KUALA LUMPUR (May 18): Multi-asset investment platform eToro is extending its commission-free stocks offering to clients in Asia-Pacific (APAC), effective immediately.

In a statement, eToro said the zero-commission offering for APAC clients applies to all stocks on its platform that are traded on the Nasdaq and NYSE exchanges.

The company said it believes this makes eToro the first platform to offer commission-free stocks and fractional shares globally (available to users in over 100 countries).

eToro co-founder and CEO Yoni Assia said the company was started 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,” he said.

Assia said the move to implement 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 US$50,” he said.

Assia said stocks traded on the Nasdaq and NYSE exchanges are the most popular stocks on the eToro platform, representing 82% of all stocks traded on eToro globally.

He highlighted that Asia Pacific is one of eToro’s fast-growing markets.

“In the first four months of this year, the platform has seen over 400% increase in users from APAC, investing for the first time compared to the same period last year,” he said.

Meanwhile, eToro Asia managing director Jasper Lee said a commission-free stocks offering is the next step in eToro’s expansion in Asia Pacific.

“We are 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,” he said.

eToro had introduced commission-free stocks in Europe and the UK in May 2019.

It said 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 company said the zero-commission fee structure does not apply to short or leveraged trades, adding that other fees may apply.

eToro said over the past 13 years it 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.

eToro said users can also choose how they invest: they can execute a trade themselves, copy another user, or invest in a portfolio.