Australian Revolut users can access a new feature that may prove rather appealing. Buying and selling fractional shares of NYSE and NASDAQ stocks is intriguing. Moreover, it changes the way people think of investing in publicly traded companies.
A New Tool For Revolut Down Under
Fintech companies can often roll out some unusual features to their users. Revolut, a company active in multiple regions, wants to make US stocks more accessible to Australian users. Through fractional share trading, anyone can invest US$1 or more into companies like Amazon, Tesla, Netflix, and others. All investors receive real-time market data, stock charts, price alerts, and more within the Revolut app.
Revolut Australia CEO Matt Baxby adds:
“There are so many barriers for Aussies who want to invest in the US stock market. Traditional providers sting customers with a whole slew of hidden fees including brokerage, markups on foreign exchange into US dollars, as well as deposit and withdrawal fees. By offering commission-free trades and our market-leading FX rates, our stock trading feature sets out to simplify things and give investors more money on their trades, and less on fees.”
To make the sharing of trading portfolios either, users can tap into the social trading feature. It is a good way to share portfolios and view other people’s investments. Eve so, it remains advised to manually research markets before copying someone else’s portfolio.
Revolut has an Australian customer base of over 100,000 users. An impressive number, given it launched there in August 2020. Users benefit form a multi-currency transaction account, remittance solutions, automated budgeting, access to commodities and crypto assets, and more. Enabling fractional share trading makes the offering more competitive.