Aiming to capture a larger share of the retail investor market, fintech firm Revolut has set the ball rolling to launch a new standalone app called ‘Revolut Invest’, according to a report in the Business Post.
The move will see the Europe’s most valuable fintech competing against the likes of Robinhood and eToro in the retail investor market.
The app, which will expand Revolut’s €8.5 billion wealth management offering, will provide nearly 5,000 assets on debut for trading, including US and European stocks, exchange-traded funds (ETFs), commodities, and bonds.
Additionally, the platform will feature new products such as contracts for difference (CFDs), enhancing its appeal to a broader range of investors.
Revolut plans to keep fees competitive, offering equity and bond investments for a flat fee of either 0.25 per cent or €1. However, charges for CFDs may vary depending on the specific product. These pricing models are designed to attract retail investors seeking low-cost trading options.
Currently, the app is in the testing phase across Greece, Denmark, and the Czech Republic. According to Rolandas Juteika, Revolut’s head of wealth and trading for the region, the platform will be rolled out to other countries within the European Economic Area by the end of the year.