I’ve been using etoro for several years now and i have to say since my last etoro evaluation video the platform itself has changed a hell of a lot i thought what much better chance with the brand-new year to offer a new review on etoro talk about the good points the bad points and the things that etoro frantically requires to improve on if it is undoubtedly to compete with the likes of robin hood when it opens stock trading in the us so if you are new to investing or are simply looking for a 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 useful you carefully tap that like button to assist me out with the youtube gods and without more 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 used them for a number of years however i do feel there is lots of locations that etor desperately needs to enhance on if it is certainly to complete and i’ll be quite extreme in criticizing them in this video i feel like it’s just fair as someone who does utilize etoro on a day-to-day basis to offer the honest and extreme truth on the unfavorable side as well as the favorable side nevertheless overall i do have to state i am excessively happy with them and if you are looking for a second brokerage account or our new investor i would just state dive in the minimums are quite low give it a try and see if it fits your needs and if you do so via 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 engage with other investors directly even if you do open the account realize it’s not for you that chatroom is readily available for you just follow the steps down on the pinned comments 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 introduce stock trading in the us which i feel will be the biggest game changer for this business i have to state myself as someone who has operated in financing for over 15 years etoro are setting about it properly they are managed in various jurisdictions and they are expanding at the ideal speed making certain all the eyes are dotted all the t’s are crossed prior to 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 stated u.s stock trading is coming soon nevertheless the truth that they are taking their time over in
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the us before they release stock trading over the last year or two is really a good sign for me due to the fact that they’re making sure they don’t have a scenario where they leave themselves open to claims or they ruin with policy it seems every second week robin hood has some court case or some huge complaint they have to deal with we have crypto brokers like binance over in the uk dealing with major difficulty with the regulation and the fca there it seems that etoro are taking the best actions initially prior to they release 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 contemporary brokerage with an app unlike the old traditional saxo bank and interactive brokers a contemporary commission complimentary platform more on that later going the ideal actions making certain that all the eyes are dotted or the t’s are crossed before they open in any area they are actually operating in this reveals me that etoro is aiming to stay for the long term and they have clear objectives of growing to be among the most significant brokerages on the planet now the minimum quantity required to open an account does vary 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 really ten dollars and a lot of other countries it’s only fifty dollars so you can proceed examine 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 earn money so how the hell do they do that well the first obvious charge is if you take money out of your account there’s a 5 bucks cost however to be sincere that probably gets wrapped up in transaction charges and he toro probably doesn’t see that much of it the way they make their money is on something called a spread if you go onto the majority of brokers these days 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 difference in between typically it’s just a very little cost and that is called the spread that is the fee that etoro will potentially keep 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 slightly higher cost and the most convenient method of describing this is if you bought say apple in this example on screen now and then you immediately 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 how much it cost you to open that trade or you can even really see the dollar and go cost of how much it approximately cost you to open said trade however after using this platform for a long period of time when you close the trade also there is a small distinction and what happens here is etoro tends to determine 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 in fact do close a trade rather a great deal of the time the charge that i get charged is a lot less than the preliminary fee that i had for opening the trade itself but this is the regular basic structure nowadays for a great deal of brokers that offer 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 a few of the other more advanced platforms and you will get charged a fixed cost per trade but for me personally i believe for newer financiers especially this is a much cheaper way of doing things now what does etoro have to use well they use stocks etfs cryptocurrency cfds more on that in simply a second copy trading and lots of many more assets like products and foreign exchange or currencies however having a platform that permits you to trade multiple sectors is absolutely beneficial for example you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is various aspects readily available with this platform and i feel in the modern world we reside in currency commodities things of the sort are certainly more needed in brokerage homes specifically for the new investor nevertheless i did discuss cfds though which is a contract for distinction these are generally agreements that brokerage or other institutions can provide a client to purchase a company usually it’s a method of having a lot more leverage without actually owning any of the stock you are earning an agreement with said institution now cfds are actually not readily available to people in the us but they are available to people over in europe and in the uk but i have to state offered the scariness of leverage and more than 60
of individuals trading cfds lose cash i simply completely stay away from cfds particularly if you are a newer or intermediate investor and on that also simply keep away from utilize it’s not really good for your portfolio now before we proceed to the two most popular things with etoro and things that people tend to enjoy 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 believe it’s one of their most significant goals 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 adding them at a relatively slow rate they do not wish to add every cent stock under the sun that nobody’s actually trading like i said they make their cash on the spread so the more people 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 just adding stocks that they feel that an advantageous and b well less dangerous i really see this as a little a positive for brand-new investors although for somebody like myself who’s had a lot more
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experience it is rather annoying that a few of the stocks that i do wish to trade or at least take a look at and not on the platform now that stated i have actually talked 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 relevant but i’m sure if you are a torah user and enjoying this it can be annoying that possibly one out of 10 stocks is really not available on the platform so let’s hope etoro enjoys this video and it alters extremely soon now the two most popular things on etoro is the popular investing and the social platform program
Just available in 43 states
All U.S. homeowners can register for a virtual trading account. There are only 43 states (along with Washington D.C. and the Northern Mariana Islands) where you can use genuine cash to buy and offer cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York City, Nevada, and Tennessee clients currently can not trade with eToro. The company aims to have 50-state availability ultimately. Until then, some traders will need to look somewhere else.
Alternatives to consider
If you wish to trade stocks and cryptocurrencies in the very same location: Robinhood offers trading in stocks and options, consisting of fractional shares. In addition, it offers 7 various cryptocurrencies and charges no transaction costs.