Comparic: First and foremost I want to thank you for your time. You are the creator of eToro, the largest social commerce platform in the world used by people from over 140 countries. eToro is also licensed by the British FCA. It forces me to new thoughts and I want to know your opinion about the Brexit. What will happen if the Uk were to leave the EU? It would have a negative impact on the eToro and its customers?
The uk’s decision does not affect our business because we are licensed and not only of the FCA but also by the CySEC in Cyprus. I am really counting on that when Brexit is about to arrive, will the free flow of goods, services, capital and people is still to be possible between the EU and the Uk.
Many of our users have several concerns about this incident, and I think, therefore, that they are likely to participate in social commerce. Both the GBP and EUR values are down, but we will well remember, about the upcoming election in France, which had a significant impact on the charts.
It seems that many investors are concerned about Europe’s future, so we are increasingly interested in investing in assets from the united states.
Comparic: How is the current trend among the body that regulates the financial markets in Europe? The central bank of ireland plans to ban currency trading for individual investors. In the same way, thinking the German BaFin. It seems as though the CFD does not have a good press in Europe. EToro is ready for a scenario in which such a form of trading will be banned?
We keep in touch with the most important regulators in the OTC-trade in Europe. I think that the current trend is positive. It is important that the new rules are well thought out.
Comparic: In that case, what are your plans for eToro in the future? Are you planning to expand into new markets or you will confirm your position on the current market?
eToro is a great company and we have an approved strategy for the next few years. We are planning to create the largest social commerce platform in the world. Over 6 million people from over 140 different countries trust us. The markets we want to focus on are primarily in Europe and the Middle east.
We plan to offer our customers several new markets, and currency pairs. I also want to remind you that it is possible to trade Crowns on the eToro platform. WIG20-the index is also planned. I want our offer to be simple and accessible for our customers.
Comparic: I would also like to talk about Israel and the Israeli security authority. As we know, the strict ISA-requirements led to a situation where most of the OTC companies have left the market. Will eToro to fight for an israeli license?
We have talked with ISA, but despite both parties ‘ sincerity, we decided to discontinue our operations in Israel because of regulatorens restrictive policies. We will continue to follow this market, but we are focused on developing in other parts of the world. I must admit that I would be happy if we could continue to talk with the israeli authorities, and in the future promote social commerce in Israel.
Comparic: do you Think social commerce is the future of trading on the financial markets? Perhaps this is social commerce is an interesting alternative to traditional investment?
The main objective of eToro is to make it easy for anyone to manage their property in a simple and transparent way. This is why we have created our own social commerce platform. Most of the money in the world belongs to people who have earned them, in almost 30 years. The emergence of the current femtioåringarna have seen with my own eyes the uprising, the expansion pack and internetfransen. It is those who expect simple solutions available here and now. Times when the manager sent a monthly letter or even a PDF with instructions on what and when to invest is now over.
It is important to realize that everyone now has access to the internet. I think that the financial markets will reach the scope, and we may eventually access to them. The question still remains, thanks to which platform and at what cost it is going to take place.
Comparic: I understand that you are not just a contractor without an active trader. There are some assets that Yoni Assia expect?
Yes, it is true. I’m shopping myself. The last example is Ethereum, where I saw a clear upward trend. I believe in both Bitcoin and the blockchain – the first has recently become more expensive than gold.
Recently, we have made it possible for eToro to trade Ethereum, so we are one of the pioneers in the trade with kryptovalutor. I believe that this technology is the future. The security is the important aspect in our life – the blockchain allows for it.
Comparic: Thank you so much for the conversation. More about the eToro offer is in the link.