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eToro Launches Commission-free Stocks and ETFs

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News provided by

eToro

06 May, 2019, 06:55 GMT

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Investors can save up to 50% on stocks with eToro compared with other popular UK platforms

LONDON, May 6, 2019 /PRNewswire/ -- eToro, the multi-asset investment platform, is today scrapping commission fees for customers buying or selling stocks and ETFs on its platform. eToro users investing in stocks or ETFs will be charged zero commission, zero Stamp Duty, and zero management fees.

Iqbal V. Gandham, UK Managing Director at eToro said: "We want to get more people investing. Research shows that there is a huge difference in the costs charged by providers for investing in stocks. We've seen greater scrutiny of fund fees but not yet the same awareness of the excessive fees some providers are charging for stocks."

Research by gbi2 examined the cost of buying UK, US and German-listed stocks on nine UK platforms including eToro. The research looked at the cost of buying stocks at three price points per company/stock: £1,000, £10,000 and £100,000. The research highlights significant disparities in the cost to buy and sell stocks with some platforms charging investors as much as double other platforms.

Fees for a round-trip buying and selling stocks

The numbers below reflect total investment fees for all platforms.


Hargreaves Lansdown

Total investment:fee charged

IG

Total investment:fee charged

Halifax

Total investment:fee charged

eToro

Total investment:fee charged

Buying 3 UK-listed stocks

£3k: £87.49

£30k: £231.35

£300k: £1669.94

£3k: £63.86

£30k: £207.72

£300k: £1646.30

£3k: £90.78

£30k: £234.64

£300k: £1673.23

£3k: £42.93

£30k: £181.74

£300k: £1246.69

Buying 2 US-listed stocks

£2k: £88.95

£20k: £414.85

£200k: £1600.53

£2k: £62.23

£20k: £192.62

£200k: £1561.62

£2k: £101.21

£20k: £567.94

£200k: £5235.21

£2k: £36.83

£20k: £139.83

£200k: £1018.31

Buying 1 German-listed stock

£1k: £43.47

£10k: £197.17

£100k: £696.55

£1k: £29.58

£10k: £89.19

£100k: £861.63

£1k: £50.00

£10k: £277.89

£100k: £2556.70

£1k: £27.33

£10k: £63.71

£100k: £446.94

Total portfolio cost

£6k: £219.91

£60k: £843.37

£600k: £3967.02

£6k: £155.67

£60k: £489.53

£600k: £4069.55

£6k: £242.00

£60k: £1080.47

£600k: £9465.14

£6k: £107.09

£60k: £385.28

£600k: £2711.93

The full research across all nine providers can be found here.

Graham Bentley, Founder of gbi2 said: "There is so much variance in costs across the market for buying stocks. No one platform has the same fee structure and often you have to spend hours of research to understand fees. It's a problem."

Scrapping commission fees makes eToro one of the cheapest places to buy and sell stocks in the UK. Investors can save up to 50% on fees with eToro compared with other popular UK platforms. eToro also absorbs the cost of Stamp Duty Reserve Tax on trading British stocks and, unlike some platforms, does not charge a quarterly management or administration fee.

For no fee, investors with eToro can also follow Popular Investors, who openly share their investment strategies and stock picks for others to learn from or copy.

Iqbal V. Gandham continued: "We want to encourage more people to invest in stocks. Going commission free is an important first-step, but it's not enough. We need to get people excited about investing. In 1986, the Tell Sid campaign created a generation of new investors. It  showed that investing is not just for the wealthy. We need to bring back Sid.

"We need to show people that their passion and expertise can count for something. They know when a product or service is proving popular and performing well; and they know when a company is delivering because they experience it on the ground. This is knowledge that can inform good investment decisions. It's time to put this knowledge to work. It's time to get Britain investing."

Zero commission on stocks and ETFs is only available to UK and European clients of eToro UK Ltd. and eToro Europe Ltd. and does not apply to short or leveraged trades. Zero commission means that no broker fee has been charged when opening or closing the position. Other fees may apply. For additional information regarding fees, click here. Your capital is at risk.

About the research

Independent research firm gbi2 carried out a study of stocks and shares platforms catering to UK investors in February and March 2019. A total of 9 share trading platforms were looked at including eToro, Hargreaves Lansdown, IG, Interactive Investor, the Share Centre, Halifax, Saxo, Barclays and AJ Bell.

Each platform's costs were tested based on buying three UK-listed shares (Lloyds, BP, Tesco), two US-listed shares (Amazon, Pfizer), and one German-listed share (Volkswagen). Equal amounts of these shares were bought at three price points: £1,000, £10,000 and £100,000, meaning a total theoretical spend of £6,000, £60,000 and £600,000.

All fees were researched and added to the calculation, including any fees on deposits, withdrawals, custody fees, fees on market spreads and stamp duty.

About eToro

eToro was founded in 2007 with the vision of opening up the global markets so that everyone can invest in a simple and transparent way. The eToro platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. We are a global community of more than ten million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want. www.etoro.com  

Disclaimer

eToro is regulated in Europe by the Cyprus Securities and Exchange Commission and regulated by the Financial Conduct Authority in the UK.

Media contacts :
Paul Crayston
+00-44-3435-7463
pcrayston@headlandconsultancy.com

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