You are not logged in.

#1 27-03-2019 09:09:34

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 3176

eToro launches commission-free share trading

eToro launches commission-free share trading
eToro, the Cyprus-based multi-asset social trading platform, just announced the impending launch of commission-free trading for British clients who want to trade shares on its platform.

Other brokers who have announced similar news have in fact increased spreads. This cancels any benefit because instead of paying a commission, they are paying higher spreads.

However, in eToro's announcement, the brokerage adds that it won't add any fees to the gross share spreads.

Iqbal V. Gandham, head of eToro in the UK, said: "We are on a mission to get the UK to trade, the first step is to make the market much more easy to approach. If this is the first time I buy shares, how can you justify 3% of commission charges? Either the new investor flees right away, or reality hits him later when he discovers the actual costs. This is an obstacle to trading. We make things easier: no transaction commissions, no margins on spreads, no account management fees, no stamp duties."

With this latest news, the social trading leader joins a small group of brokerages who offer commission-free share trading. Currently, this group consists of JFD Brokers, which launched the same service last month, or  Trading 212, a UK-based broker which launched BUX, a trading app.

Commission-free trading is a recent innovation in the forex arena, which is partly explained by the recent ESMA rules that order brokerages to modify their service offers.

With this development, it appears that eToro, like both JFD Brokers and Trading 212, is betting that the trading of tangible shares will play a bigger role in the industry. However, eToro hasn't mentioned the exact date this new service will launch on its social trading platform.

"Anything worth having is worth going for - all the way." - J.R. Ewing



Board footer