Israeli global social trading broker, eToro, expanded its offering of stock CFDs consisting of Italian shares in early February 2023.
World's leading social multi-asset broker, eToro, has announced expanding its stock CFD offering to include Italian shares. From now on, clients can benefit from a 0% commission on stock trading positions opened under the underlying asset. This means no additional fees, ticket fees, administration fees, and rollover fees. This change is effective from the date of implementation, so the position before the change will remain the same.
This latest addition comes after the Israeli broker allowed no-fee trading to US clients, intensifying competition between brokers to keep trading costs down. The launch focuses on equities that will diversify its offering to US users with exchange-traded funds (ETFs) and cryptocurrencies.
eToro Expansion and Management
eToro's US expansion comes after it acquired the app Gatsby for around $50 million to expand its US operations. Gatsby is a stock trading app with commission-free options for young traders.
Additionally, eToro has faced high hiring and attrition rates over the last few months. A month ago, Orel Assia was promoted to Head of Growth for eToro Money, and Meron Shani was appointed as the new CFO following the retirement of Shalom Berkovitz.
This Executive move came after eToro laid off around 6% of the company's labor of 100 employees, half of them in Israel.