I’ve been using etoro for several years now and i have to state considering that my last etoro evaluation video the platform itself has changed a hell of a lot i believed what much better chance with the brand-new year to give a brand-new review on etoro talk about the great points the bad points and the things that etoro desperately needs to improve on if it is certainly to complete with the likes of robin hood when it opens stock trading in the us so if you are new to investing or are just looking for a brand-new brokerage account and etoro is an alternative then this video is for you all i ask in return is if you discover this video beneficial you carefully tap that like button to help me out with the youtube gods and without more ado let’s get on with the video so right off the bat i want to clarify etoro is not the sole brokerage account i use i do have a number of accounts of them and i have utilized them for several years nevertheless i do feel there is numerous locations that etor desperately requires to enhance on if it is undoubtedly to contend and i’ll be rather harsh in slamming them in this video i feel like it’s just fair as someone who does utilize etoro on a day-to-day basis to provide the extreme and honest fact on the unfavorable side as well as the positive side nevertheless overall i do have to say i am overly delighted with them and if you are looking for a second brokerage account or our new investor i would just state jump in the minimums are quite low provide it a try and see if it fits your needs and if you do so through the affiliate link down on the pinned
remark and follow the actions there you do in fact get life time access to our lwt etoro discord so you can connect with other financiers directly even if you do open the account realize it’s not for you that chatroom is readily offered for you just follow the steps down on the pinned remarks let’s start about who etoro is and what they have to do with they are an outright mega giant of a broker over here in europe and they will release stock trading in the us which i feel will be the biggest video game changer for this company i need to state myself as someone who has actually operated in financing for over 15 years etoro are setting about it the right way they are managed in various jurisdictions and they are broadening at the best speed ensuring all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for instance they are regulated with the fca over in the uk sysek over in cyprus they’re regulated in australia and of course they are on the finra website over in the us as i stated u.s stock trading is coming soon however the truth that they are taking their time over in
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the us before they introduce stock trading over the last year approximately is really a great sign for me since they’re ensuring they do not have a situation where they leave themselves open to lawsuits or they mess up with policy it seems every second week robin hood has some lawsuit or some huge grievance they have to deal with we have crypto brokers like binance over in the uk facing severe difficulty with the guideline and the fca there it seems that etoro are taking the right steps first before they introduce making certain that the clients are in the safest possible position and they do not leave themselves open i need to say this is a terrific sign for a modern brokerage with an app unlike the old conventional saxo bank and interactive brokers a contemporary commission free platform more on that later going the right actions making certain that all the eyes are dotted or the t’s are crossed before they open in any location they are actually working in this shows me that etoro is wanting to remain for the long term and they have clear aims of growing to be one of the biggest brokerages on the planet now the minimum amount needed to open an account does differ on where you are located on screen now you can see the minimums available but if you are from the us or the uk
the minimum to open an account is really 10 dollars and a great deal of other countries it’s just fifty dollars so you can go on check this link it will be in the description and see how much it costs to open an account with etoro in your jurisdiction now like i said etoro is a commission free brokerage but naturally brokers wish to generate income so how the hell do they do that well the very first obvious fee is if you take cash out of your account there’s a five dollars fee however to be truthful that most likely gets involved deal charges and he toro probably does not see that much of it the way they make their cash is on something called a spread if you go onto many brokers these days unless you’re getting charged a flat rate you will see that when you purchase a stock and when you sell a stock there’s a little distinction in between typically it’s just a really little charge and that is called the spread that is the fee that etoro will potentially keep on this trade that’s how they earn money due to the fact that they are not charging you a commission to open the trade they’re simply opening the trade at a somewhat greater cost and the most convenient way of describing this is if you purchased say apple in this example on screen once in a while you quickly put it in your portfolio you will see a minor loss on this trade week one day one minute one second one and that percentage loss is just how much it cost you to open that trade or you can even in fact go and see the dollar fee of how much it approximately cost you to open said trade nevertheless after utilizing this platform for a long time when you close the trade also there is a slight difference and what occurs here is etoro tends to calculate the difference and that is how much they have actually made i have actually tracked this for a long period of time and seen that
when i actually do close a trade rather a lot of the time the fee that i get charged is a lot less than the preliminary charge that i had for opening the trade itself but this is the normal standard structure nowadays for a great deal of brokers that offer commission open markets if you do not wish to pay a spread you can go and open an interactive brokers account a saxo bank account or a few of the other more advanced platforms and you will get charged a repaired charge per trade but for me personally i think for more recent investors particularly this is a much cheaper method of doing things now what does etoro need to use well they offer stocks etfs cryptocurrency cfds more on that in simply a second copy trading and many much more assets like commodities and foreign exchange or currencies but having a platform that permits you to trade multiple sectors is absolutely beneficial for instance you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is several aspects offered with this platform and i feel in the modern day world we live in currency products things of the sort are definitely more needed in brokerage houses especially for the new financier however i did mention cfds though which is a contract for difference these are essentially agreements that brokerage or other institutions can use a customer to buy a business normally it’s a method of having a lot more take advantage of without in fact owning any of the stock you are making a contract with said organization now cfds are actually not readily available to individuals in the us but they are offered to people over in europe and in the uk however i have to state offered the scariness of take advantage of and more than 60
of people trading cfds lose cash i just totally stay away from cfds especially if you are a more recent or intermediate investor and on that also simply stay away from utilize it’s not really good for your portfolio now before we carry on to the two most popular things with etoro and things that individuals tend to love the most we require to speak about the stocks etfs and commodities now this is the greatest problem etoro has in my viewpoint and they are looking at changing this very very soon in fact i believe it’s one of their greatest objectives for 2022. now although etoro tends to have most the stocks that you want to trade or etfs they do not have them all and they are including them at a fairly slow rate they do not wish to add every penny stock under the sun that nobody’s in fact trading like i stated they make their cash on the spread out so the more individuals trading a stock the more money they make if they added in a low-cap penny stock that only one individual’s trading every day they’re not going to make that much money so they are only including stocks that they feel that an advantageous and b well less risky i really see this as a little bit of a favorable for brand-new investors although for somebody like myself who’s had a lot more
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experience it is quite bothersome that some of the stocks that i do wish to trade or a minimum of take a look at and not on the platform now that stated i have actually spoken with etoro on this and they have promised me that a lot more stocks at record volumes are going to be added this year so by the time this video comes out it might not even be that relevant but i make certain if you are a torah user and enjoying this it can be annoying that possibly one out of 10 stocks is in fact not readily available on the platform so let’s hope etoro views this video and it changes very soon now the two most popular things on etoro is the popular investing and the social platform program
Only offered in 43 states
All U.S. homeowners can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee consumers presently can not trade with eToro.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the very same location: Robinhood provides trading in stocks and alternatives, including fractional shares. In addition, it provides 7 different cryptocurrencies and charges no transaction charges.