Revolut at risk to lose banking license

[Bmw850]

It may interest revolut users here.

https://www.siliconrepublic.com/companies/revolut-kremlin-lithuania-banking-license

 

[Martin Everson]

Well you know my opinion on this . Sons of Russian Oligarch's with connections to Putin should be looked at carefully when applying for an EU banking license.

As I stated in my other post how is it possible for Lithuania to grant a banking license after due diligence and then look into revoking it before bank is even ready to go live. Who got paid what? How much and when?

Revolut also want to roll out free stock trading? Thats the oldest Russian scam in the book. Revolut will simply front run client trades by selling orders to make back the money they lose from offering free trading.....lol. Isn't that what Robinhood does to offer free trading? Nothing is free....lol.

https://seekingalpha.com/article/42...g-millennial-customers-high-frequency-traders
I swear the system of checks and balances in this world is broken. Good luck to the cult members that put faith in Revolut the Russian EMI as it won't end well.

 

[JohnSpain]

I totally have to agree Martin, nothing is free in this world. I havent looked too much at Robinhood but there is no doubt you are right. Someone always cover the cost, and it is for sure not the owners of the business.

I have seen recently an increase in forex trading scams again, some of these are for free as well (in the past they asked for some kind of subscription). The 'professional' manager will trade your funds for free with a shitty broker, what people dont know is that most retails clients are on a B book, no real trading ever take place - shitty brokers will then spilt the money they steel from their clients with the so called professional asset managers. Their goal is never to make money from trading... Sadly most of these scams go mainly after poor people in Eastern Europe and Asia, with a promise of thousands of percent return and no risk.

 

[Martin Everson]

Well the mask has slid off from Revolut. The Russian company based in London is planning for a banking license in Russia . They can kiss their business goodbye in todays anti-Russian climate. They've not even sorted out their Lithuanian license problems yet before announcing this. This could get very interesting.

https://www.crowdfundinsider.com/20...sia-meanwhile-launch-in-lithuania-is-delayed/