Currency trading confusion


#1

Hello all, I am a bit confused. The founder of Revolut explicitly states that the reason he likes Revolut premium is because of the option to do currency trading with it. But then in the terms and conditions it says you can’t do this? What did he mean by this then? He is quoted as:

"Storonsky, a former currency trader with Credit Suisse, said: “From my side, the reason I would use it is purely because of FX. I can effectively buy and sell currency at any time at the interbank rate without paying any commissions. Nowhere in the world will give you this opportunity because they all charge commission, take a cut etc.”


#2

Can you point to the paragraph where it does so?


#3

use the Revolut Services to trade FX for speculative purposes or for FX arbitrage;

19.1 - AA.


#4

It’s 9.1 I believe Alessandro


#5

Thanks for that bit.

That would be actually contradictory and might be the classic case where a marketing statement clashes with the legal department :smiley: but my best guess is that his statement was not in regard to actual trading but simply about the regular exchange of currencies.


#6

Storonsky was saying this for himself!!! It’s what he is doing with all our money. But us, we are not allowed to do it.