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.
When comparing the online brokers eToro and Pepperstone, it's clear both firms come with their own strengths. Established in 2007, eToro has carved out a solid reputation in the trading world, holding three Tier-1 licenses and one Tier-2 license. This contributes to its high Trust Score of 93 out of 99, as rated by ForexBrokers.com, making it a highly trusted platform. Despite not being publicly traded or operating as a bank, eToro's regulatory adherence is noteworthy.
Pepperstone, founded a few years later in 2010, also boasts a strong regulatory standing. It holds the same number of Tier-1 licenses as eToro but surpasses it slightly with two Tier-2 licenses. With a Trust Score of 95 out of 99, Pepperstone is recognized as highly trusted as well. Like eToro, Pepperstone is neither publicly listed nor a banking entity. Both platforms demonstrate a commitment to regulatory standards, offering traders a secure environment for their trading activities.
| Feature |
eToro
|
Pepperstone
|
|---|---|---|
| Year Founded | 2007 | 2010 |
| Publicly Traded (Listed) | No | 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 evaluating eToro and Pepperstone based on commissions and fees, both brokers offer unique structures tailored to different types of traders. eToro is a market-maker broker listing a standard variable spread of 1 pip on the EUR/USD, which is slightly above the industry average. This platform attracts retail traders not for its competitive spreads, but for its standout social copy trading features. eToro also presents a VIP membership, called eToro Club, that includes five tiers from Silver to Diamond, offering perks like access to Trading Central and discounted fees for traders maintaining balances between $5,000 and $250,000.
Pepperstone, contrastingly, provides agency-execution brokerage services with notable pricing on its Razor account, particularly when paired with the Active Trader program for high-volume traders. This account offers an average spread of 0.10 pips on the EUR/USD, with an all-in cost increase to 0.80 pips after considering the commission-equivalent of 0.70 pips. This rate is close to the industry norm. In comparison, Pepperstone’s commission-free Standard account lists an average spread of 1.1 pips on the EUR/USD, rendering it a more expensive choice than the Razor account. The Active Trader program offers rebates based on trading volume, presenting desirable benefits for both the UK/EU and Australian professional traders achieving certain trading thresholds.
Both eToro and Pepperstone receive a commendable 4.5 stars for their commissions and fees, indicating high satisfaction with their pricing models among users. Yet, in the ForexBrokers.com ranking of 62 brokers, Pepperstone stands out at #10, considerably surpassing eToro, which is positioned at #22, showcasing Pepperstone's advantageous cost strategies more prominently to informed traders.
| 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 comparing eToro and Pepperstone, eToro stands out for its impressive range of investments, offering 5,461 tradeable symbols compared to Pepperstone's 1,726. Both brokers provide forex trading through CFDs or spot contracts, but Pepperstone edges out with 65 forex pairs against eToro's 55. A distinctive feature of eToro is its access to exchange-traded securities on both U.S. and international exchanges, allowing clients to purchase shares like Apple and Vodafone directly, a service Pepperstone does not offer. eToro also enables users to buy actual cryptocurrencies, unlike Pepperstone, which only offers cryptocurrency derivatives.
Both eToro and Pepperstone support copy trading, enhancing opportunities for novice and experienced traders alike. The broader variety of options places eToro ahead in the investment range, earning it a 5-star rating compared to Pepperstone's 4-star. According to ForexBrokers.com, eToro ranks 10th out of 62 brokers for the range of investments, highlighting its diverse offerings, while Pepperstone ranks at 26th. These ratings indicate eToro's superior position for investors looking for an extensive variety of trading options.
| 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.
eToro and Pepperstone both provide a comprehensive trading experience, each offering a range of tools and platforms suited for different trading styles. Both brokers allow users to explore their services through a free virtual demo account and offer proprietary platforms that have been developed in-house. While eToro delivers a user-friendly web-based platform with an impressive 161 drawing tools for charting, Pepperstone also offers a solid web interface but is distinctive with its Windows-based desktop platform and the ability to trade directly from a stock chart. Furthermore, Pepperstone supports the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, alongside DupliTrade, enhancing its offerings for traders who prefer these advanced tools.
