RoboMarkets is the latest brokerage firm to enter the zero-commission zone, which was previously dominated by Robinhood and Fidelity. The announcement of this launch comes just a few weeks after the launch of 500 contracts for differences (CFDs)
RoboMarkets has announced the launch of a zero-commission offer, owing to which the company’s clients will be able to trade shares, particularly those of American companies without having to pay any fees.
The European Broker further announced that the new offering shall be available on its R Trader platform, which is a multi-asset trading platform made available by the end of the previous year.
To be precise, the company has launched around 3,000 stocks of some of the largest American Corporations, including Google, Netflix, Facebook and Amazon to name a few.
Previously, the zero-commission wagon was being dominated by an online trading app called Robinhood. However, many brokers including TD Ameritrade, Charles Schwab, Interactive Brokers, and E*TRADE have jumped onto the same boat as they are offering free platforms to the existing and potential client, and perhaps trying to enlarge their users by reaching a wider audience, including millennials.
With several brokerage firms entering the zero-commission zone, the likes of Robinhood and Fidelity are now trying new ways to differentiate themselves from others, such as offering their clients to trade in exchange traded funds (ETFs) as well as fractional shares.
It is pertinent to mention that there is no limitation on the maximum number of orders that can be placed on commission-free trading. Other conditions entail 1:1 leverage and no financing fees, the European broker firm informed market participants via an official statement on Friday.
Interestingly, the announcement pertaining to the launch of zero-commission trading comes almost a few weeks after the company announced the launch of more than 500 CFDs on European stocks to its R Trader platform.
With the launch of new CFDs, the clients will have access to the stocks of around 11 European Countries whose shares were not previously available on the company’s trading platform. These countries include Sweden, France, Finland, Portugal, Norway, the Netherlands, Italy, and Spain.
Besides the addition of stocks of new as well as previously available countries, the European broker also launched tick charts this month, which is a new addition to the trading platform of the firm.