According to the Authority, on its website, www.etoro.com/it, the company implies that shares can be traded without having to pay any commission. In reality, there are various other costs and operational constraints on consumers

The Italian Competition Authority has closed an investigation against eToro Europe Ltd, imposing a fine of 1.3 million euro for issuing misleading information on the characteristics and financial conditions of investment services in shares. 

According to the Authority, eToro violated Articles 20, 21, and 22 of the Italian Consumer Code because it did not immediately and adequately inform users about the financial conditions and technical characteristics of the products and services offered, thus inducing them to make a commercial decision they would not otherwise have made.

The company, through messaging on its website, www.etoro.com/it, implies that consumers can trade in shares with zero commission and does not highlight the existence of various other costs, the risk of further disbursements following changes in exchange rates, the existence of operational constraints and limitations on the rights of the customer purchasing these shares and, in particular, the impossibility of transferring the shares to other intermediaries.

Rome, 17 July 2023