{{Short description|Multi-asset brokerage company}} {{Lowercase title}} {{Use dmy dates|date=December 2024}} {{Infobox company | name = eToro Group Ltd. | logo = EToro logo.svg | logo_size = 160px | type = Public | traded_as = {{NASDAQ|ETOR}} | industry = Financial services<br />Investing online<br />Social investment | founded = {{Start date and age|2007}} | founders = {{Unbulleted list| Yoni Assia| Ronen Assia| David Ring}} | hq_location = Bnei Brak, Israel | area_served = Worldwide | key_people = {{nowrap|Yoni Assia (Chairman & CEO)<br/>Ronen Assia (executive director)<br/>Meron Shani (CFO)<br/>Hedva Ber (Global COO & Deputy CEO)<br/>Eddy Shalev (director)}} | products = Electronic trading platform, stocks, copy trading, social trading, ISA, futures trading | services = Investment management, stockbroker, electronic trading platform | revenue = {{increase}} US$13.837 billion (2025) | net_income = {{increase}} US$215 million (2025) | assets = {{increase}} US$1.791 billion (2025) | equity = {{increase}} US$1.394 billion (2025) | num_employees = 1,520 (2025) | website = {{URL|https://www.etoro.com/}} | footnotes = <ref name=20F>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001493318/000121390026022034/ea0278371-20f_etoro.htm | title=eToro Group Ltd. Form 20-F 2025 Annual Report | publisher=United States Securities and Exchange Commission | date=March 2, 2026}}</ref><ref name=F1>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1493318/000121390025039451/ea0223534-11.htm | title=eToro Group Ltd. Form F-1 Registration Statement | publisher=United States Securities and Exchange Commission | date=May 5, 2025}}</ref> | owner = Spark Capital II (13.92%)<BR>Yoni Assia (9.34%)<BR>BRM Group (8.71%)<BR>Andalusian SPV III (8.44%)<BR>CM Equities SP (6.34%)<BR>Ronen Assia (3.42%)<BR>Eddy Shalev (1.68%) }} 250px|thumb|right|Yoni (left) and Ronen Assia, and their father, David Assia, former chairman of eToro '''eToro Group Ltd.''' is an Israeli company that operates an electronic trading platform and social trading system. The company is organized in the British Virgin Islands and headquartered in Bnei Brak, with a United States headquarters in Hoboken, New Jersey.<ref name=20F/>
eToro was founded in 2007 in Tel Aviv by Yoni Assia, Ronen Assia, and David Ring. The company and its affiliates operate in the United Kingdom, Cyprus, Belgium, Germany, Denmark, the United States, Australia, Abu Dhabi, Singapore, Seychelles, Malta and Gibraltar.<ref name=20F/>
As of December 31, 2025, eToro had approximately 3.81 million funded accounts in 75 countries.<ref name=20F/> As of December 31, 2025, eToro had $18.5 billion of assets under administration, representing cash and securities in customer accounts.<ref name=20F/>
The company sells CFDs in Europe and may profit from losses by customers.<ref name=pushed/>
==History== eToro was founded as RetailFX in 2007<ref>{{Cite web |last=Levy |first=Dotan |date=28 October 2019 |title=Social Trading Company eToro Expands Offices |url=https://www.calcalistech.com/ctech/articles/0,7340,L-3772561,00.html|access-date=2019-11-02 |website=CTECH}}</ref> in Tel Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring.<ref>{{Cite web |last=Rust |first=Donnie |date=7 November 2013 |title=eToro. Seriously? Is It That Easy? |url=http://www.littlegatepublishing.com/2013/11/etoro/ |url-status=dead |archive-url=https://web.archive.org/web/20140323080929/http://www.littlegatepublishing.com/2013/11/etoro/ |archive-date=23 March 2014 |access-date=10 May 2016 |publisher=Littlegate Publishing}}</ref><ref name=pushed/> In 2010, the firm released the eToro OpenBook social investment platform. This included the copy trading feature, enabling users to replicate the trading strategies of top-performing investors automatically.<ref>{{Cite web |last=Greenberg |first=Michael |date=12 July 2010 |title=eToro launches its own Forex Social Community – OpenBook |url=http://www.financemagnates.com/forex/brokers/etoro-launches-its-own-forex-social-community-openbook/ |access-date=13 May 2015 |publisher=Finance Magnates}}</ref> Later that year, the firm released an Android app.<ref>{{Cite web |last=Greenberg |first=Michael |date=7 October 2010 |title=eToro's OpenBook goes mobile |url=http://www.financemagnates.com/forex/brokers/etoros-openbook-goes-mobile/ |access-date=13 May 2015}}</ref>
In 2013, eToro expanded its product range, allowing investments in stocks and CFDs alongside commodities and currencies, with an initial offering of 110 stocks that later grew to over 3,000 financial products.<ref>{{Cite web |last=Finberg |first=Ron |date=25 July 2013 |title=eToro Adds Stocks on its Social Trading Network as Operations Evolve |url=http://www.financemagnates.com/forex/brokers/etoro-adds-stocks-on-its-social-trading-network-as-operations-evolve/ |access-date=13 May 2015 |publisher=Finance Magnates}}</ref><ref>{{Cite web |date=27 April 2022 |title=A Beginner's Guide to Trading with eToro |url=https://alphanewscall.com/2022/04/27/a-beginners-guide-to-trading-with-etoro/ |access-date=2022-05-17 |website=AlphaNewsCall |language=en-US}}</ref> In May 2013, it was authorized to provide services in the UK under its eToro UK subsidiary.<ref name="fca">{{Cite press release | url=https://www.prnewswire.com/news-releases/etoro-social-investment-network-receives-fca-license-207324081.html | title=eToro Social Investment Network Receives FCA License | publisher=PR Newswire | date=May 14, 2013}}</ref><ref name=":1">{{Cite news |last=Reddan |first=Fiona |title=Looking to boost your income? eToro is looking for Irish freelance fund managers |url=https://www.irishtimes.com/business/personal-finance/looking-to-boost-your-income-etoro-is-looking-for-irish-freelance-fund-managers-1.3534865 |access-date=2019-11-02 |newspaper=The Irish Times |language=en}}</ref> By 2014, some referred to eToro as "Israel's biggest export."<ref name=toi14/>
In January 2014, eToro became one of the first major stockbrokers to allow for trading in Bitcoin.<ref>{{Cite web |title=Breaking: eToro Enters the US Market by Offering Cryptocurrency Trading |url=https://www.financemagnates.com/forex/brokers/breaking-etoro-enters-us-market-offering-cryptocurrency-trading/ |work=Finance Magnates |date=16 May 2018}}</ref><ref>{{Cite news | url=https://www.uktech.news/news/etoro-launches-bitcoin-trade-20140113 | title=eToro launches Bitcoin trade | first=Vidhi | last=Doshi | work=UK Tech News | date=13 January 2014}}</ref>
