Revolut attracts Millennials to investitsiyna Saveliev | 01.08.2019
British FINTECH company Revolut launched a service that allows you to buy and sell (including fractional) shares of the popular U.S. companies.
“It’s about attracting people who were previously excluded from the development of their personal wealth. This gives them another way of saving from a young age.”, – said Andre
Mohamed, head of the sales team Revolut, adding that low interest rates make it difficult savings Bank customers.
Therefore, the framework for stock trading designed essentially for the Millennials, still cautious relevant to this field. In addition to the usual full purchase Revolut
given the opportunity to buy shares of partially. The minimum amount for possession is one dollar. According to the company, this is the first service that introduced the fractional shares in the United States and Europe.
At the moment the feature is only available to holders metallic card with a monthly fee in the amount of 13 pounds, however Revolut said it plans soon to distribute
service to other users. While ordinary customers will be open no more than three transactions per month for a premium subscription fee of 7 pounds to eight, and the metal card holders
– up to a hundred. Additional transactions will be charged at 1 pound sterling.
And although the Commission is not, in the future, where possible, will be applied to transit fees, as well as to apply about 0.01% for storage. In the future it is planned to add British and
European shares, along with shares ISA.
To facilitate the trading is us broker DriveWealth. Now Revolut no plans to make the platform as its direct source of income, but hopes to gradually entice users to
the premium segment and capitalize on this.
After the announcement of the release of the FINTECH market, the service began to compare the failure of the recently Robinhood. However, Mohamed said that it is unjustified and unfair because Revolut has its own
ecosystem and company wants to offer its users more features based on different demographics and price level.
Revolut was founded in 2015 and gained popularity in the UK and Europe due to the service, where customers are exempted from paying fees by overseas transfer. The largest loyalty
the company has received is from young people.
Freetrade, a direct competitor to the new platform, took the appearance of a rival on the market positively and noted that a large selection is great, despite the “uncanny resemblance” products.
Action, FINTECH
