EToro

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eToro
EToro.png
Founded 2007
Headquarters Tel Aviv, Israel
Key People Yoni Assia, CEO and co-founder
Products Social cryptocurrency trading platform
Twitter @etoro
LinkedIn Profile
Facebook eToro
Website EToro Home
Blog EToro Blog

With offices in London, Cyprus and Israel, EToro is a 'social investment network' that combines trading currencies, commodities, indices and equities as well as cryptocurrencies with social networking features. "Social" trading or investing entails trading platform customers allowing others customers to view their transactions in order for them to replicate others' successful trading strategies.[1]

Overview

EToro offers trading to U.S. residents in bitcoin, Bitcoin Cash, Ethereum, Ripple, Dash, Litecoin, Ethereum Classic, Cardano, IOTA, Stellar, EOS, NEO, ZEC and, as of October 30, 2018, Binance Coins (BNB).[2] U.S. residents can access trading only on eToro's cryptocurrency markets.[3] The listing of BNB drew attention from observers who noted that, unlike other cryptocurrencies listed on eToro, BNB would likely be considered a security token for purposes of regulation by U.K. and other financial market regulators.[4]

Company History

EToro launched its first full version of social trading on CopyTrader, one of its trading platforms, on June 27, 2011.[5] A key feature was its OpenBook network, which let users see what trades other users were making and how they were ranked. Within certain account-based limits, customers could copy trades made by successful traders. According to eToro co-founder Yoni Assia, OpenBook provided customers with a way to learn about currency trading and the eToro platform.[6] Before that, eToro offered a social aspect to its currency trading by encouraging its members to share information and opinions about market movements through a private online chat platform.[7]

In January 2014, eToro launched trading in cryptocurrencies, limited to contracts for difference on bitcoin.

In March 2019, eToro released a statement saying that it would acquire the research and development team of Danish blockchain firm Firmo in order to "accelerate growth of tokenized financial assets."[8]

Survey Reveals Demand for Crypto Education

According to a survey conducted by eToro's U.S. division, there is significant demand for greater education for digital assets - how to trade them, store them, and how they work. The survey found that 69 percent of all respondents said they were interested in learning more about digital assets, including 97 percent of the millennial and gen-x respondents. 75 percent of respondents reported that they were not knowledgeable about digital assets - 20 percent of those who reported this way also reported that they were holders of digital assets.[9]

Key People

References