In November 2014, it introduced currency futures investments for the Russian ruble and Chinese yuan.<ref name=toi14>{{cite news | url=https://www.timesofisrael.com/etoro-courts-russian-chinese-currency-traders-and-investors/| title=eToro courts Russian, Chinese currency traders, and investors | last=Shaman | first=David | work=The Times of Israel | date=23 November 2014}}</ref>
In December 2017, eToro partnered with CoinDash to develop blockchain-based social trading.<ref>{{Cite news |date=14 December 2017 |title=eToro Partners CoinDash to Develop Blockchain-Based Social Trading |language=en-US |work=Finance Magnates |url=https://www.financemagnates.com/forex/brokers/etoro-partners-coindash-develop-blockchain-based-social-trading/ |access-date=2018-05-14}}</ref> The following year, it raised $100 million in private funding,<ref>{{Cite web |title=eToro raises $100 million from investors |date=27 March 2018|url=https://thecashdiaries.com/2018/03/27/etoro-raises-100-from-investors/ |access-date=2018-03-27 |publisher=TheCashDiaries |archive-date=27 March 2018 |archive-url=https://web.archive.org/web/20180327090055/https://thecashdiaries.com/2018/03/27/etoro-raises-100-from-investors/ |url-status=dead }}</ref> bringing total investment to over $162 million from various firms.<ref name=":7">{{Cite web|last=Orbach|first=Meir|date=8 December 2020|title=eToro joins Israeli unicorn club by tripling valuation in two years to reach $2.5 billion|url=https://www.calcalistech.com/ctech/articles/0,7340,L-3879974,00.html|access-date=2021-09-10|website=CTECH}}</ref>
In June 2018, eToro set up a trading desk in London to cater for institutional investors looking to invest in crypto.<ref>{{Cite news |url=https://www.businessinsider.com/etoro-crypto-trading-desk-otc-hedge-funds-banks-2018-6 |title=A trading company with 10 million customers is setting up a crypto desk for hedge funds and banks | work=Business Insider |last=Williams-Grut |first=Oscar | date=June 14, 2018}}</ref>
In November 2018, eToro launched cryptocurrency wallets for Android and iOS.<ref>{{Cite news |url=https://thenextweb.com/hardfork/2018/11/08/etoro-cryptocurrency-wallet-trading/ |title=eToro rolls out its cryptocurrency wallet for Android and iOS | work=The Next Web |date=8 November 2018}}</ref>
In March 2019, eToro acquired Danish blockchain company Firmo.<ref>{{Cite news |last=Manuel Baigorri, Alastair Marsh |title=Trading Platform EToro to Buy Danish Blockchain Company Firmo |url=https://www.bloomberg.com/news/articles/2019-03-25/trading-platform-etoro-is-said-close-to-buying-denmark-s-firmo |access-date=2019-11-02 |newspaper=Bloomberg|date= 25 March 2019 }}</ref><ref>{{Cite web |title=Social investment platform eToro acquires smart contract startup Firmo |url=https://techcrunch.com/2019/03/25/social-investment-platform-etoro-acquires-smart-contract-startup-firmo/ |access-date=2019-11-02 |website=TechCrunch |date=25 March 2019 |language=en-US |archive-date= 17 March 2020 |archive-url=https://web.archive.org/web/20200317193724/http://social.techcrunch.com/2019/03/25/social-investment-platform-etoro-acquires-smart-contract-startup-firmo/ |url-status=live }}</ref> In October 2019, eToro released a sentiment-based cryptocurrency portfolio that uses AI to assess Twitter's real-time sentiment on digital assets.<ref>{{Cite web |last=Ballentine |first=Claire |date=15 October 2019 |title=Crypto Portfolio Will Analyze Twitter to Gauge Trader Sentiment |url=https://www.bloomberg.com/news/articles/2019-10-15/crypto-portfolio-will-analyze-twitter-to-gauge-trader-sentiment |access-date=2019-12-05 |website=www.bloomberg.com}}</ref> Shortly after, in November 2019, eToro acquired Delta, a crypto portfolio tracking app based in Belgium.<ref>{{Cite web |title=Investment platform eToro acquires crypto portfolio tracker app Delta |url=https://techcrunch.com/2019/11/06/investment-platform-etoro-acquires-crypto-portfolio-tracker-app-delta/ |access-date=2019-12-05 |website=TechCrunch |date=6 November 2019}}</ref><ref>{{Cite web |date=8 November 2019 |title=Currency Revolution Series: What Does M&A Deal of eToro and Delta Mean For? |url=https://www.econotimes.com/Currency-Revolution-Series-What-Does-MA-Deal-of-eToro-and-Delta-Mean-For-1567404 |access-date=2019-12-05 |website=EconoTimes}}</ref> In March 2019, the company launched its cryptocurrency trading platform and standalone cryptocurrency wallet for US users.<ref>{{Cite web|title=EToro bringing crypto trading and wallet to the US |url=https://techcrunch.com/2019/03/07/etoro-bringing-crypto-trading-and-wallet-to-the-us/ |access-date=2019-12-05 |website=TechCrunch |date=7 March 2019}}</ref><ref>{{Cite web |last=Digalaki |first=Eleni |title=eToro has launched in the US |url=https://www.businessinsider.com/etoro-launches-in-us-2019-3|access-date=2019-12-05 |website=Business Insider |archive-date=13 June 2021 |archive-url=https://web.archive.org/web/20210613201714/https://www.businessinsider.com/etoro-launches-in-us-2019-3|url-status=dead}}</ref><ref>{{Cite news |date=2 October 2020 |title=A 32-Year-Old Trader Is Driving 21,000 Amateur Stock Investors |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2020-10-02/robinhood-versus-etoro-brokerage-showdown-looming-in-stock-market-investing |access-date=2020-10-19}}</ref>
