I’ve been using etoro for numerous years now and i have to say because my last etoro review video the platform itself has changed a hell of a lot i believed what much better chance with the brand-new year to give a new evaluation on etoro talk about the great points the bad points and the things that etoro desperately requires to improve on if it is indeed to contend 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 discover this video helpful you carefully tap that like button to help me out with the youtube gods and without additional 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 numerous accounts of them and i have actually utilized them for numerous years nevertheless i do feel there is many areas that etor desperately requires to improve on if it is undoubtedly to compete and i’ll be rather severe in slamming them in this video i feel like it’s only fair as someone who does use etoro on an everyday basis to provide the sincere and extreme fact on the unfavorable side as well as the positive side however overall i do have to state i am extremely pleased with them and if you are looking for a second brokerage account or our brand-new financier i would simply say dive in the minimums are rather low provide it a try and see if it fits your requirements and if you do so via 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 connect with other financiers straight even if you do open the account understand it’s not for you that chat room is easily 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 are about to introduce stock trading in the us which i feel will be the most significant game changer for this company i have to say myself as somebody who has worked in financing for over 15 years etoro are setting about it the right way they are regulated in several jurisdictions and they are expanding at the best rate ensuring 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 managed in australia and naturally they are on the finra site over in the us as i said u.s stock trading is coming soon however the reality that they are taking their time over in
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the us before they introduce stock trading over the in 2015 or two is in fact a good sign for me due to the fact that they’re ensuring they don’t have a situation where they leave themselves open to suits or they mess up with guideline it appears every second week robin hood has some court case or some big problem they have to deal with we have crypto brokers like binance over in the uk facing serious difficulty with the policy and the fca there it appears that etoro are taking the best actions first before they launch ensuring that the customers are in the most safe possible position and they don’t leave themselves open i have to say 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 totally free platform more on that later going the right steps making certain that all the eyes are dotted or the t’s are crossed before they open in any location they are really working in this shows me that etoro is seeking to remain for the long term and they have clear goals of growing to be one of the biggest brokerages on the planet now the minimum quantity needed to open an account does differ 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 just fifty dollars so you can proceed inspect 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 said etoro is a commission free brokerage but of course brokers wish to make money so how the hell do they do that well the first obvious fee is if you take money out of your account there’s a 5 dollars cost but to be sincere that most likely gets wrapped up in deal costs 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 a lot of brokers these days 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 distinction in between typically it’s just a very small cost which is called the spread that is the charge that etoro will potentially keep on this trade that’s how they earn money due to the fact that 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 describing this is if you bought state apple in this example on screen once in a while you instantly put it in your portfolio you will see a slight loss on this trade week one day one minute one 2nd one which portion loss is just how much it cost you to open that trade or you can even actually see the dollar and go cost of how much it approximately cost you to open stated trade nevertheless after utilizing this platform for a long period of time when you close the trade too there is a slight distinction and what takes place here is etoro tends to calculate the difference and that is just how much they have actually made i have actually tracked this for a very long time and seen that
when i actually do close a trade quite a lot of the time the fee that i get charged is a lot less than the initial fee that i had for opening the trade itself but this is the regular basic structure these days for a great deal of brokers that offer commission open markets if you do not wish to pay a spread you can go and open an interactive brokers account a saxo checking account or some of the other more advanced platforms and you will get charged a fixed fee per trade but for me personally i believe for newer investors particularly this is a much cheaper way of doing things now what does etoro need to provide well they offer stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and numerous much more assets like products and foreign exchange or currencies but having a platform that enables you to trade numerous sectors is definitely helpful for instance you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is many different elements offered with this platform and i feel in the contemporary world we reside in currency commodities things of the sort are certainly more required in brokerage homes especially for the brand-new investor however i did mention cfds though which is a contract for distinction these are essentially contracts that brokerage or other institutions can offer a customer to purchase a company normally it’s a way of having a lot more take advantage of without really owning any of the stock you are earning a contract with stated organization now cfds are in fact not readily available to people in the us but they are offered to people over in europe and in the uk however i need to state given the scariness of leverage and more than 60
of individuals trading cfds lose money i simply entirely stay away from cfds specifically if you are a more recent or intermediate financier and on that too just stay away from take advantage of it’s not really helpful for your portfolio now before we move on to the two most popular things with etoro and things that people tend to enjoy the most we require to talk about the stocks etfs and commodities now this is the biggest problem etoro has in my opinion and they are looking at altering this really 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 want 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 penny stock under the sun that no one’s really trading like i stated 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 cent 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 adding stocks that they feel that an useful and b well less risky i really see this as a little bit of a positive for brand-new investors although for someone like myself who’s had a lot more
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experience it is quite irritating 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 said i have spoken with etoro on this and they have promised 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 may not even be that appropriate but i’m sure if you are a torah user and seeing this it can be irritating that possibly one out of 10 stocks is actually not offered on the platform so let’s hope etoro views this video and it alters very very soon now the two most popular things on etoro is the social platform and the popular investing program
Just available in 43 states
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 very same place: Robinhood offers trading in stocks and options, including fractional shares. In addition, it provides 7 different cryptocurrencies and charges no deal costs.