The social investing eToro Stocks and Shares ISA has launched a stocks and shares Individual Savings Account (ISA) in the UK, in partnership with Moneyfarm. Moneyfarm will manage the service, while eToro provides the technology platform and customer relationships. The ISA will be displayed alongside your eToro portfolio and any money held within it will count towards the rewards you earn as part of eToro’s club programme.
The ISA will be open to customers of both eToro and Moneyfarm. Investors will be automatically matched with a Moneyfarm investment portfolio based on their risk rating, while investors can also choose to have a custom-made portfolio managed by a Moneyfarm expert. eToro will offer free and commission-free trading for stocks, exchange-traded funds (ETFs) and cryptocurrencies. It will also offer a range of chart and technical analysis tools for those who prefer to trade on fundamentals.
How to Invest in the Stock Market in the UK: A Beginner’s Guide
eToro is regulated by the Financial Conduct Authority, meaning that it’s subject to strict rules relating to customer safety. It offers a free virtual account, which allows you to practice trading and get used to the platform before depositing any real money.
eToro is best known for its ‘CopyTrader’ feature, which lets you replicate the trades of other users on the platform. This can be a good way to learn how to trade, but past performance figures are not guaranteed and it’s important to research each trader thoroughly. You should also be aware that fees such as currency conversion, withdrawing cash and inactivity can erode returns over time.
