Abstract：eToro, now approved by Abu Dhabi's ADGM, enters the UAE financial market, offering diverse trading opportunities in securities, derivatives, and cryptocurrencies.
Abu Dhabi, United Arab Emirates - In a landmark development that strengthens the bridge between traditional financial services and innovative financial technology, eToro, a globally acclaimed trading and investing platform, has proudly announced its receipt of a Financial Services Permission (FSP) from the . This crucial approval enables eToro to extend its brokerage services within the United Arab Emirates, encompassing a wide array of financial instruments such as securities, derivatives, and crypto assets.
Yoni Assia, the visionary Founder and CEO of eToro, has expressed his excitement and optimism about this strategic expansion. “Receiving the operating license from ADGM is not just a milestone for eToro but a testament to our commitment to adhering to the highest standards of regulation and security. Abu Dhabi's emergence as a fintech hub aligns perfectly with our vision of global expansion. We are eager to contribute to this flourishing financial ecosystem,” said Assia.
Under the skilled guidance of Jason Hughes, Senior Executive Officer for eToro Middle East, and George Naddaf, GCC & MENA Regional Manager, eToro is set to delve deeper into the UAEs market dynamics. The platform aims to empower UAE investors, enhancing their financial literacy and assisting in wealth accumulation, all within the ambit of a globally connected community of investors.
Arvind Ramamurthy, Chief of Market Development at ADGM, warmly welcomed eToro's entry into ADGM's regulatory framework, which is recognized as the largest for virtual assets in the MENA region. “eToro's integration into our ecosystem is a significant boost to our vibrant and trustworthy network of virtual asset trading platforms, international exchanges, and service providers. This collaboration underscores the UAE's strategic importance in the realm of global finance and underscores our commitment to fostering a progressive financial environment,” remarked Ramamurthy.
Since its inception in 2007, eToro has seen rapid development, accumulating a community of over 34 million registered members from more than 100 countries and providing services in many languages. The eToro platform is intended for more than simply trading; it is also intended for knowledge sharing and financial advancement. It enables users to obtain insights into the portfolios of other investors, encouraging the exchange of ideas and methods that enhance the entire investing experience.
eToro's diverse portfolio includes traditional assets like equities, currencies, and commodities, as well as modern investments like cryptocurrencies. The platform provides a multifaceted investment approach, allowing users to trade directly, invest in carefully curated Smart Portfolios, or emulate the strategies of seasoned investors on eToros platform.
Founded with the vision to make trading and investing accessible and straightforward, eToro has evolved into a platform that is more than just about financial transactions. It's a community where shared knowledge empowers each member to invest more intelligently. With over 34 million users globally, eToro stands as a testament to the power of collaborative investment. The platform offers a wide spectrum of investment choices, from traditional to innovative, and provides multiple avenues for investment, including direct trading, portfolio investment, and strategy copying.
This approval by ADGM marks a critical phase in eToros journey of global reach and influence. The company's ethos of integrating traditional financial acumen with the latest in financial technology resonates deeply with the UAE's ambition to cultivate a technology-driven financial sector. As eToro plants its roots in the UAE market, it is poised to make a substantial contribution to the burgeoning fintech landscape, bringing a unique blend of expertise, innovation, and user-centric financial solutions.
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