eToro vs Pepperstone
Since 9 May 2013, ETORO (UK) LIMITED has been authorised by the FCA, FRN 583263, and it holds client money. Since 5 Aug 2015, Pepperstone Limited has been authorised by the FCA, FRN 684312, and it holds client money.
eToro and Pepperstone side by side
Every figure comes from the broker itself, and we note the date we read it. You see them in the sequence people search them in, which isn't a preference.
| Fact | eToro | Pepperstone |
|---|---|---|
| UK firm | ETORO (UK) LIMITED | Pepperstone Limited |
| FRN | 583263 | 684312 |
| Regulatory status | Authorised | Authorised |
| Authorised since | 9 May 2013 | 5 Aug 2015 |
| Clone firms on the register | 5 | 3 |
| Retail CFD accounts that lose money | 55%, read 2 Nov 2026 | 73.6%, read 2 Nov 2026 |
| EUR/USD spread as stated | 0.005% per trade (minimum, Standard) | 0 pips (minimum, Razor) |
| Smallest deposit | £50 | £10 |
| Inactivity fee | Not stated | no inactivity fee |
| Withdrawal fee | No charge on local currency (GBP) accounts; USD 5 applies to a USD investment account | No charge (GBP 15 for a bank wire to an international bank account)) |
| Withdrawal time | Not stated | cards/Apple Pay/Google Pay within 1 working day; bank transfers take up to 7 working days |
| CFDs | Yes | Yes |
| Spread betting | Not stated | Yes |
| Share dealing | Yes | Not stated |
| Retail leverage | Not stated | Major currency pairs sit at 1:30; gold and major indices at 1:20; other commodities at 1:10; shares at 1:5 |
| Platforms | Etoro platform and app (etoro edge terminal) | MT4, MT5, cTrader, TradingView, Pepperstone platform |
| Demo account | Yes | Yes |
| Negative balance protection | Not stated | Yes |
| iPhone app rating, UK App Store | 4.24 of 5 (18,299 ratings) | 4.12 of 5 (92 ratings) |
For both brokers, the FCA status, CFDs and demo account are the same.
Sources: etoro.com, read 2 Nov 2026; pepperstone.com/en-gb, read 2 Nov 2026; etoro.com/trading/fees/cfd-spreads, read 2 Nov 2026; pepperstone.com/en-gb/trading/costs-and-fees, read 2 Nov 2026; pepperstone.com/en-gb/trading/funding-methods, read 2 Nov 2026.
How the two loss rates stand against the wider field
The full risk warning from each broker
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Trading CFDs with this provider, 55% of retail investor accounts lose money. You should consider two points: whether you know how CFDs work and whether the high risk of losing your money is something you can afford.
On etoro.com, eToro's own words, read 2 Nov 2026.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. When retail investors trade spread bets and CFDs with this provider, 73.6% of their accounts lose money. You should consider two points: whether you know how both spread bets and CFDs operate and whether you can afford the high risk of losing your money.
On pepperstone.com, Pepperstone's own words, read 2 Nov 2026.