Neverless is a mobile platform for crypto trading, a separate Strategies account, and published rates on some cash and crypto balances.
As of 15 October 2026, the EEA client agreement limits the service to eligible residents of the European Economic Area, excluding Latvia. The United Kingdom site says the product is not launched there yet and shows a waitlist. The homepage says the company was founded by former Revolut executives.
How does Neverless handle a crypto order?
The EEA client agreement, last updated 9 October 2026, handles crypto orders with quotes in the app. Supported types are market, limit, stop, and scheduled. A market order uses the quoted price for a set quantity. A limit or stop order waits until that quote matches the price the customer set. A scheduled order uses the quote at a later time, including a daily, weekly, or monthly cadence.
That agreement names Neverless Labs, S.L. as the default provider of crypto trading, crypto margin, and crypto transfers. Neverless SIA provides the service instead only if it emails the customer to say so. A separate international client agreement allows broker execution through a liquidity provider or market-maker outside a trading platform. Opening that account consents to the method.
A quote stays valid only until the app replaces it. The international agreement says displayed quotes are indicative and the filled price can differ. The trade page, as of 15 October 2026, says the catalog is 800 cryptos and counting.
What the customer pays is the quote that fills, plus any charge on the pricing page.
What is the Strategies account and how does it generate yield?
Strategies is a separate account for rewards on eligible crypto. On 15 October 2026 the Strategies page showed 6.73% AER. The page defines that figure as the variable annualised return over the prior 90 days, paid daily.
The same page says the method looks for a price gap on one asset across venues, or quotes a buy price and a sell price at the same time. It calls that approach market-neutral. The EEA passive-rewards schedule authorises the provider to place, lend, pledge, or rehypothecate that crypto with third-party platforms and protocols, and to commingle it with other customers’ crypto.
For EEA customers that schedule is provided by 3-102-950439 Sociedad de Responsabilidad Limitada, the Costa Rica company named in the agreement. The schedule says the rate is variable and may be reduced to zero. Credit is aimed at daily compounding and starts the day after the transfer in. Assets withdrawn the same day do not earn that day’s reward. A withdrawal is described as prompt, and large amounts may take up to 7 days or longer. The schedule allows an early-withdrawal fee if the pricing page lists one. The pricing page checked on 15 October 2026 has no separate Strategies fee line.
Other balances use different published rates on the same date. The homepage showed 2.08% AER on BTC, 2.1% AER on EUR, and 2.78% AER on a USD token, with daily credit and no stated minimum or maximum. The trade page showed 2.08% annual interest on BTC and 3.08% on ETH, paid daily, with no lock-up. The EEA yield-sharing programme is a further rate on uninvested client funds held at credit institutions or qualifying money market funds. It credits at the end of the calendar day once the amount reaches at least 1 cent.
A Strategies balance and a spot balance follow different pages and different schedules, and both rates can change.
What governs the fee and revenue model?
The Neverless pricing page, as of 15 October 2026, is the schedule incorporated into the client agreement. The EEA pricing page showed the same figures on that date.
| Charge | Amount |
|---|---|
| Account fees, custody fees, FX fee line | 0 |
| Most cryptos, stocks, metals, ETFs, money market funds | 0 commission |
| Illiquid cryptos | 2.49% illiquidity fee, $1 minimum |
| Apple Pay or Google Pay deposit, EUR or USD | 0 on the first 3 deposits up to $1,000 total, then 2.49% |
| Bank transfer in or out, EUR or GBP | 0 |
| USD bank deposit via SWIFT | $30 |
| Blockchain deposit in listed assets | 0 |
| Blockchain withdrawal in USDC, USDT, BTC, or ETH | Network gas |
| FINRA pass-through | $0.000195 per share, $0.01 minimum |
| SEC pass-through | 0.00206%, $0.01 minimum |
| ADR pass-through | $0.01 to $0.10 per ADR |
| US dividend withholding | 30% |
Listed blockchain deposits at 0 include USDC, USDT, BTC, ETH, BNB, SOL, HYPE, DOGE, ADA, LINK, AVAX, and AAVE. Currency conversion uses Neverless’s own rate, built from the prevailing rate, the amount, and Neverless’s costs. The pricing page still lists the FX fee line at 0.
Margin interest accrues hourly on the outstanding balance at a variable rate shown in the app. The EEA crypto-margin schedule calculates accrued interest as that rate times the balance, and posts the debit hourly. The international margin schedule states the same hourly posting and divides that product by 365. The rate can change with no advance notice. The homepage states leverage up to 5x against portfolio assets. The schedule allows only cross margin. If equity falls below the maintenance level, liquidation orders can include a 5% liquidation fee. For a long crypto position the asset lent is a stablecoin, and any euro figure is a valuation.
