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 and Pepperstone are both respected names in the online brokerage industry, each with unique strengths. Founded in 2007, eToro has established itself as a highly trusted broker with a Trust Score of 96 from ForexBrokers.com, reflecting its reliability and transparency. As a publicly traded company, eToro holds three Tier-1 licenses and one Tier-2 license, affirming its compliance with stringent regulatory standards. However, it is important to note that eToro is not a bank.
Pepperstone, on the other hand, launched in 2010, has also garnered a high trust score of 95, underscoring its reputation similarly as a trusted broker. Unlike eToro, Pepperstone is not publicly traded, but it matches eToro with three Tier-1 licenses, while surpassing it with two Tier-2 licenses, reflecting its commitment to maintaining high regulatory compliance. Like eToro, Pepperstone is also not a bank, making both brokers non-bank entities with a strong regulatory framework in place.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Year Founded | 2007 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 3 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
Comparing commissions and fees, eToro and Pepperstone both earn 4.5 out of 5 stars, but rank differently: eToro sits at #23 of 63 brokers for Commissions and Fees, while Pepperstone ranks higher at #11 of 63. The key difference is pricing style. eToro is a market-maker and lists a typical variable spread of 1.0 pip on EUR/USD—slightly above the industry average—so its appeal tends to be platform features (like social copy trading) rather than ultra-low spreads. Pepperstone uses agency execution and is most competitive on its Razor account, where an average 0.10-pip spread plus a commission-equivalent of 0.70 pips brings the all-in EUR/USD cost to about 0.80 pips, which is close to the industry average.
eToro does not lean on tight spreads to win on price, but its eToro Club (VIP program) can lower some non-trading costs and add services. With five tiers from Silver to Diamond for balances of $5,000–$250,000, perks can include access to Trading Central, discounted deposit and withdrawal fees, and a dedicated account manager.
Pepperstone’s pricing varies by account. The Razor account is commission-based and available on TradingView, MT4/MT5, and cTrader; its all-in 0.80-pip EUR/USD cost undercuts Pepperstone’s Standard account, which is commission-free but averages 1.1 pips (as of July 2024). High-volume traders may trim costs further via Pepperstone’s Active Trader program: in the UK/EU, Professional clients trading at least £20 million per month can get a 15% per-lot rebate (up to 25% beyond £200 million), while in Australia, Professional clients starting from 100 lots over three months qualify for Tier One (10% discount per lot) and can reach a 30% spread reduction at more than 3001 lots per month.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 |
| Average Spread EUR/USD - Standard | 1 | 1.00 |
| All-in Cost EUR/USD - Active | N/A | 0.70 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing eToro vs Pepperstone on range of investments, eToro lists 5,461 tradeable symbols while Pepperstone offers 1,726. Both support forex trading (CFD/spot), with Pepperstone carrying 65 forex pairs compared with eToro’s 55. eToro stands out for access to exchange-traded stocks on both U.S. and international exchanges, letting you buy real shares like Apple or Vodafone; Pepperstone does not offer exchange-traded stocks. Both brokers support copy trading. For crypto, eToro lets you buy actual coins as well as crypto derivatives, whereas Pepperstone limits you to crypto derivatives only.
If you want stocks and real crypto alongside CFDs, eToro is the broader one-stop choice; if your focus is forex with a few more pairs, Pepperstone has an edge there. Reflecting this, eToro earns 5 stars for Range of Investments and ranks #11 out of 63 brokers at ForexBrokers.com, while Pepperstone receives 4 stars and ranks #27.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 1726 |
| Forex Pairs (Total) | 55 | 65 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | 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.
When comparing the trading platforms and tools offered by eToro and Pepperstone, both brokers provide users with access to free virtual demo accounts, enabling traders to practice in a simulated environment. While both platforms have developed their own in-house trading platforms, Pepperstone also supports popular third-party platforms like MetaTrader 4 and MetaTrader 5, which are not available on eToro. Moreover, Pepperstone boasts a Windows-based desktop download option, offering traders flexibility in terms of the devices they use, compared to eToro's focus on web-based access.
