Pepperstone vs eToro: Which Broker Is Better?

2. Better Trading Platform – Pepperstone

In this segment of our review, we will focus on brokers that offer superior trading platforms. These brokers stand out by providing advanced charting tools, real-time market data, and swift execution speeds. Their platforms are designed with user-friendliness in mind, featuring customizable options and strong security measures to benefit traders. Furthermore, they facilitate automated trading, social trading, and access to a diverse array of financial instruments. These elements significantly enrich the trading experience, empowering traders to make informed decisions and execute trades with efficiency.

We have created a software questionnaire if you are unsure what platform best suits your trading style. Based on six simple questions, we can recommend the best trading software for your trading needs.

Metatrader

In this section, it’s evident that Pepperstone excels with a variety of tools that enhance the forex trading experience, outshining eToro, which offers only two trading platforms. However, eToro’s alternative platform remains impressively user-friendly. Pepperstone provides MetaTrader 4 and 5, essential for forex trading due to their advanced charting tools, real-time market data, and automated trading capabilities. Meanwhile, eToro offers proprietary platforms, a mobile trading app, and social and copy trading features, as well as automation and scalping tools, which are still valuable for traders.

Advanced Platforms

eToro offers both copy trading and their proprietary platform, similar to Pepperstone. However, Pepperstone provides additional platforms for traders, including cTrader Copy, MetaTrader Signals, EAs, and cTrader Automate, enhancing the trading experience with a wider range of tools and features.

Copy Trading

Both Pepperstone and eToro offer their own versions of Copy Trading through proprietary platforms. Pepperstone provides Copy Trading by Pepperstone, cTrader Copy, and MetaTrader Signals, enhancing the trading experience with diverse tools. On the other hand, eToro offers its proprietary platform, eToro, known for its user-friendly interface and robust social trading features. Both brokers cater to traders seeking to replicate successful strategies and leverage the expertise of seasoned traders.

Pepperstone focuses on optimal trading conditions and tools for CFDs, while eToro emphasizes social trading for retail clients. eToro’s strength lies in its proprietary platform that enhances copy trading and sharing of strategies.

Specialised Trading Platforms

Pepperstone provides three powerful trading platforms, including MetaTrader 4 and 5, known for excellent CFD and Forex trading conditions, while eToro only has its social trading platform. Pepperstone’s cTrader features advanced order capabilities and customization.

Each trading platform has its own advantages, including:

• MetaTrader 4 – an easily customisable trading platform that features live quotes, real-time charts, in-depth news and analytics, a variety of technical indicators and order management tools. The software also provides a good environment for automated trading (Expert Advisors)
• MetaTrader 5 – features advanced functionality and superior analysis tools. Opportunity to hedge positions, access 38 built-in indicators and 21-time frames, advanced pending orders and exceptional order execution speed
• cTrader – advanced trading capabilities such as fast entry and execution and coding customisation as well as enhanced market transparency. An institutional trading environment with Level II pricing (depth of market), detailed order tickets and an extensive list of technical indicators

Social Trading With Pepperstone

Pepperstone, unlike eToro, only offers copy trading solution through 4 different third-party platforms:

• Myfxbook – an automatic copy trading feature integrated with MetaTrader 4 and MetaTrader 5. This copy trading platform allows its users to access profile statistics and advanced analytical tools
• MetaTrader Signals – follow free and paid signals without leaving the MetaTrader 4 terminal
• DupliTrade – access leading trading strategies from professional traders. On the downside, DupliTrade require a minimum deposit of AUD $5,000
• Tradency RoboX – a unique database of trading strategies packed into a diversified portfolio that traders can follow and copy in real-time

eToro Proprietary Social Trading Platform

eToro is known for offering the best social trading platforms worldwide. The software empowers retail traders to:

• Copy-trading from a database with over 10 million users through eToro’s dedicated CopyTrader technology
• Discuss new trading ideas or follow the lead of other professional traders through the News Feed (only verified accounts are allowed to use this feature)
• Invest in CopyPortfolios which offers a diversified investment opportunity in a basket of different asset classes that follows the same strategy
• Crypto copy trading with access to +90 cryptocurrency pairs

The CopyPortfolios feature lets traders invest in Top Trader Portfolios, distributing funds across various professionals. eToro also offers CryptoPortfolios for balanced cryptocurrency investments. Clients can copy up to 100 traders, pause, or modify their investments anytime. Overall, copy trading offers a passive income opportunity for beginners with a minimum deposit of USD 200.

