eToro: 427% growth in new investors, platform reaches 13 million users

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eToro is a social trading platform that also offers trading in cryptocurrencies. As the company recently announced, there was strong growth in users making their first deposit in the early months of 2020. A total of 13 million people are registered on the platform.

eToro seems to benefit from Corona

According to eToro, interest in the financial market and trading in assets and cryptocurrencies appears to be growing. Compared to the first four months of 2019, the company saw 427% growth in users making their first deposit. The increase may be related to the ongoing corona pandemic.

Trading in stocks has even tripled since the beginning of the year. In May 2019, eToro presented commission-free trading in stocks and ETFs for users from the UK and the EU. Like eToro versus financial magnates reports, this service is to be expanded to the Asia Pacific region (APAC). The USA should also have access to commission-free trading at the end of the year.

eToro CEO Yoni Assia sees a connection between the corona pandemic and the increasing growth in the financial market:

The market volatility caused by the corona virus has become the focus of the media worldwide and has increasingly brought the topic of investment onto the radar of people. We have seen a significant increase in trading volume since the beginning of 2020, both for new and existing users.

While eToro clearly benefited from the global state of emergency, crypto exchanges recorded significantly less traffic. As we reported, they had an average of 12% less traffic.

Crypto exchanges saw 12% less traffic in April


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