Type Private | Founded 2006 (2006) | |
 | ||
Industry Financial services
Investing online
Social investment Headquarters Limassol, Cyprus
London, United Kingdom
Tel Aviv, Israel Key people Jonathan Assia
(CEO and co-founder)
David Assia
(Chairman of eToro USA LLC) Services Online Forex trading, financial spread betting, CFDs, copy trading | ||
eToro is a social trading and multi asset brokerage company that has registered offices in Cyprus, Israel and the United Kingdom.
Contents
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History
eToro was founded as RetailFX in 2006 in Tel Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring.
In 2010, eToro released the eToro OpenBook social investment platform, along with its "Copy-Trading" feature. The eToro OpenBook enables investors to view, follow and copy the network's top traders automatically. Later that year, eToro released its first Android apps so investors could buy and sell stock via mobile devices.
Between 2007 and 2013, the company raised $31.5 million in four rounds of funding. In December 2014, eToro raised $27 million from Russian and Chinese investors.
Operations
eToro's main research and development office is located in Tel Aviv, Israel. In addition to legal entities registered in the UK and Cyprus, eToro is present in Australia through partnership with IC Markets.
In 2013, eToro introduced the capability to invest in stock CFDs, with an initial offering of 110 stock products. That same year, eToro was authorized to offer its services in the UK by the FCA regulatory authority, under the subsidiary eToro UK. In January 2014, eToro added Bitcoin CFD to its investment instruments. In April 2014, eToro added 130 British and German stocks composing the FTSE 100 Index and the DAX30 indices to the company's stock selection. eToro is regulated by the CySEC authority in Europe, is authorized by the FCA in the UK, and is a registered NFA member in the United States.
By the end of 2013, eToro reportedly had over 3 million accounts.
Sponsorship
In June 2015, eToro announced its 3-year partnership deal with the West Ham United football club from the English Premier League.