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Revolut becomes latest app-based broker to attract US investors

(Bloomberg) — Revolut Securities Inc. is launching an American trading platform, the latest app-based broker to court a generation of young investors.

According to a release on Wednesday, the app will allow trading in listed shares and exchange-traded funds.

Revolut is entering an increasingly competitive industry, where Robinhood Markets Inc. And mobile-forward brokers, including Webble Financial, are in for the loyalty of traders who piled into equities, options and crypto during the pandemic. Boom has raised regulatory alarm bells several times, with Securities and Exchange Commission chairman Gary Gensler researching how mobile trading apps attract, or “gamify” investments to their clients.

“We do not want to encourage irresponsible investment,” said Gabe Vallejo, Revolt’s US head of wealth and trading. “We made sure there was nothing in our app that looked or felt like gamification.”

Read more: Robinhood dares regulators with embrace of games, awards

Revolut started as a money-transfer and exchange business in the UK in 2015, and has since expanded to other locations including the US, Japan and Australia.

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