I have actually been using etoro for numerous years now and i have to state since my last etoro evaluation video the platform itself has actually changed a hell of a lot i believed what better opportunity with the new year to give a brand-new evaluation on etoro talk about the good points the bad points and the things that etoro desperately requires to enhance on if it is certainly 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 brand-new brokerage account and etoro is an option then this video is for you all i ask in return is if you find this video beneficial you gently 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 use i do have a number of accounts of them and i have actually used them for several years however i do feel there is lots of locations that etor desperately needs to enhance on if it is undoubtedly to contend and i’ll be quite severe in slamming them in this video i feel like it’s only reasonable as somebody who does use etoro on an everyday basis to offer the extreme and honest reality on the negative side as well as the positive side nevertheless overall i do have to state i am overly delighted with them and if you are looking for a second brokerage account or our brand-new investor i would simply state jump in the minimums are quite low give it a whirl and see if it fits your needs and if you do so via 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 connect with other financiers straight even if you do open the account realize it’s not for you that chat room is easily available for you simply 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 outright 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 most significant video game changer for this business i have to say myself as somebody who has actually worked in finance for over 15 years etoro are going about it the right way they are regulated in several jurisdictions and they are expanding 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 managed with the fca over in the uk sysek over in cyprus they’re regulated in australia and obviously they are on the finra website over in the us as i said u.s stock trading is coming soon nevertheless the truth that they are taking their time over in
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the us prior to they launch stock trading over the in 2015 or so is really a good sign for me because they’re ensuring they do not have a situation where they leave themselves open to claims or they ruin with policy it seems every second week robin hood has some lawsuit or some huge complaint they need to deal with 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 actions initially before they introduce ensuring that the clients remain in the best possible position and they don’t leave themselves open i need to state this is an excellent sign for a modern day brokerage with an app unlike the old conventional saxo bank and interactive brokers a contemporary commission free platform more on that later going the best actions making certain that all the eyes are dotted or the t’s are crossed before they open in any area they are in fact working in this shows me that etoro is wanting to stay for the long term and they have clear aims of growing to be one of the greatest brokerages in the world now the minimum quantity required to open an account does differ on where you are located on screen now you can see the minimums readily available however if you are from the us or the uk
the minimum to open an account is in fact ten dollars and a lot of other nations it’s just fifty dollars so you can go on 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 stated etoro is a commission free brokerage but obviously brokers want to earn money so how the hell do they do that well the very first obvious cost is if you take cash out of your account there’s a five dollars cost however to be honest that probably gets wrapped up in deal costs 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 the majority of brokers these days unless you’re getting charged a flat rate you will see that when you purchase a stock and when you sell a stock there’s a little difference in between normally it’s just a very small charge and that is called the spread that is the charge that etoro will possibly keep this trade that’s how they earn 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 way 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 small 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 actually drop in the dollar charge of how much it approximately cost you to open said trade nevertheless after using this platform for a long period of time when you close the trade as well there is a slight difference and what happens here is etoro tends to compute the difference and that is just how much they have actually made i have tracked this for a very long time and seen that
when i in fact do close a trade rather a lot of the time the charge that i get charged is a lot less than the preliminary charge that i had for opening the trade itself but this is the normal basic structure nowadays 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 a few of the other more advanced platforms and you will get charged a fixed charge per trade but for me personally i believe for more recent financiers especially this is a more affordable method of doing things now what does etoro need to offer well they offer stocks etfs cryptocurrency cfds more on that in simply a second copy trading and many much more assets like commodities and foreign exchange or currencies however having a platform that enables you to trade numerous sectors is certainly helpful for example you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is several elements available with this platform and i feel in the modern world we live in currency products things of the sort are definitely more needed in brokerage houses especially for the new financier however i did discuss cfds though which is a contract for difference these are basically agreements that brokerage or other institutions can provide a customer to purchase a company typically it’s a way of having a lot more take advantage of without in fact owning any of the stock you are making a contract with stated organization now cfds are in fact not available to people in the us however they are offered to people over in europe and in the uk however i have to say provided the scariness of leverage and more than 60
of people trading cfds lose money i simply totally stay away from cfds particularly if you are a more recent or intermediate financier and on that too just keep away from leverage it’s not truly great for your portfolio now before we move on to the two most popular things with etoro and things that individuals tend to love the most we need to talk about the stocks etfs and commodities now this is the biggest problem etoro has in my viewpoint and they are looking at changing this very very soon in fact i believe it’s one of their greatest goals 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 including them at a reasonably slow rate they do not want to include every cent stock under the sun that no one’s actually trading like i said they make their money on the spread out so the more people trading a stock the more money they make if they included a low-cap penny stock that only one person’s trading every day they’re not going to make that much cash 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 bit of a favorable for new financiers although for somebody like myself who’s had a lot more
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experience it is quite bothersome 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 actually spoken to etoro on this and they have 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 might not even be that pertinent but i make certain if you are a torah user and seeing this it can be frustrating that possibly one out of 10 stocks is really not readily available on the platform so let’s hope etoro enjoys this video and it alters extremely very soon now the two most popular things on etoro is the social platform and the popular investing program
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All U.S. locals 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 same place: Robinhood provides trading in stocks and choices, consisting of fractional shares. In addition, it provides 7 different cryptocurrencies and charges no transaction costs.