so i have actually been using etoro for several years now…Cqg Vs Etoro… and i need to state since my last etoro review video the platform itself has changed a hell of a lot i thought what much better chance with the brand-new year to give a brand-new review on etoro talk about the good points the bad points and the things that etoro desperately needs to improve on if it is indeed to take on the similarity robin hood when it opens stock trading in the us so if you are new to investing or are simply trying to find 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 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 wish to clarify etoro is not the sole brokerage account i utilize i do have several accounts of them and i have utilized them for several years nevertheless i do feel there is many locations that etor frantically requires to improve on if it is indeed to compete and i’ll be rather severe in slamming them in this video i seem like it’s only fair as someone who does utilize etoro every day to offer the severe and truthful fact on the negative side in addition to the positive side nevertheless total i do have to say i am excessively pleased with them and if you are looking for a second brokerage account or our new financier i would just state jump in the minimums are quite low provide it a whirl and see if it fits your requirements and if you do so via the affiliate link down on the pinned
comment and follow the actions there you do in fact get lifetime access to our lwt etoro discord so you can interact with other financiers straight even if you do open the account realize it’s not for you that chatroom is readily offered for you simply follow the steps down on the pinned remarks let’s start about who etoro is and what they’re about 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 greatest 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 tackling it the proper way they are controlled in various jurisdictions and they are broadening at the ideal rate making sure 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 very soon however the fact that they are taking their time over in
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the us before they release stock trading over the last year approximately is actually a great sign for me due to the fact that they’re making sure they do not have a circumstance where they leave themselves open to claims or they mess up with policy it seems every second week robin hood has some lawsuit or some big grievance they have to deal with we have crypto brokers like binance over in the uk facing severe problem with the regulation and the fca there it appears that etoro are taking the best steps first before they release making sure that the customers remain in the best possible position and they don’t leave themselves open i need to state this is a great sign for a modern brokerage with an app unlike the old standard saxo bank and interactive brokers a modern commission free platform more on that later going the ideal steps making certain that all the eyes are dotted or the t’s are crossed before they open in any location they are actually operating in this reveals me that etoro is wanting to stay for the long term and they have clear goals of growing to be among the most significant brokerages on the planet now the minimum amount needed to open an account does differ on where you lie on screen now you can see the minimums available however 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 just fifty dollars so you can go on inspect this link it will be 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 but naturally 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 five bucks fee but to be sincere that probably gets wrapped up in deal fees and he toro most likely doesn’t see that much of it the method they make their money is on something called a spread if you go onto many brokers nowadays unless you’re getting charged a flat rate you will see that when you purchase a stock and when you offer a stock there’s a little difference in between normally it’s simply a very small fee which is called the spread that is the charge that etoro will possibly continue this trade that’s how they earn money because they are not charging you a commission to open the trade they’re just opening the trade at a slightly greater cost and the easiest way of describing this is if you purchased say apple in this example on screen once in a while you immediately put it in your portfolio you will see a minor loss on this trade week one day one minute one 2nd one and that portion loss is just how much it cost you to open that trade or you can even in fact go and see the dollar charge of just how much it roughly cost you to open said trade nevertheless after using this platform for a long time when you close the trade as well there is a small distinction and what happens here is etoro tends to determine the distinction and that is just how much they’ve made i have tracked this for a very long time and seen that
when i really do close a trade rather a great deal of the time the charge that i get charged is a lot less than the preliminary cost that i had for opening the trade itself however this is the regular standard structure nowadays for a lot of brokers that provide commission free trades if you do not wish to pay a spread you can go and open an interactive brokers account a saxo checking 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 believe for newer financiers particularly this is a more affordable method of doing things now what does etoro have to provide well they provide stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and numerous much more assets like products and forex or currencies but having a platform that enables you to trade several sectors is absolutely advantageous for example you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is many different 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 required in brokerage homes especially for the new investor nevertheless i did mention cfds though which is a contract for difference these are basically agreements that brokerage or other organizations can use a customer to buy a company normally it’s a method of having a lot more take advantage of without really 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 offered to individuals over in europe and in the uk however i need to state provided the scariness of leverage and more than 60
of individuals trading cfds lose cash i simply totally keep away from cfds particularly if you are a newer or intermediate investor and on that also just keep away from utilize it’s not truly helpful for your portfolio now prior to we carry on to the two most popular things with etoro and things that people tend to love the most we require to speak about the stocks etfs and products now this is the greatest problem etoro has in my viewpoint and they are taking a look at changing this really soon in fact i believe 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 fairly sluggish rate they do not wish to add every penny stock under the sun that nobody’s in fact trading like i said they make their cash on the spread out so the more individuals trading a stock the more cash 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 including stocks that they feel that a beneficial and b well less dangerous i actually see this as a bit of a favorable for new investors although for someone like myself who’s had a lot more
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experience it is quite frustrating that a few of the stocks that i do want to trade or a minimum of take a look at and not on the platform now that said i have talked to etoro on this and they have actually assured 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 appropriate however i make sure if you are a torah user and seeing this it can be frustrating that possibly one out of 10 stocks is in fact not offered on the platform so let’s hope etoro sees this video and it alters extremely 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. residents can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee consumers currently can not trade with eToro.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the exact same place: Robinhood provides trading in stocks and options, including fractional shares. In addition, it offers 7 different cryptocurrencies and charges no transaction fees.