eToro Brings Commission-Free Stocks Trading To Asia Pacificby Fintech News Singapore May 18, 2020
Multi-asset investment platform eToro has announced that it will extend its commission-free stocks offering to clients in Asia-Pacific, effective immediately.
The zero-commission offering for Asia Pacific clients applies to all stocks on its platform that are traded on the Nasdaq and NYSE exchanges. The company believes this makes eToro the first platform to offer commission-free stocks and fractional shares globally (available to users in over 100 countries).
Yoni Assia, Co-Founder and CEO of eToro, said:
“eToro was founded with the goal of opening up financial markets to all. We hope that by offering commission-free investing for the most frequently bought stocks on eToro more people will start investing. We are on a mission to get more people passionate about investing.”
The move to zero-commission on all stocks on eToro that are traded on the Nasdaq and NYSE exchanges removes one of the main barriers to entry for many investors – costs. By offering fractional shares the eToro platform allows investors to buy as little as 0.001 of a share, enabling users to diversify their portfolio with stocks that they otherwise might not be able to afford. People can open a position in the most popular stocks without commission from as little as $50.
Stocks traded on the Nasdaq and NYSE exchanges are the most popular stocks on the eToro platform. They currently represent 82% of all stocks traded on eToro globally.
Asia Pacific is one of eToro’s fast-growing markets. In the first four months of this year, the platform has seen over a 400% increase in users from APAC, investing for the first time compared to the same period last year.
Commenting on the move, Jasper Lee, Managing Director of Asia, eToro, said:
“A commission-free stocks offering is the next step in eToro’s expansion in Asia Pacific. We’re committed to growing our footprint here and are therefore continually enhancing our proposition to deliver value to our users. By reducing the cost of entry, we also want to encourage more people to start investing.”
eToro introduced commission-free stocks in Europe and the UK in May 2019. Investment in stocks has tripled on the platform globally in the first quarter of this year, compared with the last quarter of 2019. In addition to zero-commission stocks, eToro does not charge ongoing administration or quarterly charges. The zero-commission fee structure does not apply to short or leveraged trades. Other fees may apply. More info on eToro fees available here.
Over the past 13 years eToro has grown considerably and now has over 13 million registered users from more than 100 countries. The platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. Users can also choose how they invest: they can execute a trade themselves, copy another user, or invest in a portfolio.