so i’ve been using etoro for several years now…Coinexchange Io Vs Etoro… and i have to state since my last etoro evaluation video the platform itself has actually changed a hell of a lot i thought what better chance with the brand-new year to provide a brand-new review on etoro discuss the good points the bad points and the things that etoro desperately requires to improve on if it is indeed to compete with the similarity robin hood when it opens stock trading in the us so if you are brand-new to investing or are just trying to find a brand-new brokerage account and etoro is a choice then this video is for you all i ask in return is if you discover this video helpful you carefully tap that like button to assist me out with the youtube gods and without further ado let’s proceed with the video so right off the bat i want to clarify etoro is not the sole brokerage account i utilize i do have several accounts of them and i have actually utilized them for numerous years however i do feel there is numerous areas that etor desperately needs to improve on if it is certainly to complete and i’ll be quite extreme in slamming them in this video i seem like it’s only fair as someone who does utilize etoro daily to provide the honest and severe fact on the negative side as well as the positive side nevertheless general i do need to state i am extremely delighted with them and if you are searching for a 2nd brokerage account or our brand-new investor i would just state jump in the minimums are rather low provide it a whirl and see if it fits your needs and if you do so by means of the affiliate link down on the pinned
remark and follow the steps there you do actually get life time access to our lwt etoro discord so you can engage with other investors straight even if you do open the account understand 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 will launch stock trading in the us which i feel will be the most significant video game changer for this business i need to state myself as someone who has worked in finance for over 15 years etoro are setting about it properly they are managed in various jurisdictions and they are expanding at the best rate ensuring 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 regulated in australia and of course they are on the finra website over in the us as i said u.s stock trading is coming very soon however 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 in fact a good sign for me because they’re making certain they do not have a situation where they leave themselves open to lawsuits 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 serious trouble with the fca and the policy there it seems that etoro are taking the best steps first prior to they release making sure that the clients are in the safest possible position and they don’t leave themselves open i need to state this is a terrific sign for a contemporary brokerage with an app unlike the old standard saxo bank and interactive brokers a modern day commission free platform more on that later going the best steps ensuring that all the eyes are dotted or the t’s are crossed prior to they open in any location they are really operating in this shows me that etoro is seeking to stay for the long term and they have clear objectives of growing to be among the biggest brokerages worldwide 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 ten dollars and a lot of other nations it’s only fifty dollars so you can proceed inspect this link it will remain in the description and see just how much it costs to open an account with etoro in your jurisdiction now like i said etoro is a commission complimentary brokerage however obviously brokers want to earn money so how the hell do they do that well the very first apparent charge is if you take money out of your account there’s a 5 bucks fee but to be truthful that probably gets involved deal costs 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 a lot of brokers these days unless you’re getting charged a flat rate you will see that when you buy a stock and when you sell a stock there’s a little difference in between normally it’s simply a really small cost and that is called the spread that is the charge that etoro will potentially continue this trade that’s how they earn money since they are not charging you a commission to open the trade they’re just opening the trade at a slightly higher cost and the simplest method of describing this is if you purchased state apple in this example on screen now and then you instantly put it in your portfolio you will see a slight 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 actually see the dollar and go cost of how much it roughly cost you to open stated trade however after using this platform for a long period of time when you close the trade also there is a minor difference and what happens here is etoro tends to compute the difference and that is how much they’ve made i have actually tracked this for a long time and seen that
when i actually do close a trade quite a lot of the time the cost 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 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 some of the other more advanced platforms and you will get charged a fixed fee per trade but for me personally i believe for more recent investors especially this is a much cheaper method of doing things now what does etoro have to use well they provide stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and many much more possessions like products and foreign exchange or currencies but having a platform that permits you to trade multiple sectors is absolutely advantageous for instance you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is several aspects available with this platform and i feel in the contemporary world we reside in currency commodities things of the sort are definitely more required in brokerage houses particularly for the brand-new financier nevertheless i did discuss cfds though which is a contract for difference these are generally agreements that brokerage or other organizations can use a customer to purchase a company usually it’s a method of having a lot more leverage without in fact owning any of the stock you are earning a contract with said institution now cfds are really not readily available to individuals in the us but they are readily available to people over in europe and in the uk however i need to state offered the scariness of take advantage of and more than 60
of individuals trading cfds lose money 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 take advantage of it’s not actually good for your portfolio now prior to we carry on to the two most popular things with etoro and things that individuals tend to love the most we require 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 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 don’t have them all and they are adding them at a fairly sluggish rate they do not wish to add every penny stock under the sun that no one’s in fact trading like i stated they make their money on the spread out so the more individuals trading a stock the more cash they make if they included a low-cap cent stock that only one individual’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 risky i actually see this as a little a positive for brand-new investors although for someone like myself who’s had a lot more
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experience it is rather irritating that some of the stocks that i do want to trade or at least look at and not on the platform now that said i have spoken to etoro on this and they have actually assured 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 make sure if you are a torah user and watching this it can be bothersome that maybe one out of 10 stocks is actually not available on the platform so let’s hope etoro enjoys this video and it alters really soon now the two most popular things on etoro is the popular investing and the social platform program
Just offered in 43 states
All U.S. citizens can sign up for a virtual trading account. There are just 43 states (along with Washington D.C. and the Northern Mariana Islands) where you can use real cash to purchase and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York City, Nevada, and Tennessee consumers presently can not trade with eToro. The company aims to have 50-state accessibility ultimately. Up until then, some traders will have to look somewhere else.
Alternatives to think about
If you want to trade stocks and cryptocurrencies in the exact same place: Robinhood offers trading in stocks and options, consisting of fractional shares. In addition, it provides 7 various cryptocurrencies and charges no transaction fees.