eToro, the trading and investment platform, has extended its proxy voting feature to include all stocks listed on its platform, following massive user engagement.
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Through its partnership with Broadridge Financial Solutions Inc., eToro users, including fractional shareholders, can now participate in Annual General Meetings (AGMs) for stocks worldwide. They can cast proxy votes on various issues such as mergers, executive pay, and environmental, social, and governance targets.
Previously, eToro had launched proxy voting for US stocks only. In 2023, eToro users submitted over 145,000 votes. Among the most voted stocks by eToro users were Apple, Amazon, AMC, and GameStop.
According to eToro’s Retail Investor Beat, a global survey of 10,000 retail investors across 13 countries, the appetite for voting is growing. Almost one in three (29%) retail investors have voted in an AGM before, up from 26% in the previous survey. The most common topics voted on include the election or reelection of directors (47%), dividends (45%), share buybacks (34%), and executive pay (30%).
Dan Moczulski, UK Managing Director at eToro, stated, “eToro users embraced proxy voting last year, and we are thrilled to be building out this feature to include all stocks on our platform. Our users invest in companies from all over the world. Now they can have their voice heard with these companies by having a say in big corporate decisions."
Demi Derem, General Manager of International Corporate Governance, Digital Transformation, and Market Innovation at Broadridge, said, “We are delighted that voting on US-only stocks has proved so popular with eToro’s users since the launch of their service last year. We are proud to further develop our partnership to support an expanded capability that includes all stocks, globally."
Gili Wolff, Senior Director of Product, Trading & Dealing at eToro, added, “As we continue to build out eToro’s stock offering, proxy voting will be an increasingly important feature for our users, allowing them to exert their rights as shareholders and have a direct influence on the companies they hold in their portfolio."
