eToro expands to Paris to tackle the French savings and retirement market
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Israeli fintech giant eToro recently established a new subsidiary in France, following in the footsteps of a competitor, XTB. XRB recently expanded into the country, seeking to access its long-term investment market. The two firms’ move confirms the industry-wide shift toward capturing passive investors beyond traditional trading services.
eToro’s announcement said that the company opened a physical office in France, which coincided with the establishment of a local branch, eToro Patrimoine (eToro Wealth). The office is located in Paris, on Boulevard Malesherbes.
It will act as a separate entity, featuring its own website. Its goal is to provide access to retirement savings plans to French retail investors. Alongside that, it will offer life insurance contracts created together with Generali.
Julien Nebenzahl, the new president of eToro Patrimoine, said: “Introducing saving solutions for eToro’s users in France and opening a local subsidiary underscores our commitment to strengthen our footprint in a key market for the business.”
The new offerings will also allow users to choose between managed portfolios with varying risk profiles, or self-directed options that allow investors to build their own allocations from more than 500 available investment vehicles. That includes mutual funds, euro funds, ETFs, stocks, as well as dated bond funds.
Generali Patrimoine’s partnerships director, Corentin Favennec, stated: “We are delighted to support eToro, a globally recognized investment player, in the launch of its subsidiary in France and its savings offering.”
eToro’s New Strategy Mirrors XTB’s Moves
The move represents eToro’s next step in pushing into more passive, long-term investment products across Europe. Previously, the company teamed up with Moneyfarm in March 2023 to offer tax-efficient Individual Savings Accounts (ISA) to UK clients. Back then, it also focused on the same segment of retail investors, seeking long-term wealth-building options.
This is also a strategy that XTB employed recently when it launched French PEA (Plan d’Epargne on Actions) accounts in April of this year. It offers similar tax-advantaged accounts as those in the UK and Poland.
While eToro offers a different product than XTB, they are still similar to one another, and so are the two firms’ strategies.
