Online forex co eToro raises $2.4m

Online foreign exchange trader eToro Ltd. has raised $2.4 million in its third financing round, reports "TechCrunch". Social Leverage led the round, joined by current investors BRM Capital and Cubit Investments.

eToro has raised $8 million since it was founded by CEO Jonathan Assia and his brother, Ronen, in 2007, not including the current round.

eToro is an online commodity, currency and index trading platform with a user friendly interface designed for non-professionals.

Assia told "TechCrunch" that eToro has 1.5 million registered users, and that it has 120 employees in Israel, New York, Australia and Cyprus. He said that users have traded over $100 billion on eToro to date and that the average transaction size, before leverage, was $50. Trades made on the site are public for others to view, and successful traders can get quite a following on the service.

Published by Globes [online], Israel business news - - on June 8, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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