eToro has announced the optimisation of its local offering for users in Denmark by allowing them to deposit and trade directly in DKK, alongside USD.
Following this announcement, eToro is expected to roll out several new updates set to improve the manner in which Danish users build wealth on the platform, including reduced currency conversion costs and instant bank transfers.
eToro has introduced DKK accounts, aiming to give Danish users the possibility to deposit, hold, withdraw, and invest directly in their local currency. In addition, Danish users will be enabled to choose to fund trades from their DKK or USD balance, rather than converting to USD by default. When investing in Copenhagen-listed stocks, they will also be allowed to eliminate conversion fees by funding trades in DKK.
Enabling users to use DKK to deposit, hold, and invest on eToro, and access instant bank transfers
According to the official press release, the new upgrades will give users the possibility to benefit from major discounts on currency conversions between DKK and USD when buying USD-listed assets. Conversion fees start from only 0.75%, and can be lowered to as little as 0.15% depending on the user’s eToro Club tier.
As the company continues the process of strengthening its presence in Denmark, it is expected to offer its customers and users access to a global offering alongside a localised investment and money management experience. At the same time, the initiative of introducing DKK accounts is expected to enable users to reduce costs and manage their currency exposure more effectively, while also improving Danish investors’ domestic and international trading experience.
Users are expected to also soon be able to deposit BTC, ETH, USDC, and XRP from external wallets to eToro, as well as convert them to DKK, which can then be easily reinvested in any instruments on eToro, withdrawn, or spent. Furthermore, the company has announced several upcoming improvements to how Danish users deposit funds, as an Open Banking solution will enable them to benefit from instant bank transfers without leaving the eToro app as well.
