Revolut as a trading platform

dont_use_vistaprint

Can anyone advise any pros and cons of using the Revolut app to buy and sell shares vs others like H&L and Vanguard. 

Thanks

Thrugelmir

On the Vanguard platform you are restricted to their own products. 

EdGasketTheSecond

These reviews dont look very promising; I particularly dislike:

"No direct contact email or phone number to help when something goes wrong."

From:

https://play.google.com/store/apps/details?id=com.revolut.revolut&hl=en_GB

Alexia Berta Demetriou

14 April 2020

11

The app keeps asking for my phone number and after sending me a code it says "something went wrong". This has been going on for 4 days now and I am unable to make payments for services which is so frustrating!!!! Uninstalled and reinstalled several times to no avail. Great idea but the implementatio

Achraf Boukerrou

14 April 2020

10

- You will need to try one hundred times to confirm your identity, the app has a silly bug in the era of technology. - To order your physical card, you will need to pay for the posting fee, which is beyond ridiculous, we are keeping our money at you, and on the top of that we will have to pay for th

Edward Donlon

10 April 2020

30

No direct contact email or phone number to help when something goes wrong. Had a bank transfer "misplaced" by them and kept in limbo for 5 weeks. Was repeatedly told contradictory and false information in the in-app chat support. Totally unacceptable. They're fine to use for small amounts between fr

dont_use_vistaprint

Thank don't have an issue with app or service been using it for a few years without any issues, was more interested in it as a trading platform vs other popular ones.

So I went ahead, the app seems really easy I just signed up from within the app in my bank account and invested in Amazon and Apple using daily free trades, they trades were near instant,  it uses the same UI as for Live FX so you can see exactly where you are on investments against your buy price and the same methods to fund and withdraw as for the bank account. It all build on the same concepts so if you are used to using Revolut its very very simple, but I don't know enough about S&S trading to know if its a good product compared to others like H&L & Vanguard, I'm sure theres things to consider other than UX !

kinger101

HL and Vanguard provide wrappers such as SIPP and ISA which have tax advantages. Don't believe Revolut provide such wrappers.  According to Revolut, it's 850+ stocks, whatever that means, but substantially less that you'd find on HL.

dont_use_vistaprint

kinger101 said:

HL and Vanguard provide wrappers such as SIPP and ISA which have tax advantages. Don't believe Revolut provide such wrappers.  According to Revolut, it's 850+ stocks, whatever that means, but substantially less that you'd find on HL.

Yes noticed the choice is limited to American markets and no option for ISA. Is there any app similar that allows access to UK markets , ISA and live trades with similar costs e.g £1 per transaction or do you need to use H&L or Vanguard websites 

dont_use_vistaprint

Just installed H&L app and it looks like it’s £11.95 per trade plus 0.45 per annum fees. Is this competitive / typical prices for trading UK stocks . Thanks 

wmb194

dont_use_vistaprint said:

Just installed H&L app and it looks like it’s £11.95 per trade plus 0.45 per annum fees. Is this competitive / typical prices for trading UK stocks . Thanks 

Monevator has a comparison: https://monevator.com/compare-uk-cheapest-online-brokers/

It's not *untypical* but you can do better depending on the size of the portfolio and what you want to do e.g., iWeb - part of Halifax Stockbrokers - has a £25 account opening fee and is then £5 per trade and no on-going costs, AJ Bell is £9.95 per trade and 0.25% max £7.50 per quarter. Both their websites are rubbish, though. Freetrade - app based - has no commissions or fees with its taxable account or it's £3 per month with its Isa but I wouldn't bet my life on it as it's a start-up and has a relatively limited number of shares to choose from and I don't think it has funds. It does have the usual FSCS broker coverage, though. 

I have multiple brokers and do different things with each depending on their strengths and fees for particular things.