Social media investment network adds stocks and shares
eToro, a community powered network, enables investors to see, follow and automatically copy the actions of other investors in real time.
Initially, 60 well-known stocks will be available to trade including Apple, Amazon and Coca Cola. Up until now, users were only able to trade currencies and commodities.
Yoni Assia, founder and CEO of eToro, said: “By adding stocks from major household names to our social network, we are encouraging our users to engage with well-known brands in a different way – a way not deemed possible before – through the buying and selling of stocks on our platform. We are basically empowering consumers, allowing them to become truly engaged with the brands that touch their lives.
“The power of the everyday investor is not to be underestimated – their sentiment holds the key to the future of these brands and we are helping crystallise the bond between the everyday consumer and some of the world’s biggest companies. In doing so we are unlocking the markets, providing even first time investors with easy access to a world previously inaccessible to them.”
eToro users can choose to automatically copy any other user from within the network, while setting certain limits to keep investment within specific thresholds. They can invest any amount in the stock of their choice.
Results have shown that copy trading delivers returns 30 per cent greater than standard manual trading, the company said.
eToro received its Financial Conduct Authority licence in May and has more than 2.75 million users in over 190 countries.
The minimum required investment to open an account is $50.