eToro is the biggest social investment network with more than 4 million users as of 2015, providing an unparalleled social experience to investors

Etoro
Country: 2007
Year: Israel

  • The strongest aspect of eToro is the community, it helps people learn, share and interact with others which makes it addictive for the user
  • eToro offers a “practice” account for people to try out the service and really understand how It works before investing real money
  • eToro provides a lot of statistics on how many people are buying or selling on a particular position. It encourage the user to follow the majority
  • The possibility to copy a user’s position is also a good incentive for people that have little knowledge about trading to actually push them in taking action

Concept

eToro is an easy to use social Forex trading platform. Investors can manage everything on the platform

  • Functioning as a broker, eToro allows its user to trade in real time currencies, commodities, indices or even stocks directly on the platform and monitor performance
  • On the social media aspects, eToro is very similar to what has already been done by Facebook, Twitter and others: each investor has a profile, can follow members, share messages and even search for the most performing investors
  • After finding a well performing investor by customizing the key criteria the user is looking at, he can then decide to copy his every position (the copy system is explained here)

Pricing & Conditions

  • eToro applies broker spreads and rollover fees
  • It does not charge joiners’ nor management fees
  • Other fees that can be charged to users are withdrawal and inactivity fees
  • The minimum deposit is $50K
  • Available Worldwide (in multiple languages)

Differentiation

  • eToro is offering a social experience to its users letting them share insights about their trades and strategies and even getting copied by others
  • Users can use a practice account
  • There is a wide range of training materials available
  • Many online reviews are quite negatives about eToro’s transparency and trustworthiness

Illustration

Video of Jonathan Assia (CEO of eToro) presenting his Start-up at Finovate 2012
https://www.youtube.com/watch?v=aWF6qz3QDys
Many online reviews are denouncing hidden fees and rules on eToro, here.

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