Bunq, the Amsterdam-based challenger bank, is moving into stock trading, targeting digital nomads across Europe. Called Stocks, the retail investment product will initially launch in the Netherlands and France, and then be rolled out across Europe.
Should Bunq get approval for its EMI licence in the UK, where the challenger bank is relaunching in, it will also launch Stocks in the UK. Stocks will offer Bunq customers access to a curated list of popular US and EU stocks and EFTs. Stocks on offer include Meta, Microsoft, HP and Visa.
Bunq, which has 14.5m users across Europe, says all trades will be free to use for Bunq customers for the first three months, after that it will cost 0.99 per cent per trade. Bunq says Stocks simplifies investment for beginners and that users will be able to open an investment account within seconds.
The Dutch challenger bank already offers users the chance to invest in environmentally friendly companies through portfolio investing within its app. Digital nomads, Bunq says, are tech-savvy people who live and work in multiple countries and travel freely.
Bunq is entering an increasingly congested market, competing against the likes of Robinhood, eToro, Trade Republic, Scalable Capital as well as legacy players.
Earlier today, Revolut launched a standalone investment app in Europe.
Bunq has recently launched an AI-powered chatbot and also moved into travel insurance.
Ali Niknam, founder and CEO of Bunq, said:
“Investing in stocks should be as effortless as making a payment or checking your balance. That's why we've designed the simplest way to start investing, allowing our users to buy shares of the world's most exciting companies in seconds.”
Would you like to write the first comment?
Login to post comments