In 2020, eToro acquired Marq Millions, its UK e-money division, rebranding it as eToro Money,<ref>{{cite web |title=eToro Acquires Marq Millions to Support Debit Card Launch |url=https://www.financemagnates.com/forex/brokers/etoro-acquires-marq-millions-to-support-debit-card-launch/ |access-date=2021-01-11|website=financemagnates.com|date= 30 July 2020}}</ref><ref>{{Cite web |title=With Robinhood's UK launch delayed, eToro to bring out UK debit card following acquisition |url=https://techcrunch.com/2020/07/29/with-robinhoods-uk-launch-delayed-etoro-to-bring-out-uk-debit-card-following-acquisition/ |access-date=2022-04-07 |website=TechCrunch |date= 29 July 2020}}</ref> and obtained Visa's primary membership along with an electronic money institution (EMI) license from the UK's Financial Conduct Authority.<ref>{{cite web |title=eToro plans debit card launch ahead of rival's entry to UK |url=https://www.siliconrepublic.com/business/etoro-debit-card-instant-cash-in-cash-out|access-date=2021-01-11 |website=siliconrepublic.com |date= 29 July 2020 }}</ref> In December 2021, it launched the eToro Money debit card for UK residents.<ref>{{cite web|title=eToro is launching its first debit card in the UK |url=https://www.businessinsider.com/etoro-launches-debit-card-in-uk-2020-7 |access-date=2021-01-11 |website=businessinsider.com|archive-date=4 October 2022|archive-url=https://web.archive.org/web/20221004062626/https://www.businessinsider.com/etoro-launches-debit-card-in-uk-2020-7 |url-status=dead}}</ref> In 2021, the company reported operating in 140 countries<ref>{{Cite web |title=Sogar Aktienhandel zum Nulltarif |url=https://www.platow.de/archiv/der-platow-brief/der-platow-brief-ausgabe-vom-12.08.2019/2019/08/09/sogar-aktienhandel-zum-nulltarif/|access-date=2019-11-02 |website=www.platow.de |date=9 August 2019 |language=de}}</ref><ref>{{Cite web|date=18 June 2019 |title=Facebook announces launch of Libra cryptocurrency to take on bitcoin |url=https://www.express.co.uk/finance/city/1141853/facebook-libra-cryptocurrency-bitcoin-mark-zuckerberg-crv |access-date=2019-11-02 |website=Express.co.uk}}</ref> and having 20 million users.<ref name=":5">{{Cite web |last=Chatenay |first=Victor |title=Trading app eToro goes public via $10.4 billion SPAC deal |url=https://www.businessinsider.com/etoro-looking-toward-us-expansion-with-spac-deal-2021-3 |access-date=2021-06-01 |website=Business Insider |language=en-US |archive-date=21 July 2021 |archive-url=https://web.archive.org/web/20210721132519/https://www.businessinsider.com/etoro-looking-toward-us-expansion-with-spac-deal-2021-3|url-status=dead}}</ref>
In January 2021, eToro informed its European clients that "due to extreme market volatility in the crypto markets," margin positions for all leveraged crypto positions needed to be converted into non-leveraged. Customers were warned that failure to comply would lead to position closures within four hours.<ref name=":4">{{Cite news |url=https://www.wsj.com/articles/online-platform-etoro-called-in-leveraged-crypto-trades-when-bitcoin-price-peaked-11610389892 |last=Hirtenstein |first=Anna |title=Online Platform eToro Called in Leveraged Crypto Trades When Bitcoin Price Peaked |work=The Wall Street Journal |date=11 January 2021 | url-access=subscription |issn=0099-9660}}</ref><ref>{{Cite news |title=Trading App Offers $500 to Lure Investors to Open $5,000 Crypto Accounts |url=https://www.bloomberg.com/news/articles/2021-01-12/bitcoin-btc-usd-buying-etoro-offers-500-reward-to-new-crypto-investors-in-us |work=Bloomberg News |date=12 January 2021 | url-access=subscription}}</ref>
In July 2021, ''The Times of Israel'' exposed dozens of cases of staffing connections between eToro and Israel's largely fraudulent binary options industry.<ref name=pushed/> For example, Shmuel Hauser, former chairman of the Israel Securities Authority (ISA), joined eToro as an advisory board member after overseeing regulatory decisions that impacted the company. During Hauser's ISA tenure from 2011 to 2017, he agreed to modify a Knesset bill that would have restricted eToro's operations, which allowed eToro to continue expanding internationally. Although eToro did not engage in binary options, a sector under heavy scrutiny for fraudulent practices, the modified bill exempted companies like eToro from stricter regulations. In the same year, he resigned from his post at ISA amidst several high-profile anti-corruption scandals. After leaving the ISA, Hauser began advising eToro on regulatory issues worldwide. In 2021, Hauser became an advisory board member at eToro.<ref name=pushed/> At the same year, eToro announced that it had appointed Hedva Ber, former supervisor of banks at the Bank of Israel, in 2021 was appointed deputy CEO and global COO.<ref name=pushed/>
In October 2021, ''The Times of Israel'' covered the story of Nir Barkat, Likud MK and former mayor of Jerusalem. Barkat was linked to eToro in the "Pandora Papers", revealing he held shares in the company, which is registered in the Virgin Islands despite most operations being based in Israel. While mayor, Barkat claimed his assets were under a blind trust, but leaks indicated they remained in his name until he transferred them to his brother upon joining the Knesset in 2019, contrary to Knesset Ethics Committee guidelines. In 2019, Barkat's net worth was valued at $139 million.<ref name=pushed>{{cite news | url=https://www.timesofisrael.com/ex-securities-regulator-now-works-for-fintech-firm-that-pushed-him-to-weaken-law/ | title=Ex-securities regulator now works for fintech firm that pushed him to weaken law | last1=Weinglass | first1=Simona | last2=Solomon | first2=Shoshanna | work=The Times of Israel | date=1 July 2021}}</ref><ref>{{cite news | url=https://www.timesofisrael.com/former-justice-minister-billionaire-among-israelis-named-in-pandora-papers/ | title=Former justice minister, billionaire among Israelis named in 'Pandora Papers' | work=The Times of Israel | date= 4 October 2021}}</ref>
In March 2022, eToro liquidated customer positions in Magnit stock (MGNTL.L), compensating customers at $0.01 per share. Prior to the 2022 Russian Invasion of Ukraine, Magnit shares were valued at $14.20 per share.<ref>{{cite news |last1=Hussain |first1=Ali |title=My Ryanair shares were flying high — then someone sold them |url=https://www.thetimes.com/article/my-ryanair-shares-were-flying-high-then-someone-sold-them-n8k9d8r5n |access-date=8 March 2022 |work=The Times | date=18 September 2021}}</ref><ref>{{cite news |url=https://www.bloomberg.com/news/articles/2022-03-05/russia-stock-market-controversy-etoro-blindsides-traders-with-magnit-sale |last1=Wells |first1=Charlie |title=Russian Stock Dumped for 1 Cent Shocks Retail Investors on EToro | work=Bloomberg News |date=5 March 2022 | url-access=subscription}}</ref><ref>{{cite news | 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 |access-date=8 March 2022 | work=Forbes | date=4 March 2022}}</ref> Investors holding Russian American (ADRs) and global depository receipts (GDRs) argued that the forced closure was unlawful and initiated a petition, which quickly garnered a thousand signatures.