eToro launched commission-free investing for stocks for users in the UK and Europe last May. Stock trading on the platform has tripled since the beginning of 2020 and eToro hopes to extend its commission-free offering to the Asia Pacific very soon and to the US later this year.
Yoni Assia, CEO, and co-founder of eToro commented,
“Coronavirus induced market volatility has been a focus for media globally and has brought the topic of investing increasingly onto people’s radars. We have seen a large increase in trading volumes on eToro since the start of 2020 from both new and existing users. We started eToro with the mission of opening up global financial markets so everyone could invest in a simple and transparent way. 13 million is a fantastic milestone, but we have more to do to ensure everyone feels they have the knowledge and confidence to invest and grow their wealth.”
Since it was founded in 2007 eToro has grown to become a business with over 850 employees across 10 offices and users in more than 100 countries. The website and customer service support is available in 21 and 8 languages respectively, making it a truly global platform.
“We have spent the last 13 years scaling our operational capabilities so that we can offer our multi-asset services to people in over 100 countries,” said Assia. “Now we are focusing more than ever on evolving our product offering to keep up with evolving customer demands. We were amongst the first to offer bitcoin back in 2013 and we now offer 15 cryptos alongside more traditional assets such as stocks, ETFs, and commodities.
During these challenging times, we’re proud to say we’re a financially stable and profitable company. We are continuing to hire the talent we need to support our growth and having made two acquisitions last year (Firmo and Delta) we remain on the lookout for further acquisitions.
The eToro platform enables people to invest in the assets they want, from stocks and commodities to crypto assets. Users can also choose how they invest: they can execute a trade themselves, copy another user, or invest in a portfolio.
Notes to editors
eToro was founded in 2007 with the vision of opening up the global markets so that everyone can invest in a simple and transparent way. The eToro platform enables people to invest in the assets they want, from stocks and commodities to crypto assets. We are a global community of more than 13 million registered users who share their investment strategies, and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real-time, and transact whenever they want. For more information, please visit here.
eToro is a multi-asset platform that offers both investing in stocks and crypto assets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not an indication of future results. Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.