Etoro: Difference between revisions
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|Founded=2007 | |Founded=2007 | ||
|Industry=Financial | |Industry=Financial | ||
|Logo= | |Logo=Etoro logo.png | ||
|ParentCompany= | |ParentCompany= | ||
|Type=Private | |Type=Private | ||
|Website=https://www.etoro.com | |Website=https://www.etoro.com | ||
}} | }} | ||
$1 | '''{{Wplink|eToro}}''' is a social trading and multi-asset investment company focused on providing financial services. In 2023, the company valuation was $3.5 billion.<ref>{{Cite web |last=Nishant |first=Niket |title=Israel's eToro valued at $3.5 bln in funding round, months after ending SPAC deal |url=https://www.reuters.com/markets/deals/israels-etoro-valued-35-bln-funding-round-months-after-ending-spac-deal-2023-03-21/ |website=Reuters |date=21 Mar 2023 |access-date=26 Feb 2026 |url-status=live |archive-url=http://web.archive.org/web/20240625064350/https://www.reuters.com/markets/deals/israels-etoro-valued-35-bln-funding-round-months-after-ending-spac-deal-2023-03-21/ |archive-date=25 Jun 2024}}</ref> At the beginning of 2025, the company filed for {{Wplink|Nasdaq}}.<ref>{{Cite web |last=Nasr |first=Tony |title=eToro statistics 2025: assets under management (AUM), number of users, revenue, & more |url=https://investingintheweb.com/brokers/etoro-statistics/ |website=Investing the Web |date=5 Jan 2025 |access-date=15 Mar 2025 |url-status=live |archive-url=http://web.archive.org/web/20251013093118/https://investingintheweb.com/brokers/etoro-statistics/ |archive-date=13 Oct 2025}}</ref> In September 2024, eToro had 38 million registered users,<ref>{{Cite web |author= |title=eToro acquires investment app Spaceship in $80M Australia expansion move |url=https://www.spaceship.com.au/news/etoro-acquires-spaceship-2024/ |website=Spaceship |date=25 Sep 2024 |access-date=26 Feb 2026 |url-status=live |archive-url=https://web.archive.org/web/20241001134909/https://www.spaceship.com.au/news/etoro-acquires-spaceship-2024/ |archive-date=1 Oct 2024}}</ref> and over 3.2 million funded accounts. | ||
==Consumer impact summary== | ==Consumer impact summary== | ||
{{ | {{Ph-C-CIS}} | ||
The platform automatically sends your information to your local government, however they only display your profits and losses in their sloppy web interface (which the Spanish government requires you to declare yearly) unless you join their [https://www.etoro.com/about/club/ eToro Club]. If you don't join, they don't let you download the .csv file containing every transaction, and you have to go through potentially hundreds of pages copying and pasting every transaction separately.<!-- Needs to be rewritten. -Sojourna --> | |||
==Incidents== | ==Incidents== | ||
{{ | This is a list of all consumer protection incidents this company is involved in. Any incidents not mentioned here can be found in the [[:Category:{{FULLPAGENAME}}|{{PAGENAME}} category]]. | ||
===Leveraged crypto position closures (''2021'')=== | |||
On 8 January 2021, eToro notified its European customers that "due to exceptional market volatility within the crypto markets", margin positions for all leveraged crypto positions must be closed and turned into non-leveraged. Customers were cautioned that non-compliance would result in position closures within four hours.<ref>{{Cite web |last=Hirtenstein |first=Anna |title=Online Platform eToro Called in Leveraged Crypto Trades When Bitcoin Price Peaked |url=https://www.wsj.com/articles/online-platform-etoro-called-in-leveraged-crypto-trades-when-bitcoin-price-peaked-11610389892 |url-access=subscription |website=The Wall Street Journal |date=11 Jan 2021 |access-date=15 Mar 2025 |url-status=live |archive-url=http://web.archive.org/web/20210112105703/https://www.wsj.com/articles/online-platform-etoro-called-in-leveraged-crypto-trades-when-bitcoin-price-peaked-11610389892 |archive-date=12 Jan 2021}}</ref> | |||