<ref>{{cite news | url=https://www.financemagnates.com/forex/etoro-announced-forced-liquidation-in-magnit-holdings-petition-launched-against-the-move/ | title=eToro Announced Forced Liquidation in Magnit Holdings, Petition Launched against the Move | last=Williamson | first=Matti | work=Finance Magnates | date=6 March 2022}}</ref><ref>{{cite news | url=https://www.bloomberg.com/news/articles/2022-03-05/russia-stock-market-controversy-etoro-blindsides-traders-with-magnit-sale | title=Russian Stock Dumped for 1 Cent Shocks Retail Investors on EToro | last1=Wells | first1=Charlie | last2=Gyftopoulou | first2=Loukia | work=Bloomberg News | date=5 March 2022 | url-access=subscription}}</ref> Following intense backlash, petitions, and complaints from users who saw their holdings forcefully closed without consent, the brokerage reversed course and offered a one-time reimbursement.<ref>{{cite news | url=https://www.bloomberg.com/news/articles/2022-03-07/etoro-reimburses-clients-after-dumping-magnit-at-a-penny-a-share |last1=Gyftopoulou | first1=Loukia | title=Robinhood Rival EToro Reimburses Users After Dumping Russia's Magnit | work=Bloomberg News | date=7 March 2022 | url-access=subscription}}</ref>
In June 2022, eToro (Europe) Ltd, a European subsidiary, was registered with the Autorité des marchés financiers (AMF) as a digital asset service provider (DASP).<ref>{{Cite news |url=https://www.financemagnates.com/forex/etoro-opens-up-french-users-to-crypto-assets-with-dasp-registration/ |last=Oladipupo |first=Solomon |title=eToro Opens Up French Users to Crypto Assets with DASP Registration |website=Finance Magnates |date=2022-06-10 }}</ref> In September 2023, eToro obtained its registration as a Crypto Asset Service Provider (CASP) with the CySEC.<ref>{{Cite news | url=https://www.boursier.com/opcvm/actualites/generales/etoro-recoit-l-enregistrement-de-crypto-asset-service-provider-casp-de-la-cysec-909593.html |title=eToro reçoit l'enregistrement de Crypto Asset Service Provider ("CASP") de la CySEC | trans-title=eToro receives Crypto Asset Service Provider ("CASP") registration from CySEC | last=Chaunu |first=Hector |language=fr}}</ref>
In July 2022, eToro laid off approximately 100 employees, or around 6% of its workforce.<ref>{{cite web| url=https://fxnewsgroup.com/forex-news/retail-forex/etoro-lays-off-100-in-wake-of-failed-spac-ipo/ | title=eToro lays off 100 in wake of failed SPAC IPO | date=6 July 2022| publisher=FX News Group | access-date=9 November 2024}}</ref>
In August 2022, eToro signed a definitive agreement to acquire Gatsby, a fintech startup specializing in options and stock trading, for $50 million in cash and stock.<ref>{{Cite web |last=Azevedo |first=Mary Ann |date=17 August 2022 |title=eToro gets the great Gatsby on its horns for $50M |url=https://techcrunch.com/2022/08/17/fintech-etoro-to-acquire-startup-gatsby-for-50m/ |access-date=2022-10-16 |website=TechCrunch}}</ref> In April 2023, the company announced a partnership with Twitter to allow users to click on ticker symbols preceded by a dollar sign, redirecting them to an eToro trading page.<ref>{{cite web| url=https://www.timesofisrael.com/twitter-partners-with-israeli-high-risk-trading-platform-etoro/| title=Twitter partners with Israeli high-risk trading platform eToro| last=Weinglass| first=Simona| date=15 April 2023| publisher=The Times of Israel| access-date=9 November 2024}}</ref>
In November 2022, eToro purchased a Lisbon-based portfolio management tools provider, Bullsheet, for an undisclosed sum.<ref>{{Cite web |date=2022-10-27 |title=No sheet: eToro acquires portfolio management provider Bullsheet |url=https://tech.eu/2022/10/27/no-sheet-etoro-acquires-portfolio-management-provider-bullsheet/ |access-date=2025-03-20 |website=Tech.eu}}</ref>
In April 2023, eToro became a partner for X's cashtags, providing real-time asset prices for stocks, exchange-traded funds (ETFs), commodities and cryptocurrencies.<ref>{{Cite web |date=2024-06-12 |title=eToro and X Partner as the Social Media Platform Handled 1.4 Billion Posts on Trading |url=https://www.financemagnates.com/forex/etoro-and-x-partner-as-the-social-media-platform-handled-14-billion-posts-on-trading/ |access-date=2025-03-20 |website=Financial and Business News |language=en}}</ref><ref>{{Cite web |date=2023-04-13 |title=With Key Twitter Partnership, eToro is Now Literally in Social Trading |url=https://www.financemagnates.com/cryptocurrency/twitter-goes-deeper-into-trading-with-cashtags/ |access-date=2025-03-20 |website=Financial and Business News |language=en}}</ref>
In July 2023, eToro secured approval from the Bank of Spain as a virtual currency exchange and electronic wallet custody service provider.<ref>{{Cite web |url=https://www.europapress.es/economia/finanzas-00340/noticia-banco-espana-registra-etoro-proveedor-criptoactivos-20230728131325.html |title=El Banco de España registra a eToro como proveedor de criptoactivos |website=www.europapress.es |date=2023-07-28}}</ref>
In October 2023, eToro announced partnership with iShares by BlackRock on the US Exchange-Traded Fund (ETF) courses in equities and bonds.<ref>{{Cite web |date=2024-03-05 |title=eToro and BlackRock team to provide iShares access to retail investors |url=https://www.proactiveinvestors.co.uk/companies/news/1042392/etoro-and-blackrock-team-to-provide-ishares-access-to-retail-investors-1042392.html |access-date=2025-07-26 |website=Proactiveinvestors UK |language=en}}</ref>
In November 2023, the company received an approval from Financial Services Regulatory Authority (FSRA) of ADGM<ref>{{Cite web |date=2023-11-27 |title=eToro recognises Abu Dhabi as a rising fintech hub, receives approval from ADGM to operate in the UAE |url=https://www.adgm.com/media/announcements/etoro-receives-approval-from-adgm-to-operate-in-the-uae |access-date=2025-03-04 |website=www.adgm.com |language=en}}</ref> to launch in the UAE and added ISA offering.<ref>{{Cite web |url=https://www.leaprate.com/news/etoro-granted-adgm-license-to-investments-in-the-uae/ |last=Anderson |first=Elizabeth |title=eToro granted ADGM license to investments in the UAE |website=LeapRate |date=2023-11-28}}</ref>
