Options as Revenue Lever for eToro

Options matter because they turn the same customer into a much higher value trader. A stock investor might place a few buy and sell orders each month, while an options trader can place many short dated bets around earnings, index moves, or hedges, each one creating another chance to earn trading revenue. Robinhood shows the scale of that step up, with options producing $760M of 2024 revenue, or about 46% of transaction based revenue. For eToro, adding options is less about filling a product gap and more about raising revenue per active trader without needing a comparable jump in user count.1 2 3

• The revenue model is different by market, but the wallet share prize is the same. Robinhood monetizes options largely through payment for order flow, while eToro, operating across markets where PFOF is restricted, leans on spreads and conversion fees. Even so, options still add more trades, more session time, and more reasons to keep cash on platform.2 3 4
• This also pushes eToro closer to the all assets account model emerging across retail brokerages. Recent market leaders are stacking stocks, crypto, options, futures, and eventually prediction or tokenized products into one app, because each added product keeps more of the customer’s capital circulating inside the same account.3 5 6
• There is infrastructure behind the launch, not just a new tab in the app. Providers like Alpaca are building the clearing and brokerage rails that let non US platforms offer U.S. equities, margin, and options internationally, which lowers the operational barrier for firms like eToro to broaden product depth outside the U.S.6

The next step is a brokerage where options, futures, tokenized equities, and crypto all sit in one balance and trade around the clock. If eToro executes, options become the bridge from a social stock app into a denser trading platform, with higher revenue per funded account and a stronger hold on internationally active traders.1 3 5