Has anyone tried using Revolut to trade USD stocks?
I recently signed up with ii.co.uk (interactive investor - formally known as TD) as they provide the ability to hold USD so you can buy and sell USD stocks (e.g. Facebook) without constantly incurring significant FX charges when converting from USD to GBP and back.
I had the idea of transferring money to Revolut in GBP, converting to USD then sending the money to ii.co.uk as they provide an IBAN and BIC for USD transfers. When I contacted their support they did suggest that i’d need a USD account in my own name for this to work - so i’m not sure a Revolut transfer will actually go through. I just sent them $10 to test… and i should find out by Tuesday if the account received it.
Has anyone tried this before?
The reason I went down this route is that last week I bought some Facebook shares on Hargreaves Lansdown and got destroyed with a 1.5% conversion charge.
On another note - it would be good if Revolut could provide a service like Robinhood - free share dealing.