Copy trading is available through both brokers, appealing to investors looking to mirror the trades of successful traders. However, differences arise in the details: eToro, with a higher rating of 4.5 stars for its trading platforms and tools, and ranking 8th out of 62 brokers according to ForexBrokers.com, excels with a more extensive charting toolset and a cleaner interface directed towards investors preferring simplicity without desktop software. Pepperstone, on the other hand, with 4 stars and a 22nd-place ranking, may cater more to those who value direct Chart Trading and extensive third-party software integration like MetaTrader, despite offering fewer drawing tools than its competitor.
| 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 comparing the mobile trading apps of eToro and Pepperstone, both brokers are well-equipped to cater to iPhone and Android users with comprehensive support for stock and forex price alerts. eToro leads with a remarkable 104 technical studies for charting, providing a wide array of analytical tools to users, while Pepperstone offers 30. However, if your focus is drawing tools, Pepperstone stands out with the ability to draw trendlines and auto-save drawings, a feature that eToro lacks.
Both apps offer watchlist symbol syncing, ensuring your custom watchlists are up-to-date across all devices and platforms. With real-time quotes and multiple time frames available for charts, these features make it easy to stay informed and make timely trading decisions. In terms of user ratings, eToro is highly praised with a rating of 4.5 stars, placing it at number 10 in the Mobile Trading Apps category by ForexBrokers.com out of 62 brokers. On the other hand, Pepperstone is rated 4 stars, ranking 21st in the same category. Whether prioritizing extensive charting features or seamless drawing tools, each app offers unique strengths for traders on the go.
| 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.
When comparing the online brokers eToro and Pepperstone for market research, both platforms offer daily market commentary and provide economic calendars for tracking global news events. However, they differ in their partnerships with external research tools and news sources. eToro stands out with its integration of TipRanks for market research and Trading Central tools for technical analytics, offering its users a unique edge. On the other hand, Pepperstone caters to forex enthusiasts by delivering news from top-tier sources like Bloomberg and Reuters, and it also incorporates powerful tools from Autochartist to aid in technical analysis. Both platforms provide sentiment analysis tools to help traders gauge market positions across various instruments.
Overall, eToro and Pepperstone both achieve an impressive research rating of 4.5 stars, as evaluated by experts. Despite their similar ratings, Pepperstone slightly edges out in the rankings by ForexBrokers.com, holding the 12th spot compared to eToro's 13th, out of a total of 62 brokers assessed. Each broker excels in different areas, with Pepperstone's strength in forex news and technical tools, while eToro leverages partnerships with TipRanks and Trading Central, making the choice between them largely dependent on the specific tools and data sources traders prioritize for their strategies.
| 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 comparing eToro and Pepperstone, both online brokers excel in providing educational resources for beginners. Each platform offers a comprehensive collection of over 10 educational pieces focused on forex and CFDs, ensuring newcomers have ample resources to learn from. Additionally, both brokers host online webinars for clients at least once a month, with these sessions available in an easily searchable archive of recorded content. This allows learners to access a wealth of past educational events at their convenience. Beginner traders can also benefit from at least 10 introductory videos offered by each platform, covering key trading topics to help them get started.
For those looking to deepen their trading expertise, both eToro and Pepperstone provide over 10 advanced educational videos tailored to experienced traders. Furthermore, they offer an extensive investor dictionary, featuring definitions of more than 50 investing terms, to support clients’ understanding of the financial landscape. Both brokers are highly rated for their educational offerings, with eToro and Pepperstone each receiving a commendable 4.5-star rating. However, in rankings based on educational resources, eToro is positioned at number 5, while Pepperstone is ranked number 17 out of 62 brokers according to ForexBrokers.com, signaling eToro's slight edge in this aspect.
| 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 62 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 | 93 | 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 | 93 | 95 | |
| Winner | check_circle | ||
| Review | eToro Review | Pepperstone Review |
| Broker Screenshots | eToro | Pepperstone | |
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| Regulation | eToro | Pepperstone | |
|---|---|---|---|
| Trust Score | 93 | 95 | |
| Year Founded | 2007 | 2010 | |
| Publicly Traded (Listed) | No | 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 | 93 | 95 | |
| Winner | check_circle | ||
| Review | eToro Review | Pepperstone Review |
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