E-Toro announces commission-free trading for Singapore
This news just came in while I was at work. I’ve been on the look out for commission-free trading of US securities for sometime and hearing this news made me feel very excited.
I’ve heard of E-Toro through their advertisements on Youtube. Apparently they are a “Social Brokerage” where you can see what others are trading and follow their trades. I am pretty sceptical about this feature so expect me to do a deep dive into this.
My first impressions
Right after hearing the news, I signed up for their service and have to say it was really fast. I’ve downloaded their mobile app and played around a little. First off the bat, the platform really looked like a modern social media platform. Think Facebook.
I’m not really sure about its trading and research capabilities so that will have to take some time for me to explore.
The fees and structure also seems a little complicated, accounting for the number of products it offers.
I’ll take some time to go through the entire platform and do an in-depth review of it from the perspective of a Singaporean soon! Meanwhile, this is a really great development for the investing scene in Singapore. More brokerages are starting to see the value in commission-free trading and are offering lower fees for their services. I foresee that we are not far off from a Singapore version of Robinhood!
I’ve recently just wrote an in-depth review of FSMOne brokerage. If you’re interested, click here to read more about it!