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Pepperstone vs eToro for US stocks
eToro gives you the actual share; Pepperstone gives leveraged exposure to the price without ownership. That is not a preference — it is a different product, with different tax, dividend and risk treatment.
Pick Pepperstone if non-US residents trading US shares as CFDs. Pick eToro if beginners.
A CFD and spread-betting broker, not a US stockbroker. It is on this site because for most non-US traders it is one of the few regulated routes to US-share exposure with leverage.
Visit PepperstoneWhether a position is a real share or a derivative is decided by your region and leverage setting — check before assuming ownership.
Visit eToroSide by side
| Pepperstone | eToro | |
|---|---|---|
| What you hold | A CFD on the price | The share |
| US stock access | 1,000+ US share CFDs | 3,000+ stocks across US and global exchanges |
| Minimum deposit | None | $50 |
| Fractional shares | n/a | Yes |
| Published pricing | US share CFDs are commission-based on the Razor account and spread-based on Standard; overnight financing applies to positions held past the close. | $0 commission on real stock investing in most regions; currency conversion and withdrawal fees apply. |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView | eToro web, eToro mobile |
| Extended hours | Selected US share CFDs only — check the instrument schedule | Not offered on real-stock orders |
| Regulation | FCA 684312, ASIC 414530, CySEC 388/20, DFSA F004356, BaFin 151148 | FCA 583263, CySEC 109/10, ASIC 491139 |
| Founded | 2010 | 2007 |
Where each one wins
Pepperstone
- Non-US residents trading US shares as CFDs
- Leveraged short-term positions
- MetaTrader and TradingView users
- CFDs are leveraged: you do not own the share, get no shareholder rights, and can lose more than you expect
- Not available to US residents
eToro
- Beginners
- Copy trading
- Mixing real shares and CFDs in one app
- Whether you get a real share or a CFD depends on your region and whether leverage is applied
- FX conversion costs on non-USD deposits
Frequently asked questions
Pepperstone or eToro — which is better for US stocks?
eToro gives you the actual share; Pepperstone gives leveraged exposure to the price without ownership. That is not a preference — it is a different product, with different tax, dividend and risk treatment. Pepperstone: non-US residents trading US shares as CFDs. eToro: beginners.
Which is cheaper?
Pepperstone: US share CFDs are commission-based on the Razor account and spread-based on Standard; overnight financing applies to positions held past the close. eToro: $0 commission on real stock investing in most regions; currency conversion and withdrawal fees apply. Both figures are restated from each broker's own pricing page; for small non-USD accounts, currency conversion usually costs more than commission does.
Which is better regulated?
Pepperstone is authorised by FCA, ASIC, CySEC, DFSA, BaFin; eToro by FCA, CySEC, ASIC. What matters is which entity holds your account, since that determines your compensation scheme and leverage limits.
Reviewed August 2026. Figures restated from each broker's published pages.