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 |
When comparing eToro and Pepperstone for their commissions and fees, each broker caters to different trading needs. eToro, known for its social copy trading platform, employs a market-maker model with a typical variable spread of 1 pip on the EUR/USD. This spread is slightly higher than the industry average, making it less appealing for cost-sensitive retail traders. eToro's VIP Club, offering various membership tiers such as Silver to Diamond, provides traders with added benefits like discounted fees and personalized account management. This focus on social and VIP trading features contributes more to eToro's draw despite a relatively average star rating of 4.5 for commissions and fees, ranking it 22nd out of 63 brokers according to ForexBrokers.com.
Pepperstone, on the other hand, excels in offering competitive pricing, particularly through its Razor account for high-volume traders. The Razor account, which integrates with platforms like MetaTrader and cTrader, employs a commission-based pricing structure, resulting in an all-in cost of 0.80 pips for the EUR/USD, closer to the industry average. The Standard account features a higher spread of 1.1 pips, making it less attractive than the Razor account for cost-conscious traders. High-volume traders can also benefit from Pepperstone's Active Trader program, which provides rebates based on trading volume. With a star rating of 4.5 for commissions and fees, Pepperstone is ranked 10th out of 63 brokers, showcasing its appeal to frequent and professional traders.
Pepperstone offers additional incentives for active traders in various regions. In the UK and EU, professional clients who meet certain trading volumes can receive spread rebates of up to 25%, while in Australia, discounts reach up to 30% on standard lots for the most active traders. The diverse options and potential cost savings contribute to Pepperstone's higher ranking and appeal for traders who prioritize lower spreads and potential rebates over social trading features.
| 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.
When it comes to the variety of investments they offer, eToro and Pepperstone each have their own strengths. eToro stands out with a whopping 5,461 tradable symbols, including 55 forex pairs. It also allows users to buy exchange-traded securities on both U.S. and international markets. For those interested in cryptocurrency, eToro provides not only the option to buy actual cryptocurrencies but also a variety of cryptocurrency derivatives. This broad array of options has earned eToro a 5-star rating for its range of investments, ranking it 10th out of 63 brokers on ForexBrokers.com.
Pepperstone, on the other hand, provides 1,726 tradeable symbols, including a slightly higher number of forex pairs at 65. While it does not offer exchange-traded securities on U.S. or international markets like eToro, Pepperstone still allows for trading of cryptocurrency derivatives. Both platforms support copy trading, which is a valuable feature for those seeking to mirror the trades of successful investors. Despite having fewer options overall, Pepperstone garners a respectable 4-star rating in the range of investments category, placing it 26th out of 63 brokers according to ForexBrokers.com.
| 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) | No | No | |
| 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) | No | 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) | No | No |
| 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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