eToro Company, a leading social investing platform, has officially obtained a license to operate in New York. In an interview featured on the New York Stock Exchange’s LinkedIn page, eToro’s Founder and CEO, Yoni Assia, emphasized the significance of this milestone for the company’s expansion in the region.
eToro Company Expanding Services to New York
Expressing enthusiasm about the move, Assia stated, “We are thrilled to bring eToro to New York, where customers can trade stocks and options with ease. Additionally, our global users can access cryptocurrencies, commodities, and indices. This marks a pivotal step in connecting our innovative platform with the New York trading community.”
Assia highlighted New York’s robust trading culture, noting, “There’s immense value in the wealth of knowledge and activity New Yorkers bring to the market. Our platform empowers users to view and learn from others’ trading activities and records, reinforcing the social trading concept we pioneered. Transparency is key, and it’s vital for investors to understand that effective investing is rooted in risk management.”
What Next For eToro Company?
When asked about future plans, Assia revealed the company’s interest in leveraging advancements in artificial intelligence (AI). He explained how AI enhances users’ ability to assess companies, offering tools to analyze financial reports and perform fundamental evaluations. He also highlighted the platform’s growing global presence, with 37 million registered users across 75 countries.
Recent Expansion of The eToro Company
eToro Company reported a significant growth in cryptocurrency trading. According to The Finance Line, the total value of new Bitcoin positions on the platform surged over 290% in the first half of November compared to October. This increase coincided with heightened market activity following major events, such as the U.S. elections, which also drove substantial growth in crypto CFD volumes on platforms like Pepperstone and Axi.
Last month, eToro introduced a feature allowing users to trade in local currencies, such as GBP and EUR. This update eliminates conversion fees, offering investors cost savings and greater control over currency exposure. This enhancement is expected to simplify trading and improve user experience for investors across supported regions.