===Closure of customer positions in Magnit shares (''2022'')=== | |||
On 2 March 2022, eToro closed customers' positions in Magnit shares at $0.01 a share, paying out customers. Before the {{Wplink|2022 Russian invasion of Ukraine|Russian invasion of Ukraine in February 2022}}, Magnit shares were worth $14.20 a share.<ref>{{Cite web |last1=Wells |first1=Charlie |last2=Gyftopoulou |first2=Loukia |title=Russian Stock Dumped for 1 Cent Shocks Retail Investors on EToro |url=https://www.bloomberg.com/news/articles/2022-03-05/russia-stock-market-controversy-etoro-blindsides-traders-with-magnit-sale |url-access=subscription |website=Bloomberg |date=5 March 2022 |access-date=26 Feb 2026 |url-status=live |archive-url=http://web.archive.org/web/20220306001651/https://www.bloomberg.com/news/articles/2022-03-05/russia-stock-market-controversy-etoro-blindsides-traders-with-magnit-sale |archive-date=6 Mar 2022}}</ref><ref>{{Cite web |last=Paz |first=Javier |title=EToro Clients Up In Arms Over Forced Exit From Russian Investments |url=https://www.forbes.com/sites/javierpaz/2022/03/04/etoro-clients-up-in-arms-over-forced-exit-from-russian-investments/?sh=59053f2d1f8b |website=Forbes |date=4 Mar 2022 |access-date=26 Feb 2026 |url-status=live |archive-url=http://web.archive.org/web/20220308052439/https://www.forbes.com/sites/javierpaz/2022/03/04/etoro-clients-up-in-arms-over-forced-exit-from-russian-investments/?sh=98cf5c51f8b1 |archive-date=8 Mar 2022}}</ref> | |||
===False advertising in Italy (''2023'')=== | |||
In 2023, the Italian Competition Authority imposed a fine of €1.3 million on eToro for misleading advertising. The Authority concluded that eToro's Italian website promoted zero-commission share trading and did not disclose multiple costs and financial risks, including currency exchange rate fluctuations and functional limits on clients' rights. Such non-disclosures induced customers to act in ways they would not have acted, in violation of Articles 20, 21, and 22 of the Italian Consumer Code.<ref>{{Cite web |author= |title=PS12313 - Italian Competition Authority: eToro fined 1.3 million euro for misleading advertising |url=https://en.agcm.it/en/media/press-releases/2023/7/PS12313 |website=AGCM |date=17 Jul 2023 |access-date=15 Mar 2025 |url-status=live |archive-url=https://ghostarchive.org/archive/fPDPn |archive-date=27 Feb 2026}}</ref><ref>{{Cite web |last=Pollina |first=Elvira |title=Italy antitrust body fines eToro for misleading consumers |url=https://www.reuters.com/business/italy-antitrust-body-fines-etoro-misleading-consumers-2023-07-17/ |website=Reuters |date=17 Jul 2023 |access-date=15 Mar 2025 |url-status=live |archive-url=http://web.archive.org/web/20230718194145/https://www.reuters.com/business/italy-antitrust-body-fines-etoro-misleading-consumers-2023-07-17/ |archive-date=18 Jul 2023}}</ref> | |||
==Products== | ==Products== | ||
{{ | {{Ph-C-P}} | ||
==See also== | ==See also== | ||
{{ | {{Ph-C-SA}} | ||
==References== | ==References== | ||
{{ | {{Reflist}} | ||
[[Category:{{PAGENAME}}]] | [[Category:{{PAGENAME}}]] | ||
Latest revision as of 00:28, 27 February 2026
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Etoro
| Basic information | |
|---|---|
| Founded | 2007 |
| Legal Structure | Private |
| Industry | Financial |
| Also known as | |
| Official website | https://www.etoro.com |
eToro is a social trading and multi-asset investment company focused on providing financial services. In 2023, the company valuation was $3.5 billion.[1] At the beginning of 2025, the company filed for Nasdaq.[2] In September 2024, eToro had 38 million registered users,[3] and over 3.2 million funded accounts.