The rewards schedule says Neverless may be paid by the third-party platforms that hold Strategies assets, and the customer has no claim to that payment. The agreement also allows Neverless to pass on fees from exchanges, brokers, market-makers, and crypto networks.
For the broader pattern, see How Do Commission-Free Brokers Make Money?.
A zero commission line on most cryptos still leaves the illiquidity fee, the card-deposit fee after the allowance, gas, and the quote.
What assets and regions does Neverless support?
The EEA client agreement updated 9 October 2026 limits services to eligible European Economic Area residents, excluding Latvia. The customer must be at least 18. Service starts after identity verification. The United Kingdom English site says Neverless is not yet launched in the UK.
The international client agreement lists the United States, Costa Rica, and the EEA as prohibited jurisdictions for that contract. The contract that applies follows the site version the customer is on.
The trade page lists about 800 cryptos, including BTC, ETH, and major stablecoins. The pricing page also shows 0 commission on stocks, metals, ETFs, and money market funds, with the US pass-through charges in the fee table. Funding options on the pricing page are Apple Pay, Google Pay, bank transfer, and blockchain transfer. Under the EEA agreement, money sent in is client money in a pooled client money account. Under the international agreement, fiat deposits are converted and held as an electronic money token referencing a currency such as EUR or USD.
Availability is a contract question first, and the asset list is what that contract then allows.
What is the regulatory status and how are assets protected?
The EEA client agreement splits the product across several companies. Boku Securities SIA is authorised by Latvijas Banka as a financial brokerage firm, authorisation code 196, for financial-instrument trading and margin. Neverless SIA is authorised by Latvijas Banka as a crypto-asset service provider under licence 27-55/2026/8. Neverless Labs, S.L., of Madrid, is registered with the Bank of Spain under D948 for crypto-asset custody and exchange. It is the default EEA crypto-trading provider unless Neverless SIA emails otherwise. Boku Labs Ltd, of London, provides commodities trading and commodities margin under that agreement. The site footer also names these roles and points customers to care@neverless.com to learn which entity serves them.
Boku holds financial instruments in omnibus wallets pooled with other clients and kept apart from corporate wallets. Client money is segregated from Neverless’s own funds. It may sit at a qualifying money market fund, a central bank, an EU credit institution, or a permitted non-EU bank. The agreement says that money is not a deposit. Neverless publishes a Boku note titled General information on the Investor Protection System. It says compensation applies if Boku cannot meet investment-service obligations, with a cap of EUR 20,000 across the customer’s accounts. Price moves, liquidity losses, and amounts already covered by Latvia’s Deposit Guarantee Law fall outside that payout.
Strategies and passive-reward balances follow the rewards schedule. That schedule says those accounts are not bank accounts and are not covered by insurance against losses. It also says a third party that fails to return assets can leave the crypto unrecoverable.
Crypto enters through a Neverless receiving address and is credited after the confirmations Neverless requires. The international client agreement says Neverless is custodian of account crypto, may commingle it, and leaves title with the customer. Outbound transfers are send instructions to an external address, net of network fees.
For the general custody pattern, see Counterparty Risk in Custodial Stablecoin Wallets.
The company that holds the balance sets the protection, and the rewards schedule does not treat Strategies crypto as an insured deposit.
What are the tradeoffs, risks, and limitations of Neverless?
A 0 commission line on most cryptos leaves the 2.49% illiquidity fee, card-deposit charges after the allowance, the $30 USD SWIFT deposit, gas, and any move from the quoted price to the fill.
Strategies assets can be lent and rehypothecated, and commingled at third parties the customer does not choose. The 6.73% AER on the Strategies page is a trailing 90-day figure. The schedule says the rate can fall to zero and that past rates do not set the next rate. Large withdrawals can take up to 7 days, and Neverless can delay a withdrawal for compliance, liquidity, or operations.
Margin uses one mode, cross margin. Interest posts hourly at the in-app rate. A shortfall can trigger liquidation with a 5% liquidation fee. Collateral posted for margin can be sold, loaned, or rehypothecated when Neverless enforces that pledge.
Geography is split. The EEA contract covers eligible EEA residents outside Latvia. The UK site is a waitlist. The international contract blocks the United States, Costa Rica, and the EEA. Multi-factor authentication is on by default for sensitive actions and cannot be turned off, according to the Neverless principles page.
