The social investing and trading platform eToro announced that it will finally be launching its platform in the U.S. The platform, which already operates in more than 140 countries, will be available in 30 states and two territories with plans to expand elsewhere in the U.S. after receiving the necessary regulatory sign-offs.
The U.S. platform will only support trading for crypto assets at launch, but eToro plans to add additional asset classes within the next 12 months. In eToro’s existing markets, the company’s 10 million-plus users are able to trade and hold more than 1,500 different asset classes and markets, including stocks, bonds, cryptocurrencies, fiat currencies, commodities and more.
Though eToro even supports more advanced trading strategies — including short-selling and the use of leverage — the platform’s transparency and community engagement features act as great tools for beginners to learn the capital markets and learn how to trade.
EToro is equal parts trading platform, social network and educational resource. Anyone who signs up for eToro can see, comment and copy the trading activity of everyone else on the network, as well as their realized returns and losses to date (though only on a percentage basis to protect sensitive financial information).
While learning from the strategies of their peers, users can opt to invest with virtual currency to practice and effectively train before actually risking their own money.