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eToro reaches milestone of 20 million registered users

The online trading platform announced the milestone in a press release on its website

Trading platform eToro has announced it has now reached 20 million registered users around the world — as well as revealing the locations and demographics of its user base.

Founded in 2007 with an objective to bring accessible trading to everyone, eToro has been at the forefront of online trading for stocks, commodities and cryptocurrencies in recent years, with a strong marketing presence in the UK and internationally.

The platform has launched a number of viral campaigns in recent years, with one ad spot featuring actor Alec Baldwin using sock puppets, as well as extensive coverage from Transport for London (TFL), as seen on London’s iconic red buses

According to the company’s data analysis, its average user is aged 34 and works as either a full-time trader or in IT, with the majority based in the UK followed by Germany.

In addition, eToro revealed that Bitcoin investments were the most popular investment, making up one in 25 of every purchase made on the platform — highlighting that cryptocurrency investment could one day begin to overtake other asset classes.

The company attributes much of its success to the introduction of its social trading function in 2010, which allows users to copy the trades of experienced professional traders; ideal for beginner traders looking to learn the ropes. In addition, the trading broker also praised its 0% commission structure and its CopyPortfolio product for investors looking for more long term investment instead of high-frequency trading.

Support and congratulations for the milestone came from the Good Dollar project’s Twitter account. Good Dollar was founded by eToro CEO Yoni Assia, and aims to bring universal basic income (UBI) about by using digital assets to redistribute wealth.

eToro ended its post to say that it looks forward to the next 20 million users, in a sign that the platform has no plans for slowing down and resting on its laurels.

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