If you’re a frequent internet user, you’ve probably already encountered an advertisement or two of eToro. You may be wondering what it is, or you may already have an idea of what it is but want to know more. If so, this video is for you.
How it Started
In 2007, eToro was launched in Tel Aviv as RetailFX. It started as a forex online broker company but later changed its name to eToro once it began offering other services converting stocks and commodities. It was founded by three main co-founders, Ronen Assia, David Ring, and Yoni Assia, the company’s current CEO.
What is eToro
Initially starting out as an online forex broker service, eToro was built with the vision of opening the global markets so people from all over the world could trade, invest and do other transactions in a transparent and easily accessible manner. Because of this model, and because it started earlier than many of the similar services that followed, its success has propelled it to the top.
How is eToro Doing So Far?
Today, almost 15 years later, eToro is the leading social trading network. Aside from being a pioneer, eToro has allowed aspiring traders and investors to copy the trades of other more experienced investors. This is why they’ve been largely successful despite the many competitors.
Rewards and exclusive perks are also provided to experienced traders if they share their trading strategies with others, so the cycle is kept alive and competitive. As of today, eToro has also embraced cryptocurrency exchange and has over 3,000 tradeable symbols.
Pros and Cons
eToro is an established platform, meaning it’s a secure and stable way to trade, purchase, invest, and transact. They’re also regulated in numerous jurisdictions, so it’s definitely safer than trading platforms and services that aren’t. eToro, with its many users and the option to copy the trading patterns and strategies of others, is also better for beginners who just want to start their trading journey.
However, because it’s regulated, eToro’s stock, ETF, and cryptocurrency trading are only available in 44 states in America, and margin trading isn’t available in the U.S.
What Do Traders Think of eToro?
A lot of traders and investors think highly of eToro. Even for those that may not prefer it, the value of how easy it is to get started in trading and crypto because of how it operates is better than some platforms.
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