Social investing platform eToro has obtained approval to operate in New York, marking a key milestone in its global growth strategy. The platform now aims to offer access to stocks, options, cryptocurrencies, commodities, and indices to customers in the region.
Expanding Services in New York
Yoni Assia, eToro’s Founder and CEO, expressed enthusiasm for the company’s launch in New York. Speaking in an interview shared on the NYSE LinkedIn page, Assia stated, “We are thrilled to introduce eToro to New York customers, allowing them to trade stocks and options seamlessly. Globally, our users can also trade cryptocurrencies, commodities, and indices, and this expansion is an important step for us.”
He also emphasized eToro’s unique approach to social investing. “Our platform lets users view the trading activities and records of others, promoting transparency. As pioneers of social and copy trading, we aim to help investors manage risks by understanding their trading performance.”
Embracing AI for Smarter Investing
Looking ahead, Assia highlighted eToro’s interest in leveraging artificial intelligence to enhance user experience. AI technology will allow investors to analyze companies, summarize financial reports, and conduct fundamental analysis more efficiently. Assia noted that eToro now serves 37 million registered users across 75 countries.
Recent Milestones and Features
In November, eToro reported a significant surge in Bitcoin positions, with the total value rising by over 300% in the first two weeks of the month compared to October. The company also launched a feature enabling users to trade in local currencies like GBP and EUR, eliminating conversion fees and offering greater currency control.
As eToro continues to expand, its entry into the New York market signals a broader push to cement its presence in key financial regions and enhance its offerings with cutting-edge technology.
