eToro

What eToro does

eToro is a publicly traded (Nasdaq: ETOR) multi-asset social-investing platform founded in 2007 in Israel and headquartered in Cyprus. It serves more than 40 million registered users across 75+ countries via a single web and mobile app that combines brokerage execution (stocks, ETFs, crypto, indices, commodities, currencies) with a two-sided social-trading network built around CopyTrader and the Popular Investor Program. Core architecture includes the Tori AI investing companion (integrated with xAI Grok 4.2 for real-time X-based market sentiment), Agent Portfolios for AI-driven sub-portfolio execution, Alpha Portfolios and Smart Portfolios using AI-driven strategies (PureMomentum, ProPicks), and the eToro App Store / Builders Portal — an MCP-server-enabled marketplace launched April 2026 for third-party trading and analytics apps. Post-Zengo acquisition (April 2026, ~$70M), the platform also offers an MPC-based non-custodial wallet (GoodWallet) reaching 2M+ users in 180+ countries.

eToro operates under license from FCA (UK), CySEC (Cyprus), ASIC (Australia), ADGM FSRA (UAE), FSAS (Seychelles), and the New York BitLicense plus Money Transmitter License — completing a 48-state US footprint with the April 2026 New York crypto launch. Client funds are custodied at J.P. Morgan, UBS, Citi, Deutsche Bank, Coutts, J. Safra Sarasin, and Pictet, and regional tax wrappers include the UK ISA (powered by Moneyfarm), Australian SMSF, and French PER. Revenue is generated primarily through trading commissions and spreads (flat-fee stocks, 0% ETF commission, 1% on crypto, spreads on CFDs), interest on customer cash balances (up to 3.55% annual), currency-conversion fees, and Club / premium-tier subscriptions; crypto trading volume was $12.98B of the $13.8B total revenue in 2025, making the headline top-line volatile while net contribution ($258M in Q1 2026, +19% YoY) and adjusted EBITDA ($109M, 42% margin) show the underlying franchise economics.

FY2025 GAAP revenue was $13.8B with net income of $216M (+12% YoY); Q1 2026 delivered net income of $82M (+37% YoY), record net inflows of $4.6B, AuA of $20.1B (+18% YoY), and 4.23M funded accounts. eToro completed its US IPO on Nasdaq in 2025 after abandoning a 2022 SPAC merger that had implied an $8.8B valuation; in June 2026 the company disclosed via the Financial Times that it is working with investment bankers on potential banking-licence applications and two wealth-technology acquisitions, signalling a strategic pivot from broker toward bank-and-wealth platform.

Name

eToro

Legal name

eToro Group Ltd.

Website

https://etoro.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

eToro is a Nasdaq-listed multi-asset social-investing platform serving 40M+ retail users across 75+ countries, combining brokerage (stocks, ETFs, crypto, CFDs) with CopyTrader, AI-driven Smart Portfolios, the Tori AI companion, and Agent Portfolios under FCA, CySEC, ASIC, ADGM, and NY BitLicense regulation.

Ownership category

akta.pro rank

Product category

Retail Brokerage (Social Trading)

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities and Commodity Exchanges (5232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)

akta.pro secondary industries

Brokerages & On/Off-Ramps (fiat rails, instant buy/sell) (FSAPADAG), Copy Trading, Social Trading & Automated Trading Platforms (FSADAAAK), Digital Asset/Crypto Trade Execution Platforms (FSAFANAO)

Keywords

• Social trading platform
• Retail brokerage
• Copy trading
• Crypto exchange
• Multi-asset investing

Headquarters

HQ city

Tel Aviv

HQ country

Israel

HQ region

Middle East

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Trading commissions and spreads: Flat fee per stock trade ($1 or $2 depending on country/exchange), 0% commission on ETFs, 1% on cryptoasset positions, plus spreads on CFDs/currencies/commodities. Spread-driven CFD revenue across indices, FX, commodities.
2. Interest on cash balance: Up to 3.55% annual interest paid on customer cash balances, with monthly payments and no commitment; revenue derived from yield on client funds held at top-tier banks.
3. Currency conversion fees: FX/conversion fees applied on trades and currency conversions (e.g., to local currencies like GBP/USD).
4. eToro Club membership / premium services: Tiered membership program offering premium advantages, services, and offers to active/retained users (e.g., eToro Club).
5. Derivatives / CFD trading revenue: Revenue from CFD (Contracts for Difference) trading including indices, commodities, currencies, and leveraged positions. Core source of commission-driven revenue.
6. Referral / affiliate revenue: Refer-a-friend program offering earning opportunities (e.g., earn up to $500 per referral) and an Affiliate Program via etoropartners.com.
7. Capital markets / commodities trading commissions: Driven by commodities activity (60% of trading commissions in Q1 2026, with capital markets net contribution of $166M, up 71% YoY). Includes equities, commodities, currencies net contribution.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels11 records

