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 it comes to commissions and fees, eToro is the simpler platform of the two, but it is not the cheapest. As a market-maker broker, eToro typically lists a 1 pip spread on EUR/USD, which is a bit above the industry average. That said, many retail traders are drawn to eToro more for its social copy trading tools than for low trading costs. eToro earns 4 out of 5 stars for commissions and fees and is ranked #22 out of 36 brokers by ForexBrokers.com in this category.
Pepperstone offers stronger pricing overall, especially on its Razor account. This account uses commission-based pricing and, as of July 2024, showed an average EUR/USD spread of 0.10 pips; after adding the commission equivalent of 0.70 pips, the all-in cost comes to 0.80 pips, which is near the industry average. Pepperstone’s Standard account is commission-free but has a higher average EUR/USD spread of 1.1 pips, making it the pricier choice compared with Razor. Pepperstone also rewards active traders with spread rebates through its Active Trader program. Pepperstone earns 5 out of 5 stars and ranks #6 out of 36 brokers for commissions and fees.
In short, eToro may appeal to traders who value ease of use and copy trading, while Pepperstone is the better pick for lower trading costs, especially for frequent traders using Razor and Active Trader discounts. eToro also offers VIP Club tiers for balances from $5,000 to $250,000, with benefits such as Trading Central access and fee discounts, but Pepperstone still comes out ahead on overall pricing.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 |
| Average spread (EUR/USD) - Standard account | 1 | 1.1 |
| All-in Cost EUR/USD - Active | 1 | 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.
When comparing eToro vs Pepperstone for range of investments, eToro gives traders a wider choice overall. eToro offers 7,441 tradeable symbols, compared with Pepperstone’s 1,726, even though both brokers provide 65 forex pairs and forex trading through CFDs or spot contracts. eToro also stands out for access to exchange-traded stocks on both U.S. and international markets, letting clients buy real shares rather than just CFDs.
In addition, eToro lets users buy actual cryptocurrency as well as crypto CFDs, while Pepperstone only offers crypto CFDs. Both brokers support copy trading, but eToro earns a higher score for investment range, with 5 stars versus Pepperstone’s 4 stars. On ForexBrokers.com, eToro ranks #10 out of 36 brokers in this category, while Pepperstone ranks #23, making eToro the stronger choice for investors looking for more markets and asset types in one place.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 7441 | 1726 |
| 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 | 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 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 | 15 |
| 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 deliver strong market research tools for everyday traders. Each platform offers daily market commentary, news from top sources like Bloomberg and Reuters, a sentiment tool that helps show long or short positioning, and an economic calendar for tracking global events. They also both earn a 4.5-star rating for Research, with eToro ranked #12 out of 36 brokers by ForexBrokers.com and Pepperstone close behind at #13.
The main difference is in extra research features. Pepperstone includes Autochartist, which can help with technical and fundamental analysis, while eToro does not. On the other hand, eToro offers TipRanks market research, which Pepperstone does not. Neither broker includes Trading Central or Acuity Trading tools, so the two are fairly even overall, with each bringing a slightly different mix of research resources to the table.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| 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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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 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 | 1726 | |
| 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 | 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 | 1 | 1.1 | |
| All-in Cost EUR/USD - Active | 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 | $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 | 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 | Yes | |
| 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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