eToro’s much Anticipated US Launch
eToro has been at the forefront of the fintech revolution since it was formed back in 2006. The Assia brothers founded the company to make trading and investing easier for the masses.
eToro’s has embraced the world of blockchain and helped drive it forward, being one of the first CFD brokers to offer the asset class to the public, it believes that the industry will be a real force for good and disrupt the traditional global financial system. As quoted from their press release: “eToro believes that in the future, all assets will be tokenized which will have a huge impact on global finance and, therefore, a major focus for the firm. ”
With over 10 million users worldwide, eToro is one of the world’s largest multi-asset trading platforms. Making this platform available in the US brings a new approach to trading to the US. The social-trading platform gives both novice and expert investors the opportunity to make increased profits by being part of the community.
It will be available in 32 states, offering 13 cryptocurrencies with more to be added throughout 2019 along with more asset classes.
eToro CEO, Yoni Assia, said: “For the first time, Americans can collaborate with other crypto traders when making buying and selling decisions. Users can adjust their trading strategies by watching and learning from others on the platform. When I founded eToro, I envisioned a community where people could trade, invest and share their knowledge in a simple and transparent way. eToro also acts as a bridge between the old world of investing and a blockchain-powered future, helping our users navigate and benefit from the transition to cryptoassets for wealth building. People create the eToro experience and now Americans will play a major role in shaping our community and future.”
The idea of the platform is to help build a community, on most other trading platforms, each trader is out for themselves. With eToro’s platform, all levels of trader will benefit from sharing their information. Less experienced investors can copy the experts and profit from their expertise, whilst the experts receive monetary benefits with the more followers they have. So essentially, the more profitable you are, the more users will follow you and the more you will make from those. Win win.
Users information available includes their portfolio, their open positions and, most importantly, their track record, which comes with drawdown, biggest win, plus much more.
With the information being public, eToro have also developed two features that automatically track another users portfolio and copy using a set allocation of your funds. The CopyTrader will copy their trades whilst the CopyPortfolio is built by eToro analysts and give you options of portfolios to copy.
The company plan to launch their new cryptocurrency exchange, eToroX, later this year which will be another move into the crypto space. Currently beta testing, this platform will rival the likes of Coinbase and Binance. This is clear positioning to be a leader in the transfer of wealth onto the blockchain.