When it comes to financial technology, there are almost as many firms trying to get in on supplying the market as there are firms taking advantage of the supply offered for their own operations. One of the biggest new tracking apparatuses for finding out just who the biggest names in financial technology recently came out in the form of the FinTech50 Watchlist, and one of the names on that list was none other than eToro.
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The FinTech50 Watchlist is a collaborative effort undertaken by a group of organizations geared toward spotting and highlighting some of the biggest names in the field. Among those firms involved in the establishment of the FinTech50 Watchlist are The CEO Agenda, Hotwire, Silicon Valley Bank, ICON Corporate Finance, and Fox Williams, part of what's being called the Watchlist Panel. This represents the first such list ever, and is expected to show up annually.
As for what landed eToro on the FinTech50 Watchlist, it's eToro's unusual vision that had a lot to do with it. eToro is, essentially, the equivalent of FacebookÂ (News - Alert) for investors. Those who join eToro will be able to select from a wide variety of traders who offer their own individual trading strategies. From there, users will be able to learn just exactly what trades these traders make, allowing individual users to make their own judgment calls about whether or not to funnel their own money into similar trades, allowing individual users who may not know much about stock trading to make their own moves, or follow along with the moves of traders who have done well in the past.
Given that eToro has had over 38 million trades opened since its listed date of January 1, 2012, it's clear that there are plenty of users interested in getting some extra help with very specific trade information. eToro's CEO, Yoni Assia, had some remarks on the recent success of eToro and eToro's naming to the FinTec50 Watchlist, saying, "We at eToro could not be more honored to have been chosen to figure on such a prestigious list, amidst such stellar companies. Our selection will serve as a powerful engine to drive our innovation even further in order to continue to supply our customers with unique and practical solutions, and inspire the financial investment industry to embrace more social avenues."
Investment advice may be easy to come by--most anyone can suggest a certain stock or fund--but it's not just anywhere users can track the performance of all that investment advice before taking the hints proffered and running with them to their inevitable end, one way or the other. While it's not a sure thing--even the highest successes on the site top out at 99.5, from a quick look at the site--it's still going to give some people at least the impetus they need to start considering their futures. It's an interesting idea, executed well, and as such makes perfect sense that it would be included in the new FinTech50 Watchlist. It will likely make it back on the list at some point as well.
Edited by Amanda Ciccatelli