I’ve been using etoro for numerous years now and i have to say because my last etoro review video the platform itself has changed a hell of a lot i believed what better chance with the brand-new year to offer a new review on etoro talk about the excellent points the bad points and the things that etoro desperately needs to enhance on if it is undoubtedly to contend 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 new brokerage account and etoro is a choice then this video is for you all i ask in return is if you find this video advantageous you carefully tap that like button to help me out with the youtube gods and without further 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 utilize i do have a number of accounts of them and i have used them for numerous years nevertheless i do feel there is numerous locations that etor frantically needs to enhance on if it is indeed to contend and i’ll be quite severe in slamming them in this video i feel like it’s just fair as somebody who does use etoro on a daily basis to provide the severe and honest reality on the negative side as well as the positive side however total i do have to say i am overly delighted with them and if you are looking for a 2nd brokerage account or our brand-new financier i would just say dive 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
comment and follow the actions there you do in fact get life time access to our lwt etoro discord so you can interact with other financiers directly even if you do open the account recognize it’s not for you that chatroom is easily offered for you just follow the steps down on the pinned comments let’s start about who etoro is and what they have to do with they are an absolute mega giant of a broker over here in europe and they are about to launch stock trading in the us which i feel will be the biggest game changer for this company i have to say myself as someone who has actually operated in finance for over 15 years etoro are setting about it the proper way they are regulated in various jurisdictions and they are expanding at the best speed ensuring all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for example they are regulated with the fca over in the uk sysek over in cyprus they’re controlled in australia and naturally they are on the finra website over in the us as i stated u.s stock trading is coming very soon however the reality that they are taking their time over in
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the us prior to they launch stock trading over the last year or two is actually a great sign for me since they’re ensuring they don’t have a scenario where they leave themselves open to suits or they screw up with regulation it seems every second week robin hood has some court case or some huge grievance they need to handle we have crypto brokers like binance over in the uk facing severe problem with the fca and the regulation there it appears that etoro are taking the best steps initially before they introduce making sure that the customers are in the most safe possible position and they do not leave themselves open i have to say this is an excellent sign for a contemporary brokerage with an app unlike the old standard saxo bank and interactive brokers a contemporary commission totally free platform more on that later going the best actions ensuring that all the eyes are dotted or the t’s are crossed before they open in any area they are in fact operating in this shows me that etoro is aiming to remain for the long term and they have clear objectives of growing to be one of the biggest brokerages in the world now the minimum amount needed to open an account does differ on where you are located on screen now you can see the minimums readily available however if you are from the us or the uk
the minimum to open an account is actually 10 dollars and a great deal of other nations it’s only fifty dollars so you can go ahead inspect this link it will remain in the description and see how much it costs to open an account with etoro in your jurisdiction now like i stated etoro is a commission free brokerage however obviously brokers want to make money so how the hell do they do that well the first obvious fee is if you take money out of your account there’s a 5 dollars cost however to be honest that probably gets involved transaction costs and he toro probably does not see that much of it the method they make their money is on something called a spread if you go onto a lot of 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 very small cost which is called the spread that is the cost that etoro will possibly keep this trade that’s how they make 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 slightly greater price and the easiest way of describing this is if you purchased state apple in this example on screen from time to time you quickly put it in your portfolio you will see a slight loss on this trade week one day one minute one 2nd one which percentage loss is how much it cost you to open that trade or you can even really drop in the dollar charge of just how much it roughly cost you to open said trade however after using this platform for a long time when you close the trade also there is a slight difference and what happens here is etoro tends to compute the distinction 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 really do close a trade rather a lot of the time the charge that i get charged is a lot less than the initial charge that i had for opening the trade itself however this is the normal standard structure these days for a lot of brokers that provide commission open markets if you do not want to pay a spread you can go and open an interactive brokers account a saxo checking account or some of the other advanced platforms and you will get charged a fixed cost per trade but for me personally i believe for more recent investors particularly this is a more affordable method of doing things now what does etoro have to use well they offer stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and numerous a lot more possessions like commodities and forex or currencies however having a platform that allows you to trade several sectors is absolutely advantageous for instance you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is many different elements readily available with this platform and i feel in the contemporary world we live in currency commodities things of the sort are certainly more required in brokerage homes particularly for the brand-new financier nevertheless i did point out cfds though which is a contract for difference these are essentially agreements that brokerage or other institutions can offer a client to buy a company usually it’s a method of having a lot more take advantage of without actually owning any of the stock you are earning an agreement with stated institution now cfds are actually not available to individuals in the us but they are readily available to people over in europe and in the uk but i need to state given the scariness of utilize and more than 60
of people trading cfds lose money i just totally stay away from cfds specifically if you are a more recent or intermediate financier and on that also simply keep away from leverage it’s not really helpful for your portfolio now before we proceed to the two most popular things with etoro and things that individuals tend to enjoy the most we need to speak about the stocks etfs and products now this is the most significant issue etoro has in my opinion and they are looking at altering this really 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 wish to trade or etfs they do not have them all and they are including them at a fairly slow rate they do not want to include every cent stock under the sun that no one’s actually trading like i said they make their cash on the spread so the more individuals trading a stock the more money they make if they included a low-cap penny stock that only one individual’s trading each and every single day they’re not going to make that much money so they are only adding stocks that they feel that an advantageous and b well less risky i in fact see this as a bit of a favorable for brand-new investors although for someone like myself who’s had a lot more
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experience it is quite annoying that some of the stocks that i do want to trade or at least look at and not on the platform now that stated i have spoken to etoro on this and they have promised me that a lot more stocks at record volumes are going to be included this year so by the time this video comes out it might not even be that pertinent however i make sure if you are a torah user and seeing this it can be frustrating that maybe one out of 10 stocks is actually not readily available on the platform so let’s hope etoro views this video and it alters really soon now the two most popular things on etoro is the social platform and the popular investing program
Just offered in 43 states
All U.S. locals can register for a virtual trading account. Nevertheless, there are just 43 states (together with Washington D.C. and the Northern Mariana Islands) where you can use real money to buy and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York City, Nevada, and Tennessee consumers currently can not trade with eToro. The business intends to have 50-state availability ultimately. Until then, some traders will need to look in other places.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the exact same place: Robinhood uses trading in stocks and alternatives, including fractional shares. In addition, it provides 7 various cryptocurrencies and charges no deal charges.