Crypto-friendly money app Revolut launches fractional stock trading service
UK-based Revolut app, which offers cryptocurrency trading, has now launched a stock trading service that allows you to buy fractions of shares.
The service is currently available only for over 300 U.S. stocks that are listed on the New York Stock Exchange and NASDAQ, Revolut announced Wednesday, adding that it is also only available for the “Metal” card customers at present.
Revolut said it plans to offer U.K. and European stocks, as well as exchange-traded funds or ETFs, and also cover its “Premium” and “Standard” card customers in the future.
Fractional stock trading allows you to invest as little as $1 in shares of companies, especially those that cost thousands of dollars such as Amazon and Google.
Revolut said it doesn’t charge any fee for Metal customers who punch up to 100 trades per month. Any trade above that ceiling costs £1 (~$1.21) per trade and an annual custody fee of 0.01% of an investment portfolio value.
Crypto investing app Abra also recently launched a fractional stock trading service that converts your bitcoin into stocks like Facebook and Google.
