eToro Agrees to Acquire TradeZero in $231M US Expansion, Stock Tanks 10%
eToro agreed to buy TradeZero, a U.S.-focused online broker for active traders, for up to $231 million in cash and newly issued shares. The deal would give eToro faster access to U.S. equities products, broker-dealer infrastructure, and TradeZero’s trader community, while also expanding its reach into Canada. TradeZero operates commission-free U.S. stock and options trading and reported about $80 million in revenue with 81% gross margins over the past year. The acquisition supports eToro’s push to compete more directly in U.S. equities, where Robinhood and other major brokers dominate. It also comes as eToro’s U.S. crypto offering remains limited after a 2021 SEC settlement. Despite beating quarterly earnings estimates and growing funded accounts, eToro’s stock fell sharply on the announcement. The deal is expected to close in the first half of 2027, pending regulatory approval.
