Broker comparison
eToro vs Pepperstone
eToro is a social and copy-trading platform with spread-only pricing; Pepperstone is a raw-pricing broker with third-party platforms.
Terms checked on 3 Nov 2026 against each broker's own website and legal documents
Founded
2007
2010, Melbourne
Minimum deposit
$10 to $10,000 depending on region
$0
Raw pricing
Not offered for forex
Razor from 0.0 pips (average 0.1) + $3.50 per side on its own platform and TradingView, $3.00 on cTrader; check MT4/MT5 pricing
Spread-only pricing
EUR/USD 0.005% per trade (best case), no commission
Standard from 1.0 pips (average 1.1), no commission
Platforms
eToro web platform and app (with CopyTrader)
Pepperstone platform, MT4, MT5, cTrader, TradingView (Razor only)
Regulation
FCA (FRN 583263), CySEC (109/10), ASIC (AFSL 491139), FSA Seychelles (SD076)
ASIC (AFSL 414530), FCA (FRN 684312), CySEC (388/20), SCB Bahamas (SIA-F217)
Maximum retail leverage
30:1 on major pairs
1:30 UK, EU and Australia; up to 1:200 at the Bahamas entity
FCA-authorised UK company
Yes (FRN 583263)
Yes (FRN 684312)
Which to choose
Choose eToro if copying other traders on its own platform is the main reason to open an account. Choose Pepperstone for raw spreads, MetaTrader, cTrader or TradingView.
Both have FCA, CySEC and ASIC companies. eToro's minimum deposit ranges from $10 to $10,000 by region; Pepperstone has none.
Read the full eToro review and Pepperstone review.
How we chose. These shortlists use published terms only: costs, minimum deposit, platforms and the regulator of the entity you would join. We have not ranked brokers on scores, and the order is not a recommendation for your circumstances. Read our methodology and affiliate disclosure.
CFDs and leveraged forex are complex and carry a high risk of losing money rapidly. Most retail accounts lose money. Only trade with money you can afford to lose.
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Written by the Forex Awards research desk
Guides are checked against current broker documents and regulator rules. Spotted something out of date? Tell us and we will re-check it.
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