EToro
 | This article contains promotional content. (January 2013) |
 | |
| Company type | Private |
|---|---|
| Industry | Financial services Currency trading Social investment |
| Founded | 2007 |
Key people | Jonathan Assia, CEO and co-founder |
| Revenue | 605,000,000 United States dollar (2020)  |
| 87,200,000 United States dollar (2020) | |
| 82,900,000 United States dollar (2020) | |
Number of employees | 150 |
| Website | www.etoro.com |
EToro is a UK based and regulated social investment company that allows its users to follow the financial trading activity of other users and copy them. Each user automatically has all their trades uploaded to their eToro OpenBook profile where they can be displayed in a number of statistical ways, such as by the amount of profit made. Other users can then set their accounts to copy these traders, in which case the eToro system will duplicate each trade made in the followers account.
EToro provides its social network for investors trading online financial services such as currencies, commodities, indices and stocks through its own electronic trading platform so that it can record and place trades for its users. However, eToro is not itself a broker but primarily a platform and a software provider that interfaces with third party brokers systems through an API. EToro's competitors include Currensee and ZuluTrade.
History
EToro was founded in 2007 in Tel Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring.[1] Initially eToro’s financial trading platform was a download only product, incorporating graphic trading visualizations which conceptualized the trading process as a race between currencies, or a visual tug of war for example.[2] Later the company expanded its product offering by launching a professional trader’s application, “Expert Mode”, and a web based trading platform “WebTrader”.
In May 2011 eToro launched the "CopyTrader" feature in its "eToro OpenBook" community platform, which enables users to view, follow and copy the network's top traders automatically.[citation needed]
Between 2007 and 2012 the company has raised $31.5 million in five rounds of funding to help it expand the business.[3][4][5][6] Throughout this period it opened a research and development office in Israel and additional offices in UK, Cyprus, the US and Australia. The company claims to manage trading worth tens of billions annually and reports an annual customer growth rate of 20%. In its public statements the company has reported that by 2010 it had 1.5 million registered customers.[citation needed]. In 2013 it has 3 million accounts compared to 1.75 million in 2011.[7]
In 2013, eToro significantly expanded its services by introducing the capability to invest in stock CFDs. Currently eToro's selection of stocks includes over 100 investment products, that can be traded both manually and through eToro's CopyTrader system.
Services
EToro provides online financial trading social network through which its users can trade in currencies and CFDs on commodities, gold, silver, stocks and indices. It uses a number of third party brokers to execute the trades.[8]
References
- ^ Globes, April 4, 2009.
- ^ PRWeb, November 28, 2010.
- ^ TechCrunch, March 31, 2009.
- ^ TechCrunch, June 8, 2010.
- ^ TechCrunch, January 26, 2011.
- ^ "Social Investment Network eToro Is Picking Up Another $15 Million From Spark, Others". techcrunch.com. March 13, 2012.
- ^ http://www.bloomberg.com/news/2013-06-25/guru-networks-sell-social-investing-to-copycat-traders.html
- ^ eToro OpenBook