An update from Tuval Chomut, Chief Solutions Officer at eToro
We want to sincerely apologize for the issues that some of our clients have experienced opening positions at moments over the past three days. We want to reassure you that all of our production and development teams are working 24/7 to resolve the issue and that we are confident that we will find a solution.
We have isolated the problem to an issue between our system and the operating system and we are working hand in hand with senior staff at Microsoft to find a solution.
One advantage of being a social platform is the understanding we have of our clients and the level of engagement we have with you. I have seen the speculation that this is an issue around trading volumes and I want to address this directly.
I can assure you that our platform can handle the volumes we are seeing and more. In fact we are continuing to enhance our systems to handle volumes up to 100x what we are currently seeing as we grow as a platform and as we continue to add more assets to our offering.
I have worked in this industry for over 30 years. 22 of those years were at global broker dealer ITG which processed 2-10% of global trading volumes.
My role as eToro’s Chief Solutions Officer is to bring that experience to bear as eToro continues to scale in size and in offering. My top priority is to bring our clients the most reliable, efficient and secure trading and investing experience. As a business we are investing millions of dollars and hours of manpower to ensure that we not only meet but surpass client expectations.
At times this week we have not met our clients expectations, we understand your frustration, and we apologize wholeheartedly.
Sincerely,
Tuval Chomut, Chief Solutions Officer at eToro