Revolut is now set to compete with companies such as Trading 212, Hargreaves Lansdown, and AJ Bell in the competitive UK trading market.

Revolut’s market entry is set to heighten competition among retail investment firms in the UK, which is a space that is already packed with activity. Over the past decade, numerous fintechs and trading platforms, such as Etoro, Freetrade, and Robinhood –offering access exclusively to US stocks – have carved out their share of the market.

Revolut, which serves over 650,000 UK trading customers, previously operated through a partnership model, which enabled users of its app to invest in shares that were listed in the United States.

In July of this year, the company obtained a UK banking license after a three year wait, although this did come with certain restrictions. This development removed any lingering regulatory uncertainty, allowing Revolut to continue its advancement of plans in the UK.

Yana Shkrebenkova, Revolut’s Head of Wealth and Trading in the UK, wrote on LinkedIn: “Our UK Trading business has been granted our very own UK trading licence by the FCA.

“This will allow for significant improvements in user experience for our 650,000+ existing UK trading customers, paving the way for new trading products and features.

“We stay committed to helping our customers of all wealth levels feel confident in making good investment decisions and understand the associated risks.”

Based in London, Revolut is among a select group of financial apps that have reshaped the sector in the past decade by offering branchless services to customers.

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