Over the past years, trading apps have revolutionized the way people interact with the world’s financial markets and stock exchanges, making it simple and easy to trade online, whether at home or on the go. The number of people using trading platforms to make investments has grown constantly each year, but in 2021 it surged to all-time highs.
According to data presented by Stock Apps, as one of the largest trading platforms globally, eToro hit 23.2 million users in the second quarter of the year, almost double the user count two years ago.
While eToro has operated in the United States since 2009, it is still most popular in Europe. According to AirNow data, in July, the app hit around one million monthly active users globally. The majority of them were based in the United Kingdom, where it ranked as the most downloaded online trading app.
The company’s official data showed eToro’s number of users had increased tenfold over the last decade. In 2012, the Israel-headquartered trading platform had around 2.5 million registered users. By the end of 2019, this figure soared by 400% to 12.3 million and continued growing. The platform added 5.2 million users last year, with their total number rising to 17.5 million.
However, 2021 might set a new record. Statistics show the number of newly registered users jumped by 5.7 million in the first half of the year only, more than in the entire 2020.
The number of funded accounts was also on the rise. eToro defines funded accounts as registered users who have completed the onboarding processes, activated their account, made at least one trade, and have a positive balance. Statistics show that in the second quarter of 2021, the number of funded accounts hit 2 million globally, almost 150% more than in the same period a year ago.
The vast majority of these accounts or 68% belong to European users. Although eToro has increased its presence in the Americas considerably in 2021, only 12% of funded accounts were located in this region, 3% less than in the Asia Pacific.
Statistics show the number of quarterly trades of Israeli online trading platform eToro dropped substantially between the first and second quarter of 2021, falling from around 210 million to 127 million.
This was probably influenced by the hype around online trading associated with the campaign on social media in early 2021. The main goal of this campaign was to raise the price of several stocks that institutional investors had engaged in short selling so that they would lose money on these transactions.
Nevertheless, the number of quarterly trades in the second quarter of the year amounted to 127 million, 71% more than in the same period a year ago.
Jastra has written for many other sites including BuyShares.co.uk, The Business Mogul, Inside Business, Business Today, Startups Magazine, and TradingPlatforms.com.
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