eToro: 427% increase in users due to the Corona pandemic

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eToro: 427% increase in users due to the Corona pandemiceToro announced on Tuesday that it has reached 13 million registered users, with a marked upward trend in the first four months of 2020, the period of the COVID-19 pandemic.

The medium saw a 427% increase in new users during these critical four months, when millions of people were in isolation. According to a statement from eToro, these new users, at some point during these four months, made their first deposit.

CEO and Co-Founder Uni Asia commented in an official statement,

“The market volatility caused by the vagaries of the coronavirus has been a focus of the media globally and is increasingly bringing the topic of investing onto people's radars. We have seen a huge increase in trading volumes on eToro since the beginning of 2020 from both new and existing users. ”

Recently, the medium has been flooding social platforms with high-quality ads, which undoubtedly played its part. These announcements centered on eToro's new commission-free stock trading policy for UK and EU residents. Current reports claim that stock trading has tripled in the past two months.

The company is currently making plans to expand its commission-free stock trading to the US and the Asia Pacific region by the end of the year.

UniAsia says the company is developing a product based on the dynamic requirements of new and old customers. If that wasn't enough, eToro is looking at additional acquisitions, after buying last year to start monitoring Belgian cryptocurrency Delta and Danish blockchain company Vermo.

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