eToro at $931M revenue
Jan-Erik Asplund
TL;DR: eToro, the social trading platform founded in 2007, has emerged as a major player in the retail investment space by combining traditional asset trading with crypto and paper trading via its signature CopyTrader feature. Sacra estimates that eToro reached $931M revenue in 2024, up 46% YoY, after a period of flat growth in 2022-2023. For more, check out our full report and dataset on eToro.
Founded in Tel Aviv, eToro is social trading platform that supports both equities and crypto that has grown to 3.5 million funded accounts across 75 countries, with 70% of its customer base in Europe and the UK.
Here's our eToro update with key points via Sacra AI:
- Sacra estimates that eToro reached $931 million in revenue for 2024, up 46% year-over-year after revenue remained virtually flat between 2022 ($631M) and 2023 ($630M), with the dramatic turnaround driven by the surge in the crypto market, with crypto trading commission revenue growing from 17% of revenue in 2023 to 38% in 2024.
- While Robinhood dominates the U.S. market with 25.2M funded customers (compared to eToro's 3.5M), eToro's international footprint—with 70% of funded accounts in Europe/UK, 16% in Asia Pacific, 10% in Americas, and 4% in Middle East/Africa—provides strategic advantages in markets with significantly lower retail investment penetration (7% in Europe vs. 58% in U.S.), positioning eToro to capture a disproportionate share of the forecasted 22 million new European brokerage accounts by 2028.
- Looking ahead, eToro is launching options trading for non-U.S. users in 2025 (aiming to capture a revenue stream that generates 33% of Robinhood's transaction revenue), going after geographic expansion through activation of its Singapore license and continued growth in the Middle East, and aiming to further capitalize on the underpenetrated European retail investment market where penetration sits at just 7% compared to 58% in the U.S.—representing a potential 22 million new brokerage accounts in Europe by 2028.
For more, check out this other research from our platform:
- Arjun Sethi, co-CEO of Kraken, on building the Nasdaq of crypto
- Kraken (dataset)
- David Ripley, COO of Kraken, on the future of cryptocurrency exchanges
- Kraken at $1.5B up 128% YoY
- Chainalysis
- Auston Bunsen, Co-Founder of QuickNode, on the infrastructure of multi-chain
- Q&A with Raihan Anwar and Colby Holliday from Friends with Benefits
- Farooq Malik and Charles Naut, co-founders of Rain, on stablecoin-backed credit cards
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