Pepperstone vs eToro for CFD trading in Australia
Verdict
- For CFD trading in Australia we pick Pepperstone over eToro: Pepperstone's Razor all-in EUR/USD cost averages 0.7–0.8 pips, while eToro's published EUR/USD spread starts at 1 pip.
- eToro AUS Capital Limited holds ASIC AFSL 491139; Pepperstone Group Limited holds AFSL 414530.
- eToro runs its own web platform and app only; Pepperstone adds MT4, MT5, cTrader and TradingView.
- Both have a $10 minimum deposit and both offer an AUD account.
eToro and Pepperstone both accept Australians with a $10 starting deposit, but they are built for different users. eToro is a single proprietary app; Pepperstone is a CFD specialist with raw pricing. For pure CFD trading, the published costs favour Pepperstone.
Why Pepperstone is the better CFD account
On EUR/USD, eToro's published spread is 'from 1 pip' and GBP/USD 'from 2 pips', both minimums. Pepperstone's Standard account averages 1.1 pips on EUR/USD and 1.2 on GBP/USD, so even its commission-free account sits close to eToro's best case, and Razor goes lower: 0.1 pips plus USD 6–7 commission per round turn. On GBP/USD the difference is larger, with Pepperstone's Standard average below eToro's 2-pip minimum.
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Side-by-side terms
| Pepperstone | eToro | |
|---|---|---|
| ASIC licence | AFSL 414530 | AFSL 491139 (eToro AUS Capital Limited) |
| EUR/USD | Razor 0.1 avg + commission; Standard 1.1 avg | from 1 pip |
| GBP/USD | Razor 0.2 avg; Standard 1.2 avg | from 2 pips |
| Platforms | Own app, MT4, MT5, cTrader, TradingView | eToro web platform and app |
| Minimum deposit | $10 | $10 |
| Withdrawal time | E-wallets up to 1 business day; cards and PayID up to 2 | Up to 10 business days by card or bank; e-wallets up to 2 |
When eToro might still suit you
If you want everything in one simple app and don't need MetaTrader or cTrader, eToro's interface may be enough. eToro's fee terms also refer to real stocks, ETFs and crypto alongside CFDs, while everything on Pepperstone's Australian product list is margin FX or a CFD. If owning assets outright matters to you, check eToro's Australian product terms directly. Pepperstone's Australian site has no copy-trading page, so traders looking for copy features should compare that separately.
Checklist before choosing
- Write down the instruments and sizes you plan to trade.
- Price one round turn of each at both brokers, using Pepperstone's averages and eToro's live spread.
- Check withdrawal routes: Pepperstone lists PayID, BPAY, cards, PayPal, Neteller, Skrill and bank transfer, all free.
- Read each provider's PDS and Target Market Determination.
Sources
Is eToro regulated in Australia?
Yes, through eToro AUS Capital Limited, AFSL 491139.
Can I hold an AUD account at both?
Yes. eToro lists AUD among its local-currency accounts, and Pepperstone offers AUD as a base currency.
Which is faster to withdraw from?
Pepperstone's published times are shorter: up to 1 business day for e-wallets and 2 for cards. eToro lists up to 10 business days for cards and bank transfers.
Trading CFDs with leverage can lose you money quickly, including all of the funds you deposit. Nothing here is personal advice; broker terms change, so confirm them on the broker's own site and in its Product Disclosure Statement.