Revolut for Investing

[Viridis]

Has anyone used / tried the investment feature (share purchase) in the Revolut App?

Any dp? Pros/cons?

 

[SYD]

Has anyone used / tried the investment feature (share purchase) in the Revolut App?

Any dp? Pros/cons?

They’re probably like most small / micro trading apps in that they hold your shares on trust (ie not CHESS sponsored). The upside is you can buy bits of shares (doesn’t have to be whole numbers). The downside, you’re not technically the registered owner. If Revolut goes belly up, your bits of shares go with them.

To overcome that last issue, it’s easy to set up a Commsec, Nabtrade etc account for free and transfer whole shares from micro traders into a CHESS sponsored trading account (again, should be free).

But first - make sure both accounts are in identical names and address.

 

[Viridis]

They’re probably like most small / micro trading apps in that they hold your shares on trust (ie not CHESS sponsored). The upside is you can buy bits of shares (doesn’t have to be whole numbers). The downside, you’re not technically the registered owner. If Revolut goes belly up, your bits of shares go with them.

To overcome that last issue, it’s easy to set up a Commsec, Nabtrade etc account for free and transfer whole shares from micro traders into a CHESS sponsored trading account (again, should be free).

But first - make sure both accounts are in identical names and address.

Yeah, thanks. Got a Commsec account.

Wasn't aware that you can transfer whole shares - eToro specifically says you can't. Likewise Superhero.

Maybe i'm misunderstanding it.

 

[SYD]

Yeah, thanks. Got a Commsec account.

Wasn't aware that you can transfer whole shares - eToro specifically says you can't. Likewise Superhero.

Maybe i'm misunderstanding it.

I have a Superhero account that I set up for some QFF points promos. I’ve transferred several things into SH to sell (cheaply) but not back out - as far as I can recall. But now that you’ve mentioned it, it’ll try.

I think the trick is to pull them out using a B2B request from your CHESS sponsored account?

 

[SCM]

I think it's convenient if you want all your finances in one finance-super-app, however apart from that I think there's little benefit over other options.