eToro partners with Twitter to empower the new $Cashtags feature

Online forex broker eToro has announced that it is partnering with Twitter to enable Twitter users to see real-time prices for a far wider range of stocks, crypto, and other assets when using the new $Cahstages feature. This is a win-win corporation, which can bring convenience to all traders who use Twitter.

About eToro

eToro is an online forex broker that was established in 2007. It is a social media-focused and multi-asset brokerage platform. With an emphasis on social trading and copy trading, it provides a variety of financial instruments, such as stocks, FX, cryptocurrencies, and commodities. WikiFX has given this broker a high score of 7.52/10. A broker with such a high score must be regulated. eToro is regulated by ASIC with a license number 491139, CySEC with a license number 109/10, and FCA with a license number 583263.

The new $Cashtags feature on Twitter

Elon Musk-led Twitter continues its foray into the world of finance, announcing a tie-up with trading and investing platform eToro on Thursday. The newly rolled-out initiative will expand existing features, allowing users to see the real-time price, view market charts, and buy and sell stocks and other assets from the social trading company.

According to the company, a cashtag is a “company ticker symbol preceded by the U.S. dollar sign (eg $TWTR)”. A glossary of terms on the official website explains that one can see all tweets mentioning the same ticker symbol when they click on a cashtag. Twitter added pricing data for $Cashtags in December 2022 and the feature has seen widespread adoption with more than 420 million searches for $Cashtags since the start of the year.

A later update saw the Twitter Business account reveal that search results would now include the pricing graphs for major symbols.

Response from both sides

Yoni Assia, CEO and Co-Founder of eToro said:“Financial content on social media has provided education to many who have felt excluded by more traditional channels. Twitter has become a crucial part of the retail investing community – its where millions of ordinary investors go every day to access financial news, share knowledge, and converse. As the social investing network, eToro was built on these very principles – community, knowledge-sharing, and better access to financial markets. There is power in shared knowledge and by transforming investing into a group endeavor, we can yield better results and become more successful, together.”

Chris Riedy, Vice President, Global Sales & Marketing at Twitter, said: “Twitter is whats happening and what people are talking about right now. We believe real change starts with conversion and finance and investing is a growing part of that conversation. We are pleased to partner with eToro to provide Twitter users with additional market insights and greater access to investment capabilities. Twitter will continue to invest in growing the #FinTwitter community.”