In 2024, Yoni Assia disclosed eToro’s acquisition of a content automation company Deep.<ref>{{Cite web |last=Sikder |first=Tareq |date=2024-02-26 |title=eToro Considers Public Listing |url=https://www.financemagnates.com/forex/etoro-considers-public-listing-after-scrapping-spac-merger-plans/ |access-date=2025-07-26 |website=Finance Magnates |language=en}}</ref>
In March 2024, the company announced that it is considering New York or London as potential venues for an initial public offering (IPO).<ref>{{Cite news |date=10 March 2024 |title=Israel's eToro considers New York IPO, seeks $3.5 bln valuation, FT says |url=https://www.reuters.com/markets/deals/israels-etoro-considers-new-york-ipo-seeks-35-bln-valuation-ft-says-2024-03-10/ |access-date=9 November 2024 |publisher=Reuters}}</ref> In December 2024, eToro hired Goldman Sachs to lead its IPO in the United States, planned for 2025. In January 2025, eToro confidentially filed documents with the U.S. Securities and Exchange Commission (SEC), aiming for a valuation exceeding $5 billion.<ref>{{Cite news |date=23 January 2025 |title=Trading Platform eToro Taps Goldman Sachs As it Plans US IPO |url=https://www.bloomberg.com/news/articles/2024-12-06/trading-platform-etoro-is-said-to-pick-goldman-sachs-for-us-ipo |access-date=2024-12-06 |newspaper=Bloomberg}}</ref><ref>{{Cite news |date=23 January 2025 |title=Retail trading platform eToro files for US IPO and chases $5bn valuation |url=https://www.ft.com/content/0c492c61-a2ba-4314-b970-8753e34647bb |access-date=16 January 2025 |newspaper=Financial Times}}</ref>
In June 2024, eToro announced a financial education partnership with X for the UK, Germany, France, Italy, Spain, the UAE and the US markets.<ref>{{Cite web |last=Gottsegen |first=Gordon |date=2024-06-12 |title=Online broker eToro partners with X to educate investors through social media |url=https://www.morningstar.com/news/marketwatch/20240612332/online-broker-etoro-partners-with-x-to-educate-investors-through-social-media |access-date=2025-03-20 |website=Morningstar, Inc. |language=en}}</ref> The same year, the company launched the eToro Academy.<ref>{{Cite web |date=2024-08-04 |title=איך עובד שוק ההון ומה זה קריפטו? העוקבים של Nas ידעו בקרוב - וואלה כסף |url=https://finance.walla.co.il/item/3682370 |access-date=2025-03-20 |website=וואלה |language=he}}</ref><ref>{{Cite web |last=ומחשבים |first=מערכת אנשים |date=2024-08-05 |title=נאס דיילי ואיטורו ישתפו פעולה וילמדו את הגולשים על פיננסים - |url=https://www.pc.co.il/featured/413726/ |access-date=2025-03-20 |website=אנשים ומחשבים - פורטל חדשות היי-טק, מיחשוב, טלקום, טכנולוגיות |language=he-IL}}</ref><ref>{{Cite web |date=2024-08-13 |title=UAE Retail Investors Split on Who Harbours Financial Education Responsibility, eToro Reveals |url=https://thefintechtimes.com/uae-retail-investors-split-on-who-harbours-financial-education-responsibility-etoro-reveals/ |access-date=2025-03-20 |website=The Fintech Times |language=en-GB}}</ref>
In July 2024, eToro announced a partnership with the London Stock Exchange, aiming to add over 1,000 new UK stocks in the coming months. That month, it also collaborated with Bocconi University and joined the European FS Financial Services Tech Hub. In September 2024, eToro acquired the Australian app Spaceship for nearly $55 million.<ref>{{cite web | url=https://www.financemagnates.com/fintech/etoro-ventures-into-italian-fintech-through-collaboration-with-sda-bocconi/ | title=eToro Ventures into Italian Fintech through Collaboration with SDA Bocconi | last=Sikder | first=Tareq | work=Finance Magnates | date=15 July 2024}}</ref><ref>{{cite news | url=https://www.financemagnates.com/fintech/etoro-to-add-1000-uk-stocks-in-lse-partnership/ | title=eToro to Add 1,000+ UK Stocks in LSE Partnership | last=Chmiel| first=Damien | work=Finance Magnates | date=25 July 2024}}</ref>
In August 2024, eToro partnered with Dubai Financial Market (DFM),<ref>{{Cite web |last=Bandyopadhyay |first=Somshankar |title=DFM seeks to widen investor base with eToro partnership |url=https://www.khaleejtimes.com/business/markets/dfm-seeks-to-widen-investor-base-with-etoro-partnership |access-date=2025-03-20 |website=Khaleej Times |language=en}}</ref> in September 2024 with Deutsche Börse for German stocks listed on the Frankfurt Stock Exchange,<ref>{{Cite web |title=eToro Partners with Deutsche Börse to Expand German Stock Offerings |url=https://www.fazzaco.com/newsdetail/etoro-partners-with-deutsche-b%C3%B6rse-to-expand-german-stock-offerings-344857 |access-date=2025-03-20 |website=www.fazzaco.com}}</ref> in October 2024 with Ark Invest to launch a technology-focused ETF portfolio.<ref name="finmagnates25">{{cite web |title=eToro's 2024 Profits Soared 13x, with Crypto Contributing 38% of Commission Income |last=Shome |first=Arnab |url=https://www.financemagnates.com/fintech/etoros-2024-profits-soared-13x-with-crypto-contributing-96-of-revenue/ |date=25 March 2025|access-date=27 March 2025}}</ref> In November 2024, the company received a license to operate in New York.<ref>{{Cite web |last=Boughedda |first=Sam |date=2024-11-21 |title=eToro Obtains New York License, Announces Launch |url=https://www.leaprate.com/forex/brokers/etoro-obtains-new-york-license-announces-launch/ |access-date=2025-03-20 |website=LeapRate |language=en-US}}</ref>
In February 2025, eToro (Europe) Ltd received a permit from the CySEC to offer crypto services in the EU under the Markets in Crypto-Assets Regulation (MiCA).<ref>{{Cite news |url=https://www.latribune.fr/entreprises-finance/banques-finance/industrie-financiere/cryptos-pourquoi-la-france-pourrait-perdre-des-entreprises-a-cause-du-mica-1019364.html |title=Cryptos : pourquoi la France pourrait perdre des entreprises à cause du MiCA | trans-title=Cryptocurrencies: Why France could lose businesses because of MiCA | first=Maxime | last=Heuze | work=La Tribune |date=2025-02-27 |language=fr}}</ref>
===Financing=== [[File:Yoni Assia at the eToro IPO launch event at Nasdaq on May 15, 2025 01.jpg|thumb|The founder of eToro, Yoni Assia, during the eToro IPO launch event at Nasdaq]]
