eToro acquiring TradeZero for up to $231 million in U.S. expansion push
The Israeli-founded trading platform is acquiring a brokerage with U.S. and Canadian operations, broker-dealer infrastructure and a base of active traders as it seeks to broaden its offering in North America.
eToro has agreed to acquire TradeZero, a U.S.-focused online brokerage serving active traders, for up to $231 million, in a deal that would give the Israeli-founded trading platform greater access to the American market and, crucially, the broker-dealer infrastructure needed to expand its offering there.
The consideration will consist of cash and up to 2.5 million newly issued eToro Class A shares, subject to customary purchase price adjustments. The transaction is expected to close in the first half of 2027, pending regulatory approvals.
For eToro, the deal is less about adding another trading app than about acquiring capabilities that could otherwise take considerable time to build.
TradeZero, founded in 2015, operates across the U.S., Canada and international markets. Its business includes trading platforms, broker-dealer infrastructure and a community of active traders, as well as access to the Canadian market.
That infrastructure is particularly significant in the U.S., where regulatory and brokerage requirements can make launching financial products more complicated than simply adapting technology developed elsewhere.
“Today's announcement is an important step in building our US business,” eToro co-founder and CEO Yoni Assia said.
The companies described the two businesses as complementary, with eToro expecting the combination to allow it to launch new products for U.S. customers more quickly.
The acquisition comes as eToro, which was founded in 2007 and is now listed on Nasdaq, continues to build out its global trading and investing platform. The company says it has millions of users across 75 countries. eToro currently has a market cap of around $2.7 billion, falling over 38% over the past year.
TradeZero adds a more specialized customer base. Its business is built around active traders, giving eToro access to a group whose needs and trading behavior differ from those of the broader retail-investor audience that has traditionally been central to online investing platforms.
The financial terms also provide some indication of the size of the business eToro is acquiring.
TradeZero generated approximately $80 million in revenue in the 12 months ended June 30, 2026, with a gross margin of 81%. At the maximum purchase price of $231 million, the deal values the company at roughly 2.9 times its annual revenue, although the final consideration will depend on the structure of the transaction and customary adjustments.
Jefferies served as exclusive financial adviser to eToro.
