eToro to Acquire TradeZero in $231 Million Push Into US Active Trading

eToro Group Ltd. announced on August 11, 2026 that it has agreed to acquire TradeZero, a US-focused online brokerage built for active and day traders, in a deal valued at up to $231 million. The consideration includes a mix of cash and up to 2.5 million newly issued Class A common shares, subject to customary adjustments.

TradeZero generated approximately $80 million in revenue over the twelve months ended June 30, 2026, with an 81% gross margin, and eToro expects the deal to be accretive to adjusted earnings per share in its first year. The transaction is subject to regulatory approval and is expected to close in the first half of 2027.

Founded in 2015, TradeZero operates broker-dealer subsidiaries across the Bahamas, the US, Canada, and the EU, offering commission-free stock and options trading along with proprietary short-locator technology built for active traders. eToro CEO Yoni Assia called the deal an important step in building the company's US business, while TradeZero co-founder Daniel Pipitone said joining eToro gives his team the scale to accelerate innovation. Jefferies advised eToro on the deal, and J.P. Morgan Securities advised TradeZero.

Knote: With Robinhood expanding crypto trading into the UK, it only seems fair that eToro expands into the US. The Company says they expect it to be accretive in year 1, which makes sense to us since we believe TradeZero is profitable and most of the deal is cash. And eToro has arguably way too much cash on the balance sheet (about $1.2B of its $2.4B market cap last we looked).