Aiming at more advanced traders in Europe, Revolut has rolled out a new subscription service called Trading Pro. For now the new product is available across the European Economic Area (EEA), however, in the future it may be expanded to other jurisdictions.
Revolut Unveils Trading Pro for Investors in the EEA
Trading Pro comes with a range of benefits when compared to existing subscription plans. For instance, users can take advantage of lower commission fees, which have been slashed to 0.12% from the previous 0.25%. This discount applies to trades that exceed the free trade allowance of existing Revolut plans. However, it's worth noting that other fees may still apply.
Another feature is the increased order limits for trading in US and EEA stocks, as well as Exchange Traded Funds (ETFs). The new limits range from $10,000 to $1.5 million per order for US stocks and up to €1.5 million for EEA stocks and ETFs. The maximum number of shares allowed per trade has been capped at 50,000.
“Trading Pro is tailored to meet the specific needs of advanced traders, offering them a set of tools designed to enhance their trading capabilities,” commented Rolandas Juteika, the Head of Wealth and Trading (EEA) at Revolut. “We see an increasing customer base with higher portfolio values using Revolut for bigger trades, with the need of deeper portfolio analytics and desktop tools. Trading Pro is here to solve these problems.”
For those who rely on data-driven strategies, Trading Pro offers advanced portfolio analytics. These include performance benchmarking, profit and loss tracking, and portfolio allocation. Additionally, the service provides a desktop Trading Terminal, where users can set up custom workspaces, monitor market trends, and execute trades.
Revolut's Extended Market Hours
Revolut has also extended market hours for trading US stocks. The new trading window now spans from 4 AM EST to 8 PM EST. The company had previously introduced the option for commission-free trading on European stocks.
Revolut is not alone in extending trading hours for the US stocks. Several other popular retail trading service providers have also adopted this approach. Among them are eToro, which has expanded its CFD stock trading hours, Robinhood with its 24 Hour Market service, and Interactive Brokers offering overnight trading for more than 10,000 stocks and ETFs.
A recent report by Spectrum Markets indicates that this trend is catching on, as 35.3% of individual trades now occur outside of traditional market hours. Traders are most active in indices, making up 79.2% of the activity. The most commonly traded instruments during these hours are the DAX 40, accounting for 25.3% of trades, followed by the S&P 500 at 20.8%, and the NASDAQ 100 at 18.8%.
The Revolut’s Trading Pro subscription is available for a monthly fee of €15, with a one-month free trial offered to new users. To access this service, users must already have a trading account with Revolut.
