eToro is planning its official launch in Australia, to help the trading platform build its brand awareness in the country, it has appointed Sefiani as its communications agency.
eToro selected Sefiani after a competitive pitch process, the statement released by the agency said. As part of its communication strategy, the company will focus on building literacy among Australian investors so they can invest through eToro’s online platform.
According to Robert Francis, the Managing Director of eToro’s operations in Australia, it is now the right time for the platform to start building a strong presence within the country’s market.
“Sefiani’s valuable combination of skill sets appealed to us: its strong investor experience and insights, solid knowledge of trading in a range of asset classes and experience in promoting disruptive platforms and solutions was exactly what we were looking for in an agency,” he said.
eToro facilitates trading in a range of asset classes such as foreign exchange (forex), commodities, cryptocurrencies, shares, indices and exchange-traded funds (ETFs).
Retail traders are on the rise in Australia
As , the number of retail traders in the over-the-counter (OTC) derivatives markets are growing in Australia. A survey conducted by the (ASIC) found that during 2018, 675 million transactions were made for OTC derivatives.
From this, 426 million, or more than 60 per cent, were in forex products. This is significantly higher than the regulator’s previous review when there were only 165 million transactions in FX products.
The Director of Sefiani, who was previously a London-based stockbroker, Sarah Craig, highlighted that the communications agency is excited to be working with eToro.
“Today, eToro has more than 11 million registered users globally who belong to an active online investment community where members share their knowledge and insights. eToro is an industry disruptor and has placed a new level of investor power within the hands of everyday Australians,” she continued.
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