Dutch Neobank Bunq Launches Stock Trading Feature for Digital Nomads

Dutch neobank bunq launches stock trading 'tailored to digital nomads'

Users can invest in popular US and EU public companies as well as ETFs Bunq has become the latest fintech to enter the crowded European stock trading market. The Amsterdam-based neobank yesterday announced its new Stocks product, which it claims is "tailored to digital nomads." The Dutch bank already provides in-app portfolio investing options in environmentally-friendly companies. Stocks significantly expands the offerings. Users can now invest in popular US and EU public companies as well as multi-asset ETFs. Stocks on offer include Apple, Tesla, and Nvidia. For the first three months, there is no trading commission. This will then rise to €0.99 per trade. Users can buy and sell stocks in fractional shares, starting from €10. Bunq said its new product aims to simplify investment for beginners, providing a curated list of stocks and allowing for an easy setup of investment accounts. Stocks, currently in beta, is initially available in the Netherlands and France, with more European countries following in the future. For the product's rollout, bunq has joined forces with two German-based fintech startups: Upvest, which specialises in investment APIs, and Ginmon, which offers investment brokerage and wealth management services. Alongside Stocks, bunq also launched an eSIM for frequent travellers and several updates to its AI assistant, Finn. The launches follow a period of growth momentum for the Dutch unicorn, having achieved its first year of profitability in 2023. It now has 14.5 million users across Europe, making it the largest neobank in the region. The company has also applied for banking licences in the UK and the US. With Stocks, however, bunq is entering a crowded market and will have to compete with heavyweights such as California-based Robinhood and European rival Revolut -- the continent's leading neobank and most valuable fintech. Revolut has been offering stock trading already since 2019. It is now piloting a standalone investment app for experienced investors.

Bunq debuts stock trading

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Unlike traditional brokerages, bunq Stocks simplifies investment for beginners. It gives them access to a curated list of the most popular US and EU public companies and straightforward, global multi-asset ETFs through bunq's partner Ginmon. With bunq, users will be able to open an investment account within seconds, and buy and sell stocks in fractional shares as low as €10. In the first three months, all trades are free. Ali Niknam, founder and CEO of bunq: "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." The rise of digital nomads has challenged traditional notions of work and investment. According to bunq research, 47% of European digital nomads are already actively investing, while 41% are considering starting in the next 12 months. With over half of them investing for the long term (more than 5 years) and 57% preferring to invest on the go, monthly on average, digital nomads require a product tailored to their unique needs. Initially available in the Netherlands and France, Stocks will be gradually launched throughout the rest of Europe. Upvest provides the investment infrastructure for fractional trading and custodial services, ensuring efficient and secure transactions for end users. In addition to Stocks, which is rolling out as beta, bunq also announced several other updates at its bunq Update 26 event in Amsterdam. The neobank's AI money assistant, Finn, now can give ultra-personalized budgeting tips as well as recommend bars and restaurants in the area. Alongside this, bunq has introduced an eSIM for frequent travelers. Activated from the bunq app, the eSIM will give digital nomads uninterrupted internet access in 160+ countries, helping them save up to 90% on roaming costs.