You’ve probably seen the Steve and Dave ad floating all over YouTube about eToro. Well, eToro has arrived in the country to allow people with decent enough income to invest in stocks easily.
Paul Familiaran, eToro Business Head of Southeast Asia.
Essentially like Facebook but for stocks trading, eToro is stepping up its efforts in the Philippines where it is seeing encouraging uptake and huge potential for its patented “copy-trading” and multi-asset platform.
In the past three months, eToro has hosted two big events in Manila where hundreds of traders were in attendance. These events were done to continuously grow its community in the Philippines. They are also set to organize several offline events along their consistent online campaigns to attract more Filipino traders into their platform.
“It’s been said that Filipinos are not investment-minded; due to lack of awareness, knowledge and a degree of intimidation with financial instruments. Perfectly normal. But from what we are seeing, social trading is now democratizing participation in stocks and other assets trading,” said Paul Familiaran, eToro Business Head of Southeast Asia.
The hook of the eToro platform is its copy-trading feature. Essentially, this allows investors to “copy and paste” the activity of other traders on the platform. If you’re unsure of what you are doing, this would be a great starter kit to allow smarter and more experienced trader than you to take over the wheel.
To invest in eToro, an initial USD 200 deposit is required. Every concurrent deposits in the future can be made for as low as USD 50.
“We consider the Philippines a major market. It helps very much that Filipinos are very social-savvy. As a social trading platform, the ability to share insights and information so as to enhance trading performance is inherent to eToro thathas actually patented an ingenious copy-trading feature,” added Familiaran.
As with most social media platforms, eToro is available via PlayStore and the iOS store. We’re currently trying out the platform and to be honest, eToro allows us to bypass most middlemen as well as red tape in traditional stocks trading.
Hopefully, we’ll be able to publish a relatively in-depth look (despite our inexperience in the stocks industry) on the eToro platform in the coming days.