It was revealed Wednesday that leading global social trading and investment platform eToro has officially obtained its New York license, marking a significant milestone in its US expansion.
eToro Obtains New York License, Announces Launch
The company announced its launch in New York on Tuesday, making its services available to eligible investors in all 50 states.
This development was confirmed by a tweet from the New York Stock Exchange (NYSE) on Wednesday, highlighting the importance of eToro’s entry into the state.
“Major news from @eToro — the world’s largest social trading network officially obtains its New York license!” the @NYSE account tweeted.
In an interview with the exchange, eToro’s Founder and CEO, Yoni Assia, said they “are very excited to launch eToro in New York, where customers will be able to trade stocks and options on a wrap.”
He added: “Our global customers can trade cryptocurrencies alongside commodities and indices as well, and we are excited to have this milestone of enabling eToro to our New York customers.”
eToro’s platform offers a user-friendly interface and social trading features, such as copy trading, which allows users to replicate the trades of experienced investors.
Additionally, the platform provides access to educational resources and a global community of traders.
In the press release announcing its New York launch, Andrew McCormick, Head of eToro US, said that while the US has one of the highest rates of retail investor participation in stock markets globally, “there still remains a huge opportunity to engage everyday investors who wish to grow their financial knowledge and wealth.”
