eToro Registers 3.1 Million New Users in Q1 2021

eToro, an Israeli social trading and multi-asset brokerage company, announced an onboarding of 3.1 million traders within the first quarter of 2021, bringing its total user number up to 20.6 million retail clients.

The most recent figure is up significantly from the 1 million traders who came on board in Q1 of 2020. This year’s onboarding so far is also impressive, considering that eToro opened an overall total of 5.2 million new trading accounts throughout the entirety of 2020.

The total number of trades executed on eToro’s platform reached 210 million for the quarter, a 233% increase compared to the first quarter of 2020, driven by strong demand for stocks and cryptoassets. Despite the impressive figures, the broker has chosen not to reveal any statistics regarding trading volumes despite the impressive figures.

Commenting on the announcement, Yoni Assia, Co-Founder and CEO of eToro, said: “Last year was characterized by accelerating retail investor engagement. Widespread media coverage of the financial markets and more time to upskill in lockdown encouraged a record number of retail investors to enter the markets via online investment platforms and apps.”

This announcement follows the previously announced planned business​ combination with FinTech Acquisition Corp. V.