Our Better Trading Platform Verdict

Pepperstone offers clients flexibility with 4 third-party services, while eToro is popular for social trading. For the best Forex signals, choose Pepperstone; for general social trading, eToro is preferred. So for this section, takes the cake due to their better trading platform.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

3. Superior Accounts And Features – Pepperstone

To truly appreciate the benefits of superior accounts and features, it’s crucial to explore their advantages for both novice and experienced traders. These accounts provide customized options for various trading needs, featuring competitive spreads, low commissions, and advanced tools. They often include demo accounts, swap-free choices, and a wide range of financial instruments. Enhanced features like social trading, automated trading, and top-notch customer support ensure a smooth trading experience, fostering client satisfaction and loyalty.

We can see here that Pepperstone excels in account types, offering Standard and Razor accounts for various trading styles. The Razor account is favored for its lower spreads and commission structure, making it cost-efficient for traders.

• Pepperstone’s Razor account offers spreads as low as 0.0 pips.
• eToro offers a single account type with a focus on social trading.
• Pepperstone provides a demo account with $50,000 in virtual funds.
• eToro’s demo account comes with $100,000 in virtual money.

eToro, on the other hand, offers a one-size-fits-all account with a strong focus on social trading features like CopyTrader. While this is great for beginners or those interested in social trading, it lacks the customisability that seasoned traders often seek.

Our Superior Accounts and Features Verdict

Our team can easily surmise in this portion that Pepperstone outperforms the challenger due to their superior accounts and features which provides more options and flexibility for different types of traders.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

4. Best Trading Experience And Ease – Pepperstone

To ensure an optimal trading experience, brokers that provide exceptional features truly stand out. These advantages stem from a blend of advanced trading platforms, rapid execution speeds, competitive spreads, and strong customer support. These factors help traders make informed decisions, execute trades easily, and manage accounts confidently. A user-friendly interface and access to educational resources enhance the trading experience, making it more enjoyable and profitable.

Pepperstone is a powerhouse when it comes to trading platforms. With options like MT4, MT5, and cTrader, you’re spoilt for choice. These platforms come with advanced charting tools and lightning-fast execution speeds, which are crucial for traders like us.

• Pepperstone’s MT4 and MT5 platforms offer advanced charting tools.
• eToro’s platform is designed for social trading and is incredibly user-friendly.
• Pepperstone offers a cTrader platform that comes with Level II pricing.
• eToro’s platform is web-based, making it accessible without any downloads.

eToro, on the other hand, offers a unique, user-friendly platform that’s perfect for beginners. It’s web-based, so no downloads are needed, and it’s designed with social trading in mind. It’s all about what fits your trading style.

Our Best Trading Experience and Ease Verdict

Evidently, Pepperstone offers the best trading experience with platforms like MT4, MT5, and cTrader, providing excellent execution speeds for performance and ease of use. For this portion, Pepperstone steals the crown due to their best trading experience and ease.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

5. Stronger Trust And Regulation – Pepperstone

A solid framework of trust and regulation guarantees traders a secure and transparent trading environment. Regulated brokers are held to high standards, safeguarding traders against fraud and malpractice. This builds confidence, encouraging traders to invest more. Reputable brokers with strong regulation attract more clients, enhancing their reputation and market presence.

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Our Stronger Trust and Regulation Verdict

Pepperstone and eToro are safe to trade with, licensed by top regulators. Pepperstone holds client funds in segregated accounts with NAB and Barclays UK, while eToro also uses segregated accounts with tier-1 banks. So, for this portion, we can safely say that both brokers have made a draw.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

6. Top Product Range And CFD Markets – Pepperstone

A comprehensive product range and access to diverse CFD markets are crucial for successful forex trading, as they enable traders to diversify their portfolios and leverage various market conditions. Brokers offering various financial instruments like forex, commodities, indices, and cryptocurrencies create numerous profit opportunities and enhance the trading environment, supporting diverse strategies.

Clearly, we can see here that Pepperstone offers over 93 forex pairs and a wide range of CFDs including indices, commodities, and cryptocurrencies. eToro isn’t far behind, offering over 55 forex pairs and a staggering range of over 2,000 stock CFDs.

