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🚀 Trading with Revolut: British rival Robinhood attacks the market⠀
📊 Fintech Revolut has long offered stock trading services to its clients in the UK and other European countries. In the US, banking software Revolut began working in March 2020, in September last year the company received a broker license and launched a commission-free trading platform this week. US traders will be able to trade in full and fractional stocks listed on the NYSE and NASDAQ, including over 200 exchange-traded funds.
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Revolut was valued at $33 billion during the latest funding round. The launch of a trading platform inside Revolut banking software is part of the company's strategy to create a financial super service: in addition to supporting money accounts and payment services, users can perform cryptocurrency transactions and generate savings.
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Just like the scandalous Robinhood Markets and Charles Schwab Corp, Revolut relies on pay-for-order flow (PFOF) to generate revenue: the company receives compensation and returns from redirecting customer orders to third parties for subsequent fulfilment. While the SEC is considering a ban on this scheme, Revolut is confident that it will become the new standard for exchange trading. In addition Revolut software can be easily adapted to any changes in regulations.
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Profits to y’all!