eToro

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Not to be confused with Etoro people.
eToro
Private
Industry Financial services
Investing online
Social investment
Founded 2006 (2006)[1]
Headquarters Limassol, Cyprus
London, United Kingdom
Tel Aviv, Israel
Key people
Jonathan Assia
(CEO and co-founder)
David Assia
(Chairman of eToro USA LLC)[2]
Services Online Forex trading, financial spread betting, CFDs, copy trading
Number of employees
150-499[3]
Website www.etoro.com

eToro is a social trading and brokerage company that has registered offices in Cyprus, Israel and the United Kingdom.[4][5][6]

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 provides its services in 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 Tradeo,[7] ZuluTrade, and MQL5 Signal Service.[8]

History[edit]

eToro was founded as RetailFX in 2006 in Tel Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring.[1][9] 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.[10] Later, the company expanded its product offering by launching a professional trading application, "Expert Mode", and a web based trading platform "WebTrader".[11]

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.[12] Later that year, eToro launched its first Android apps so investors could buy and sell stock via mobile devices.[13]

Between 2007 and 2013, the company raised $31.5 million in four rounds of funding to help it expand the business.[14][15][16]

In December 2014, eToro raised $27 million from Russian and Chinese investors.[17]

Operations[edit]

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.[18]

In 2013, eToro introduced the capability to invest in stock CFDs, with an initial offering of 110 stock products.[19] That same year, eToro was authorized to offer its services in the UK by the FCA regulatory authority, under the subsidiary eToro UK.[6] In January 2014, eToro added Bitcoin CFD to its investment instruments.[20]

Three months later, in April 2014, eToro added 130 British and German stocks composing the FTSE 100 Index and the DAX30 indices to the company's stock selection.[21]

In its public statements, the company has reported that by 2010, it had 1.5 million registered customers.[22] By the end of 2013, it reportedly had over 3 million accounts.[23] eToro is regulated by the CySEC authority in Europe,[4] is authorized by the FCA in the UK,[6] and is a registered NFA member in the United States.[5]

Services[edit]

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.[24]

eToro's selection of investment instruments includes spot currency pairs and CFDs for commodities, indices, stocks, and Bitcoin.[25]

Joining[edit]

To join the eToro community, you simply need to add a few basic details into a profile (email address, name, password, etc). However, to withdraw money you need to provide identification details, such as an image of your passport. This is to prevent money laundering, etc. eToro often run incentive schemes for referring new members. Their current scheme sees a $100 bonus for both the referrer and referee. To benefit from this scheme, use this joining link... http://etoro.tw/1CErlOC

Sponsorship[edit]

In June 2015, eToro announced its 3-year partnership deal with the West Ham United football club from the English Premier League.[26]

References[edit]

  1. ^ a b "Company Overview of eToro (Europe) Ltd.". Bloomberg News. Retrieved 13 May 2015. 
  2. ^ "David Assia, eToro USA LLC: Profile & Biography - Bloomberg". Bloomberg News. Retrieved 13 May 2015. 
  3. ^ "eToro Online Trading". Glassdoor. Retrieved 13 May 2015. 
  4. ^ a b "Etoro (Europe) Limited - CySEC". CySEC. Retrieved 13 May 2015. 
  5. ^ a b "ETORO USA LLC - NFA". NFA. Retrieved 13 May 2015. 
  6. ^ a b c "583263 - eToro (UK) Ltd - FCA". FCA. Retrieved 13 May 2015. 
  7. ^ Fox, Mike (8 May 2014). "Social trading company Tradeo becomes a Forex broker, obtains CIF status!". LeapRate. Retrieved 13 May 2015. 
  8. ^ "How Beneficial Are MetaTrader 4 and MetaTrader 5 Signals to Providers?". International Business Times. 18 June 2013. Retrieved 13 May 2015. 
  9. ^ Rust, Donnie (7 November 2013). "eToro. Seriously? Is It That Easy?". Littlegate Publishing. Retrieved 13 May 2015. 
  10. ^ "eTORO Launches a Revolutionary Forex Trading Platform for Financial Trading" (Press release). Hammond, IN: PRWeb. 10 September 2007. Retrieved 13 May 2015. 
  11. ^ "eToro Launches New Features For Forex Investment" (Press release). Investing.com. Retrieved 13 May 2015. 
  12. ^ Greenberg, Michael (12 July 2010). "eToro launches its own Forex Social Community – OpenBook". Finance Magnates. Retrieved 13 May 2015. 
  13. ^ Greenberg, Michael (7 October 2010). "eToro’s OpenBook goes mobile". Retrieved 13 May 2015. 
  14. ^ "eToro, Crunch Base". CrunchBase. Retrieved 13 May 2015. 
  15. ^ Arrington, Michael (8 June 2010). "eToro Adds $2.4 Million To The Coffers: "Zynga For Real Men"". TechCrunch. Retrieved 13 May 2015. 
  16. ^ Lunden, Ingrid (13 March 2012). "Social Investment Network eToro Is Picking Up Another $15 Million From Spark, Others". TechCrunch. Retrieved 13 May 2015. 
  17. ^ Williams-Grut, Oscar (12 December 2014). "Silicon Round-Up: eToro plans UK push after snagging $27m from Russians and Chinese". London Evening Standard. Retrieved 13 May 2015. 
  18. ^ Greenberg, Michael (13 January 2010). "eToro Launches Forex Operations in Australia". Finance Magnates. Retrieved 13 May 2015. 
  19. ^ Finberg, Ron (25 July 2013). "eToro Adds Stocks on its Social Trading Network as Operations Evolve". Finance Magnates. Retrieved 13 May 2015. 
  20. ^ Doshi, Vidhi (13 January 2014). "eToro launches Bitcoin trade". TechCityNews.com. Retrieved 13 May 2015. 
  21. ^ "German and British Stocks Now Available for Investment". ForexBrokernews.com. 14 April 2014. Retrieved 13 May 2015. 
  22. ^ Levitan, Alon (20 April 2011). "eToro Surpasses 1.5 Million Users" (Press release). London, UK: PR Newswire. Retrieved 13 May 2015. 
  23. ^ Wong, Joon Ian (13 January 2014). "eToro Launches Bitcoin Trading For 3 Million Users". CoinDesk.com. Retrieved 13 May 2015. 
  24. ^ Finberg, Ron (3 March 2015). "Sneak Peak: eToro’s New OpenBook Trading Platform And Unified Social Trading Future". Finance Magnates. Retrieved 13 May 2015. 
  25. ^ "eToro Rating and Trading Review". FxPros.net. Retrieved 13 May 2015. 
  26. ^ Nikolova, Maria (4 June 2015). "eToro signs 3-year sponsorship deal with West Ham United". LeapRate. Retrieved 6 June 2015. 

External links[edit]