Twitter users will be able to view live price charts spanning stocks, ETFs, cryptos, and commodities. Users will also be able to click through to eToro’s platform for more detailed information and the opportunity to invest. The new functionality will go live on Thursday.
The eToro partnership builds on Twitter’s $Cashtags feature, which provides basic information on certain stocks and cryptocurrencies using data from Tradingview. Among the most popular $Cashtags are $TSLA (Tesla) and $BTC (Bitcoin).
The $Cashtags tool has proven popular since it launched in December 2022. More than 420 million searches have been recorded in 2023. The social media giant is seeing an average of 4.7 million $Cashtag searches each day, with bumper figures around high-profile earnings reports.
However, the eToro partnership will take the existing capabilities further, expanding the list of $Cashtags that generate real-time charts, while also providing a route to the eToro platform to view more detailed information and make trades.
“Twitter Has Become A Crucial Part Of The Retail Investing Community”
CEO of eToro, Yoni Assia, commented on the partnership: “Financial content on social media has provided education to many who have felt excluded by more traditional channels. Twitter has become a crucial part of the retail investing community – it’s where millions of ordinary investors go every day to access financial news, share knowledge and converse.”
Assia went on to say: “As the social investing network, eToro was built on these very principles – community, knowledge-sharing and better access to financial markets. There is power in shared knowledge and by transforming investing into a group endeavour, we can yield better results and become more successful, together.”
These comments align with growing trends on Twitter, with the platform recording 498 million tweets about business and finance in the first quarter of the year. Interestingly, 65% of these tweets were from users aged between 18 and 34.
eToro is a social investment network that was established in 2007. The brokerage has a presence in more than 140 countries with 27 million registered users. The brand also began offering services to US residents in 2022.
The eToro group is regulated in multiple jurisdictions through its various operating entities. This includes holding licenses with the US Securities & Exchange Commission (SEC), UK Financial Conduct Authority (FCA), and Cyprus Securities & Exchange Commission (CySEC).
Clients can trade thousands of stocks, including big names in the US like Meta, Netflix and Tesla. Fractional stocks are also available, lowering entry barriers for beginner investors.
In addition, eToro offers an easy-to-use copy trading solution, allowing clients to mirror the strategies of experienced investors. This has made the platform popular with individuals seeking a hands-off approach to investing.
The eToro partnership will be welcome news to Tweeters already making use of the $Cashtags feature. The new functionality is also likely to be well-received by Twitter’s wider user base that turn to the platform to discuss financial markets.
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