Etoro has announced that it has reached an agreement to acquire the options trading platform Gatsby.

Gatsby is a commission-free options and stock trading app focused on a younger demographic.

The acquisition marks a key step in the ongoing diversification of eToro’s offering to US users, which is currently focused on crypto and stocks trading, the company said.

Gatsby’s integration will support eToro’s goal of providing multi-asset investment tools to US users as it continues to grow its social investing network through education, innovation and enabling simple access to the assets and tools people want.

Yoni Assia, chief executive and co-founder of eToro, commented: “We’ve seen a seismic shift in the balance of power away from traditional finance institutions towards the retail investor.

"The internet has democratised financial information and a sea change has taken place, empowering more everyday investors – particularly Gen Z and Millennials – to trade and invest.”

He added: “These retail investors are looking for opportunities to generate returns in today’s bear market.”

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