Fintech giant Revolut has launched a new set of tools for advanced market traders for a monthly fee of €15.
The company, which has more than 35 million customers worldwide including 2.5 million in Ireland, said its Trading Pro subscription offers investors discounted commission fees at 0.12 per cent, down from 0.25 per cent, for trades exceeding the current free trades allowance.
For data-driven decisions, Trading Pro users can access advanced portfolio analytics, including performance benchmarking, realised profit and loss tracking, and portfolio allocation.
Trading Pro also comes with a desktop trading terminal where active traders can set up custom workspaces, monitor market trends and execute trades.
Revolut head of wealth and trading Rolandas Juteika said the subscription is designed to meet the specific needs of advanced traders.
“We see an increasing customer base with higher portfolio values using Revolut for bigger trades, with the need of deeper portfolio analytics and desktop tools,” Mr Juteika said.
“Trading Pro is here to solve these problems. We continue working on opening a wealth and trading space for a wider customer range with a robo-adviser service, mutual funds and bonds being next on our list.”
The new Trading Pro subscription plan is now available in the European Economic Area for a €15 monthly fee, with a free trial for the first month. Only users who have a trading account can upgrade.
This is the latest product to be rolled out by Revolut in recent months. In July, the company said its app would take “just minutes” to issue customers a quote for their car insurance when it made the product available to consumers. The business suggested its policies would be up to 30 per cent cheaper than its competitors in the Irish market, while also offering further discounts for existing Revolut customers.
