Revolut has been granted a UK trading licence by the FCA, paving the way for new trading products and features for UK customers. Since 2019, the challenger bank has operated its Trading feature as an Appointed Representative with a Principal in the UK.
This partnership allowed Revolut to offer an investment service through its app, where retail customers could buy and sell shares listed in the US.
Up until now the real growth for Revolut has been through its banking service. The company has reached the 50 million customer milestone at high-speed, growing by over 10 million customers in 2024 so far and becoming the most downloaded financial app in the UK and across all of Europe.
This follows a bumper year for Revolut, which in 2024 received a $45 billion valuation, was awarded a UK bank licence with restrictions from the Prudential Regulation Authority (PRA) whilst in the mobilisation stage, and announced its 2023 group revenues had surpassed $2.2 billion with record profits before tax of $545 million.
Revolut said this week it has aggressive plans to continue to grow its customer base towards the 100 million milestone, while also rolling out new and innovative services to become the primary bank of choice for its customers.
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Revolut Trading is serving 650,000 UK customers
Now with its own stand-alone licence, Revolut Trading Ltd is an authorised investment firm. This will allow for significant improvements in user experience for its 650,000+ existing UK trading customers, paving the way for new trading products and features.
Of note, in 2025 Revolut is looking at introducing UK and EU stocks and ETFs, as well as refreshing the app and launching new products and features, as it commits to helping customers of all wealth levels feel confident in making good investment decisions and understand the associated risks.
Yana Shkrebenkova, Head of Wealth and Trading UK at Revolut, explained: “Having launched our successful investment product five years ago, we strive to bring best in class investment products to our customers in the UK. We know that there is so much more our Revolut Trading customers want from our platform and we are working hard to deliver on this, rolling out new features safely and considerately. Revolut exists to help people get more out of their money, and today’s announcement is another step in our journey of delivering that.”
Nothing currently changes for customers who invest with Revolut and UK customers can continue to use the app’s trading features as they always have. Any further changes will be communicated with customers promptly.
This year in the UK alone, Revolut was the first financial institution to launch an eSIM to help prevent high data roaming charges and added RevPoints, the first pan-European debit card loyalty programme rewarding customers on their everyday spending. Revolut also introduced Mobile Wallets to allow for faster international transfers and bolstered its security measures with Wealth Protection, an additional biometric security layer protecting customers’ savings.
