eToro and Sberbank partner up
Sberbank has launched a partnership with eToro, a leading global investment social network, bringing together 5 million traders from 140 countries. Parties reached an agreement on developing and launching a joint venture in Russia.
The joint project with eToro is targeted at both professional traders and beginner investors. The project will let clients converse in a professional social network and perform trading operations involving such assets as leading companies' stocks, currencies, commodities and indices. The joint venture's clients will also receive additional benefits when working with eToro through Sberbank's remote channels.
"The partnership between Sberbank and eToro will enable our clients to take advantage of the vast potential of eToro's trader community," Herman Gref, CEO, Chairman of the Executive Board of Sberbank, noted. "The eToro platform features a simple interface, which supports trading in global financial markets, using the knowledge and experience of other traders. This year we plan to establish a joint venture for serving clients in Russia."
eToro was launched in 2008. The company's mission is to offer a platform for both beginner traders and professionals where they are be able to converse and share experience, and that is easy and intuitively in terms of usability. The eToro platform allows users to carry out deals at any time, including by phone; to receive information from millions of traders around the world, to learn about investing and learn from each other, follow strategies for other investors and copy the best deals.
Yoni Assia, the CEO and founder of eToro, noted: "We are pleased that our partnership with Sberbank will enable us to provide access to our services to the clients of the largest Russian bank, as well as to offer an alternative financial instrument and innovational platform for investments in financial markets".
In 2015, eToro launched a Russian version of its next generation trading platform with integrated innovational and intuitive trading instruments.