In 2007, eToro raised $1.7 million in Series A funding from Cubit Investments, Chemi Peres, and other investors. In March 2009, eToro raised $6.3 million in a series B round from BRM Group, Cubit Investments, and others.<ref>{{Cite news | url=https://techcrunch.com/2009/03/31/financial-trading-platform-etoro-secures-63-million-in-series-b-funding/ | title=Financial Trading Platform eToro Secures $6.3 Million In Series B Funding | first=Leena | last=Rao | work=TechCrunch | date=March 31, 2009}}</ref>
In June 2010, eToro raised $2.4 million in a third funding round led by Social Leverage.<ref>{{Cite news |url=https://techcrunch.com/2010/06/08/etoro-adds-2-4-million-to-the-coffers-zynga-for-real-men/ |title=eToro Adds $2.4 Million to the Coffers: "Zynga For Real Men" |last=Arrington |first=Michael | authorlink=Michael Arrington | work=TechCrunch | date=8 June 2010}}</ref><ref>{{Cite news | url=https://en.globes.co.il/en/article-1000565504 | title=Online forex co eToro raises $2.4m | first=Noa | last=Parag | work=Globes | date=8 June 2010}}</ref>
In March 2012, the company raised $15 million in a funding round led by Spark Capital with participation from existing investors BRM, Guy Gamzu and Jonathan Kolber.<ref>{{Cite news |url=https://techcrunch.com/2012/03/13/social-investment-network-etoro-is-picking-up-another-15-million-from-spark-others |last=Lunden |first=Ingrid |title=Social Investment Network eToro Is Picking Up Another $15 Million From Spark, Others | work=TechCrunch |date=13 March 2012}}</ref>
In December 2014, the company raised $27 million from Ping An Insurance and SBT Venture Capital, along with a credit facility from Silicon Valley Bank.<ref>{{Cite news | url=https://www.wsj.com/articles/DJFVW00120141209eac9t2obj | title=EToro Secures $27M to Expand Social Investing to China and Russia | first=Lizette | last=Chapman | work=The Wall Street Journal | date=December 10, 2014 | url-access=subscription}}</ref>
In March 2018, the company raised $100 million at an $800 million valuation in a funding round led by China Minsheng Financial, with SBI Group, Korea Investment Partners and others participating.<ref>{{Cite news |url=https://www.reuters.com/article/us-tech-etoro-fundraising-idUSKBN1GZ15S |title=Israeli social trading firm eToro raises $100 million in private funding | first=Tova | last=Cohen | editor-first=Steven | editor-last=Scheer |work=Reuters |date=23 March 2018}}</ref>
In March 2021, eToro announced plans to go public via a merger with a special-purpose acquisition company (SPAC) backed by former Bancorp CEO Betsy Z. Cohen.<ref name="cnn-spac">{{Cite news | url=https://edition.cnn.com/2021/03/16/investing/etoro-spac-robinhood/ |title=Online trading firm eToro going public in more than $10 billion SPAC deal |last=La Monica|first=Paul | work=CNN |date=16 March 2021}}</ref><ref>{{Cite news |url=https://techcrunch.com/2021/03/16/trading-platform-etoro-to-go-public-via-spac-merger-in-10b-deal/ |title=Trading platform eToro to go public via SPAC merger in $10B deal | first=Mary Ann | last=Azevedo | work=TechCrunch |date=16 March 2021}}</ref><ref>{{Cite news |url=https://www.reuters.com/article/etoro-m-a-fintech-acquisit-int-idUSKBN2B81MQ |last=Hussain |first=Noor Zainab |title=Israel's eToro to go public through $10.4 billion SPAC deal backed by SoftBank, others |work=Reuters |date=16 March 2021}}</ref> However, due to market instability and internal challenges within the SPAC, including "material weaknesses" in its financial controls, the deal was canceled in July 2022.<ref>{{cite news | url=https://www.reuters.com/world/middle-east/israels-etoro-betsy-cohen-backed-spac-end-merger-deal-2022-07-05/ | title=Israel's eToro, Betsy Cohen-backed SPAC end $8.8 billion merger deal | first=Mehnaz | last=Yasmin | editor-first=Vinay | editor-last=Dwivedi | work=Reuters | date=July 5, 2022}}</ref>
In March 2023, the company raised $250 million at a $3.5 billion valuation. Investors included ION Group, Social Leverage, SoftBank and Spark Capital.<ref>{{cite news | url=https://techcrunch.com/2023/03/21/after-calling-off-spac-fintech-etoro-secures-250m-at-a-3-5b-valuation/ |title=eToro secures $250M at a $3.5B valuation after scrapping SPAC, seeing slower growth | first=Mary Ann | last=Azevedo | work=TechCrunch | date=21 March 2023}}</ref><ref>{{Cite news |url=https://www.reuters.com/markets/deals/israels-etoro-valued-35-bln-funding-round-months-after-ending-spac-deal-2023-03-21/ |title=Israel's eToro valued at $3.5 bln in funding round, months after ending SPAC deal | work=Reuters | date=21 March 2023}}</ref>
In May 2025, the company became a public company via an initial public offering.<ref>{{Cite news | last=Bhandari | first=Ateev | title=Israel's eToro valued at $5.6 billion in bumper Nasdaq debut after tariff-driven delays | url=https://www.reuters.com/markets/israeli-trading-platform-etoro-gains-over-34-bumper-nasdaq-debut-2025-05-14/ | work=Reuters | date=2025-05-14}}</ref>
==Marketing campaigns and sponsorships== In 2020, eToro released a high-profile ad starring Alec Baldwin that quickly accumulated 3 million views on YouTube.<ref>{{cite news | url=https://www.smh.com.au/business/markets/sock-puppets-and-lifeline-ads-welcome-to-the-wild-world-of-copy-trading-20201210-p56maf.html | title=Sock puppets and Lifeline ads: Welcome to the wild world of cope trading | last=Danckert| first=Sarah | work=The Sydney Morning Herald | date=12 December 2020}}</ref>
