10Mo·

Good evening everyone.

I've had a Revolut account for years, totally forgot I still had it.

You can also buy and sell shares, etfs etc. there. I'm mainly interested in American shares and etfs, which you can't trade in Germany. $SCHB (-0,21 %) that you can't trade in DE.

Does anyone use it for investing? I would also be happy to receive information and experiences about the distributions and how this is handled.

I don't think I'll achieve much with this post, but I'd still be happy if anyone can comment on it.

11 Commentaires

Jo'@Jo_Wolf

10Mo

It's my main broker and have no problem whatsoever with it.

You can't trade American ETF because most of them don't comply with the European union law that forces ETFs to distribute something called " Key Information Document " for European Union citizens, and as mentioned, most of the ETFs fund don't bother with EU administrative nightmare.

PS : some advice with revolut :
1. Always make sure to be able to prove them your funds provenance ( salary certificate etc. ) in case of random control
2. This random control virtually never happens for normal users , but it's regular on the people using Revolut for trading cryptocurrencies. That's their way or staying out of trouble with authorities and that's completely justified.

••

Oleg@ScorpionfromBW

10Mo

@Jo_Wolf so you say I can't buy $SCHD? But why is it showing up to me when I search for it? It is my main reason to use it. Therefore if I can't buy it, I see no reason to use it imo

••

Jo'@Jo_Wolf

10Mo

@ScorpionfromBW SCHD isn't in revolut ( I just checked it )

••

Oleg@ScorpionfromBW

10Mo

@Jo_Wolf you're right 🤦 it is $SCHW that is showing up. My fault.

Do you know another broker where I can buy $SCHD? As german citizen

••

Jo'@Jo_Wolf

10Mo

@ScorpionfromBW I have absolutely no idea :/

•

Oleg@ScorpionfromBW

10Mo

@Jo_Wolf ok thank you anyway

••

All-in-or-nothing@All-in-or-nothing

10Mo

@ScorpionfromBW The ETF should work at Interactive Brokers. But taxes will certainly be fun there😅. Just hearsay, but they are probably not really tax-simple. But worldwide trading venues, non-UCITS ETFs possible etc.. I don't use the broker myself.

•

BamBamInvest@BamBamInvest

10Mo

I currently only use it for my stays in Hungary. Transferring money, changing it into forints and paying with Apple Pay using the virtual credit card works great, I can only recommend it to anyone. The fees at the bank for payments abroad and the exchange rate are otherwise terrible in Austria and much cheaper with Revolut because you don't pay anything for the payments, only for the exchange. Up to 1000 euros per month at least free of charge.

••

Markus@_xempex_

10Mo

I only use Revolut for vacations and foreign currency transfers. I used to have Cryptos. Before you couldn't withdraw them, so I was never sure if they were "real" cryptos. :) But you can do that now.

About the broker. In addition to the questions posed by the poster, I would also like to know to what extent this is regulated for tax purposes. I assume that no withholding tax is deducted. How much discussion is required with the tax office?

••

Jo'@Jo_Wolf

10Mo

@_xempex_ For U.S based equities, Revolut applies the U.S withholding tax in accordance of the potential treaties of taxation between your residence country and the U.S.

Then it's your job to calculate and declare to your own country fiscal authorities and pay taxes.

•

Markus@_xempex_

10Mo

@Jo_Wolf alright, thank you! I thought so. I am already trading stocks and shares via Interactive Brokers, so dealing with the tax authority is known to me. :)

•