eToro Achieves SOC 2 Type II Compliance Certification

• eToro, the Israeli social trading network, has successfully completed the Type II Service Organization Control (SOC 2) certification audits.
• This certification is a significant industry-standard that measures the security, availability, processing integrity, confidentiality, and privacy of customer data.
• The audit was conducted by consulting firm Grant Thornton and confirms eToro’s adherence to AICPA trust services criteria.

eToro, a leading social trading network, has achieved SOC 2 Type II Compliance Certification, reinforcing its commitment to data security and privacy. The certification comes as the company targets a valuation of over $3.5 billion.

eToro’s Commitment to Data Security and Privacy

eToro’s successful completion of the SOC 2 Type II certification audits is a testament to their commitment to maintaining the highest levels of data security and privacy. The certification ensures that eToro’s information security practices, policies, procedures, and operations meet the stringent standards set by the American Institute of Certified Public Accountants (AICPA). This certification is a significant milestone for eToro, as it demonstrates their ability to implement critical security policies and prove compliance over an extended period.

Implications for eToro’s Future

As eToro targets a valuation of over $3.5 billion and considers a listing in the United States or London, this certification could play a crucial role in attracting investors. The company’s founder and CEO, Yoni Assia, has highlighted the appeal of the US market, noting that retail investors in the UK and Germany show a strong preference for trading US stocks due to the market’s deep liquidity. However, with nearly 70% of its revenues generated in Europe and the UK, eToro may opt for a London listing.

A Boost for eToro’s Reputation

The SOC 2 Type II Compliance Certification is a significant boost for eToro’s reputation, showcasing their dedication to operational excellence and commitment to safeguarding their clients’ data security and privacy. Deputy CEO and COO Hedva Ber emphasized this commitment, stating, “Our clients entrust us with their money and in return we commit to having the very best systems and processes in place to safeguard both those funds and their data.”

Conclusion

In conclusion, eToro’s achievement of the SOC 2 Type II Compliance Certification is a significant milestone that underscores their commitment to data security and privacy. As the company targets a higher valuation and considers a public listing, this certification could play a crucial role in attracting investors and boosting their reputation in the market.