How does etoro make money in the US?

At etoro, one of our company values is transparency. As such we wish to communicate how our business makes money.

Our fees and revenue differ based on the etoro entity you are engaged with during a particular transaction. etoro USA LLC is a licensed money services business that provides our crypto offering. etoro USA Securities Inc. is our registered broker-dealer that provides our stock, options, and ETF offering.

etoro USA LLC / Crypto / Money Services Business:

• Crypto Trading Fees

When you buy or sell a crypto asset, we charge you a fee at the time of your transaction. Learn more about our crypto trading fees here.

• Crypto Transfer Fees

When you transfer crypto assets from your etoro investment account to the etoro Money crypto wallet, we charge you a redeem fee. Learn more here.

• Interest on Cash Balance

etoro makes money off the cash balance available in your main etoro platform account by depositing those funds with a bank that offers etoro the ability to hold those funds in a money market account that pays interest to the company.

etoro USA Securities Inc. / Stocks, ETFs, and Options / Broker-Dealer:

• Payment for Order Flow (PFOF)

When you make a stock, ETF, or options trade at etoro it is settled via our clearing firm, Apex Clearing Corporation. Market centers typically pay Apex a small sum to execute these trades and Apex shares a portion with etoro. Learn more about PFOF here and read etoro’s disclosures on that important topic here.

• Interest on Cash Balance

Uninvested cash available in your etoro Options account earns interest through an Apex cash sweep program and Apex shares part of that interest with etoro.

• Margin Interest

etoro offers some limited margin for spread trading in options accounts and might earn interest from a margin loan. The interest we earn is only from when a customer's account goes into a debit position, which happens when they have a returned ACH and owe us money.

• Miscellaneous Brokerage Fees

We may charge fees for specific items relating to your brokerage trading account(s) and activity. See them here or review our Fees webpage. Also, remember that when you use etoro, we do not charge for the following:

• Trading fees or commissions for any stock/ETF trades;
• No commissions or contract fees for option trades;
• Management fees for your etoro account, CopyTrader, or Smart Portfolio investments;
• Bank deposit fees or withdrawal fees for any payment method;
• Inactivity or any other account maintenance fees.

Our fees and business revenues may change from time to time, please be sure to check this page for updates.

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| *Note: Crypto trading is not available in NV, HI, Puerto Rico and the US Virgin Islands.* |