Revolut becomes latest app-based broker courting U.S. investors

Revolut Securities is launching a U.S. trading platform, becoming the latest app-based broker to court a generation of younger investors.

The app will allow trading of listed stocks and ETFs, according to a release Wednesday.

Revolut is entering an increasingly competitive industry, where mobile-forward brokers including Robinhood and Webull Financial vie for the loyalty of traders who piled into equities, options and crypto during the pandemic. The boom raised regulatory alarm bells at times, with SEC Chair Gary Gensler researching the ways mobile trading apps hook their customers, or “gamify” investing.

“We don’t want to promote irresponsible investing,” said Gabe Vallejo, Revolut’s U.S. head of wealth and trading. “We made sure to have nothing that would look or feel like gamification in our app.”

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Revolut started as a money-transfer and exchange business in the U.K. in 2015 and has since branched to other locations, including the U.S., Japan and Australia.