eToro introduced a new feature that enables users to trade in their local currencies, GBP and EUR, eliminating the need for conversion fees. This change promises to help investors save on fees and have better control over their currency exposure.

Currency Management

Previously, the comapany’s users had to convert their local
currency into USD to trade in UK and European stocks, a process that often
resulted in additional conversion costs. With this new feature, users can now trade directly in
GBP or EUR, allowing them to avoid conversion fees when investing in
locally-listed stocks.

Speaking about the new offering, Doron Rosenblum, the
Executive Vice President for Business Solutions at eToro, said: “Introducing
the possibility to invest directly in GBP and EUR marks a significant addition
to our product offering. This isn’t just about adding another feature, it’s
about fundamentally enhancing the way our users tailor their investment
strategy by improving their domestic and international trading experience.”

This update is part of eToro’s ongoing strategy to
localize its services in its key markets while maintaining its global reach.
The introduction of GBP and EUR trading complements the platform’s global
offering by giving UK and European users a more customized experience.

Investors can now deposit, hold, withdraw, and fund
trades in their local currencies without first converting to USD,
marking a significant improvement in the way users manage their portfolios.

eToro Expands Offerings

In recent months, eToro has expanded its offerings in
the UK and Europe by adding a wide range of local assets. Earlier this month,
the platform partnered with Deutsche Boerse to introduce 290 German-listed
stocks. This followed a previous collaboration with the London Stock Exchange,
which added over 1,000 UK stocks.

The company is also expanding its reach globally,
recently partnering with Dubai Financial Market to offer access to leading
companies listed there.

Expect ongoing updates as this story evolves.

This article was written by Jared Kirui at www.financemagnates.com.

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