With the introduction of zero-commission stock trading apps, a whole new class of investor joined the stock market. While some apps have shied away from adding tools to inform and help, eToro built its app from the ground up to be beneficial to inexperienced investors.
It did this through its social investment platform, which allows anyone on the app to follow and copy the best performing investors on the network. Through this, inexperienced traders can learn what to watch for and how to manage stocks.
eToro was built by two brothers, Yoni and Ronen Assia, in 2007. The app truly came online in 2010 with the introduction of the social network, and the company added hundreds of stocks from the UK, Germany and US.
In 2014, eToro added bitcoin trading to its investment instruments. It followed up in 2017 with a new trading platform, based on Blockchain technology. It wasn’t until 2019 that eToro reduced all its commissions to zero, following from the success of Robinhood.
eToro, like a lot of fintech businesses, has seen its usage and valuations rise sharply in the past two years. It has added seven million active users since the pandemic started, while its valuation also increased tenfold.
Even though eToro still has a majority of its users in Europe, it is attempting to expand into the US through its zero-commission stock trading and cryptocurrency exchange. It plans to IPO on the NASDAQ through a SPAC later this year.
We have collected data and statistics on eToro. Read on below to find out more. Want to dive deeper into the stock trading app sector? Check out our finance app report.
eToro Key Statistics
- eToro generated $630 million revenue in 2023, almost flat on the previous year
- eToro had 3.1 million funded accounts on its platform in 2023
- In June 2023, eToro reached 35 million registered users
- In eToro’s most recent funding round it was valued at $3.5 billion
Want to learn more about the finance app industry? In our Finance App report, we cover financials, forecasts, usage, downloads, demographics and benchmarking data.
Finance App Report 2024
eToro Overview
| Title 1 | Title 2 |
|---|---|
| Launch date | 16 January 2007 |
| HQ | Tel Aviv-Yafo, Israel |
| People | Yoni Assia (CEO), Ronen Assia (executive director), Shalom Berkovitz (CFO) |
| Business type | Private |
| Owner | Stock trading and cryptocurrency exchange |
eToro Revenue
eToro generated $630 million revenue in 2023, a $1 million decrease on the year prior. This is less than half it generated in 2021.
eToro revenue 2016 to 2023 ($mm)
| Year | Revenue ($mm) |
|---|---|
| 2016 | 60 |
| 2017 | 263 |
| 2018 | 369 |
| 2019 | 245 |
| 2020 | 605 |
| 2021 | 1234 |
| 2022 | 631 |
| 2023 | 630 |
Sources: Finance App Report, Company data
eToro Active Accounts
eToro had 3.1 million active accounts in 2023, which are considered active when they have money deposited.
eToro active users 2019 to 2023 (mm)
| Year | Active users (mm) |
|---|---|
| 2019 | 1.1 |
| 2020 | 2 |
| 2021 | 2.8 |
| 2022 | 2.8 |
| 2023 | 3.1 |
Sources: Finance App Report, SEC
eToro Registered Users
eToro reached 35 million registered accounts in June 2023, although the majority do not actively use the platform.
eToro registered users 2016 to 2023 (mm)
| Year | Users (mm) |
|---|---|
| 2016 | 5.6 |
| 2017 | 8.1 |
| 2018 | 10 |
| 2019 | 12 |
| 2020 | 17 |
| 2021 | 20 |
| 2022 | 28 |
| 2023 | 33 |
| 2024 | 35 |
Sources: Company data, SEC
eToro Valuation
eToro reduced its valuation again to receive more funding in 2023, down by more than half of its 2021 valuation.
eToro valuation 2018 to 2023 ($bn)
| Year | Valuation ($bn) |
|---|---|
| 2018 | 0.8 |
| 2020 | 2.5 |
| 2021 | 10 |
| 2022 | 8.8 |
| 2023 | 3.5 |
Note: 2021 valuation is eToro’s own private valuation pre-IPO. Sources: Bloomberg, Reuters
eToro Users vs Competitors
eToro is a mid-tier stock trading app in terms of users. The leader, Robinhood has tripled the active users of eToro.
Stock trading users by app 2023 (mm)
Want to learn more? Check out our Finance App Report
eToro FAQ
What is the average age of an eToro user?
The average eToro user is 34 years old
What are the regional demographics of eToro?
69% of users are from Europe, followed by Asia-Pacific (18%) and then the Americas (8%)
What is the job demographics of eToro users?
11% are full-time traders or investors, followed by 10% in computer/IT services and 7% in sales or marketing
What are the most popular stocks traded on eToro?
Bitcoin is the most popular, it accounts for one in every 25 positions opened. Tesla, Microsoft and Apple are the most traded stocks. NASDAQ 100 is the most traded index. Oil is the most traded commodity.
How many countries is eToro in?
eToro is available in 140 countries
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