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 |
Comparing commissions and fees, Pepperstone generally comes out cheaper than eToro. On EUR/USD, eToro lists a typical 1.0-pip variable spread, which is slightly above the industry average. Pepperstone’s Razor account averages a 0.10-pip spread plus a 0.70-pip commission equivalent, for an all-in cost of about 0.80 pips (as of July 2024), which is closer to the industry norm. Result: Pepperstone earns 5/5 stars and ranks #6 for Commissions and Fees, while eToro earns 4/5 stars and ranks #22.
eToro is a market-maker broker, and most traders don’t choose it for ultra-low spreads but for its popular social copy trading features. For those with larger balances, the eToro Club (five tiers from Silver to Diamond for $5,000–$250,000) adds value with perks like access to Trading Central, discounted deposit and withdrawal fees, and a dedicated account manager—benefits that help offset, but don’t replace, its slightly higher spreads.
Pepperstone uses agency execution and shines on its Razor account, which is commission-based and available on TradingView, MetaTrader (MT4/MT5), and cTrader. Its Standard account is commission-free but showed a higher average spread of 1.1 pips on EUR/USD (as of July 2024), making Razor the better deal for pricing. High-volume traders can lower costs further through the Active Trader program, which offers spread rebates: in the U.K./EU, roughly 15% to 25% for eligible Professional clients; in Australia, about 10% to 30% depending on lots traded. That combination explains Pepperstone’s stronger pricing score versus eToro.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 |
| Average spread (EUR/USD) - Standard account | N/A | 1.1 |
| All-in Cost EUR/USD - Active | N/A | 0.8 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing eToro vs Pepperstone for range of investments: both platforms offer forex trading via contracts for difference (CFDs). eToro lists 7,441 tradeable symbols, far more than Pepperstone’s 1,726. Forex coverage differs too—eToro offers 55 currency pairs, while Pepperstone has 65. eToro also lets you buy exchange-traded securities on U.S. and international exchanges (for example, Apple or Vodafone) in addition to CFDs; Pepperstone does not offer direct stock investing. For crypto, eToro supports both actual coins and crypto CFDs, whereas Pepperstone offers crypto CFDs only. Both platforms support copy trading.
For the Range of Investments category, ForexBrokers.com rates eToro 5 stars and ranks it #11 out of 63 brokers, while Pepperstone earns 4 stars and ranks #23. In short, eToro suits investors who want a very wide selection, direct stock ownership, and optional crypto purchases, while Pepperstone appeals to traders focused on forex pairs and CFD-based markets.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 7441 | 1726 |
| Forex Pairs (Total) | 55 | 65 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | No |
| 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 make it easy to get started with a free demo (paper) account, offer their own proprietary trading platforms, and provide web-based platforms you can use in your browser. Each broker supports copy trading and lets you place trades directly from charts. Where they differ is desktop access: eToro doesn’t have a Windows download, while Pepperstone does, which may appeal to traders who prefer a traditional desktop setup.
Platform choice also stands out. eToro does not support MetaTrader 4 (MT4) or MetaTrader 5 (MT5), while Pepperstone offers both MT4 and MT5 alongside its web platform. In the Trading Platforms and Tools category, eToro earned 4.5 out of 5 stars and ranks #8 of 63 brokers at ForexBrokers.com, compared with Pepperstone’s 4 out of 5 stars and #21 ranking. If you want MT4/MT5 and a Windows desktop app, Pepperstone is the better fit; if you want an easy web experience with copy trading and a high-rated toolset, eToro is a strong pick.
| 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 | 15 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing eToro and Pepperstone for mobile trading apps, both brokers offer iPhone and Android apps, price alerts for stocks and forex, and watchlists that sync between the app and your online account. For overall user experience, eToro earns 4.5 out of 5 stars and ranks #10 out of 63 brokers on ForexBrokers.com, while Pepperstone scores 4 stars and ranks #19.
When it comes to charting tools, eToro provides far more technical indicators (104 vs. Pepperstone’s 30). However, Pepperstone lets you draw trendlines on charts and automatically saves your drawings, features eToro’s app does not include. Choose eToro if you prioritize a wide range of indicators, or Pepperstone if drawing tools and saved annotations matter more to your workflow.
| 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 | No | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
eToro vs Pepperstone for market research: both brokers deliver daily market commentary, real-time forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, sentiment tools that show the long/short split across instruments, and an economic calendar covering global events. The main differences are in their toolsets: eToro includes Trading Central analytics and TipRanks equity research, while Pepperstone integrates Autochartist for automated chart‑pattern and key level ideas. Neither currently offers Acuity Trading tools.
Ratings are neck and neck at 4.5 stars for Research. ForexBrokers.com ranks Pepperstone #12 and eToro #13 out of 63 brokers in this category. Choose eToro if you want Trading Central plus TipRanks alongside daily news; pick Pepperstone if Autochartist’s pattern scanning is a priority. Either way, you get strong daily insights and premium news coverage.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | 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 comparing education, both eToro and Pepperstone deliver useful learning paths. Each offers forex and CFD education that meets the minimum of 10 pieces, and both host online client webinars at least once a month. If you like to learn by watching, both brokers provide at least 10 beginner videos to cover the basics and at least 10 advanced videos for when you’re ready to level up.
Both brokers earn 4.5 out of 5 stars for Education, but their rankings differ: eToro is #3 out of 63 brokers in the Education category on ForexBrokers.com, while Pepperstone is #15. Bottom line: you’ll find strong beginner-friendly education with either broker, with eToro holding the higher overall ranking and Pepperstone still offering plenty of helpful webinars and videos.
| 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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In the eToro vs Pepperstone comparison, online broker eToro allows buying actual (delivered) cryptocurrency (not a CFD), while both platforms also offer cryptocurrency CFD trading.
eToro vs Pepperstone: both brokers support ACH/SEPA, PayPal, and bank wire deposits and withdrawals, eToro additionally supports Skrill while Pepperstone does not, and Visa/Mastercard availability is not specified for either.
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 SCA 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 | 1726 | |
| Forex Pairs (Total) | 55 | 65 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | No | |
| 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) - Standard account | N/A | 1.1 | |
| All-in Cost EUR/USD - Active | N/A | 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 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | 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 | 15 | |
| 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 | No | 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 | Yes | |
| Trading Central | Yes | 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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