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Highlight
- The number of retail investors around the world engaging with capital and crypto markets is increasing, and with it, the number of people adopting eToro’s platform
- eToro received 1.6 million new registered users - up 8% compared to the same period last year
- The basic layout of the platform allows users to easily buy, hold and sell assets and monitor their portfolio in real time
With the lockdowns of 2020 and 2021, many people have been forced to search beyond their normal revenue streams and seek revenue from stock trading as well as cryptocurrency trading. The knock-on effect of this trend has benefited a host of companies involved in trading assets, particularly online, which has become primarily the way retail investors interact with the stock market and the only way investors can interact with the crypto markets.
One company that has continued its good run in the third quarter of 2021 is eToro, a simple platform where investors can invest in assets and learn about the markets.
What is eToro? Is it safe and trustworthy?
As the CEO of eToro, Yoni Assia, said himself on Friday, the number of retail investors around the world engaging with capital and crypto markets is increasing, and with it, the number of people adopting eToro’s platform.
What Is eToro? Is it safe and trustworthy?
eToro is an investment platform founded in 2007 which offers investment in several different asset types. The social investment company empowers users to grow their investment knowledge and wealth with the vision of democratising market knowledge so everyone can trade and invest in a simple and transparent way.
The investment platform keeps clients' funds in tier 1 banks, with the personal information of all the clients protected under SSL encryption.
Today, eToro has a global community of more than 24 million registered users who share their investment strategies. This is called copy trading, which means anyone can follow the approaches of those who have been the most successful and apply that strategy directly to their own investment decisions. The basic layout of the platform allows users to easily buy, hold and sell assets and monitor their portfolio in real time.
A Strong Third Quarter
For the third quarter of 2021, total commissions were up 66% from the previous corresponding quarter, while net trading income was up 56%.
Moreover, eToro acquired 1.6 million new users, up 8% over prior corresponding period.
Shalom Berkovitz, CFO and Deputy CEO said activity on the platform was above levels seen in 2020 despite the third quarter being a less volatile period for the market.
Image Source: © Sasinparaksa | Megapixl.com
Big Highlights For eToro
A new look – The company launched a new look interface, offering users of both desktop and mobile devices a more personalised and integrated trading experience.
New Office – The company increased its worldwide reach by including an office in Frankfurt, Germany. The move is an example of its commitment to growing its market share in strategic European markets.
Internal Changes – Former president of Ally Invest, Lule Demmissie joined as CEO of eToro’s U.S. business, while eToro announced the appointment of Michael Ptasznik to its Board of Directors.
InvestWithHer: eToro continued its commitment to social change by launching InvestWithHer - a new investor community designed for women by women. It aims to empower female investors by developing a platform for networking as well as the strengthening of financial aptitude.
The Bottom Line
2021 has been a huge year for cryptocurrency, with several digital assets reaching record prices as well as the increase in the total value of the crypto market. With this trend likely to continue into 2022, platforms like eToro, which offer investors a simple way to invest as well as investment education, will continue to grow.