In February 2022, eToro aired its first Super Bowl commercial during Super Bowl LVI, also dubbed the "Crypto Bowl."<ref>{{Cite web |last=Locke |first=Taylor |date=14 February 2022 |title='To the moon': You probably saw the crypto Super Bowl ads—here's what to know before buying in on the hype |url=https://www.cnbc.com/2022/02/14/what-to-know-about-crypto-before-buying-into-super-bowl-ads.html |access-date=2022-04-29 |website=CNBC |language=en}}</ref><ref>{{Cite web |last=Roach |first=Sarah |date=14 February 2022 |title=Coinbase's Super Bowl ad hooked 20 million people in one minute |url=https://www.protocol.com/bulletins/coinbase-super-bowl-results |access-date=2022-04-29 |website=Protocol |language=en}}</ref> The 30-second ad, titled "Flying Your Way," featured a consumer seeking cryptocurrency advice while crypto enthusiasts descended from the sky, asking, "To the moon?" The commercial also highlighted a Shiba Inu dog, referencing the meme coin Shiba Inu (SHIB), and included an appearance of a Bored Ape NFT, targeting a crypto-savvy audience.<ref>{{Cite web |last=Agarwal |first=Reshab |date=14 February 2022 |title=eToro Super Bowl ad doesn't compare well with FTX or Coinbase |url=https://techstory.in/etoro-super-bowl-ad-doesnt-compare-well-with-ftx-or-coinbase/ |access-date=2022-04-29 |website=TechStory |language=en-US}}</ref><ref>{{Cite web |last=Beer |first=Jeff |date=14 February 2022 |title=How crypto brands failed to hijack the Super Bowl |url=https://www.fastcompany.com/90720707/how-crypto-brands-failed-to-hijack-the-super-bowl |access-date=2022-04-29 |website=Fast Company |language=en-US}}</ref><ref>{{Cite web |title=Did you see it: A Bored Ape Made Its Way Into eToro's Super Bowl Ad |url=https://www.theboredapegazette.com/post/did-you-see-it-a-bored-ape-made-its-way-into-etoro-s-super-bowl-ad |access-date=2022-04-29 |website=www.theboredapegazette.com|date=14 February 2022 }}</ref>
As of 2024, eToro's sponsorship portfolio encompasses five English Premier League clubs (Crystal Palace, Everton, Leicester City, Southampton, and Burnley), five Bundesliga teams (Eintracht Frankfurt, FC Augsburg, 1. FC Köln, Hamburger SV in Bundesliga 2, 1. FC Union Berlin, and VfL Wolfsburg), as well as the UK's Premiership Rugby Cup, Spain's Basketball Liga ACB, and Rugby Australia. In September 2024, eToro signed a two-year sponsorship agreement with Bayer 04 Leverkusen.<ref>{{cite web| url=https://www.financemagnates.com/fintech/etoro-secures-two-year-sponsorship-deal-with-bayer-04-leverkusen/ | title=eToro Secures Two-Year Sponsorship Deal with Bayer 04 Leverkusen| last=Sikder| first=Tareq | date=2 September 2024| publisher=Finance Management | access-date=9 November 2024}}</ref><ref>{{cite web| url=https://www.financemagnates.com/forex/brokers/etoro-launches-12-new-football-sponsorships-in-the-uk-germany/| title=eToro Launches 12 New Football Sponsorships in the UK & Germany| last=Skinner| first=Celeste| date=17 September 2020| publisher=Finance Magnates | access-date=9 November 2024}}</ref>
In July 2024, eToro collaborated with Lightricks' LTX Studio to produce an AI-generated advertisement that broadcast during the 2024 Summer Olympics in Paris.<ref>{{Cite web |last=Wright |first=Webb |date=24 July 2024 |title=New AI-generated ad from financial services company Etoro to air during Paris Olympics |url=https://www.thedrum.com/news/2024/07/24/new-ai-generated-ad-financial-services-company-etoro-air-during-paris-olympics |access-date=2025-03-20 |website=The Drum}}</ref><ref>{{Cite web |date=2024-07-30 |title='I hate the pointless AI-made advert airing during Olympics coverage' |url=https://www.shieldsgazette.com/business/consumer/etoro-ai-made-advert-airs-during-olympics-4722372 |access-date=2025-03-20 |website=Shields Gazette |language=en}}</ref>
==Legal and regulatory issues== ===CySEC, 2013=== In 2013, CySEC fined eToro €50,000 due to weaknesses identified in its organizational and operational structure, dating back to 2010.<ref>{{Cite web |date=12 February 2012 |title=CySEC Reaches Settlement With eToro at €50,000 for Undisclosed Violations |url=http://www.financemagnates.com/forex/brokers/cysec-reaches-settlement-with-etoro-for-e50000-for-undisclosed-violations/ |access-date=2015-05-13 |website=Finance Magnates}}</ref>
===Quebec blacklist, 2015=== In 2015, Quebec authorities placed eToro on a blacklist of unauthorized foreign companies, citing its encouragement of local residents to invest in binary options through its platform.<ref>{{Cite web |date=23 June 2015 |title=FXTM and eToro Added to Québec Blacklist by Local Watchdog |url=https://www.financemagnates.com/binary-options/regulation/fxtm-and-etoro-added-to-quebec-blacklist-by-local-watchdog/ |access-date=26 December 2024 |website=Finance Magnates}}</ref><ref>{{Cite web |title=Options binaires - Un nouvel appel à la prudence |url=https://lautorite.qc.ca/grand-public/salle-de-presse/actualites/fiche-dactualite/options-binaires-un-nouvel-appel-a-la-prudence |date=23 June 2015 |access-date=26 December 2024 |website=Autorité des marchés financiers |language=fr}}</ref>
===Misleading advertising in Italy, 2023=== In 2023, the Italian Competition Authority fined eToro €1.3 million for misleading advertising. The Authority found that eToro's Italian website promoted zero-commission share trading but did not disclose various costs and financial risks, such as currency exchange fluctuations and operational limitations on customer rights. These omissions led consumers to make choices they might not have otherwise made, in violation of Articles 20, 21, and 22 of the Italian Consumer Code.<ref>{{cite web| url=https://en.agcm.it/en/media/press-releases/2023/7/PS12313| title=PS12313 – Italian Competition Authority: eToro fined 1.3 million euro for misleading advertising| date=17 July 2023| publisher=Autorità Garante della Concorrenza e del Mercato | access-date=9 November 2024}}</ref><ref>{{cite web| url=https://www.reuters.com/business/italy-antitrust-body-fines-etoro-misleading-consumers-2023-07-17/| title=Italy antitrust body fines eToro for misleading consumers| date=17 July 2023| publisher=Reuters | access-date=9 November 2024 }}</ref>
===ASIC lawsuit, 2023=== In August 2023, the Australian Securities and Investments Commission filed a case against eToro Aus Capital Limited in Federal Court, alleging that the company of lack of compliance, more specifically, of violation of design and distribution obligations. The screening test for onboarding clients was so lax that nearly anyone could qualify. ASIC argued that eToro's target market for CFDs was overly broad for such a high-risk product. Between 5 October 2021 and 14 June 2023, almost 20,000 eToro clients reportedly lost money.<ref name=asicgovau/>
As of November 2024, court proceedings have been postponed eight times.<ref name=asicgovau>{{cite web| url=https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-204mr-asic-sues-etoro-in-its-first-design-and-distribution-action-to-protect-consumers-from-high-risk-cfd-products/| title=ASIC sues eToro in its first design and distribution action to protect consumers from high-risk CFD products| date=3 August 2023| publisher=ASIC | access-date=2024-11-08}}</ref>
