The Israel-based social trading platform eToro has added the Israeli Shekel to the list of available trading instruments. The platform users will now be available to trade Israeli currency against USD, EUR, and GBP. eToro already lets its users invest in more than 3000 assets. The company is headquartered in Israel and has registered offices in the US, UK, and Cyprus.
According to the data from the Bank of International Settlements (BIS), the Israeli Shekel is one of the most widely traded currencies in the world. It is currently ranked 23rd in the list of most traded currencies. The global trading volume of the Shekel is comparable to those of the Czech Koruna and Turkish Lira.
eToro Keeps Expanding List Of Supported Assets
The addition of the Israeli currency trading pairs on eToro comes at a time when the broker is very rapidly expanding its list of supported assets. Just recently, the platform added European Natural Gas to its list of trading instruments. EuroNatGas is one of the major energy sources in Europe and accounts for around a quarter of the EU’s energy needs.
The European Natural Gas derivatives on the platform are bound to expire every month, closing any opened positions. Before this, the leading social trading platform also listed non-leveraged Australian stocks. These instruments can be traded as real stocks, unlike CFD positions in other markets.
eToro Scraps SPAC, Raises $250 Million
In other news, eToro recently secured $250 million in funding at a $3.5 billion valuation. The latest funding comes after the company discarded its plans to go public via Special Purpose Acquisition Company (SPAC). According to eToro CEO Yoni Assia, unlike conventional equity rounds, the funding will be based on an Advanced Investment Agreement (AIA).
Apart from expanding the list of trading instruments on its platform, eToro is also improving its trading tools. Recently, the firm partnered with Tradingview to announce a major charting upgrade. Tradingview provides advanced charting tools and indicators for traders that can be integrated into online brokers.