Investment platform eToro has reached 13 million registered users globally as more people seek to gain access to financial markets worldwide.
The platform saw an increase of 427% in new users globally making their first deposit on the platform in the first 4 months of the year compared with the same period last year.
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 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 services support are 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 cryptoassets. Users can also choose how they invest: they can execute a trade themselves, copy another user, or invest in a portfolio.