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eToro's Hits 50,000,000 Traded Positions Since Its Launch

Earlier this week, social trading titan eToro revealed that it has reached a crucial milestone, one that is not only worthy of a note but also calls for a celebration. As reported on its official blog, the broker just recently registered 50 million completed transactions since it opened doors back in 2007.

Of those, the greater deal – some 32 million – were copied trades, 85% of which were closed at a profit. But as good as these results might be, eToro is far from satisfied and is determined to continue on the quest to creating the world's biggest and most effective autotrading platform. How do they intend to achieve it? Through developing on the concept of “sustainable trading”. As suggested by collaborating MIT researchers, Dr. Altshuler and Prof. Petland, eToro will be adding copy recommendations or daily tips to its offering in the not very distant future. These will facilitate the decision making process by providing OpenBook users with the information they need on whose trades it's best to mimic. Based on the data collected by Altshuler and Petland over a period of one year and a half, sustainable trading could very well bring the network's overall return on investment (ROI) up to 58% as compared to the current figure of a little over 10%.
And while there are some bright prospects ahead for the art of trade imitation, things are not as great for the ones who'd rather trust their own expertise. Of 18,000,000 manually executed transactions, just about a half brought returns. By and large, this can't be considered all too bad but it doesn't come close to the 85% that copy traders scored either.
Another curious aspect of the statistics that eToro rolled out is that some 13% of the positions were carried out by users over 65. Clearly, age is no obstacle but nonetheless the largest number of trades, 34%, were registered by people within the younger segment of 25 to 34 years. Perhaps to no one's surprise, the majority, 79%, of the trading was done by men where the ladies were only accountable for 21% of all transactions which makes quite a bit of sense in the male-dominated environment that foreign exchange is.
In terms of territorial distribution, some twenty-four million and a half of all transactions were realized by traders, operating out of Europe. The second most active users are in Asia with 8% of trades where eToro's platform is delivered by Australian-based brokerage IC Markets Ltd. In the US, local traders carried out 6% percent of all positions and in Africa and Australia – an equal figure of 4% each.
The data also shows that most traders still rely on the good old desktop as compared to the use of portable devices. The bulk, 87%, of all trades are executed from a stationary working place and understandably so. As we marked in a recent feature of ours, mobile trading is not nearly as reliable, not to mention that it could be quite addictive. To be successful, a trader would be expected to step away from monitoring the market once in a while and clear their head, something that is becoming ever more difficult with the proliferation of around-the-clock access to trading applications. Well, it's a good thing at least to see that eToro's clients don't seem to succumb to the temptation all too often.
TAGS: etoro  openbook  guru  copiers  followers  forex  trading  zulutrade  social trading  broker  50 million positions 

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