Revolut has launched a standalone platform, Revolut Invest, expanding its wealth management offerings, including contracts for differences (CFDs). The new app will also offer around 5,000 other assets, including US and European stocks, exchange-traded funds, commodities, and bonds, as reported by Bloomberg.

Revolut Invest's Trial in 3 EU Countries

The British fintech is offering CFDs through its Lithuania-regulated entity, Revolut Securities Europe UAB. It is first offering CFDs in three European countries: the Czech Republic, Denmark, and Greece, according to the terms and conditions on its website.

Bloomberg further reported that the Revolut Invest app is currently in the testing phase in these three EU countries, with plans to expand to other European Economic Area countries by the end of the year.

Revolut partnered with CMC Connect earlier this year to enter the CFD market. However, the latest terms do not mention CMC’s institutional arm, which handles execution and clearing, but state that execution is managed by a “third-party broker.”

According to its website, Revolut highlighted that trading terms for CFDs will apply from 26 June 2024, and its deal with CMC was sealed just a week before. Additionally, Revolut partnered with GTN to offer bonds to its EU customers.

A Competitive Market

Revolut is Europe’s largest fintech by valuation. In a recent secondary stake sale, the company was valued at $45 billion. Although it operates in the EU with a Lithuanian banking license, it only recently received a banking license in its home market, the UK.

Revolut’s entry into the wealth management industry now positions it as a direct competitor to Robinhood, eToro, Trading 212, and Freetrade, which already dominate the retail investment markets.

The British fintech will charge a flat fee of either 0.25% or €1 for equity and bond investments. However, its fees for CFD instruments, which are more suited to active traders, will vary.

“We may impose and/or vary costs from time to time where we have a valid reason for doing so,” Revolut noted in its CFD terms. “We will charge you a variable fee for each CFD transaction where the underlying asset of such a transaction is listed equity shares.”