eToro joins forces with Moneyfarm to provide its customers with ISA solutions.

Details

On March 10, 2023, eToro on its website claimed that it has joined forces with Moneyfarm, an online investment advisor and one of the largest digital wealth management companies in Europe. With this partnership, eToro will provide its customers with ISA solutions. Thus, both parties believed that cooperation can bring positive effects to both sides.

Dan Moczulski, UK Managing Director, eToro said: We may be a global platform but we are constantly looking for ways to evolve our local offering, and the addition of an ISA proposition is a perfect example of this dual approach. This will provide more than three million registered clients in the UK with a tax-efficient wrapper for investing, and given the significant upcoming changes to the Capital Gains Tax threshold, we felt it was more important than ever to provide this option for customers.

“eToro UK clients will now have the convenience of being able to open a Stocks and Shares ISA with Moneyfarm via our app while continuing to use the eToro app to invest in a range of assets from stocks and crypto to commodities and ETFs. We will continue to build our ISA offering over time and we look forward to seeing how our clients respond.”

Daniel Giddings, Head of Business Development UK, Moneyfarm said: Announcing this commercial agreement with eToro is further evidence of our ongoing commitment to grow our B2B2C business and leverage our API capabilities.

“This is a phased launch that will see us closely integrate the propositions over time. What is important initially is to be able to provide an ISA solution to eToro and its customers providing discretionary risk rated portfolios in a timely manner. We are focused on delivering for our clients and continuing to evolve our proposition and developing our B2B2C solutions is a key area of growth for Moneyfarm.”

About eToro

eToro was founded in 2007 as an online multi-asset investment platform that was easy for traders, with graphical representations of different financial instruments. In 2009, eToro launched an intuitive trading platform for novice and experienced traders. eToro added a variety of stocks to its commodities, forex, and other asset trading services in 2013 and continued to expand its portfolio of cryptocurrencies in addition to bitcoin in 2017. In 2008, eToro officially entered the U.S. market, offering cryptocurrency trading services to U.S. investors. Investors can trade 3,000+ financial assets in multiple categories through the eToro broker, including CFDs, cryptocurrencies, stocks, commodities, currencies, and ETFs.

Benefit: ISA solution

eToro clients will be able to access Moneyfarm's award-winning stocks and shares ISA, and their ISA balance will be displayed within their eToro portfolio.eToro's Club program will also count money held in the ISA.Clients with ISAs will bepermittedto qualify for certain benefits associated with reaching different tiers of the eToro Club.

About Moneyfarm

Moneyfarm (MFM Investment Ltd.) is an online investment advisor and one of the largest digital wealth management companies in Europe, regulated by the FCA (UK) and CONSOB (ITA).