Revolut continues to bet on offering services that go far beyond traditional banking from your mobile phone. If we already saw that Bitcoins could be bought in Revolut and other crypto , now we will tell you how you can buy stocks on the web and application of this fintech.
📈Guide to buy shares in Revolut
As with cryptocurrencies, it is very simple and in two minutes you can invest in the stock market. To do this, the first thing we have to do is go to the Savings and Investment tab (second tab of the app) and there we go to Actions :
If this is the first time you enter Revolut , you will have to accept a series of legal conditions and fill in your details . This is common when you enter any stock broker for the first time.
In the actions tab, the first thing you have to do is Add money from your Revolut account . Keep in mind that they are like different accounts, on the one hand your checking account and on the other your investment account to buy shares.
With the money in your investment account, you can start buying shares with Revolut . To do this, click on Invest and a search engine appears to choose the shares we want to buy. It is important to mention that in this application we can only invest in companies that are listed in the United States .
Once you have chosen the company in which you want to start investing, we enter it and click on Buy . It will be as simple as putting the amount you want to buy and the order will be executed when the market is open (if it is not).
In addition to this purchase order at market price , Revolut offers us two more options to get the entry price we want:
- Limit order : Stop buying at a limit price or lower
- Stop Order : Activate a market purchase when the price we set is reached
To activate these options, you just have to click where it says Market order , under the text Buy + action name that will appear on the final purchase screen.
When you have the shares in your possession, from this same section you can sell them and end your position in whole or in part. To do this, we will click on the Sell button that will already be active.
💸Commissions for buying shares in Revolut
Commissions for purchase – sale of shares
Revolut does not charge any commission for your purchase of shares as long as you make three purchases or less in a month. From the fourth you will have to pay € 1 for each transaction.
Once a month has passed since the last purchase of shares made, you can have the three free purchases again.
Commissions for custody
This fintech also charges you a commission for custody . This commission is monthly (it must be paid every month) and is 0.01% per year . Monthly you will pay approximately 0.001% of what you have invested at that time.
Commission for dividends received
As we are trading in US stocks, 15% must be removed to pay withholding for these dividends as a non-US citizen.
Revolut does so, although sometimes they will charge you 12-13% and other times 17-18% for rounding. But on average if that approximate 15% comes out for each dividend collected.
Keep in mind that you will only have to pay this 15% when you collect dividends. Not all stocks pay dividends nor will it be every month.
💎Commissions for buying shares with Revolut Metal
If you have the Revolut Metal account (€ 13.99 per month), in addition to the advantages of this upgrade of your account, you will have better conditions when you trade with this bank.
In fact, with Revolut Metal you will have no limit and all share purchases will be commission free .
With Revolut Premium (€ 7.99 per month) you have 8 investments per month .
In both accounts, the custody fee of 0.01% per year and 15% as withholding for dividends is still in force when you buy them.