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Concept
EToro
Summary
eToro is a social trading and multi-asset investment company that focuses on providing financial services. Its headquarters are located in Central Israel, and the company has registered offices in Cyprus, the United Kingdom, the United States, and Australia.
eToro was founded as RetailFX in 2007 in Tel Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring. In 2010, the firm released the eToro OpenBook social investment platform, along with its CopyTrader feature, that enables investors to copy the network's top traders automatically. Later that year, the firm released an Android app.
Between 2007 and 2013, the company raised 27 million from Russian and Chinese investors. In December 2017, it joined CoinDash to develop Blockchain-based social trading. In 2018, it raised a further 162 million has been invested in the company by investment firms.
In 2013, the firm introduced the capability to invest in stocks and CFDs, alongside commodities and currencies, with an initial offering of 110 stock products (which later grew to 3000 financial products). The same year, it was authorized to offer services in the UK, under the subsidiary eToro UK. In January 2014, the firm added cryptocurrencies to its investment instruments.
In March 2019, eToro acquired Danish blockchain company Firmo for an undisclosed sum. In October 2019, eToro released a sentiment-based crypto portfolio using AI technology to evaluate Twitter's current positive or negative impressions of digital assets. In November 2019, the firm acquired Delta, a crypto portfolio tracker application company, based in Belgium. In March 2019, the company launched its cryptocurrency trading platform and its standalone cryptocurrency wallet to US users.
In 2021, the company reported operating in 140 countries and having 20 million users.
Official source
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