Nine million investors have accounts on eToro, a platform where traders buy and sell alongside one another. The company raised $100 million in early 2018 to fuel global expansion and blockchain techno
Nine million investors have accounts on eToro, a platform where traders buy and sell alongside one another. The company raised $100 million in early 2018 to fuel global expansion and blockchain technology development, bringing its total capital to $162 million since inception. The growth reflects surging interest in digital currencies alongside traditional assets.
Cryptocurrency demand has driven much of eToro's recent expansion. Users sought access to digital coin trading, so eToro added ten options: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, Ethereum Classic, Dash, Stellar, NEO, and EOS. Stellar, NEO, and EOS are the three latest additions, each valued above $1 billion by market cap.
Founder and CEO Yoni Assia conceived the company on a single principle. "eToro was built with the vision of democratising financial markets by making trading and investing accessible to all. Since launching, we've seen strong customer demand for our approach…as new technology continues to change finance, we want to remain at the forefront of that change." The platform now spans over 1,500 instruments across six asset classes, including stocks, commodities, currencies, and indices.
Not all investors have trading expertise or bandwidth to watch markets every day. eToro's patented CopyTrader system lets these users replicate the trades of other investors on the platform in real time. Israel Kalush, the company's vice president of engineering, explained how it works: "On the eToro platform, you can identify network members who are in line with your investment philosophy, risk appetite, and/or specific industry sectors of interest, and immediately start learning from, interacting with, and even automatically copying those individuals in real time."
eToro groups its traders into CopyFunds. The Top Trader version collects the platform's highest-performing and most sustainable traders. Market CopyFunds focus on different sectors, including a cryptocurrency fund that eToro launched in July 2017. The company's investment committee oversees these funds, assembling portfolios that novice and experienced investors can access as a single, managed package.
Visit eToro.com to sign up. Your capital is at risk. Cryptocurrencies can fluctuate widely in prices and are therefore not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance is not an indication of future results. This is not investment advice.
