Founded in 2007, eToro is a leading social trading platform with millions of registered users. It is a leading player in the fintech industry and offers a range of investment options to customers. With eToro, users can choose various investment avenues such as stocks, ETFs, currency trading, commodities, CFD trading and crypto currencies.
One of the key benefits of trading on eToro platform is that one can learn from professional traders and other users and share their own updates as well. Another benefit that customers get is that they do not have to pay any commission when trading in stocks on eToro. The commission is zero percent, irrespective of the trading volume. There are no hidden charges or fees either.
eToro’s story began more than a decade back when the founders noticed the mystique and complexities associated with the financial markets. There were many people who were interested in investing, but they were held back due to their inability to understand the intricacies of the financial world. The founders decided to make investing easier for the common people by providing them with an intuitive social trading platform. The first product was a visual FX trading platform that was launched in 2007. It came with graphic representations for easy understanding of various financial instruments.
Since then, eToro has been consistently improving its service offerings and technology platforms. Over the years, several new modules were added such as WebTrader intuitive trading platform, OpenBook social trading platform, eToro mobile app, CopyPortfolios and US cryptocurrency trading platform. eToro is currently focusing on expanding its global presence. Apart from UK, it has offices in Cyprus, USA and Australia.
eToro has received investments worth USD 222.7 million. Top investors include CommerzVentures, Ping An Insurance, Spark Capital, SBI Holdings, BRM Group, China Minsheng Financial Holding, and Korea Investment Partners.
eToro’s recent acquisitions include Firmo, Delta and Marq Millions. Firmo was a Copenhagen-based blockchain firm that was acquired in March 2019. Delta was a crypto portfolio tracker app acquired in November 2019. The third acquisition was Marq Millions, a UK based e-money business. It was acquired in July 2020.
eToro competes with other fintech companies such as Tradeo, Ayondo, Social Trading Guru, Plus500, ZuluTrade, and SwipeStox.
About the Founders:
eToro was founded by brothers Yoni Assia and Ronen Assia, along with their partner David Ring. Yoni currently serves as the CEO of eToro and has expertise in finance and computer science. His educational qualifications include B.Sc. and M.Sc. in Computer Science. Ronen is focused on technology and currently works as an executive director at eToro. He has a BA degree in industrial design and an MA degree in product design.