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Revolut Becomes Latest App-Based Broker Courting U.S. Investors

The app, wich will compete with the likes of Robinhood and Webull, will allow trading in listed stocks and exchange-traded funds.

(Bloomberg) -- Revolut Securities Inc. is launching a U.S. trading platform, the latest app-based broker to court a generation of younger investors.

The app will allow trading in listed stocks and exchange-traded funds, according to a release Wednesday. 

Revolut is entering an increasingly competitive industry, where mobile-forward brokers including Robinhood Markets Inc. and Webull Financial vie for the loyalty of traders who piled into equities, options and crypto during the pandemic. The boom raised regulatory alarm bells at times, with Securities and Exchange Commission Chair Gary Gensler researching the ways mobile trading apps hook their customers, or “gamify” investing.

“We don’t want to promote irresponsible investing,” said Gabe Vallejo, Revolut’s U.S. head of wealth and trading. “We made sure to have nothing that would look or feel like gamification in our app.” 

Read more: Robinhood Wannabes Dare Regulators With Embrace of Games, Prizes

Revolut started as a money-transfer and exchange business in the U.K. in 2015, and has since branched to other locations, including the U.S., Japan and Australia.

 

TAGS: Equities ETFs
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