Core offering

eToro operates a multi-asset social investment platform that allows retail investors to trade stocks, ETFs, cryptoassets, indices, commodities, and currencies through a single web and mobile app. The platform combines brokerage execution with a proprietary social trading network (CopyTrader), AI-driven investing tools (Tori, Smart Portfolios, Agent Portfolios), self-custody crypto wallets (GoodWallet / Zengo MPC), and tax-advantaged wrappers (UK ISA, Australian SMSF, French PER). Client funds are custodied at top-tier banks (J.P. Morgan, UBS, Citi, Deutsche Bank, Coutts, J. Safra Sarasin, Pictet), and the platform is licensed by FCA, CySEC, ASIC, ADGM FSRA, NY BitLicense, and FSAS.

Product overview

eToro operates as a multi-asset social investment platform (the core eToro Trading Platform) serving over 40 million registered users across 75+ countries, offering trading in stocks, crypto, ETFs, indices, commodities, and currencies within a single unified app. The platform extends through several core feature modules including CopyTrader for social trading replication, Smart Portfolios (including AI-driven Alpha Portfolios such as ProPicks and PureMomentum) for curated and AI-powered portfolio strategies, and Tori (the AI investing companion powered by xAI Grok 4.2) for conversational market intelligence. Crypto functionality spans the integrated eToro Wallet (custodial), GoodWallet (non-custodial Web3 access), a staking service yielding up to 12% APY, and the recently acquired Zengo self-custody wallet. Trading tools include CFD Trading, eToro Options, Spot-Quoted Futures, ProCharts (powered by TradingView), and Recurring Investments for automation. Specialized products include the eToro ISA (powered by Moneyfarm), eToro Money debit card, eToro SMSF for Australian self-managed super, and PER for French retirement savings. The eToro App Store provides a developer marketplace with API access, MCP server, and CLI tooling for third-party app creation, complemented by Agent Portfolios that enable AI-driven trading via scoped API keys. eToro has expanded through strategic acquisitions including Bullsheet (portfolio management), Gatsby (options trading), Spaceship (Australian superannuation), and Bit2C (Israeli crypto exchange).

Differentiator

Problem solved

Functional benefit

Brands

• eToro Club: Premium membership program offering tiered advantages, service, and offers for high-value investors.
• Tori
• GoodWallet
• Delta
• eToro App Store

Products and services

• eToro Trading Platform Multi-asset investment platform offering trading in 6,000+ stocks across 20 exchanges, 300+ ETFs, 100+ cryptocurrencies, indices, commodities, and currencies through a single web and mobile app, with social investing features and $20.1 billion in AuA.
• CopyTrader

Quantifiable outcome

• 40 million registered users across 75+ countries
• +7 more outcomes

Segments8 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability11 records

Feature9 records

Partnerships

18 partnerships are on record, tiered core and minor.

