eToro Enhances Security with SOC 2 Type II Compliance Certification

Forex broker eToro recently obtained SOC 2 Type II compliance certification, demonstrating its dedication to protecting user data and provide the best service.

This certification, created by the American Institute of Certified Public Accountants (AICPA), assesses the security, availability, processing integrity, confidentiality and privacy of customer data. The audit, conducted by consulting firm Grant Thornton, confirmed that eToro forex broker meets these stringent AICPA trust service criteria, proving a long-term commitment broker against strong security and compliance measures.

This important milestone comes at a crucial time, as the social trading broker is exploring IPO with goal of valuation exceeding $3.5 billion.

Yoni Assia, founder and CEO of eToro, highlighted the broker's strong year-over-year growth and substantial increase in retail participation rates, drawing parallels with the GameStop story in in 2021.

While the US market is particularly attractive due to its size and retail investor interest, eToro generates 69% of its revenue from the UK and Europe. This geographic distribution of earnings could influence eToro brokers to consider listing in London, which would be a big boost for the UK market as it seeks to attract more IPOs.

In addition to certification and IPO considerations, the multi-asset broker has upgraded its platform and services. eToro recently partnered with 21Shares to introduce new investment portfolios that utilize strategies based on data for cryptocurrency investment.

To learn more about eToro and its latest developments, stay tuned to our forex broker news.