The Israel-based giant financial services firm, eToro, announced their move to extend U.S traders’ investment portfolio options by introducing stocks and ETFs. This is an excellent move that has seen the company switch from only offering US investors three options: trade on their own, use eToro’s CopyTrader system to mimic the portfolios of successful investors, or invest in one of its Copy Portfolios.
As a result, clients will be able to invest in a range of stocks across industries which is a key factor to consider when making a well-balanced diversified portfolio. In a rather unexpected twist, eToro expects to go public through a SPAC merger with Fintech Acquisition Corp. V in June.
With 20 Million clients, eToro continues to offer eToro Money which seamlessly connects with an eToro user’s investment account to enable instant, friction-free deposits and withdrawals, and highly competitive exchange rates across the globe. Moreover, the company agrees to broaden its services by empowering U.S users to embrace this offer for diversification.
Lule Demmissie, the CEO of eToro US-issued that “For many new investors, crypto investing is a gateway to investing in stocks, and with broader access to financial education and fewer barriers to entry for first-time investors, we expect this trend to continue. As we continue to expand our offering in one of the world’s most important financial markets, we look forward to empowering U.S. users to expand their investing journey on the eToro platform and interact with our social community in new ways”.
Already a Success
Well, the mega move seems to have been a success already. eToro is doing well – it’s a whole topic not only among investors but in popular culture too. But, don’t take my word for it. A recent press release indicated that 56% of eToro clients are looking to invest in stocks. With the launch of the new tradable assets, clients will be able to exercise their trading skills by managing their portfolios with both traditional assets and crypto assets concurrently.
“The launch of stock investing in the United States empowers eToro’s millions of U.S. retail investors to manage a portfolio of diversified investments that include traditional assets and crypto assets side-by-side in a single, easy-to-use mobile app or desktop interface,” the company added.
Founded in 2007, eToro has made a name for itself as the best broker for social trading. It also boasts a graphics-intensive platform that serves cryptocurrency traders in the U.S and it has adapted those tools for crypto trading. Traders can trade stocks and contracts for difference. The key feature of this unique proprietary platform is the ease with which an individual client can implement copy trading.
