eToro cuts commissions on deposits in RUB

Social investment expert eToro keeps pushing into the Russian Forex market.

The company has just announced that it is improving the conditions for Russian ruble (RUB) deposits. The commission for converting RUB into USD when making deposits is reduced five times from 250 pips to 50 pips.

In February this year, eToro sealed a partnership with Sberbank over launching a joint venture in Russia. Sberbank has earlier provided funding to the social investment expert.

eToro rolled out a Russian version of its platform in 2015 and has since then gradually enhanced the offering for its Russian clientele. In December 2015, the company added CFDs on shares in 15 Russian companies, such as Gazprom and Sberbank, to the menu of trading instruments.

For the full announcement from eToro, click here.

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