Both eToro and Pepperstone facilitate copy trading; however, Pepperstone extends its offering with tools like DupliTrade. In terms of charting features, eToro surpasses Pepperstone by offering 161 drawing tools, while Pepperstone provides 30. Despite eToro's extensive charting tools, it lacks the ability to trade directly from a stock chart, a feature Pepperstone supports. For those focused on watch lists, eToro offers six fields, whereas Pepperstone provides seven. Ultimately, eToro edges ahead in platform ratings with a score of 4.5 stars and a higher ranking in the Trading Platforms and Tools category by ForexBrokers.com, placing 8th out of 63 brokers, while Pepperstone ranks 22nd with a rating of 4 stars.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 15 |
| Charting - Drawing Tools (Total) | 161 | 30 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both eToro and Pepperstone offer robust options for traders, available on both iPhone and Android devices. Both platforms provide essential features like stock or forex price alerts, and watchlist symbol syncing that ensures your watchlists are consistent between the mobile app and your online account. While eToro impresses with its extensive 104 technical studies for charting, Pepperstone falls behind with just 30. However, Pepperstone compensates for this by offering the ability to draw trendlines and auto-save drawings on charts, features that eToro does not provide. Both apps allow viewing in multiple time frames and support real-time quotes in watchlists, enhancing the experience for users looking for comprehensive trading on the go.
In terms of ratings and rankings, eToro edges out with a 4.5-star rating compared to Pepperstone's 4 stars. Additionally, in a review of 63 brokers by ForexBrokers.com, eToro is ranked #10 for mobile trading apps, whereas Pepperstone comes in at #21. This suggests that while both apps provide a well-rounded trading experience, eToro might offer a slight edge in terms of user satisfaction and features, potentially making it the more appealing choice for those prioritizing advanced charting options and higher overall user ratings.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
eToro and Pepperstone both shine in providing daily market commentary and detailed economic calendars, ensuring traders stay informed about vital global events. However, when it comes to accessing forex news from top-tier sources like Bloomberg and Reuters, Pepperstone takes the lead, offering news from these esteemed outlets, while eToro does not. Both platforms deliver sentiment-based trading tools to help users assess long and short positions across various currency pairs. Yet, they diverge when it comes to technical analysis tools, with Pepperstone utilizing Autochartist, whereas eToro offers resources from Trading Central. Additionally, eToro partners with TipRanks for market research, a service not available with Pepperstone.
Both eToro and Pepperstone have received commendable research ratings of 4.5 stars, reflecting their proficiency in this crucial area. Their competitive edge is highlighted by their close rankings in the ForexBrokers.com research category, with Pepperstone slightly ahead at #12 compared to eToro's #13. Despite their small differences, traders can expect solid market research support from both of these leading online brokers.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both eToro and Pepperstone stand out as strong contenders in the online brokerage world. Each platform offers a wealth of materials aimed at helping newcomers understand forex and CFDs, featuring a variety of articles, videos, and archived webinars. Prospective traders can attend online webinars every month and access a multitude of beginner videos designed to ease the learning curve. Additionally, both eToro and Pepperstone provide advanced video content for those looking to deepen their trading knowledge, along with a comprehensive investor dictionary of over 50 terms.
Despite sharing a 4.5-star education rating, eToro and Pepperstone differ in their rankings according to ForexBrokers.com. eToro is positioned at #5 out of 63 brokers for its educational offerings, surpassing Pepperstone, which ranks at #17. This ranking may influence prospective traders who seek a more highly recognized educational experience. While both platforms display a commitment to educating their users effectively, eToro holds a slight edge in the educational ranking landscape. Whether you choose eToro or Pepperstone, both platforms are equipped to provide a solid foundation for budding traders.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | 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 #16.
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 | 96 | 95 |
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eToro allows users to purchase actual cryptocurrencies, unlike Pepperstone, although both platforms offer cryptocurrency derivatives.
Both eToro and Pepperstone offer a variety of deposit and withdrawal options, including ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, making them versatile choices for online trading.
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 | 96 | 95 | |
| Winner | check_circle | ||
| Review | eToro Review | Pepperstone Review |
| Broker Screenshots | eToro | Pepperstone | |
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| Regulation | eToro | Pepperstone | |
|---|---|---|---|
| Trust Score | 96 | 95 | |
| 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 | 3 | 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 (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | 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/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | eToro | Pepperstone | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 1726 | |
| Forex Pairs (Total) | 55 | 65 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | 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 - Standard | 1 | 1.00 | |
| All-in Cost EUR/USD - Active | N/A | 0.70 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | eToro | Pepperstone | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | eToro | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 15 | |
| Charting - Drawing Tools (Total) | 161 | 30 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | Pepperstone | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | Pepperstone | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | Pepperstone | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | eToro | Pepperstone | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | eToro Review | Pepperstone Review |
| Overall | eToro | Pepperstone | |
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| Trust Score | 96 | 95 | |
| Winner | check_circle | ||
| Review | eToro Review | Pepperstone Review |
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