eToro is a social trading and multi asset brokerage company that focuses on providing copy trading services that has registered offices in Cyprus, Israel and the United Kingdom. etoro 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. In December 2017, eToro and CoinDash became partners to develop Blockchain-based social trading. In 2018 eToro raised a further $100 million in a private funding round.
In May 2018, eToro entered the US Market by offering 10 cryptocurrencies: Bitcoin, Ethereum, Litecoin, XRP, Dash, Bitcoin Cash, Stellar, Ethereum Classic, NEO, and EOS.
In August 2018, eToro announced a sponsorship deal with seven UK Premiership teams including Tottenham Hotspur, Brighton & Hove Albion F.C., Cardiff City F.C., Crystal Palace F.C., Leicester City F.C., Newcastle United F.C. and Southampton F.C.
eToro Operations
eToro's main research and development office is located in Tel Aviv, Israel. In addition to legal entities registered in the UK, China, Australia and Cyprus.
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. In 2013 eToro has been fined €50,000 by CySEC due to detected weaknesses which concerned its organisation and operation structure back to 2010. In 2015 eToro was added to Quebec blacklist as an unauthorized foreign company that encouraged local residents to invest in binary options via its trading platform.
At the end of 2017, eToro announced it had 8 million opened accounts.
Content Source :
0 Comments