After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare eToro vs Pepperstone.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Pepperstone received a rating of 4.00 stars over eToro's 3.50 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. eToro and Pepperstone both are regulated in a major hub. eToro nor Pepperstone are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. Pepperstone offers its clients access to 59 different currency pairs while eToro has 47 available pairs, a difference of 12.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Pepperstone offers Meta Trader while eToro does not. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. Pepperstone offers its clients access to 31 charting tools while eToro has 14 charting tools, a difference of 17. Pepperstone trails eToro by 15 total different indicators (for example, moving averages), with eToro offering 66 and Pepperstone offering 51.
Overall, both eToro and Pepperstone are rated 4.00 stars. And, when it comes to individual category awards, Pepperstone posted awards Best in Class - Customer Service and Best in Class - Active Trading in 2018, while eToro found itself with Best in Class - Customer Service.