Revolut is now a licensed U.S. broker-dealer.
As part of this development, users will be able to fractionally buy and sell shares of their favorite ETFs and companies listed on the Intercontinental Exchange-owned (NYSE:ICE) New York Stock Exchange and Nasdaq Inc (NASDAQ:NDAQ) exchange.
Bonus: No commissions, custom order types such as limit and stop-limits, as well as tools to research and analyze security data such as the top 10 holdings in ETFs.
Why It Matters: Revolut is looking to capture a share of the large U.S. stock trading market from competitors like Robinhood Markets Inc (NASDAQ:HOOD), the company is best known for demystifying investing and saving with its intuitive trading and cash-management platform.
“This to us was just the next logical step,” said Gabe Vallejo, Revolut’s U.S. head of wealth and trading. “We’re confident we can continue to offer this product to our customers in the most efficient manner possible.”
