|Key people||Jonathan Assia, CEO and co-founder|
eToro is a Cyprus based social trading company that allows its users to watch the financial trading activity of other users and copy them. Client's allow their trades to be uploaded to the eToro network 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 follow these traders, in which case the eToro system will duplicate each trade made in the followers account.
eToro provides its social network for traders trading online financial services such as forex, commodities and stock indices through its own electronic trading platform so that it can record and place trades for its users. eToro's competitors include Currensee and ZuluTrade.
eToro was founded in 2007 in Tel-Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring. eToro's founders wanted to make the world of financial investment accessible to everyone through the company's initial financial trading platform, which was a download only product, incorporating graphic trading visualizations which conceptualized the trading process as a race between currencies or a currency tug of war. Later the company expanded its product offering by launching a professional trading application, "Expert Mode", and a web based trading platform "WebTrader".
In 2010 eToro launched the eToro OpenBook social investment platform, along with its "Copy-Trading" feature. The eToro OpenBook enables investors to view, follow and copy the network's top traders automatically. In 2011, Etoro launches its first Android apps for investor to buy and sell stock via mobile itself.
In December 2014 eToro raised $27 million from Russian and Chinese investors.
In 2013, eToro introduced the capability to invest in stock CFDs, with an initial offering of 110 stock products. That same year, eToro was authorized to offer its services in the UK by the FCA regulatory authority, under the subsidiary eToro UK. In January 2014, eToro added Bitcoin CFDs to its investment instruments.
In its public statements the company has reported that by 2010 it had 1.5 million registered customers. By the end of 2013 it reportedly had over 3 million accounts. eToro is regulated by the CySec authority in Europe, and authorized by the FCA in the UK.
eToro's social trading services are based on a live stream of trading data that is uploaded to the eToro OpenBook platform for everyone to see.
Each user automatically has all their trades presented in their eToro OpenBook profile where other users can then view their trading statistics. Users can then set their accounts to copy any investor on the network, in which case the eToro system will duplicate each trade made by the copied investor in the copier's account. Users can also share interesting posts in eToro and to other social networks. eToro provides support via Chat and Phone in various languages and USD/EUR/GBP currency deposits are accepted, Islamic terms accounts are also offered
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