*61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
On Monday, leading multi-asset and social investment broker eToro announced that they were scrapping commissions associated with buying stocks.
Formerly, eToro charged fees for access to stocks. Now, this has been scrapped.
ETF trading fees at eToro
This ground-making announcement will mean that clients at eToro will now have a more affordable entry to the global financial markets and not only for the wealthy which has been the case in the past.
Stock trading fees at eToro
Better still, clients residing in the UK who previously had to pay a Financial Transaction Tax of 0.5% will no longer be charged as eToro will absorb these charges. The same goes for the 1% in Ireland, 0.1% in Italy and 0.3% in France.
Now, this service is only available for UK and European citizens who are eToro’s clients.
Important first-step
UK Managing Director at eToro, Iqbal Gandham said that by going commission-free, it will encourage people to invest in stocks and that this first step, although not enough, will get people excited in investing.
According to him, research has revealed that there is a big difference in the charges by providers for investors investing in stocks.
The UK has come under the scrutiny of fund fees over the past twelve months from the Financial Conduct Authority. In February, they issued a statement saying that there are many platforms with complicated fee structures which makes it difficult for clients to compare services.
The UK regulator said that they were considering a ban on exit fees that are charged by retail investment platforms
eToro: Now the most competitively priced
Founder and Managing Director of gbi2, Graham Bentley said that there is a huge variance in the costs for buying stocks in the market. Each platform has a different fee structure, making it a problem and time consuming for traders who have to spend hours researching to understand the fees.
In a research conducted by gbi2, they selected nine platforms in the UK, including eToro, to examine the cost of buying UK, US and German-listed stocks.
They examined the cost of buying stocks with 3 price points per company/stock: £1,000, £10,000 and £100,000.
The result was that there were diverse variances on the costs to buy and sell stocks, with some platforms charging more than double than other platforms.
He concluded saying that with eToro scrapping commission fees, it now makes them one of the most competitive prices brokers for buying and selling stocks within the UK.
What’s the real story?
If a broker charges commission or a dealing charge, it means that even before you begin trading, part of your profits is lost. It does not matter even if the stock you are trading is profitable.
At the end of the day, when you calculate actual gains and deduct the commissions involved, it becomes a big factor in people deciding to buy stocks or not.
How can you actually use this?
Right now as a trader at eToro, investors have direct and profitable access to stocks without having to pay excessive commissions, stamp duties and management fees.
What does this mean?
More profits go into your pocket!
Let’s face it, this makes it easy now to trade any stock from the leading global markets that is offered on eToro’s platform and with no limit on the trading volume and commission free.
Their revolutionary platform is easy to use, sign-up is free and requires a low first deposit of only $200. After that, you just need to choose your desired stock and click trade to make your first trade!
Bottom line?
Trading at eToro, you will discover a smarter way of investing with their patented CopyTrader which allows you to automatically copy other top traders.
Plus, you can interact, discuss trading strategies and more on eToro’s revolutionary platform.
Pick from the top stocks
eToro offers a variety of top stocks to trade like Alibaba, Netflix and Alphabet to name a few all without paying any commissions.
Best of all, you are able to ‘test drive’ their platform with their free and unlimited demo account that comes with $10K virtual money. This allows you to hone your trading skills using their advanced tools and graphs before investing your own money.
You will also discover that eToro offers many perks such as:
- A big variety of assets to choose from which includes, stocks, bonds, commodities, fiat currencies and cryptocurrencies
- Powerful advanced financial tools
- Daily market analysis, live news feeds, guaranteed stops and more
- Regulated and authorized broker
- Access to eToro’s education program with in-depth trading
- Zero commission charges (applies only on real stocks)
Seize the day and take the bull by the horns for the best user experience ever at eToro.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Crypto investments are risky and highly volatile. Tax may apply. Understand the risks here https://etoro.tw/3PI44nZ
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
