I have actually been using etoro for a number of years now and i have to say since my last etoro evaluation video the platform itself has actually altered a hell of a lot i thought what better chance with the new year to offer a brand-new review on etoro talk about the excellent 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 just 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 helpful you gently tap that like button to assist 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 use i do have several accounts of them and i have utilized them for a number of years however i do feel there is numerous locations that etor desperately requires to improve on if it is undoubtedly to compete and i’ll be quite harsh in criticizing them in this video i feel like it’s only fair as somebody who does use etoro on an everyday basis to give the truthful and harsh fact on the unfavorable side as well as the favorable side nevertheless overall i do have to say i am excessively pleased with them and if you are looking for a 2nd brokerage account or our brand-new investor i would just say dive 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 really get life time access to our lwt etoro discord so you can interact with other investors directly even if you do open the account recognize it’s not for you that chat room is easily available 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 launch 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 operated in financing for over 15 years etoro are setting about it the right way they are regulated in various jurisdictions and they are broadening at the right rate ensuring all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for example they are controlled with the fca over in the uk sysek over in cyprus they’re controlled in australia and obviously they are on the finra site over in the us as i stated u.s stock trading is coming very soon nevertheless the reality that they are taking their time over in
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the us prior to they launch stock trading over the last year or so is in fact an excellent sign for me due to the fact that they’re making sure they don’t have a circumstance where they leave themselves open to claims or they ruin with regulation it seems every second week robin hood has some court case or some huge problem they need to deal with we have crypto brokers like binance over in the uk dealing with serious problem with the policy and the fca there it seems that etoro are taking the right steps initially before they release ensuring that the customers are in the most safe possible position and they do not leave themselves open i need to state this is a great sign for a modern day brokerage with an app unlike the old conventional saxo bank and interactive brokers a contemporary commission complimentary platform more on that later going the best actions making sure that all the eyes are dotted or the t’s are crossed prior to they open in any area they are actually working in this shows me that etoro is looking to remain for the long term and they have clear objectives of growing to be one of the biggest brokerages in the world now the minimum amount needed to open an account does differ on where you lie 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 nations it’s only fifty dollars so you can go ahead inspect 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 stated etoro is a commission totally free brokerage however of course brokers wish to generate income so how the hell do they do that well the first apparent cost is if you take cash out of your account there’s a 5 bucks cost however to be honest that most likely gets involved deal fees and he toro most likely does not see that much of it the way 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 generally it’s simply a really small cost which is called the spread that is the fee that etoro will potentially keep this trade that’s how they generate income since they are not charging you a commission to open the trade they’re simply opening the trade at a somewhat higher price and the simplest method of describing this is if you bought state apple in this example on screen from time to time you immediately put it in your portfolio you will see a minor loss on this trade week one day one minute one 2nd one which portion loss is how much it cost you to open that trade or you can even really see the dollar and go charge of how much it roughly cost you to open stated trade nevertheless after utilizing this platform for a long time when you close the trade as well there is a small difference and what occurs here is etoro tends to determine the difference which is how much they have actually made i have actually 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 fee that i get charged is a lot less than the preliminary fee that i had for opening the trade itself but this is the normal standard structure nowadays for a lot of brokers that provide commission free trades if you don’t want to pay a spread you can go and open an interactive brokers account a saxo bank account or some of the other more advanced platforms and you will get charged a repaired cost per trade but for me personally i think for more recent financiers especially this is a much cheaper way of doing things now what does etoro have to offer well they provide stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and lots of much more assets like commodities and forex or currencies however having a platform that permits you to trade several sectors is absolutely 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 several elements available with this platform and i feel in the contemporary world we reside in currency commodities things of the sort are absolutely more needed in brokerage homes specifically for the new investor nevertheless i did point out cfds though which is a contract for difference these are basically contracts that brokerage or other organizations can provide a client to buy a company generally it’s a method of having a lot more take advantage of without really owning any of the stock you are making a contract with stated organization now cfds are in fact not offered to individuals in the us however they are available to individuals over in europe and in the uk however i have to state offered the scariness of take advantage of and more than 60
of people trading cfds lose cash i simply completely stay away from cfds specifically if you are a newer or intermediate investor and on that too simply stay away from utilize it’s not truly helpful for your portfolio now before we carry on to the two most popular things with etoro and things that individuals tend to love the most we need to discuss the stocks etfs and products now this is the greatest problem etoro has in my opinion and they are looking at altering this really soon in fact i believe it is among their greatest objectives for 2022. now although etoro tends to have most the stocks that you wish to trade or etfs they do not have them all and they are including them at a fairly sluggish rate they do not want to include every penny stock under the sun that nobody’s in fact trading like i stated they make their money on the spread out so the more people trading a stock the more cash they make if they added in a low-cap penny stock that only one person’s trading every single day they’re not going to make that much money so they are just adding stocks that they feel that a helpful and b well less dangerous i actually see this as a little bit of a positive for new investors 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 stated i have actually talked to etoro on this and they have actually promised 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 however i make sure if you are a torah user and watching this it can be frustrating that maybe one out of 10 stocks is in fact not readily available on the platform so let’s hope etoro watches 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 offered in 43 states
All U.S. citizens can sign up for a virtual trading account. However, there are just 43 states (along with Washington D.C. and the Northern Mariana Islands) where you can use real cash 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 eventually. Till then, some traders will have to look somewhere else.
Alternatives to think about
If you want to trade stocks and cryptocurrencies in the very same location: Robinhood provides trading in stocks and choices, including fractional shares. In addition, it offers 7 various cryptocurrencies and charges no deal costs.