eToro: Innovation, Growth, and IPO Plans

Founded in 2007, eToro set out to make investing accessible to everyone. Known for its user-friendly interface, social investing features, and diverse offering of asset classes, the platform has become a global favorite for investors. As it continues to expand both its user base and product offering, eToro now stands at the edge of a long-anticipated debut on the public market. Let's take a closer look.

• Diverse offering: Since its founding in 2007, eToro has expanded its platform to include trading in equities, commodities, currencies, crypto, and more.

• CopyTrader: The company's social investing tool lets users follow and replicate the trades of other investors.

• IPO on hold: eToro filed for an IPO in March 2025 but paused the process due to market uncertainty driven by geopolitical tensions.

eToro was founded in 2007 by brothers Yoni and Ronen Assia. The company was built on the idea to democratize investing by making it accessible to anyone, regardless of financial background or experience. From its inception, the company has embraced a fully digital approach, focused on building an intuitive and user-friendly trading experience.

In the early years, the company operated under the name RetailFX, offering its online forex trading platform, which soon would be accompanied by several other asset classes. By 2009, eToro had introduced commodities trading, followed by the addition of stock trading in 2013.

In 2017, eToro integrated cryptocurrency trading into its platform and has since been a strong advocate for bitcoin and blockchain technology. This strategic adoption has been instrumental in shaping eToro's identity and fueling its global growth. Over the past decade, it has continued to add new offerings while increasing its availability across new jurisdictions worldwide.

During this period, eToro also introduced one of its hallmark features: CopyTrader. This social investing tool allows users to follow and replicate the strategies of others by allocating funds to mirror the trades of other users. The feature blends finance with community, enabling a more collaborative and accessible approach to investing.

eToro's popular CopyTrader feature.

eToro's popular CopyTrader feature.

As of 2025, eToro employs over 1,500 people across 10 global offices, with its headquarters still based in the Tel Aviv area. The platform boasts more than 40 million registered users in 100 countries, including 3.5 million with funded accounts. Founders Yoni and Ronen Assia continue to lead the company, with Yoni serving as CEO and Ronen as Executive Director.

eToro's expansive offering now includes a broad range of asset classes, accessible in an ever-growing number of jurisdictions. In addition to its flagship CopyTrader feature, the platform provides zero-commission stock trading, options trading, and ETF investing – available through a streamlined online platform and mobile app. This commitment to a frictionless, user-first experience remains a cornerstone of eToro's strategy, aligning it with other disruptive, consumer-focused fintech companies like Robinhood and SoFi.

While eToro has built a strong reputation in retail investing, especially through its focus on trading and social features, it currently lacks built-in tools for deeper analysis. In many ways, eToro remains a pure play in trading and social trading, rather than a full-spectrum investment platform.

One potential area for enhancement would be the integration of comprehensive investor relations content, such as earnings calls with real-time transcripts, filings, and presentation materials. These resources, available through solutions like the Quartr API, could allow users to stay within the platform while conducting fundamental research, contributing to a more seamless and informed investment experience.

Adding such features would bring eToro closer to a complete investor toolkit, enhancing the value it already provides and aligning with growing user expectations for accessible, in-platform research tools.

eToro generates income from multiple revenue streams – all broadly in line with how comparable investing platforms monetize user activity. In terms of net contribution (a gross profit-like measure of income from user activity before overhead costs), the company reached $787 million in 2024. More than 60% of this figure came from trading income, primarily order-related fees. Within that segment, around one-third was driven by crypto trading, while the remainder originated from equities, commodities, and currency trading. The other 40% of net contribution came primarily from interest income and money management services such as withdrawals, transfers, and currency conversions.

eToro's net contribution by components since 2022.

eToro's net contribution by components since 2022.

In recent years, signs have pointed to a long-anticipated IPO for eToro drawing closer.

In late March 2025, the company filed its S-1 registration statement, signaling intent to go public on the Nasdaq under the ticker symbol "ETOR." However, just weeks later, it decided to put the listing on hold and await more favorable market conditions amid geopolitical tensions.

This wasn't the first time eToro neared a public debut. Back in 2022, the company had planned to go public via a SPAC merger, a deal that would have valued it at $10.4 billion. That agreement was ultimately terminated by mutual consent before reaching the final stages.

eToro's latest funding round in March 2023 brought in $250 million and valued the company at $3.5 billion. Following this, the company’s business seems to have been trending in the right direction. In 2024, eToro's total commission was $931 million, up from $639 million in 2023. After reporting a net loss in 2022, eToro returned to profitability in 2023 and built on that momentum with a net profit of $192 million in 2024.

Reports tied to its 2025 IPO filing suggest that eToro could target a valuation approaching $5 billion, should it ultimately proceed with its intention to go public.

eToro's strong focus on user experience and continuous innovation has made it one of the most popular retail trading platforms worldwide. Offering every thinkable investment opportunity to over 40 million users, the company appears well-positioned to sustain its momentum and step confidently into the next chapter of its growth story. While its IPO is on hold, the company's strategy of making investing available to everyone remains steadfast.