company’s focus on making trading accessible to a wide audience. By targeting both the UK and EU markets, Revolut will serve a diverse and extensive customer base.
Effects in Users
This update will have these effects on users:
Increased Access to Trading Services
Revolut’s expansion allows traders and investors to access stock and CFDs trading directly through the platform. With its seamless app interface, users can now combine traditional banking services with trading activities.
Lower Barriers to Entry
The company is known for offering cost-effective solutions. Its entry into the stock and CFDs market could mean lower fees.
More Competition, Better Offers
Revolut’s presence in the trading market increases competition among brokers. This could lead to better pricing, innovative tools, and improved customer service.
Integrated Financial Management
Revolut’s platform now enables users to manage banking, payments, and trading in one place. This integrated approach can help traders and investors streamline their financial activities.
Opportunity to Test New Trading Technologies
The introduction of Revolut Invest in EU markets provides an opportunity to experience new trading technologies. The platform’s development focus on UK and EU-listed products promises tailored solutions for regional markets.
About Revolut
Nikolay Storonsky and Vlad Yatsenko founded Revolut in 2015. It is a London-based financial technology company. It offers varied services, including banking, currency exchange, debit and credit cards, virtual cards, and stock trading. The company operates in 38 countries, serving over 45 million customers. In 2023, Revolut reported revenues of $2.2 billion and a net profit of $428 million.
Summing Up
Revolut’s entry into the stock and CFDs trading market shows its ambition to diversify and innovate. The FCA approval for investment firm status and the rollout of Revolut Invest highlight its commitment to delivering comprehensive financial services.
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