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 | 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 it comes to range of investments, eToro offers a wider selection than Pepperstone. eToro provides access to 7,441 tradeable symbols, while Pepperstone offers 1,726. Both brokers support forex trading and each offers 65 forex pairs, so they are evenly matched in that area. Both also include copy trading, and both let clients trade cryptocurrency CFDs.
The main difference is that eToro gives investors more ways to diversify. It offers exchange-traded shares on both U.S. and international markets, and it also lets users buy actual cryptocurrency, not just crypto CFDs. Pepperstone does not offer direct share dealing or spot crypto purchases. That broader mix helps explain why eToro earns 5 stars for Range of Investments and ranks #10 out of 63 brokers, compared with Pepperstone’s 4 stars and #23 ranking.
| 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 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.
eToro and Pepperstone both deliver capable mobile trading apps for iPhone and Android. You get price alerts for stocks and forex, plus watchlist syncing between mobile and your online account, so changes carry over everywhere. Charting on both apps supports drawing trendlines. Key differences: the eToro mobile app offers 104 built-in technical studies for deeper analysis, while the Pepperstone mobile app provides 30. Pepperstone’s app auto-saves your chart drawings; eToro’s does not.
For ratings and rankings, ForexBrokers.com gives eToro’s mobile trading app 4.5 stars and a #10 spot out of 63 brokers. Pepperstone earns 4 stars and ranks #19. If you want a wider set of indicators, eToro has the edge; if you care about drawings being saved automatically on your charts, Pepperstone is the better fit.
| 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.
When it comes to market research, eToro and Pepperstone are closely matched. Both brokers provide daily market commentary, news from top sources like Bloomberg and Reuters, a sentiment tool showing long and short positioning, and an economic calendar for upcoming global events. They also share the same Research rating from ForexBrokers.com, with each earning 4.5 out of 5 stars, which shows that both offer solid coverage for traders who want regular market updates and trading ideas.
The main difference is in extra research tools. 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. In ForexBrokers.com’s ranking of 63 brokers, eToro places slightly higher in the Research category at #12, compared with Pepperstone at #13, giving eToro a small edge overall.
| 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 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 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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