eToro is making its boldest move yet to break into the American retail trading market. The company has agreed to buy TradeZero Holding Corp. in a deal worth up to $231 million, and the eToro TradeZero acquisition gives the Israeli-founded trading platform something it has lacked for years: a fully licensed US broker-dealer with options trading built in. For a company that has spent nearly a decade chasing American retail investors, this is the closest it has come to a real foothold.
Summary
Key takeaways
- eToro Group agreed to acquire TradeZero Holding Corp. for up to $231 million, marking its biggest push into the US brokerage market.
- TradeZero offers commission-free US equities and options trading under SEC, FINRA, and SIPC regulation, and also operates in the Bahamas, Canada, and Europe.
- The deal is expected to speed up eToro’s product rollout in the US, particularly around options trading.
- Regulatory approvals, including a FINRA review, are still pending, with no confirmed completion timeline.
- The purchase follows eToro’s April 2026 acquisition of crypto wallet provider Zengo for roughly $70 million.
eToro’s Acquisition of TradeZero Expands US Brokerage Footprint
The eToro TradeZero acquisition hands eToro a ready-made US broker-dealer instead of forcing it to build one from the ground up. That distinction matters in a market where licensing alone can take years to sort out.
Deal Terms and Strategic Intent
Under the terms disclosed, eToro Group has agreed to pay up to $231 million for TradeZero Holding Corp. The transaction folds TradeZero’s broker-dealer subsidiaries directly into eToro’s structure, giving the platform a commission-free equities and options business it can plug into its existing US operation almost immediately. For a company that already runs zero-commission stock and ETF trading in the United States, absorbing an established, regulated broker rather than applying for new licenses from scratch is a significant shortcut.
TradeZero’s Regulated Operations and Geographic Reach
TradeZero isn’t a small, unregulated startup. It operates under SEC, FINRA, and SIPC oversight, and it built its reputation offering commission-free trading backed by order-routing and execution tools aimed at active traders. Its footprint extends past US borders too, with operations in the Bahamas, Canada, and Europe. That geographic spread hands eToro some flexibility it didn’t previously have in the brokerage side of its business, potentially opening doors beyond the American market alone.
Options Trading Fills a Major Gap in eToro’s US Offering
The biggest strategic prize in this deal isn’t the equities business — it’s options. eToro’s US arm has offered zero-commission stock and ETF trading for a while, but it has never had a serious options product to compete with US-focused platforms built specifically for active traders.
TradeZero’s specialized toolset addresses that shortfall directly. Rather than spending months or years developing options infrastructure internally, eToro can lean on a platform that already has the execution tools, regulatory clearances, and trader-focused features in place. That’s the kind of capability gap that’s hard to close quickly through internal development alone, which is likely why acquisition, rather than in-house buildout, became the preferred route.
Why this matters: options trading tends to attract more active, higher-frequency traders than simple stock investing. Bringing that capability in-house could help eToro deepen engagement among its existing US users while also pulling in traders who previously had no reason to choose eToro over dedicated options brokers.
Regulatory Hurdles and eToro’s Crypto Constraints
The deal still needs to clear regulatory scrutiny before it closes, and eToro’s crypto business in the US remains boxed in by a past settlement with the SEC — a constraint that shapes how far the company can expand its American offering right now.
FINRA Review Still Pending
As of early August 2026, there’s been no public confirmation of a completion timeline, the required approvals, or exactly how the acquisition will be structured. US broker-dealer acquisitions typically trigger their own FINRA review process, and TradeZero’s deal is no exception. Until that review runs its course, the transaction remains pending rather than finalized.
Implications of eToro’s 2024 SEC Settlement
The crypto side of eToro’s US business tells a more restrictive story. A 2024 settlement with the SEC significantly narrowed the digital assets eToro can offer American customers, leaving the company able to provide only Bitcoin and Ether — a far cry from the broader multi-asset crypto lineup it offers users in other markets. That gap between eToro’s US crypto catalog and its international one underscores just how differently the company has to operate depending on jurisdiction.
There is a potential opening, though. eToro holds a New York BitLicense, which keeps the door ajar for a wider crypto relaunch in the state if regulatory conditions shift down the road. It’s not a guarantee of expansion, but it’s a license the company didn’t have to go out and secure from zero, and it signals eToro isn’t treating its US crypto restrictions as permanent.
Building on the Zengo Deal
This isn’t eToro’s first acquisition swing this year. The company bought crypto wallet provider Zengo in April 2026 for approximately $70 million, a deal that strengthened its digital-asset custody capabilities even as its US crypto offering stayed limited under the SEC settlement.
Put side by side, the two deals sketch a pattern: eToro appears willing to buy its way into capabilities it can’t easily build or license on its own, whether that’s crypto wallet infrastructure or a regulated options-trading brokerage. The eToro TradeZero acquisition fits that same logic, betting that regulatory approval and integration work are worth the cost of skipping years of internal development in a US brokerage market that remains fiercely competitive and heavily regulated.
FAQ
What is the value of eToro’s acquisition of TradeZero?
eToro agreed to acquire TradeZero Holding Corp. for up to $231 million.
How does the acquisition benefit eToro’s product offerings in the US?
The acquisition accelerates product innovation and introduces a robust options trading product for eToro in the US market.
Is TradeZero a regulated broker in the US?
Yes, TradeZero operates under SEC, FINRA, and SIPC regulations providing commission-free US equities and options trading.
Are there any regulatory approvals still pending for this acquisition?
Yes, the acquisition is pending regulatory approvals including a review by FINRA.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.
