250px|thumb|right|Yoni (left) and Ronen Assia, and their father, David Assia, former chairman of eToro
eToro Group Ltd. is an Israeli company that operates an electronic trading platform and social trading system. The company is organized in the British Virgin Islands and headquartered in Bnei Brak, with a United States headquarters in Hoboken, New Jersey. in Tel Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring. Later that year, the firm released an Android app.
In 2013, eToro expanded its product range, allowing investments in stocks and CFDs alongside commodities and currencies, with an initial offering of 110 stocks that later grew to over 3,000 financial products. In May 2013, it was authorized to provide services in the UK under its eToro UK subsidiary. By 2014, some referred to eToro as "Israel's biggest export."
In November 2014, it introduced currency futures investments for the Russian ruble and Chinese yuan.
In December 2017, eToro partnered with CoinDash to develop blockchain-based social trading. The following year, it raised $100 million in private funding, bringing total investment to over $162 million from various firms.
In June 2018, eToro set up a trading desk in London to cater for institutional investors looking to invest in crypto.
In November 2018, eToro launched cryptocurrency wallets for Android and iOS.
In March 2019, eToro acquired Danish blockchain company Firmo. In October 2019, eToro released a sentiment-based cryptocurrency portfolio that uses AI to assess Twitter's real-time sentiment on digital assets. Shortly after, in November 2019, eToro acquired Delta, a crypto portfolio tracking app based in Belgium. In March 2019, the company launched its cryptocurrency trading platform and standalone cryptocurrency wallet for US users.
In 2020, eToro acquired Marq Millions, its UK e-money division, rebranding it as eToro Money, and obtained Visa's primary membership along with an electronic money institution (EMI) license from the UK's Financial Conduct Authority. In December 2021, it launched the eToro Money debit card for UK residents. In 2021, the company reported operating in 140 countries and having 20 million users.
In January 2021, eToro informed its European clients that "due to extreme market volatility in the crypto markets," margin positions for all leveraged crypto positions needed to be converted into non-leveraged. Customers were warned that failure to comply would lead to position closures within four hours.
In July 2021, The Times of Israel exposed dozens of cases of staffing connections between eToro and Israel's largely fraudulent binary options industry.
In March 2022, eToro liquidated customer positions in Magnit stock (MGNTL.L), compensating customers at $0.01 per share. Prior to the 2022 Russian Invasion of Ukraine, Magnit shares were valued at $14.20 per share. Investors holding Russian American (ADRs) and global depository receipts (GDRs) argued that the forced closure was unlawful and initiated a petition, which quickly garnered a thousand signatures. Following intense backlash, petitions, and complaints from users who saw their holdings forcefully closed without consent, the brokerage reversed course and offered a one-time reimbursement.
In June 2022, eToro (Europe) Ltd, a European subsidiary, was registered with the Autorité des marchés financiers (AMF) as a digital asset service provider (DASP). In September 2023, eToro obtained its registration as a Crypto Asset Service Provider (CASP) with the CySEC.
In July 2022, eToro laid off approximately 100 employees, or around 6% of its workforce.
In August 2022, eToro signed a definitive agreement to acquire Gatsby, a fintech startup specializing in options and stock trading, for $50 million in cash and stock. In April 2023, the company announced a partnership with Twitter to allow users to click on ticker symbols preceded by a dollar sign, redirecting them to an eToro trading page.
In November 2022, eToro purchased a Lisbon-based portfolio management tools provider, Bullsheet, for an undisclosed sum.
In April 2023, eToro became a partner for X's cashtags, providing real-time asset prices for stocks, exchange-traded funds (ETFs), commodities and cryptocurrencies.
In July 2023, eToro secured approval from the Bank of Spain as a virtual currency exchange and electronic wallet custody service provider.
In October 2023, eToro announced partnership with iShares by BlackRock on the US Exchange-Traded Fund (ETF) courses in equities and bonds.
In November 2023, the company received an approval from Financial Services Regulatory Authority (FSRA) of ADGM to launch in the UAE and added ISA offering.
In 2024, Yoni Assia disclosed eToro’s acquisition of a content automation company Deep.
In March 2024, the company announced that it is considering New York or London as potential venues for an initial public offering (IPO). In December 2024, eToro hired Goldman Sachs to lead its IPO in the United States, planned for 2025. In January 2025, eToro confidentially filed documents with the U.S. Securities and Exchange Commission (SEC), aiming for a valuation exceeding $5 billion.
In June 2024, eToro announced a financial education partnership with X for the UK, Germany, France, Italy, Spain, the UAE and the US markets. The same year, the company launched the eToro Academy.
In July 2024, eToro announced a partnership with the London Stock Exchange, aiming to add over 1,000 new UK stocks in the coming months. That month, it also collaborated with Bocconi University and joined the European FS Financial Services Tech Hub. In September 2024, eToro acquired the Australian app Spaceship for nearly $55 million.
In August 2024, eToro partnered with Dubai Financial Market (DFM), in September 2024 with Deutsche Börse for German stocks listed on the Frankfurt Stock Exchange, in October 2024 with Ark Invest to launch a technology-focused ETF portfolio. In November 2024, the company received a license to operate in New York.
In February 2025, eToro (Europe) Ltd received a permit from the CySEC to offer crypto services in the EU under the Markets in Crypto-Assets Regulation (MiCA).