• Singpass (Singapore)coreTechnology or Integration · 23 June 2026Integration with Singapore's national digital identity system enabling Singapore residents to verify their eToro trading accounts quickly without uploading identification documents; retrieves personal information directly and securely from Singpass.
• SpaceX (IPO distribution)coreChannel Partner/ Reseller/ Distributor · 12 June 2026Selected as one of seven European platforms (with Revolut, Hargreaves Lansdown, Marex Financial, TradeRepublic) to offer retail investors access to SpaceX's IPO across seven European countries; reserved 55.6 million newly issued Class A shares for individual investors.
• xAI (Grok 4.2)coreTechnology or Integration · 16 April 2026Integration of xAI's Grok 4.2 into eToro's Tori AI investing companion to deliver real-time market sentiment from X. Three upgrades to Tori: persistent memory, real-time market sentiment from X powered by Grok 4.2, and AI-driven Agent Portfolios.
• ZengocoreStrategic or Co-development Partner · 15 April 2026Israeli self-custodial crypto wallet provider acquired by eToro for approximately $70 million (mostly cash). Brings MPC-based keyless wallet technology serving 2M+ users across 180+ countries, enabling tokenized assets, DeFi, prediction markets, and perpetual futures. eToro's first acquisition since IPO.
• Midnight Foundation (Google Cloud, MoneyGram, Pairpoint by Vodafone)coreStrategic or Co-development Partner · 27 February 2026eToro, MoneyGram, and Pairpoint by Vodafone joined as federated node operators for Midnight, a privacy-enhancing blockchain. Together with Google Cloud, Blockdaemon, Shielded Technologies, and AlphaTON Capital, the network totals 10 institutional node operators. Each plans to integrate Midnight into their platforms.
• SpaceshipcoreStrategic or Co-development Partner · 26 September 2024Acquired by eToro in a deal potentially valued at up to AUD 80 million to expand eToro's presence in Australia and the global long-term savings sector. Spaceship brought 200,000+ clients and AUD 1.5 billion in assets under management, with high-performing superannuation portfolios integrated into eToro's platform.
• BullsheetminorStrategic or Co-development Partner · 28 October 2022Portfolio management business acquired by eToro for approximately USD 50 million in cash and stock. Bullsheet's tools are being integrated into eToro's platform, and its founders joined the product development team.
• GatsbycoreStrategic or Co-development Partner · 17 August 2022France-based options trading platform focused on younger investors, acquired by eToro for approximately $50 million. Gatsby's 20 employees joined eToro to enhance product portfolio and compete with Robinhood, expanding eToro's US presence.
• J.P. MorgancoreStrategic or Co-development PartnerTop-tier banking partner that holds client funds and assets for the eToro Group. Listed as a banking partner on etoro.com homepage alongside UBS, Citi, Deutsche Bank, Coutts, J. Safra Sarasin, and The Pictet Group.
• UBScoreStrategic or Co-development PartnerTop-tier banking partner holding client funds and assets for the eToro Group; UBS logo linked on etoro.com.
• CiticoreStrategic or Co-development PartnerTop-tier banking partner holding client funds and assets for the eToro Group.
• Deutsche BankcoreStrategic or Co-development PartnerTop-tier banking partner holding client funds and assets for the eToro Group.
• CouttsminorStrategic or Co-development PartnerTop-tier banking partner holding client funds and assets for the eToro Group.
• J. Safra SarasinminorStrategic or Co-development PartnerTop-tier banking partner holding client funds and assets for the eToro Group.
• The Pictet GroupminorStrategic or Co-development PartnerTop-tier banking partner holding client funds and assets for the eToro Group.
• MoneyfarmcoreStrategic or Co-development PartnerPowers the eToro ISA (UK Individual Savings Account), a tax-free investment wrapper offered to UK customers.
• Mastercard, ING, Worldline (Agentic AI payments)minorStrategic or Co-development PartnerAt Money 20/20 Europe in Amsterdam, completed Europe's first live end-to-end agentic payment demonstration; eToro is identified as a major financial firm actively deploying AI agents for portfolio management and customer service.
• Google Cloud, MoneyGram, Worldpay (Midnight launch validators)minorStrategic or Co-development PartnerCardano's Midnight sidechain launched with Google Cloud, MoneyGram, and Worldpay operating as launch-phase validators alongside eToro.

Scale indicators14 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Robinhood Markets: Public US-headquartered multi-asset retail brokerage offering stocks, ETFs, options, and crypto trading with social/community features. Most direct competitor to eToro in retail multi-asset investing.
• Interactive Brokers: Large multi-asset global brokerage offering stocks, options, futures, FX, bonds, and funds across 150+ markets. Comparable to eToro on breadth of asset classes and global footprint, though skews more professional.
• Plus500: Public multi-asset CFD broker with proprietary trading platform serving retail customers globally. Highly comparable to eToro's CFD/derivatives revenue model and retail orientation.
• IG Group: Global multi-asset online trading platform offering CFDs, spread betting, share dealing, and stock trading. Directly comparable to eToro on multi-asset retail trading and CFD-driven revenue.
• Coinbase Global: Public US-headquartered crypto exchange and brokerage with retail and institutional offerings. Comparable to eToro's large crypto trading revenue stream, custody, staking, and regulated US crypto footprint.
• CMC Markets: Public UK-listed CFD and spread betting broker with global retail and institutional offering. Comparable to eToro on retail CFD/derivatives focus, regulatory licensing footprint, and trading-platform technology.
• Webull: Multi-asset retail brokerage offering stocks, options, ETFs, and crypto via mobile-first platform with social/community features. Comparable to eToro on retail self-serve mobile trading and US/global expansion.
• Trade Republic: European retail broker offering stocks, ETFs, derivatives, and crypto with savings and savings plans. Comparable to eToro's European retail multi-asset brokerage, SpaceX IPO distribution partnership, and ISA/SMSF/PER-style wrappers.
• Trading 212: European retail broker offering commission-free stocks, ETFs, and CFD trading with multi-asset mobile platform. Comparable to eToro on retail multi-asset trading, commission-based pricing, and European distribution.

Emerging players

• Revolut: Global fintech offering multi-asset trading (stocks, crypto, commodities) plus banking, cards, and savings. Comparable to eToro on retail multi-asset investing and global footprint; differs by being a broader super-app with banking license.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/eToro
• Facebookfacebook.com/etoro
• LinkedInlinkedin.com/company/etoro

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles25 records

Subsidiaries4 records

Funding overview

Funding rounds21 records

Investors26 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A10 records

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about eToro