eToro, a trading company, has teamed up with Twitter to offer users access to financial assets, including stocks and cryptocurrencies. According to a report by CNBC, Twitter users can now view market charts and trade assets on eToro through a new feature on the app. This partnership will allow eToro to reach new audiences and connect the brands of Twitter and eToro.
Twitter’s “cashtags” feature enables users to view real-time trading data from TradingView for index funds such as S&P 500 and stocks like Tesla (NASDAQ:TSLA). Users can search for a ticker symbol with a dollar sign, and the app will display price information from TradingView via an API. A spokesperson from eToro has stated that the Twitter cashtags feature will cover a broader range of instruments and asset classes through their partnership.
The CEO of eToro, Yoni Assia, has also added that Twitter provides high-quality, real-time content on financial analysis and global events. The partnership will allow eToro to expand its reach and connect with Twitter’s audience. According to the CEO, “Fintwit” or financial Twitter is a growing trend on the app, used by many to find breaking news and updates on assets. Twitter played a crucial role in the retail trading boom in 2021.
Since the addition of pricing data for $Cashtags in December 2022, there have been over 420 million searches for Cashtags in 2023, averaging about 4.7 million daily. This shows the increasing demand for financial information and trading opportunities on social media platforms.
Users can click the “view on eToro” button, which will direct them to eToro’s platform, allowing them to buy and sell assets. eToro uses TradingView as its market data partner, ensuring that users have access to accurate and up-to-date information.
This partnership is a significant step for eToro, as it expands its reach and provides more opportunities for users to trade financial assets. With Twitter’s large audience, eToro can now connect with a broader range of users and provide them with access to its platform.
In conclusion, the partnership between eToro and Twitter is a promising development for both companies. It allows Twitter users to access financial assets and provides eToro with a new audience. As the demand for financial information and trading opportunities on social media platforms continues to grow, partnerships like this will become increasingly important.