eToro Launches New DIY ISA For UK Investors
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eToro has added a new way for UK investors to save and grow their money without paying extra tax. The company said it now offers do-it-yourself (DIY) Stocks and Shares ISA. With this new service, investors can decide where to put their money and take care of their investments. This ISA is another option alongside eToro’s managed ISA, where experts help with investing.
Dan Moczulski, who leads eToro UK, said ISAs help investors keep more of their money by avoiding extra tax.
He explained that users can invest up to £20,000 per year in ISAs without tax. He also said that now that the capital gains tax limit is £3,000, ISAs are even more helpful. eToro hopes more investors will use them to protect their savings.
The DIY ISA Lets Investors Pick From More Than 1,000 Options
The DIY ISA, supported by Moneyfarm, lets investors pick from more than 1,000 options. These include UK company shares, exchange-traded funds (ETFs), mutual funds, and bonds. Investors can choose investments that fit their plans. Some might want slow and steady growth, while others might take risks to try for higher rewards.
The new ISA helps users who like to be in control of their investments. They can pick stocks, spread their money across different funds, or add bonds for safety. Since this ISA is tax-free, investors can keep more of their earnings. eToro shared that this will give investors more power over their financial future.
For users who need a system to pick their investments for them, eToro still has a managed ISA. Experts handle the investments in this option. eToro explained that investors don’t have to choose just one type of ISA. They can use both if they want to balance their choices.
Moneyfarm Supports eToro’s ISAs With Funds Transfer Services
Moneyfarm, which supports eToro’s ISAs, helps with the successful transfer of funds between accounts. The company ensures transfers are easy and smooth. Both DIY and managed ISA users can also talk to Moneyfarm’s experts for advice. This simplifies investing for users who need extra help.
Moczulski said eToro is focused on meeting the needs of UK investors. He explained that while eToro operates worldwide, the company always works to support local investors. He said the new DIY ISA, along with the managed ISA, gives UK investors the freedom to choose the option that suits them best. eToro wants to help investors decide how to save in a way that fits their goals.
Fabio Zampaglione, Chief Commercial Officer at Moneyfarm, said the new eToro DIY ISA is part of their work with eToro. He noted that Moneyfarm is improving its investment choices to help investors save money without extra tax.
With the new update, eToro can give UK investors more choices in tax-free investing. The company said its ISA offerings now suit both users who want full control and those who prefer expert help.
