eToro has introduced new deposit options for its European
users while securing regulatory approval to expand its operations. Customers
can now deposit funds using credit cards or bank transfers in eight local
currencies.

eToro (Europe) Ltd has obtained approval from the
Cyprus Securities and Exchange Commission (CySEC) to
operate under the Markets in Crypto-Assets Regulation (MiCA). This
framework standardizes cryptocurrency trading rules across the EU. The platform
also complies with MiFID, which governs financial markets in the region.

eToro Supports New Currencies, Reduces Fees

The newly supported currencies include Swedish Krona (SEK),
Norwegian Krone (NOK), Danish Krone (DKK), Swiss Franc (CHF), Hungarian Forint
(HUF), Polish Zloty (PLN), Czech Koruna (CZK), and Romanian Leu (RON).
Additionally, eToro has lowered foreign exchange (FX) fees, starting at 1%, to
enhance flexibility and reduce transaction costs.

eToro Expands UK ISA Options and Files for IPO

eToro has expanded its offerings in the UK by introducing
a new DIY Individual Savings Account (ISA) option. This allows investors
greater flexibility in managing their tax-efficient investments. The DIY ISA
enables clients to select from over 1,000 assets, including UK stocks, ETFs,
mutual funds, and bonds, giving them the ability to build and manage their own
portfolios.

This new option adds to eToro’s existing managed ISA,
powered by Moneyfarm, which offers professional portfolio management. The
collaboration ensures smooth transfers and access to expert guidance, aiming to
provide UK investors with the choice between self-directed investing or
professional management.

In addition to this, eToro
Group has filed a draft Registration Statement on Form F-1 with the US
Securities and Exchange Commission (SEC) for its planned initial public
offering (IPO). While the number of shares and the price range have not yet
been disclosed, the offering will proceed once the SEC completes its review,
subject to market conditions. This follows eToro’s previous attempt at going
public through a $10.4 billion SPAC merger in 2021, which was later abandoned
due to market challenges.

This article was written by Tareq Sikder at www.financemagnates.com.

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