so i’ve been utilizing etoro for a number of years now…Etoro Alexander James Thomas… and i have to state given that my last etoro review video the platform itself has actually changed a hell of a lot i believed what much better chance with the new year to give a brand-new review on etoro talk about the assets the bad points and the things that etoro desperately needs to improve on if it is undoubtedly to compete with the similarity robin hood when it opens stock trading in the us so if you are new to investing or are just searching 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 discover this video useful you gently tap that like button to help 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 a number of accounts of them and i have actually utilized them for several years however i do feel there is many locations that etor desperately needs to improve on if it is certainly to complete and i’ll be quite harsh in slamming them in this video i seem like it’s only fair as someone who does use etoro daily to provide the truthful and severe truth on the negative side in addition to the positive side nevertheless total i do need to state i am excessively happy with them and if you are searching for a 2nd brokerage account or our new financier i would just say jump in the minimums are quite low provide it a try and see if it fits your requirements and if you do so by means of 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 communicate with other financiers straight even if you do open the account realize it’s not for you that chat room is easily 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 outright mega giant of a broker over here in europe and they will introduce stock trading in the us which i feel will be the biggest video game changer for this business i need to state myself as someone who has operated in finance for over 15 years etoro are setting about it the right way they are regulated in many different jurisdictions and they are broadening at the right pace making certain 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 managed in australia and obviously 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 release stock trading over the in 2015 or so is actually an excellent sign for me due to the fact that they’re making certain they do not have a scenario where they leave themselves open to claims or they mess up with regulation it seems every second week robin hood has some lawsuit or some huge grievance they have to deal with we have crypto brokers like binance over in the uk dealing with major difficulty with the fca and the policy there it seems that etoro are taking the best actions first before they release ensuring that the clients are 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 day brokerage with an app unlike the old standard saxo bank and interactive brokers a modern day commission complimentary 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 actually working in this reveals me that etoro is looking to remain for the long term and they have clear objectives of growing to be one of the most significant brokerages on the planet now the minimum amount needed 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 actually ten dollars and a lot of other countries it’s only fifty dollars so you can proceed check 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 stated etoro is a commission totally free brokerage but naturally brokers want to earn money so how the hell do they do that well the very first obvious fee is if you take money out of your account there’s a five bucks fee however to be honest that most likely gets involved transaction fees and he toro probably 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 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 normally it’s just a very little 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 simply opening the trade at a somewhat higher rate and the simplest way of describing this is if you bought say apple in this example on screen once in a while you immediately put it in your portfolio you will see a small 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 in fact see the dollar and go cost of how much it approximately cost you to open said trade however after utilizing this platform for a very long time when you close the trade too there is a slight distinction and what takes place here is etoro tends to compute the distinction which is how much they have actually made i have actually tracked this for a long time and seen that
when i really do close a trade quite a great deal of the time the charge that i get charged is a lot less than the initial fee that i had for opening the trade itself however this is the regular standard structure these days 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 some of the other advanced platforms and you will get charged a fixed cost per trade but for me personally i believe for newer investors especially this is a more affordable way of doing things now what does etoro have to use well they provide stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and lots of a lot more properties like products and forex or currencies however having a platform that allows you to trade numerous 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 several aspects available with this platform and i feel in the contemporary world we live in currency products things of the sort are certainly more required in brokerage houses specifically for the new financier nevertheless i did mention cfds though which is a contract for difference these are generally agreements that brokerage or other organizations can use a customer to buy a company generally it’s a way of having a lot more take advantage of without actually owning any of the stock you are making a contract with said organization now cfds are actually not offered to individuals in the us however they are offered to people over in europe and in the uk but i have to state offered the scariness of utilize and more than 60
of individuals trading cfds lose cash i just totally stay away from cfds especially if you are a more recent or intermediate financier and on that as well just stay away from leverage it’s not really good for your portfolio now prior to we proceed to the two most popular things with etoro and things that individuals tend to enjoy the most we require to speak about the stocks etfs and commodities now this is the most significant issue etoro has in my viewpoint and they are taking a look at changing this extremely very 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 don’t have them all and they are including them at a reasonably slow rate they do not want to add every penny stock under the sun that nobody’s actually 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 each and every single day they’re not going to make that much money so they are only including stocks that they feel that an useful and b well less dangerous i in fact see this as a little bit of a favorable for new financiers although for someone like myself who’s had a lot more
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experience it is quite frustrating that some 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 actually guaranteed 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 may not even be that pertinent but i’m sure if you are a torah user and enjoying this it can be frustrating that possibly one out of 10 stocks is actually not offered on the platform so let’s hope etoro watches this video and it changes extremely soon now the two most popular things on etoro is the social platform and the popular investing program
Only readily available in 43 states
All U.S. homeowners can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee clients presently can not trade with eToro.
Alternatives to consider
If you wish to trade stocks and cryptocurrencies in the same location: Robinhood uses trading in stocks and choices, including fractional shares. In addition, it provides 7 different cryptocurrencies and charges no transaction costs.