Our Top Product Range and CFD Markets Verdict

Pepperstone offers a broader range of stock CFDs, making it the go-to for traders looking to diversify their portfolios. And for this section, our team confirms that eToro outshines due to their top product range and CFD markets.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

7. Superior Educational Resources – eToro

High-quality educational resources are essential in the industry of forex trading. They offer traders an extensive array of learning materials, such as webinars, articles, video tutorials, and organized courses. These resources provide traders with essential knowledge and skills for informed decision-making, strategy refinement, and confident navigation of the forex market, fostering continuous learning for long-term success.

Pepperstone offers a robust educational platform with free webinars, tutorials, and a well-structured FAQ section. eToro takes it up a notch with an education centre that offers interactive courses and webinars.

• Pepperstone’s educational resources include free webinars and tutorials.
• eToro offers an education centre complete with interactive courses.
• Pepperstone provides market analysis reports to keep you updated.
• eToro has a ‘CopyTrader’ feature that allows you to learn from successful traders.
• Pepperstone has a well-structured FAQ section for quick answers.
• eToro provides a comprehensive glossary for trading terms.

Our Superior Educational Resources Verdict

From our team’s perspective, eToro excels well in this field due to their superior educational resources.

eToro ReviewVisit eToro

*Your capital is at risk ‘74% of retail CFD accounts lose money’

8. Superior Customer Service – Pepperstone

For brokers that excel in providing superior customer service in forex trading truly shine by delivering timely support and guidance, which cultivates a smooth and confident trading experience. Their commitment includes responsive 24/7 live chat, phone, and email support, along with multilingual assistance. Such exceptional service enables traders to swiftly resolve issues, boosts their overall satisfaction, and fosters a strong sense of trust in their broker.

Pepperstone offers 24/5 customer support through live chat, phone, and email. eToro extends its customer service to the weekends but lacks phone support.

Pepperstone provides 24/5 customer support through live chat, email, and phone, with quick responses via live chat. Clients can also use an online form on their website. In contrast, eToro offers support through live chat or a ticketing system, responding via email.

eToro’s live chat link is hard to find, located below the FAQ in the “Help Center.” It often appears offline, and there’s no phone support available, which are drawbacks.

Our Superior Customer Service Verdict

Pepperstone’s customer support is professional, offering direct access to real FX experts via live chat, making it easier to connect with them. So, in this category, Pepperstone comes out on top due to their superior customer service.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

9. Better Funding Options – Pepperstone

Enhanced funding options in forex trading significantly increase flexibility and convenience for traders. These options encompass a range of methods, including bank transfers, credit and debit cards, digital wallets like PayPal, Skrill, and Neteller, as well as cryptocurrencies. Multiple low or no-fee funding methods allow traders to easily manage accounts, making deposits and withdrawals efficient, enhancing their trading experience.
Pepperstone offers a variety of funding options including credit card, PayPal, bank transfer, Skrill, and Neteller. eToro also offers multiple options but lacks Skrill and Neteller.

Our Better Funding Options Verdict

We can safely confirm that Pepperstone come up trumps in light of their better funding options and offers of a wider range of funding options, giving you more flexibility.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

10. Lower Minimum Deposit – Pepperstone

A reduced minimum deposit is crucial in the forex trading industry, as it enhances accessibility for a broader spectrum of traders, including novices and individuals with limited resources. Lowering financial barriers allows traders to enter with smaller investments, fostering inclusivity and enabling skill refinement without heavy initial costs.
Pepperstone requires a minimum deposit of $200, which might be a bit steep for some. eToro, on the other hand, only requires a $50 minimum deposit, making it more accessible for those just starting out.

Our Lower Minimum Deposit Verdict

eToro truly outshines in this category owing to their lower minimum deposit, and, according to our team, is the better choice for traders looking for a lower entry point.

Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

Our Final Verdict If eToro Or Pepperstone Is Best?

Pepperstone come up on top here all because they offer a more comprehensive trading experience, from lower spreads to superior customer service. The table below summarises the key information leading to this verdict.

eToro: Best For Beginner Traders

For beginner traders, eToro is the better choice due to its user-friendly platform and educational resources.

Pepperstone: Best For Experienced Traders

For experienced traders, Pepperstone is the go-to for its advanced trading platforms and lower spreads.