eToro Social Forex Trading Raises $2.4 Million More Led By Social Leverage

Tradonomi, the parent company behind eToro has completed a $2.4 million round led by new investor Social Leverage, with participation of previous backers BRM Capital and Cubit Investments. eToro has raised approximately $8 million to date from the aforementioned funds as well as prominent Israeli angels including Guy Gamzo, Chemi Peres as well as Ofer and Yaron Adler. Most recently, eToro added $6.3 million to its coffers in April of 2009.

Israel-based eToro offers social “trading arenas” for foreign exchange (FOREX), commodities and indices in a fun and social way. The product is built almost as a game, targeting both entry-level and expert users. The site lets you start off with fake money and start trading right away. With over 1.5 million registered users to date, eToro may very well be onto something.

eToro has quite a few hooks to attract the users and keep them engaged:

  • Learning value – eToro really puts the emphasis on educating the users on FOREX (to increase trading volumes)
  • Recession proof – while sites like kaChing would take a hit when the market is down, FOREX markets make the most money when volatility is high.
  • The tools offered on the site could easily compete with professional investment software in a family office or a small trading desk. Graphs, charts, statistics and so on.
  • Community – a forum, one to one help and the ability to connect with other users and compete with them on trading challenges, gives eToro the look and feel of a multi player online game, except that the money can be real and the transactions update based on the real world.

Novice users with no previous forex trading experience in your registration process, you will be automatically directed to Visual Mode

Techcrunch also notes the parallels of eToro’s platform with StockTwits, which could be a nice growth engine for both companies. eToro is based in Tel Aviv, Israel with offices in NY, Australia and Cyprus. The company has 120 employees and is led by co-founder and CEO Jonathan Assia and his brother Ronen.

Eze Vidra
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Eze Vidra

Chief Innovation Officer at Antidote
Eze is the Chief Innovation Officer at Antidote, a startup helping patients search and match to clinical trial, to accelerate medical breakthroughs. Previously, Ezewas a General Partner at Google Ventures Europe. Before GV, Eze founded and led Campus London, Google's first physical hub for startups, and was the Head Google for Entrepreneurs in Europe. He's an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.
Eze Vidra
Follow me

Eze Vidra

Eze is the Chief Innovation Officer at Antidote, a startup helping patients search and match to clinical trial, to accelerate medical breakthroughs. Previously, Eze was a General Partner at Google Ventures Europe. Before GV, Eze founded and led Campus London, Google's first physical hub for startups, and was the Head Google for Entrepreneurs in Europe. He's an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.

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