Written by ForexBrokers.com
In this head to head comparison of eToro vs Pepperstone, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
eToro (founded 2007) and Pepperstone (founded 2010) are well-known online brokers with strong safety marks from ForexBrokers.com. eToro is publicly traded, while Pepperstone is not; neither broker is a bank. According to ForexBrokers.com, eToro holds a Trust Score of 97/99 and Pepperstone scores 94/99—both fall into the highly trusted range.
On regulation, eToro holds 4 Tier-1 licenses (considered highly trusted) and 1 Tier-2 license (trusted). Pepperstone holds 3 Tier-1 licenses and 2 Tier-2 licenses. In short, both brokers are highly trusted, with eToro showing slightly more Tier-1 coverage and Pepperstone carrying one additional Tier-2 license.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Year Founded | 2007 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 3 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing commissions and fees, Pepperstone comes out ahead of eToro for most active forex traders. eToro is a market-maker broker with a typical variable spread of 1 pip on EUR/USD, which is a bit higher than average, and it is generally better known for its social copy trading features than for low-cost pricing. eToro earns 4 out of 5 stars for commissions and fees and ranks #23 out of 36 brokers in this category.
Pepperstone, by contrast, is an agency-execution broker that offers stronger pricing overall, especially on its Razor account. As of July 2024, Pepperstone’s Razor account showed an average EUR/USD spread of 0.10 pips, and after adding the commission-equivalent cost of 0.70 pips, the all-in cost was 0.80 pips, which is close to the industry average. Its commission-free Standard account had a higher average EUR/USD spread of 1.1 pips, making it the pricier choice. Pepperstone also offers an Active Trader program that can reduce costs for high-volume clients. It receives 5 out of 5 stars for commissions and fees and ranks #5 out of 36 brokers.
In simple terms, eToro may appeal more to traders who value copy trading and a user-friendly platform, while Pepperstone is usually the better pick if low trading costs matter most. eToro does offer VIP Club benefits for qualifying balances, such as fee discounts and account support, but Pepperstone’s pricing structure and active trader rebates make it the stronger option for frequent traders.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $10 |
| Average spread (EUR/USD) - Spread-only account | 1 | 1.1 |
| All-in Cost EUR/USD - Raw spread account | 1 | 0.8 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, eToro gives traders more choice than Pepperstone. Both brokers offer forex trading and provide the same 65 currency pairs, plus copy trading and the option to buy actual cryptocurrency or trade crypto CFDs. However, eToro stands out for its much larger selection of tradeable symbols, with 7,441 available compared with Pepperstone’s 2,631.
eToro also has a clear edge for share investing because it lets clients buy exchange-traded securities on both U.S. and international exchanges, such as Apple and Vodafone, while Pepperstone does not offer direct share dealing on these markets. That broader product list helps explain why eToro is rated 5 stars for Range of Investments and ranked #10 out of 36 brokers, while Pepperstone holds a 4-star rating and ranks #23.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 7441 | 2631 |
| Forex Pairs (Total) | 65 | 65 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | Yes |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
eToro and Pepperstone both give traders a free demo account, a proprietary platform, web-based trading, copy trading, and the ability to trade directly from charts. The main difference is that Pepperstone also offers a Windows desktop platform plus MetaTrader 4 and MetaTrader 5, while eToro does not. That makes Pepperstone a better fit for traders who want access to more platform choices and the popular MetaTrader tools.
In ForexBrokers.com’s Trading Platforms and Tools category, eToro is rated 4.5 out of 5 stars and ranked #8 out of 36 brokers, while Pepperstone is rated 4 out of 5 stars and ranked #21. For traders who prefer a simpler, browser-first setup with built-in copy trading, eToro may be the easier pick. If you want desktop software and MetaTrader support, Pepperstone has the edge.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 106 | 90 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing eToro and Pepperstone for mobile trading, both brokers offer iPhone and Android apps, plus useful features like price alerts and watchlist syncing between the mobile app and online account. Each app also lets users draw trendlines on charts, making it easier to track market moves on the go. For everyday mobile trading needs, both platforms cover the basics well.
eToro has the edge in charting and overall mobile app quality. Its app includes 104 technical studies compared with Pepperstone’s 30, and it is rated 4.5 out of 5 stars for mobile trading apps, versus 4 stars for Pepperstone. eToro is also ranked higher by ForexBrokers.com in this category, coming in at #10 out of 36 brokers, while Pepperstone ranks #19. One area where Pepperstone stands out is that its app automatically saves chart drawings, while eToro does not.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
eToro and Pepperstone both offer a solid set of market research features for traders who want regular updates and useful context before placing a trade. Each broker provides daily market commentary, forex news from top sources such as Bloomberg, Reuters, and Dow Jones, a sentiment tool that shows long and short positioning, and an economic calendar with upcoming global events. Neither broker includes Autochartist, Trading Central, or Acuity Trading tools, and both are rated 4.5 out of 5 stars for Research.
Where eToro has a slight edge is in its access to TipRanks market research, which Pepperstone does not offer. That difference also shows in ForexBrokers.com’s ranking, where eToro places #12 out of 36 brokers for Research, while Pepperstone comes in at #13. Overall, the two are closely matched, but eToro has a small lead thanks to its extra research source.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners looking to learn forex and CFD trading, both eToro and Pepperstone offer a wide range of educational support. Each broker provides at least 10 education pieces focused on forex or CFDs, monthly educational webinars, and plenty of video content for both new and more experienced traders. That means beginners can find step-by-step lessons, while more advanced users can keep building their skills with deeper trading topics.
When it comes to overall education quality, both brokers are rated 4.5 out of 5 stars. Still, eToro has the edge in ForexBrokers.com’s Education ranking, placing #3 out of 36 brokers, compared with Pepperstone at #15. So while both are strong choices for beginner learning, eToro stands out a bit more for educational resources overall.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that eToro is better than Pepperstone. eToro finished with an overall rank of #9, while Pepperstone finished with an overall rank of #17.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Overall Rating |
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| Trust Score | 97 | 94 |
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Both eToro and Pepperstone let you buy actual delivered cryptocurrency as well as trade cryptocurrency CFDs, giving traders flexible access to crypto investing and speculation on either platform.
In the eToro vs Pepperstone comparison, both online brokers support ACH/SEPA transfers, PayPal, Skrill, and bank wire deposits and withdrawals, while Visa/Mastercard availability is not specified.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | eToro | Pepperstone | |
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| Trust Score | 97 | 94 | |
| Winner | check_circle | ||
| Review | eToro Review | Pepperstone Review |
| Broker Screenshots | eToro | Pepperstone | |
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| Regulation | eToro | Pepperstone | |
|---|---|---|---|
| Trust Score | 97 | 94 | |
| Year Founded | 2007 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 3 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | eToro | Pepperstone | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | eToro | Pepperstone | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | eToro | Pepperstone | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 7441 | 2631 | |
| Forex Pairs (Total) | 65 | 65 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | Yes | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | eToro | Pepperstone | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1 | 1.1 | |
| All-in Cost EUR/USD - Raw spread account | 1 | 0.8 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | eToro | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $10 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | Yes |
| Trading Platforms | eToro | Pepperstone | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes |
| Trading Tools | eToro | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 106 | 90 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | Pepperstone | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 104 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | No | Yes |
| Research | eToro | Pepperstone | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | No | No | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | Pepperstone | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | eToro | Pepperstone | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | eToro Review | Pepperstone Review |
| Overall | eToro | Pepperstone | |
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| Trust Score | 97 | 94 | |
| Winner | check_circle | ||
| Review | eToro Review | Pepperstone Review |
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