Social trading and multi asset brokerage company eToro said on Tuesday it has started offering exchange traded funds (ETFs) for the first time via its recently-launched social trading platform, New eToro. It has also added two new indices – the JPN225 and ITA40, as part of the launch of 100 new instruments to the platform.
Investors can choose from nearly 30 EFTs, including SPDR, which tracks the S&P 500 trading, QQQ, which tracks the NASDAQ, IWM, tracking the Russell 2000 Index, and DIA, which tracking the Dow Jones Industrial Average. Their number is expected to grow in 2016.
In addition to this, the developer has also launched the trade with Italian and Spanish stocks from various industries, including utilities, consumer goods and basic materials, among others.
eToro intends to add even more new assets New eToro from next year, including many from emerging markets, the developer noted.
eToro said the new trading opportunities have already been accepted very positively by clients and have captured their excitement of the upcoming new assets.
New eToro was launched in the beginning of November 2015 as a replacement of the iconic eToro OpenBook and eToro WebTrader platforms. It is available across all types of devices and allows the trade with stocks, indices, commodities and currencies as contracts for difference (CFDs). Traders can use customizable watchlists, portfolio and risk management tools, real-time charts and live newsfeeds. eToro is used by more than 4.5 million registered traders in more than 170 countries worldwide and has more than 171 million open trades.
Social trading network allow investors to trade, follow other fellow traders and copy their trades, and get followed themselves. They are especially suitable for inexperienced traders. Other social trading platforms on the forex market are ZuluTrade, Tradeo, and Tradency among others.