eToro Acquires TradeZero in $231 Million Deal

eToro Group Ltd acquires TradeZero in a deal valued at up to $231 million, as the Israel-based online broker moves to strengthen its position in the United States and expand its services for active traders. The agreement brings together eToro’s global investment platform and TradeZero’s technology-driven brokerage business.

TradeZero, founded in 2015, focuses primarily on active traders and operates across the United States, Canada, and international markets. Over the last 12 months, the company generated approximately $80 million in revenue and recorded an 81% gross margin. Under the agreement, eToro will pay up to $231 million through a combination of cash and as many as 2.5 million newly issued Class A common shares. However, the final consideration remains subject to customary purchase price adjustments.

eToro Acquires TradeZero in $231 Million Deal

Moreover, eToro expects the acquisition to strengthen its US infrastructure and provide the company with additional access to the Canadian market. TradeZero will bring proprietary trading tools, broker-dealer infrastructure, and an established community of active traders to the combined business. Yoni Assia, Co-Founder and CEO of eToro, described the agreement as “an important step in building our US business.” He added that TradeZero’s technology and infrastructure would provide eToro with “a faster path to launching new products for US customers,” while helping both companies accelerate innovation.

Meanwhile, TradeZero Co-Founder and CEO Daniel Pipitone said the company had built its platform, “by active traders, for active traders.” He called the combination with eToro “an exciting next step,” and highlighted the opportunity to use eToro’s global scale to develop new products and services. Additionally, eToro expects the transaction to increase its adjusted earnings per share during the first year following completion. The companies currently expect to close the acquisition during the first half of 2027, subject to customary closing conditions and regulatory approvals.

Jefferies advised eToro financially, while Simpson Thacher & Bartlett LLP serves as its lead deal counsel. J.P. Morgan Securities advised TradeZero, while Choate, Hall & Stewart LLP serves as TradeZero’s lead deal counsel. Overall, the acquisition gives eToro a broader US trading presence while combining its global reach with TradeZero’s active-trading expertise and infrastructure.

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