eToro Agrees to Acquire TradeZero in $231M US Expansion, Stock Tanks 10%

In brief

• eToro agreed to buy TradeZero, a US active-trader brokerage, for up to $231 million, it said Tuesday.
• The deal adds broker-dealer infrastructure and Canadian market access; it's expected to close in the first half of 2027.
• eToro's US crypto lineup stays narrow after a 2021 SEC settlement restricted it to Bitcoin, Ethereum and Bitcoin Cash.

eToro said Tuesday it will buy TradeZero, a US-focused online brokerage that serves active traders, in a deal worth up to $231 million. The agreement, announced by eToro Group Ltd., deepens the platform's push into the American equities market.

TradeZero, founded in 2015, runs commission-free U.S. stock and options trading through its broker-dealer subsidiaries. For eToro, the appeal is the plumbing: next-generation trading platforms, broker-dealer infrastructure, an engaged trader community, and a door into the Canadian market. TradeZero operates across the U.S., Canada, and international markets.

eToro framed the purchase as a shortcut to new U.S. products. "Today's announcement is an important step in building our US business," eToro Co-Founder and CEO Yoni Assia said in a statement. "This combination gives us a faster path to launching new products for US customers and strengthens our offering. Together, we'll innovate faster as we continue building the global financial superapp for the next generation of users."