so i have actually been using etoro for a number of years now…Etoro Api Python Bot… and i have to state because my last etoro evaluation video the platform itself has changed a hell of a lot i thought what much better opportunity with the brand-new year to provide a new evaluation on etoro discuss the assets the bad points and the important things that etoro frantically needs to improve on if it is indeed 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 just looking for a 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 useful you gently tap that like button to help me out with the youtube gods and without more ado let’s get on 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 utilized them for several years however i do feel there is numerous locations that etor desperately requires to improve on if it is undoubtedly to complete and i’ll be rather harsh in slamming them in this video i feel like it’s only reasonable as somebody who does use etoro on a daily basis to offer the extreme and truthful reality on the unfavorable side as well as the positive side nevertheless total i do have to say i am excessively happy with them and if you are searching for a 2nd brokerage account or our brand-new investor i would just say jump in the minimums are rather low give 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
comment and follow the steps there you do actually get life time access to our lwt etoro discord so you can interact with other investors straight even if you do open the account understand it’s not for you that chat room is readily offered 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 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 greatest game changer for this business i have to state myself as somebody who has actually worked in finance for over 15 years etoro are setting about it the proper way they are regulated in various jurisdictions and they are expanding at the best rate ensuring all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for instance they are regulated with the fca over in the uk sysek over in cyprus they’re regulated in australia and naturally they are on the finra website over in the us as i said u.s stock trading is coming very soon nevertheless the fact that they are taking their time over in
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the us prior to they introduce stock trading over the in 2015 approximately is in fact an excellent sign for me due to the fact that they’re making certain they do not have a circumstance where they leave themselves open to lawsuits or they mess up with guideline it appears every second week robin hood has some lawsuit or some big complaint they need to deal with we have crypto brokers like binance over in the uk facing severe problem with the fca and the policy there it seems that etoro are taking the best steps first before they release ensuring that the customers are in the safest possible position and they don’t leave themselves open i have to say this is a fantastic sign for a modern brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern commission complimentary platform more on that later going the best steps making sure that all the eyes are dotted or the t’s are crossed prior to they open in any location they are in fact working in this reveals me that etoro is wanting to stick around for the long term and they have clear goals of growing to be among the greatest brokerages in the world now the minimum quantity required to open an account does vary on where you are located on screen now you can see the minimums readily 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 countries it’s only fifty dollars so you can go ahead check this link it will be in the description and see how much it costs to open an account with etoro in your jurisdiction now like i said etoro is a commission totally free brokerage however obviously brokers wish to make money so how the hell do they do that well the first apparent fee is if you take money out of your account there’s a 5 dollars fee however to be sincere that most likely gets involved transaction 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 a lot of brokers nowadays 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 distinction in between normally it’s just a really little charge which is called the spread that is the charge that etoro will potentially keep on this trade that’s how they make money because they are not charging you a commission to open the trade they’re just opening the trade at a somewhat greater rate and the most convenient method of explaining 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 portion loss is just how much it cost you to open that trade or you can even really see the dollar and go charge of just how much it approximately cost you to open stated trade however after utilizing this platform for a long period of time when you close the trade too there is a small difference and what occurs here is etoro tends to calculate the distinction and that is just how much they have actually made i have 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 initial fee that i had for opening the trade itself however this is the regular basic structure these days for a lot of brokers that offer commission open markets if you don’t wish to pay a spread you can go and open an interactive brokers account a saxo bank account or a few of the other advanced platforms and you will get charged a fixed cost per trade but for me personally i think for more recent investors specifically this is a more affordable 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 lots of many more properties like products and foreign exchange or currencies however having a platform that enables you to trade multiple sectors is definitely advantageous for instance you can short bitcoin and go long silver you might likewise short the japanese yen and go long into gold there is many different elements 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 houses especially for the new financier however i did point out cfds though which is a contract for distinction these are essentially contracts that brokerage or other institutions can provide a client to purchase a company usually it’s a way of having a lot more take advantage of without in fact owning any of the stock you are earning a contract with stated organization now cfds are in fact not offered to individuals in the us but they are offered to people over in europe and in the uk but i have to say offered the scariness of take advantage of and more than 60
of individuals trading cfds lose cash i just entirely stay away from cfds especially if you are a more recent or intermediate investor and on that also just keep away from utilize it’s not really great for your portfolio now prior to we proceed to the two most popular things with etoro and things that people tend to like the most we need to discuss the stocks etfs and commodities now this is the most significant issue etoro has in my opinion and they are looking at altering this extremely very soon in fact i think it’s one of their most significant 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 reasonably sluggish rate they do not want to add every penny stock under the sun that no one’s actually trading like i stated they make their cash on the spread so the more people trading a stock the more cash they make if they included a low-cap cent stock that only one person’s trading every day they’re not going to make that much money so they are just including stocks that they feel that a helpful and b well less dangerous i really see this as a little a favorable for new financiers although for someone like myself who’s had a lot more
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experience it is quite annoying that a few 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 with etoro on this and they have guaranteed 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 might not even be that relevant however i make certain if you are a torah user and seeing this it can be frustrating that maybe one out of 10 stocks is really not offered on the platform so let’s hope etoro sees this video and it alters very very 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. However, there are only 43 states (together with Washington D.C. and the Northern Mariana Islands) where you can utilize genuine money to buy and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee customers presently can not trade with eToro. The company aims to have 50-state availability ultimately. Up until then, some traders will need to look somewhere else.
Alternatives to think about
If you want to trade stocks and cryptocurrencies in the very same place: Robinhood provides trading in stocks and options, including fractional shares. In addition, it provides 7 various cryptocurrencies and charges no transaction charges.