HOBOKEN, N.J., April 26, 2022 /PRNewswire/ — eToro, the online social investment platform with over 27 million registered users, today announced that a survey of US adults conducted by the firm reveals that more than 80% of people turn to social media for education and tips about investing. This finding is in line with a growing trend of younger investors doing their own research when beginning their investment portfolios. Additional responses included that over 83% of people feel more comfortable investing with the help of expert advice, that over 60% feel more creative when in a group setting, and over half feel they learn better when being helped by others.
eToro CEO and Co-founder, Yoni Assia said: “We are witnessing tectonic shifts in asset ownership and a convergence of finance and culture driven by the twin forces of technology and community. Millennials and Gen Z are on the threshold of becoming the new investor class, and eToro was designed to answer the needs of this generation of investors and collectors.”
Emerging Investors Turn to Social Media
Nearly 40% of people surveyed stated they were “not that confident” or “not at all confident” investing on their own. 66% of people agreed that access to a social investing community would at least somewhat increase their confidence when investing. Half of respondents use online resources when seeking education in investing. At 63%, YouTube was the most popular among those who use social media to seek investment information, followed by Facebook at 44% and Twitter at 34%.
US CEO of eToro Lule Demmissie said: “These results confirm what eToro knows to be true: that the next generation of retail investor demands an experience rooted in community, with universal access to educational tools and expert analysis,”. “eToro pioneered the social investing platform, and we expect to see this style of investing flourish as millennials and gen z continue to enter the market.”
The Next Generation of Investor is Here
The results of this and past consumer surveys conducted by eToro tell the story of a new generation of investors, who seek out community and are turning to social media to find information on investing. eToro’s social investment platform combines the community aspects of social media with the convenience of an online and mobile investing tool. The platform creates access to investing by providing expert financial analysis, educational materials, and the ability to copy the portfolios of successful traders. The platform also offers a virtual portfolio through which users can “trade” $100,000 in virtual currency to get firsthand investment practice with zero risk. Additionally, investors who perform well on the platform can become part of eToro’s popular investor program, which offers additional benefits.
Previously, eToro released findings from a survey which examined US consumers behavior related to cryptocurrency and dating, where 74% of respondents said they would go on a second date with a person who paid the bill with Bitcoin. Future releases will examine topics such as women in investing and the behavioral psychology involved in investing.
About the Survey
eToro’s Community Investment survey was commissioned from Appinio, a global market research platform that enables companies worldwide to obtain thousands of opinions from specific target groups. User accounts are verified by digital fingerprint and social identity logins to ensure that every respondent is directly attributed to just one device and to prohibit multiple accounts. Appinio uses quality-control questions to monitor the consistency and attentiveness of its panelists and automatically excludes respondents who show certain response patterns such as straight-liners and speeders. Respondents are screened for target group fit in a process that takes place outside of the context of the corresponding survey to ensure unbiased answers and superior data quality. Appinio’s acquisition channels consist of a variety of online and offline activities that maximize reach and guarantee representation. Channels include user referral, social media, targeted ads for specific groups, and offline content partnerships.
eToro is a multi-asset investment platform that empowers people to grow their knowledge and wealth as part of a global community of successful investors. eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. Today, eToro is a global community of more than 23 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold, and sell assets, monitor their portfolio in real time, and transact whenever they want.
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