Share Trading comparison
eToro vs Pepperstone
The biggest difference between eToro and Pepperstone is that eToro lets you buy real ASX and US shares (including fractional shares) with zero brokerage, while Pepperstone only offers share CFDs — you never actually own the underlying stock. If you want to build a real portfolio of ASX or US equities, eToro is the pick. If you're after leveraged CFD trading on global indices and currencies, Pepperstone is the specialist.
Choose
eToro
if…
- ›You want to buy real ASX and US shares with zero commission and no monthly fees
- ›You want to invest small amounts regularly — fractional shares on ASX and US stocks are supported, with a $50 minimum
- ›You want a simple, all-in-one platform for shares, crypto and CFDs without needing separate accounts
- ›You want auto-invest / DCA functionality to dollar-cost average into positions automatically
- ›You want a demo account and educational video courses to learn before committing real money
Choose
Pepperstone
if…
- ›You want to trade leveraged CFDs on a wide range of global markets — indices, forex, commodities and shares — with tight spreads
- ›You want a desktop trading platform (eToro has no desktop app) and 24/5 phone support with a Melbourne-based team
- ›You want zero inactivity fees and no minimum deposit to get started
- ›You want after-hours / overnight trading capability on CFD positions
- ›You want to open a joint account — eToro doesn't offer joint accounts
Where they differ
| Fact | eToro | Pepperstone |
|---|---|---|
| Real shares vs CFDs only | Real ASX and US shares (custodian model) | Share CFDs only — no real share ownership |
| ASX brokerage | $0 | $5 minimum + 0.07% |
| Inactivity fee | $10 | $0 |
| Minimum deposit | $50 | $0 |
| Desktop platform | No desktop app | Desktop platform available |
Verdict
Choose eToro for real, zero-commission share investing; choose Pepperstone for leveraged CFD trading with professional-grade tools.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | eToro | Pepperstone |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | — |
| Individual HIN | No | — |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | No |
| Kids / minor account | No | No |
| asset coverage | ||
| ASX shares supported | Yes | No |
| ASX ETFs supported | Yes | No |
| US shares supported | Yes | No |
| US ETFs supported | Yes | No |
| Other markets supported | United States, United Kingdom, Germany, France, Hong Kong, Italy, Spain, Netherlands, Sweden, Belgium, Denmark, Norway, Finland, Switzerland, Portugal | US, UK, DE, FR, HK, BE, CH, DK, NO, SE, FI, IE, PT, ES, AT, AU |
| Fractional shares (ASX) | Yes | No |
| Fractional shares (US) | Yes | No |
| Options trading | No | No |
| CFDs supported | Yes | Yes |
| Crypto trading | Yes | — |
| Managed funds | No | No |
| Bonds supported | No | No |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.75% | 50% |
| FX spread (other currencies) | — | 50% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | No |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Corporate action fees | eToro passes through cash dividends from non-leveraged real positions (debit/credit to wallet). It does not facilitate participation in rights issues, share purchase plans (SPPs), DRPs or shareholder votes because shares are held in a managed investment scheme by the custodian, not in the user's name. No explicit fee, but corporate action access is materially restricted. | Not applicable — Pepperstone offers share CFDs only, not real shares. Clients have no entitlement to rights issues, SPPs, takeover offers or shareholder voting. Dividend adjustments are passed through as cash entries on share CFD positions (credited on longs, debited on shorts, with franking credits not passed through). |
| costs visible | ||
| ASX brokerage minimum | $0 | — |
| ASX brokerage percentage | 0% | — |
| ASX free trade conditions | Zero commission applies to all non-leveraged (real) ASX share and ETF purchases. Leveraged / short positions are executed as CFDs and incur 0.15% open/close spread plus overnight financing. | — |
| US brokerage minimum | US$0 | — |
| US brokerage percentage | 0% | — |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $10 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| identity and trust | ||
| Legal entity name | eToro AUS Capital Limited | Pepperstone Group Limited |
| AFSL number | 491,139 | 414,530 |
| AUSTRAC registration | Yes | — |
| Year founded | 2,017 | 2,010 |
| Parent / ownership | eToro Group Ltd (NASDAQ: ETOR) — listed 14 May 2025; originally founded in Israel by Yoni and Ronen Assia. eToro AUS Capital Limited is a wholly-owned Australian subsidiary. | Privately held. Majority owner FX Group Holdings (Fiona Lock, CEO Tamas Szabo and Andrew Defina) acquired the 60% stake previously held by CPE Capital (formerly CHAMP Private Equity) in 2018; founders Owen Kerr and Joe Davenport retain the remaining 40%. |
| Country of incorporation | Australia | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $50 | $0 |
| Minimum subsequent purchase | $50 | $0 |
| Deposit methods | Bank transfer, Debit card, Credit card, PayPal, Skrill, Neteller, POLi, Online banking | PayID, BPAY, bank transfer, debit card, credit card, PayPal, Apple Pay, Google Pay, Neteller, Skrill |
| Settlement period | T+2 ASX, T+1 US (settlement managed by the eToro Service custodian; user funds reflect immediately in eToro wallet) | N/A (CFDs are not settled — positions are open derivative contracts marked-to-market continuously, with overnight swap charges in lieu of settlement) |
| Withdrawal time | 1-2 business days for eToro processing; total 2-10 business days end-to-end depending on payment method (bank transfer longer than card) | Up to 2 business days for cards, PayID, BPAY and domestic bank transfer; up to 1 business day for PayPal/Neteller/Skrill. |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | Yes |
| Demo account | Yes | Yes |
| Free real-time market data | Yes | Yes |
| Free research reports | No | Yes |
| 2FA support | SMS + authenticator app | authenticator |
| Customer support channels | Live chat (Club members only), Email / web ticket, Help centre | phone, email, live chat |
| Support hours (AU time) | — | 24/5 (Monday morning AEST to Saturday morning AEST), with 18 hours coverage on weekends; Melbourne-based Australian support team available during AEST business hours. |
| Education content | video + courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | No |
| Distribution component breakdown | — | No |
| CGT calculator / report | Yes | No |
| Sharesight / Navexa integration | No | No |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | Yes | No |
| Auto-invest sophistication | multiple | none |
| DRP (dividend reinvestment) | No | No |
| After-hours / overnight trading | No | Yes |