I have actually been using etoro for numerous years now and i have to state because my last etoro review video the platform itself has altered a hell of a lot i thought what much better opportunity with the new year to provide a new evaluation on etoro talk about the good points the bad points and the things that etoro desperately requires to improve 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 brand-new to investing or are simply 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 find this video beneficial you carefully tap that like button to assist me out with the youtube gods and without additional ado let’s get on with the video so right off the bat i desire to clarify etoro is not the sole brokerage account i utilize i do have a number of accounts of them and i have actually used them for numerous years nevertheless i do feel there is many areas that etor desperately needs to enhance on if it is indeed to complete and i’ll be rather severe in slamming them in this video i feel like it’s only fair as somebody who does use etoro on an everyday basis to give the truthful and severe fact on the unfavorable side as well as the favorable side nevertheless general i do have to say i am extremely delighted with them and if you are looking for a 2nd brokerage account or our new investor i would just state jump in the minimums are rather low provide it a try and see if it fits your requirements and if you do so through the affiliate link down on the pinned
comment and follow the steps there you do really get life time access to our lwt etoro discord so you can engage with other investors directly even if you do open the account recognize it’s not for you that chat room is readily offered for you just follow the steps down on the pinned remarks let’s start about who etoro is and what they’re about they are an absolute mega giant of a broker over here in europe and they are about to release stock trading in the us which i feel will be the most significant video game changer for this company i need to state myself as somebody who has operated in finance for over 15 years etoro are tackling it the right way they are managed in many different jurisdictions and they are expanding at the best pace making certain all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for instance they are controlled with the fca over in the uk sysek over in cyprus they’re managed in australia and obviously they are on the finra website over in the us as i stated u.s stock trading is coming soon nevertheless the fact that they are taking their time over in
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the us before they introduce stock trading over the last year or so is actually a great sign for me because they’re ensuring they do not have a circumstance where they leave themselves open to lawsuits or they screw up with policy it seems every second week robin hood has some lawsuit or some big problem they need to handle we have crypto brokers like binance over in the uk facing severe trouble with the fca and the guideline there it seems that etoro are taking the right steps initially before they release ensuring that the clients remain in the most safe possible position and they don’t leave themselves open i need to say this is a terrific sign for a modern brokerage with an app unlike the old traditional saxo bank and interactive brokers a contemporary commission totally free platform more on that later going the right actions making sure that all the eyes are dotted or the t’s are crossed before they open in any area they are actually working in this reveals me that etoro is wanting to stick around for the long term and they have clear objectives of growing to be among the biggest brokerages on the planet now the minimum amount required to open an account does differ on where you lie on screen now you can see the minimums offered but if you are from the us or the uk
the minimum to open an account is in fact 10 dollars and a great deal of other countries it’s only fifty dollars so you can go ahead examine 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 totally free brokerage however of course brokers want to make money so how the hell do they do that well the first apparent cost is if you take money out of your account there’s a five bucks charge but to be sincere that probably gets involved transaction charges and he toro most likely does not see that much of it the method they make their cash is on something called a spread if you go onto the majority of brokers nowadays unless you’re getting charged a flat rate you will see that when you buy a stock and when you offer a stock there’s a little distinction in between usually it’s just a really small charge and that is called the spread that is the charge that etoro will potentially keep on this trade that’s how they make money since they are not charging you a commission to open the trade they’re simply opening the trade at a somewhat higher cost and the simplest method of explaining this is if you bought state apple in this example on screen now and then you instantly put it in your portfolio you will see a minor loss on this trade week one day one minute one 2nd one and that percentage loss is how much it cost you to open that trade or you can even actually see the dollar and go fee of just how much it approximately cost you to open stated trade however after using 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 which is how much they have actually made i have tracked this for a long time and seen that
when i really do close a trade quite a lot of the time the fee that i get charged is a lot less than the preliminary cost that i had for opening the trade itself but this is the regular standard structure these days for a lot of brokers that use commission free trades if you don’t wish to pay a spread you can go and open an interactive brokers account a saxo savings account or some of the other more advanced platforms and you will get charged a repaired fee per trade but for me personally i believe for more recent investors especially this is a much cheaper way of doing things now what does etoro need to use well they use stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and many a lot more properties like commodities and forex or currencies but having a platform that permits you to trade several sectors is definitely advantageous for example you can short bitcoin and go long silver you could likewise short the japanese yen and go long into gold there is various elements offered with this platform and i feel in the contemporary world we reside in currency products things of the sort are definitely more needed in brokerage houses particularly for the brand-new financier nevertheless i did point out cfds though which is a contract for distinction these are generally agreements that brokerage or other organizations can offer a client to buy a company typically it’s a way of having a lot more take advantage of without really owning any of the stock you are earning an agreement with said organization now cfds are in fact not offered to people in the us but they are available to people over in europe and in the uk but i need to say given the scariness of leverage and more than 60
of individuals trading cfds lose money i simply totally keep away from cfds especially if you are a newer or intermediate investor and on that too just stay away from utilize it’s not truly great for your portfolio now before we carry on to the two most popular things with etoro and things that individuals tend to like the most we need to talk about the stocks etfs and commodities now this is the greatest problem etoro has in my opinion and they are taking a look at changing this really soon in fact i think it is among their biggest 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 adding them at a reasonably slow rate they do not wish to include every cent stock under the sun that nobody’s in fact trading like i stated they make their cash on the spread out so the more people trading a stock the more cash they make if they added in a low-cap penny stock that only one person’s trading each and every single day they’re not going to make that much money so they are just including stocks that they feel that an advantageous and b well less dangerous i in fact see this as a little a favorable for new investors although for somebody like myself who’s had a lot more
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experience it is quite irritating that some of the stocks that i do want to trade or a minimum of look at and not on the platform now that said i have actually spoken with etoro on this and they have guaranteed 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 may not even be that appropriate however i’m sure if you are a torah user and enjoying this it can be irritating that perhaps one out of 10 stocks is in fact not available on the platform so let’s hope etoro sees this video and it alters really soon now the two most popular things on etoro is the social platform and the popular investing program
Only available in 43 states
All U.S. residents can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee customers presently can not trade with eToro.
Alternatives to think about
If you want to trade stocks and cryptocurrencies in the very same location: Robinhood provides trading in stocks and options, including fractional shares. In addition, it provides 7 different cryptocurrencies and charges no deal charges.