Quick Answer 🔍How many people use eToro in 2023?
eToro has 26.9 million registered users.
How many people use eToro in 2023?
We will be answering this question along with more regarding this unique social trading platform.
Founded in January 2007 in Tel Aviv-Yafo, Israel, eToro is also registered in the United States, Australia, and the United Kingdom.
What is eToro?
It is a social trading platform, but there’s more to it than that.
Headquartered in Cyprus of Central Israel, it’s where social and investment trading merges into one platform.
One of the benefits of using eToro is that it allows traders to copy veteran traders and/or to get exclusive perks for sharing their trading strategies.
Furthermore, it’s categorized as a multinational social trading and multi asset investment service focused on copy trading and financial services.
How Many People Use eToro in 2023?
From 2012 to 2021, eToro achieved 26.9 million registered users.
It’s now considered one of the largest global online trading platforms.
It’s most popular in Europe, but since 2009, it’s been operating in the United States.
Moreover, it’s become the most downloaded online trading mobile app in the United Kingdom.
According to the eToro website, the company celebrated its 20 million user milestone in March 2021.
Since then, it’s obviously gained some steam.
The company is excited to grow and celebrate their next 20 million users, for a total of 40 million users.
While they have a way to go, with growth between 2012 and 2021, it’s highly possible.
How Does eToro Work?
You can interact on eToro in two ways.
You can either buy and sell stocks, or you can trade stock price movements through Contracts for Difference (CDFs).
CDFs allow you to trade in both directions while using leverage to boost exposure.
While there is more to it than a brief description of how it works, eToro has tutorials and training on the website for registered members to learn how to trade.
It’s suitable for beginners to veteran traders and investors.
eToro Demographics: Who Are the Users of eToro?
When you’re researching eToro usage statistics, you come across some interesting figures, facts, and statistics.
That said, let’s cover eToro’s user demographics.
First, coming from the eToro website, the average user is 34 years old.
Also, their average users are made up of mostly full-time investors and traders (11%), computer and IT professionals (10%), and sales and marketing pros (7%).
As mentioned, the bulk of its users are from Europe (69%), but the Asia-Pacific (18%) region is right behind Europe.
Next, its users are in the Americas (8%) (including the U.S.), Africa, and the Middle East, where it accounts for 5% of its users.
Currently, this social trading platform has users spanning across 100 countries across the globe.
English is the predominant language on the platform, making up almost 50% of its active users.
Other languages include German, French, Spanish, and Italian, respectively.
What Are the Most Popular Investments and Trades on eToro?
The eToro website offers a lot of information, so we could get a lot from that site.
As we said, researching eToro users took us in many reliable and reputable directions.
According to the website, its users have diverse portfolios including trading across cryptocurrencies, stocks, and commodities.
The most popular trades on eToro include:
- Cryptocurrency like Bitcoin
- Stocks like Apple, Tesla, and Microsoft
- The most traded index is the NASDAQ100 (from the eToro site)
- Oil is the most-traded commodity
When they call this platform a multi asset investment platform, they mean it.
What Does eToro Look Like in Revenue?
In 2021, eToro reported that they generated $1.2 billion for the whole year.
That’s a 105% rise year-on-year from $600 million in revenue in 2020.
Operational expenses resulted in a negative net income for eToro that accounted for $84 million in net loss.
That doesn’t mean they are running out of steam. This often happens with companies in this industry. It will get sorted as eToro continues to grow and expand.
In fact, eToro may close a reverse merger deal with U.S. SPAC Fintech Acquisition Corp this year.
That said, what looks like a setback could mean a coming boom for the company.
In 2021, eToro also lowered its going public through SPAC valuation to $8.8 billion from its prior $10.4 billion.
This is due to changes in market conditions and that SPAC is facing some impediments in progress.
Overall, eToro’s revenue essentially doubled between 2020 and 2021. We can hardly wait to see what’s in store for 2022.
Other than its sharp increase in operational expenses, eToro is winning.
Who Are eToro’s Competitors?
Any trading app or platform is basically eToro’s competitor, but they have some specific competitors we will mention.
Robinhood was still the leader in the trading app industry, but eToro is coming up fast, currently in second place.
Naturally, E-Trade, Fidelity Investments, TD Ameritrade, Cash App, Charles Schwab, and other well-known trading apps/platforms are in competition with eToro.
However, Robinhood is the only one ahead of this company.
Is eToro a FinTech Business?
FinTech is short for Financial Technology, so any business that’s in the business of automating financial services like eToro is categorized as a fintech business.
Trading and investment apps are only a small sector in the FinTech category.
Lenders, banks, trading apps, mobile apps, and other technologies that automate finances for consumers and businesses are FinTech businesses.
In other words, it’s a relatively broad category of businesses that merge financial services and technology. In short, eToro is a FinTech business.
After reading this, you also have the scoop on its user base, popular trading activities, and its revenue.
You should understand better what eToro is and that it’s a leader in the industry just below Robinhood. Therefore, it’s in good company with its competitors.
Now you know that the eToro user count is at least 26.9 million, which is its recorded registered user base.
That’s getting close to 30 million, so they could achieve that very soon.