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London, United Kingdom
Tel Aviv, Israel
(CEO and co-founder)
(Chairman of eToro USA LLC)
|Services||Online Forex trading, financial spread betting, CFDs, copy trading|
Number of employees
eToro is a social trading and multi asset brokerage company that has registered offices in Cyprus, Israel and the United Kingdom. eToro allows its users to watch the financial trading activity of other users, copy them, and to make their own trades. Clients 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 was founded as RetailFX in 2006 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. Later that year, eToro launched its first Android apps so investors could buy and sell stock via mobile devices.
In December 2014, eToro raised $27 million from Russian and Chinese investors.
eToro's main research and development office is located in Tel Aviv, Israel. In addition to legal entities registered in the UK and Cyprus, eToro is present in Australia through partnership with IC Markets.
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 CFD 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, is authorized by the FCA in the UK, and is a registered NFA member in the United States.
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.
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