In august metal users had a trading platform and said it will be open also for standard users in weeks, it passed more than a month but I do not see the feature?
It’s not even worth using if that helps
No tax advantage accounts
No UK shares or ETF’s
No Japanese shares or ETF’s
No HongKong etc ETF’s or shares
0.1% asset holding fee
There’s no W8 form for less withholding tax on US shares either… so it’s really inefficient to trade with!
I’m using it. As a beginner I don’t have any complain except W8 form. They don’t cut you profit from selling stocks, only with dividends! The 0.1% fee it’s still in hold, doesn’t not apply at the moment.
The may need to fix a more professional looking trading tool!
They garnish dividends? Ew
My dividends are for reinvestment - they should be considering this a metal perk and charging for standard (and/or) premium users
This has to do with US taxes.
After W8 form we will not have to pay US taxes as European residents.
I have beta app and trading is now available from today to answer my own question
Which beta version of the app you have?
I’m also using the latest beta, yet I can’t seem to find the trading option for the life of me.
Am I missing something here?
Where do you have this option? Or it is country restricted. I have beta app, but I don’t have trading tab
I have read it in the description in TestFlight but today strangely I had 2 more updates and now it is gone?!
I received an email today saying that the trading facility is now available to Premium account holders. They write that the asset holding fee is just 0.01%, not 0.1%. (A possible misprint?) I tried signing up and found there is facility for completing a W8-BEN. I think there is an inactive account fee, but I cannot find where this is or how I would close my account.
No, its 0.01%.
I’m wondering why all the metal early users can’t complete the W-8 BEN form.
Revolut says that it wasn’t ready back then (1st August). Well, how can we fill it?
My apologies, it is 0.01% but imagine if you’re holding a bunch of assets
0.01% + tax is quite scary
They calculate the total amount of your investing account not individual holding.
That 0.01% fee it’s standard in every US broker.
They aren’t a US broker - they’re a British broker
They use DriveWealth
We will not execute your Orders, but rather will transmit them to the Third Party Broker, who will be responsible for execution. We cannot control the execution of your Orders once we transmit them to the Third Party Broker and there is no guarantee that either we or the Third Party Broker will accept your Order.
0.01% is not bad compared to AJ Bell 0.25% or Hargreaves Lansdown 0.45%. Someone with £100,000 assets should not balk at a £10 per year charge, surely? And eight free trades a month. I’d say the main disadvantage is the limit of trade size to $1000. So paying £1 for a trade, once free trades exhausted, means a trading. charge exceeding 0.1%. But otherwise, looks a good option for someone wishing to invest a bit each month.
Does anyone know if it’s possible to use an existing DriveWealth account with the trading function?
does anyone know which stocks on Revolut are cumulative preferred stocks? (In order to avoid paying tax for dividends) Or where we can find a list of them?
I tried asking support via chat however they weren’t very helpful saying that they don’t give financial advice.
Couldn’t tell you, all I know is Revolut Wealth isn’t for me until they get some tax free accounts