===US SEC lawsuit for unregistered crypto trade, 2024=== An investigation by the U.S. Securities and Exchange Commission discovered that since at least 2020, eToro operated as an unregistered broker and clearing agency, facilitating crypto asset trading as securities. On 12 September 2024, eToro USA LLC agreed to pay a $1.5M penalty to settle charges, no comments had been given to admit or deny the SEC's findings. The US clients were given 180 days to liquidate other crypto positions, with only Bitcoin, Bitcoin Cash, and Ether remaining available for trade.<ref>{{cite web| url=https://fxnewsgroup.com/forex-news/retail-forex/etoro-usa-to-pay-1-5m-to-settle-sec-charges-to-cease-trading-activity-in-nearly-all-crypto-assets/| title=eToro USA to pay $1.5M to settle SEC charges, to cease trading activity in nearly all crypto assets| last=Nikolova| first=Maria| date=12 September 2024| publisher=FX News Group| access-date=9 November 2024}}</ref><ref>{{cite web| url=https://www.sec.gov/newsroom/press-releases/2024-125| title=eToro Reaches Settlement with SEC and Will Cease Trading Activity in Nearly All Crypto Assets| date=12 September 2024| publisher=U.S. Securities and Exchange Commission | access-date=9 November 2024}}</ref><ref>{{cite web| url=https://www.marketwatch.com/story/etoro-reached-a-1-5m-settlement-with-the-sec-other-brokerages-could-be-next-daa9369f| title=eToro reached a $1.5M settlement with the SEC. Other crypto brokerages could be next| last=Gottsegen| first=Gordon| date=12 September 2024| work=MarketWatch | access-date=9 November 2024}}</ref>
===Operating without proper licensing in Malaysia=== In May 2020, eToro announced the expansion of its commission-free offering to customers in the Asia-Pacific region. In response to eToro's announcement, the Securities Commission Malaysia (SC) publicly stated that eToro was operating without proper licensing in the country.<ref name=":9">{{cite web| url=https://theedgemalaysia.com/article/sc-etoro-not-licensed-registered-regulated-activities-malaysia| title=SC: eToro not licensed, registered for regulated activities in Malaysia| last=Hamdan| first=Muhammed Ahmad| date=20 May 2020| publisher=The Edge | access-date=9 November 2024}}</ref> The company stated that Asian investors are regulated under its ASIC license and can trade through it.<ref name=":9" />
===Operating without proper licensing in Canada=== From 2008 to 2017, eToro operated in Canada without a license despite warnings from the Ontario Securities Commission (OSC).<ref name=pushed/> In 2018, eToro agreed to pay a $550,000 fine and an additional $25,000 in costs, and to disgorge nearly US$1.8 million. The company also committed to closing Ontario accounts and blocking its site from Canadian IP addresses.<ref>{{cite web| url=https://www.investmentexecutive.com/news/from-the-regulators/osc-fines-etoro-500000-for-trading-without-registration/| title=OSC fines eToro $500,000 for trading without registration| last=Langton| first=James| date=11 October 2018| publisher=Investment Executive | access-date=9 November 2024}}</ref>
===Illegal forex operations in India=== In September 2022, the Reserve Bank of India (RBI), India's central bank, released a list of 34 unauthorised forex trading online platforms, which included eToro.<ref>{{cite news |date=11 September 2022 |title=RBI issues alert list: Declares these 34 forex trading online platforms as illegal |url=https://timesofindia.indiatimes.com/gadgets-news/rbi-issues-alert-list-declares-these-34-forex-trading-online-platforms-as-illegal/articleshow/94126965.cms |work=The Times of India}}</ref> It later updated the number of platforms to 88.<ref>{{Cite news |last=Kulkarni |first=Sneha |date=2024-10-22 |title=RBI updates list of unauthorised forex trading platforms; check the full list here, how to check authorised list |url=https://economictimes.indiatimes.com/wealth/save/rbi-updates-list-of-unauthorised-forex-trading-platforms-check-the-full-list-here-how-to-check-authorised-list/articleshow/114461461.cms |access-date=2025-03-20 |work=The Economic Times |issn=0013-0389}}</ref>
===Operating without proper licensing in Philippines=== On 14 March 2024, the Securities and Exchange Commission of The Philippines issued an advisory against eToro. The company was marketing its offerings to Filipinos and allowed them to open accounts without the necessary license, an act punishable in the Philippines with up to 21 years in prison.<ref>{{cite web| url=https://www.financemagnates.com/forex/etoros-promoters-in-the-philippines-risk-up-to-21-years-in-jail/| title=eToro Promoters in The Philippines Risk up to 21 Years in Jail | date=5 April 2024| publisher=Finance Magnates | access-date=9 November 2024}}</ref> The company spokesman denied active promotion of its services in the Philippines and highlighted that it has no local presence in the country. In October 2024, the company announced that it will stop operations in the Philippines citing "risk management considerations". Philippines residents' access to all accounts will be stopped on 15 February 2025.<ref>{{cite web| url=https://www.financemagnates.com/fintech/etoro-cites-risk-management-considerations-behind-the-philippines-exit/| title=eToro Cites "Risk Management Considerations" Behind The Philippines Exit| last=Shome| first=Arnab| date=16 October 2024| publisher=Finance Magnates | access-date=9 November 2024}}</ref>
==References== {{Reflist}}
{{Online brokerages}} {{Cryptocurrencies}} {{Israel NASDAQ}} {{authority control|state=expanded}}
Category:2025 initial public offerings Category:Alternative investment management companies Category:Asset management companies Category:Brokerage firms Category:Companies based in Tel Aviv Category:Companies listed on the Nasdaq Category:Cryptocurrency exchanges Category:Electronic trading platforms Category:Financial derivative trading companies Category:Financial services companies established in 2007 Category:Foreign exchange companies Category:Internet properties established in 2007 Category:Online brokerages Category:Trading companies established in the 21st century