eToro agrees to buy TradeZero for up to $231 million

eToro Group has agreed to acquire TradeZero Holding Corp. for up to $231 million, the company’s most aggressive push yet into the US brokerage market. The deal brings TradeZero’s broker-dealer subsidiaries under eToro’s umbrella, adding a commission-free equities and options trading operation to a platform that has spent years trying to crack the American retail investing scene.

What eToro is actually buying

TradeZero offers commission-free trading in US equities and options, backed by advanced order-routing and execution tools. It operates under SEC, FINRA, and SIPC oversight, meaning eToro inherits a fully regulated US broker-dealer rather than having to build one from scratch.

TradeZero also has a footprint beyond the US, with operations in the Bahamas, Canada, and Europe, which gives eToro some geographic optionality it did not previously have in the brokerage segment.

The deal follows eToro’s acquisition of crypto wallet provider Zengo in April 2026 for approximately $70 million.

Why options trading is the real prize

eToro’s existing US operation already offers zero-commission trading in stocks and ETFs. What it has lacked is a robust options product. TradeZero’s specialized toolset for active traders fills that gap directly.

The shadow of the 2024 SEC settlement

eToro’s 2024 settlement with the SEC significantly restricted the crypto assets the company can offer American users. eToro was left with a limited selection that includes Bitcoin and Ether, a far cry from the multi-asset crypto experience it offers in other markets.

eToro has also secured a New York BitLicense, which keeps the door open for a broader crypto relaunch in the state if regulatory conditions evolve.

What this means for the competitive landscape

As of August 11, 2026, there has been no public confirmation regarding timelines for completion, required regulatory approvals, or how the acquisition will be structured. US broker-dealer acquisitions carry their own FINRA review processes.

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