You need to sign the W8N form
How? I joined in August and it wasnāt available back then.
After public release they said its an automated process.
From experienced - this works but:
- Risk is high
- Time is long
- Result isnāt known
And investments includes risk lose your money. Iām tested also binary options before I tested Revolut -
If you know, what you doing. Then risk is your.
From exit of situation, I recommend you signing to TV shows. One good method, how it works - start vlogging.
You had to provide your taxID (adĆ³szĆ”m) during registration. I assume Revolut will pass all the required info to the Hungarian Tax Auth. (NAV). But thatās your responsibility to add your gains to your personal tax report if they are missing from the NAVās proposal. The tax is 15% in Hungary.
Probably (although not sure) Revolut will pass everything to the local tax authorities (NAV). Whatever earnings you made should be declared in a separate field then they will cut their 15% of it. It is key to understand that you only provide your earnings (self declaration), but NAV can find you anytime in the next 5 years requesting to prove that the number you provided was correct. (As I wrote above the NAV may already have the number, and checking if you claim itā¦ or not, we dont know)
If you are an employee then simply let NAV prepare your tax report for 2019 and then add your earnings to the relevant line.
You need the W8 form avoiding the double taxation of the dividents (if you earned any). If you dont have that then the dividents are taxed 15% by the US authorities and then again by NAV which just melts good amount of your profit. At this point I have no idea how to get the form and what should we do with that actually. I have earned very little dividents so its not that much of an issue for me, but if you were payed lots of dividents then you may want to investigate this.
1 Like
The W8 doesnt have to be signed as you have signed it already when you signed up for the stock trading platform of Revolut. As far as I understand the problem is that Revolut does not provide you a copy of the signed document.
Do you know what ācash disbursementā means in the statements for the trading account?
At first I thought it represents my deposits, but the numbers are not corresponding to my top-ups
2 Likes
Any news about ETFās coming to revolut?
3 Likes
Fully agree with your comment. Since Revolut asked me for my Tax ID when opening the trading account, I am assuming that they will pass on any relevant information to my local tax authorities. Having said that, it would be nice to get a personal copy to understand what is being declared and how it was calculated.
2 Likes
The question to Revolut.
May I give the company TAX ID and buy the stock in the name of it with Revolut?
No thatās not supported yet, only personally can you buy stocks
Even when itās supported it will likely be business accounts only
But it will need to come after ETFās
Hi,
I think it would be really useful to implement personal Watch lists for tge Stock/Traiding (not only the general one, but separate ones to have your own lists for your own categories)
What are your thoughts on this?
9 Likes
Hi, does anyone knows why Moderna stock (MRNA) is not available to buy? The categories watchlist also would be a great one. It also would be good to visualise your final balance counting all you have topped up to the investment section.
Canāt wait to see more of the wealth features! The ones you mentioned would be a good start 
Hi Jessica,
Hope your well. Forgive me if Iām sending to the wrong thread.
Regarding the trading platform. When companies pay their dividends to investors is there any chance instead of it being credited to the respective account, could it be reinvested automatically into the specific share automatically. You would have to take into account minimum dividend payouts for example Ā£10. That way I think your clients would be more keen in holding positions and investing more thus giving Resolut more credibility in trading. Plus you could speak to the brokers and see how much commission you guys could potentially make on each transaction. Just an idea.
Steve
1 Like
Hi all
New to this but have one frustration. In the currency section of the Revolut app you can set an āautotradeā to buy or sell when a particular target is reached. This means you can set it up and not miss out on a good rate. Why is this not available in the trading app?
Dave
1 Like
Hi Dave
They recently had the head of the trading product leave and theyāve hired someone to replace him who has experience in this area
They actually work with an American partner to do trading at the minute so this isnāt an easy change I believe. It should come eventually though!
1 Like
I agree that would be a great idea, the only issue I see with it is that it is not an instant buy so the price can differ slightly from what you wanted to buy/sell at. Maybe this is the reason as they donāt want to be liable for losses?
1 Like
I think there are a few things to consider:
- Revolut is a cool app but not a āhardcoreā online broker, I mean you can buy stocks here but itās limited (no day trading, Short positions, limit, limit/stop, buy/sell outside of working hours, or do other items, like ETFs, etc)
- What you can do is to check the actual price and buy stock on market price (this means, you accept the CURRENT market price, which could be +/- 1-2% price difference or less/or more)
- I think itās a pretty good idea to offer this opportunity to a wider group of Users, trying the stock market without fees (or with minimal fees). But this is not about buying hundreds of expensive stocks, monitoring and investing there on a daily basis. If youād like to do that, you might know where to do that (and use a professional broker with higher fees but with particularly broad range of options).
- If you miss the above options then itās probably better to use another app
I think itās important to add this note: be aware how the stock market works, as itās risky (especially nowadays because of the high volatility) and thereās also taxation (so itās not for āfreeā:))
2 Likes