eToro agreed to acquire US online brokerage TradeZero for up to $231M in cash and new shares, its biggest move yet to expand in the American market.

Founded in 2015, TradeZero brings broker-dealer infrastructure, execution technology and access to Canada, on roughly $80M of revenue at an 81% gross margin. eToro says the deal is accretive in year one and adds an experienced active-trader team.

Unveiled alongside eToro's Q2 earnings beat, the acquisition is expected to close in the first half of 2027, subject to regulatory approvals.