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|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. Each user automatically has all their trades 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. 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.
eToro was founded in 2007 in Tel-Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring. eToro launched its platform version in a visual trading mode which presented online currency trading (forex) as a series of games. 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 and a visual tug of war amongst others. 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 "CopyTrader" feature in its "OpenBook" community platform, which enables users to view, follow and copy the network's top traders automatically.
Between 2007 and 2012 it raised $31.5 million in five rounds of funding to help it expand the business. 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.. In 2013 it has 3 million accounts compared to 1.75 million in 2011.
eToro provides online financial trading social network through which its users can trade in forex and CFDs on commodities, gold, silver and indices. It uses a number of third party brokers to execute the trades.
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