Financing
thumb|The founder of eToro, Yoni Assia, during the eToro IPO launch event at [[Nasdaq]]
In 2007, eToro raised $1.7 million in Series A funding from Cubit Investments, Chemi Peres, and other investors. In March 2009, eToro raised $6.3 million in a series B round from BRM Group, Cubit Investments, and others.
In June 2010, eToro raised $2.4 million in a third funding round led by Social Leverage.
In March 2012, the company raised $15 million in a funding round led by Spark Capital with participation from existing investors BRM, Guy Gamzu and Jonathan Kolber.
In December 2014, the company raised $27 million from Ping An Insurance and SBT Venture Capital, along with a credit facility from Silicon Valley Bank.
In March 2018, the company raised $100 million at an $800 million valuation in a funding round led by China Minsheng Financial, with SBI Group, Korea Investment Partners and others participating.
In March 2021, eToro announced plans to go public via a merger with a special-purpose acquisition company (SPAC) backed by former Bancorp CEO Betsy Z. Cohen. However, due to market instability and internal challenges within the SPAC, including "material weaknesses" in its financial controls, the deal was canceled in July 2022.
In March 2023, the company raised $250 million at a $3.5 billion valuation. Investors included ION Group, Social Leverage, SoftBank and Spark Capital.
In May 2025, the company became a public company via an initial public offering.
Marketing campaigns and sponsorships
In 2020, eToro released a high-profile ad starring Alec Baldwin that quickly accumulated 3 million views on YouTube.
In February 2022, eToro aired its first Super Bowl commercial during Super Bowl LVI, also dubbed the "Crypto Bowl." The 30-second ad, titled "Flying Your Way," featured a consumer seeking cryptocurrency advice while crypto enthusiasts descended from the sky, asking, "To the moon?" The commercial also highlighted a Shiba Inu dog, referencing the meme coin Shiba Inu (SHIB), and included an appearance of a Bored Ape NFT, targeting a crypto-savvy audience.
As of 2024, eToro's sponsorship portfolio encompasses five English Premier League clubs (Crystal Palace, Everton, Leicester City, Southampton, and Burnley), five Bundesliga teams (Eintracht Frankfurt, FC Augsburg, 1. FC Köln, Hamburger SV in Bundesliga 2, 1. FC Union Berlin, and VfL Wolfsburg), as well as the UK's Premiership Rugby Cup, Spain's Basketball Liga ACB, and Rugby Australia. In September 2024, eToro signed a two-year sponsorship agreement with Bayer 04 Leverkusen.
In July 2024, eToro collaborated with Lightricks' LTX Studio to produce an AI-generated advertisement that broadcast during the 2024 Summer Olympics in Paris.
Legal and regulatory issues
CySEC, 2013
In 2013, CySEC fined eToro €50,000 due to weaknesses identified in its organizational and operational structure, dating back to 2010.
Quebec blacklist, 2015
In 2015, Quebec authorities placed eToro on a blacklist of unauthorized foreign companies, citing its encouragement of local residents to invest in binary options through its platform.
Misleading advertising in Italy, 2023
In 2023, the Italian Competition Authority fined eToro €1.3 million for misleading advertising. The Authority found that eToro's Italian website promoted zero-commission share trading but did not disclose various costs and financial risks, such as currency exchange fluctuations and operational limitations on customer rights. These omissions led consumers to make choices they might not have otherwise made, in violation of Articles 20, 21, and 22 of the Italian Consumer Code.
ASIC lawsuit, 2023
In August 2023, the Australian Securities and Investments Commission filed a case against eToro Aus Capital Limited in Federal Court, alleging that the company of lack of compliance, more specifically, of violation of design and distribution obligations. The screening test for onboarding clients was so lax that nearly anyone could qualify. ASIC argued that eToro's target market for CFDs was overly broad for such a high-risk product. Between 5 October 2021 and 14 June 2023, almost 20,000 eToro clients reportedly lost money.
US SEC lawsuit for unregistered crypto trade, 2024
An investigation by the U.S. Securities and Exchange Commission discovered that since at least 2020, eToro operated as an unregistered broker and clearing agency, facilitating crypto asset trading as securities. On 12 September 2024, eToro USA LLC agreed to pay a $1.5M penalty to settle charges, no comments had been given to admit or deny the SEC's findings. The US clients were given 180 days to liquidate other crypto positions, with only Bitcoin, Bitcoin Cash, and Ether remaining available for trade.
Operating without proper licensing in Malaysia
In May 2020, eToro announced the expansion of its commission-free offering to customers in the Asia-Pacific region. In response to eToro's announcement, the Securities Commission Malaysia (SC) publicly stated that eToro was operating without proper licensing in the country. The company stated that Asian investors are regulated under its ASIC license and can trade through it.
Illegal forex operations in India
In September 2022, the Reserve Bank of India (RBI), India's central bank, released a list of 34 unauthorised forex trading online platforms, which included eToro. It later updated the number of platforms to 88.
Operating without proper licensing in Philippines
On 14 March 2024, the Securities and Exchange Commission of The Philippines issued an advisory against eToro. The company was marketing its offerings to Filipinos and allowed them to open accounts without the necessary license, an act punishable in the Philippines with up to 21 years in prison. The company spokesman denied active promotion of its services in the Philippines and highlighted that it has no local presence in the country. In October 2024, the company announced that it will stop operations in the Philippines citing "risk management considerations". Philippines residents' access to all accounts will be stopped on 15 February 2025.