Social networking brokerage eToro has informed its members/clients that it has added a slew of new equities-based instruments for trading. The UK Financial Conduct Authority (FCA) regulated firm has expanded its offering, with 139 new stocks joining its already vast selection reaching over 450 stocks in total internationally.
As the American equities markets remain the most traded worldwide it is no surprise that the major portion of the new stocks eToro added are of U.S firms. These include popular names such as Philip Morris, PayPal, GoPro, Wells Fargo, General Motors and more. However, the brokerage has also put an emphasis on new Russian and Chinese offerings, complementing its strategy to strengthen its hold on those markets after securing $27 million in funding from Chinese Ping An Ventures and Russian SBT Venture Capital last year.
The fifteen new Russian stocks cover, among other industries ,the Russian banking sector with Sberbank and the Russian oil and gas sector with Tatneft and Gazprom. The ten Chinese stocks focus on tech giants such as online retailer JD and online travel agency Ctrip. All of the new stocks will be available for trade as contracts for difference (single stock CFDs), with instant execution, long and short directions, and up to ten-to-one leverage according to the broker.
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Last month, we reported that eToro has experienced a sharp rise in the trading of its bitcoin instrument amid a marked increase in BTC volatility. According to data shared with Finance Magnates, that week’s trade volume was 33x higher than the 4-week average prior to November 1- the date when prices began their sharp climb to $500.