Consumer impact summary
[edit | edit source]
The platform automatically sends your information to your local government, however they only display your profits and losses in their sloppy web interface (which the Spanish government requires you to declare yearly) unless you join their eToro Club. If you don't join, they don't let you download the .csv file containing every transaction, and you have to go through potentially hundreds of pages copying and pasting every transaction separately.
Incidents
[edit | edit source]This is a list of all consumer protection incidents this company is involved in. Any incidents not mentioned here can be found in the Etoro category.
Leveraged crypto position closures (2021)
[edit | edit source]On 8 January 2021, eToro notified its European customers that "due to exceptional market volatility within the crypto markets", margin positions for all leveraged crypto positions must be closed and turned into non-leveraged. Customers were cautioned that non-compliance would result in position closures within four hours.[4]
Closure of customer positions in Magnit shares (2022)
[edit | edit source]On 2 March 2022, eToro closed customers' positions in Magnit shares at $0.01 a share, paying out customers. Before the Russian invasion of Ukraine in February 2022, Magnit shares were worth $14.20 a share.[5][6]
False advertising in Italy (2023)
[edit | edit source]In 2023, the Italian Competition Authority imposed a fine of €1.3 million on eToro for misleading advertising. The Authority concluded that eToro's Italian website promoted zero-commission share trading and did not disclose multiple costs and financial risks, including currency exchange rate fluctuations and functional limits on clients' rights. Such non-disclosures induced customers to act in ways they would not have acted, in violation of Articles 20, 21, and 22 of the Italian Consumer Code.[7][8]
Products
[edit | edit source]
See also
[edit | edit source]
References
[edit | edit source]- ↑ Nishant, Niket (21 Mar 2023). "Israel's eToro valued at $3.5 bln in funding round, months after ending SPAC deal". Reuters. Archived from the original on 25 Jun 2024. Retrieved 26 Feb 2026.
- ↑ Nasr, Tony (5 Jan 2025). "eToro statistics 2025: assets under management (AUM), number of users, revenue, & more". Investing the Web. Archived from the original on 13 Oct 2025. Retrieved 15 Mar 2025.
- ↑ "eToro acquires investment app Spaceship in $80M Australia expansion move". Spaceship. 25 Sep 2024. Archived from the original on 1 Oct 2024. Retrieved 26 Feb 2026.
- ↑ Hirtenstein, Anna (11 Jan 2021). "Online Platform eToro Called in Leveraged Crypto Trades When Bitcoin Price Peaked". The Wall Street Journal. Archived from the original on 12 Jan 2021. Retrieved 15 Mar 2025.
- ↑ Wells, Charlie; Gyftopoulou, Loukia (5 March 2022). "Russian Stock Dumped for 1 Cent Shocks Retail Investors on EToro". Bloomberg. Archived from the original on 6 Mar 2022. Retrieved 26 Feb 2026.
- ↑ Paz, Javier (4 Mar 2022). "EToro Clients Up In Arms Over Forced Exit From Russian Investments". Forbes. Archived from the original on 8 Mar 2022. Retrieved 26 Feb 2026.
- ↑ "PS12313 - Italian Competition Authority: eToro fined 1.3 million euro for misleading advertising". AGCM. 17 Jul 2023. Archived from the original on 27 Feb 2026. Retrieved 15 Mar 2025.
- ↑ Pollina, Elvira (17 Jul 2023). "Italy antitrust body fines eToro for misleading consumers". Reuters. Archived from the original on 18 Jul 2023. Retrieved 15 Mar 2025.