so i have actually been using etoro for several years now…Etoro Countries… and i need to say given that my last etoro evaluation video the platform itself has altered a hell of a lot i believed what much better chance with the new year to offer a new review on etoro speak about the good points 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 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 useful you gently tap that like button to assist me out with the youtube gods and without additional ado let’s proceed with the video so right off the bat i wish to clarify etoro is not the sole brokerage account i utilize i do have numerous accounts of them and i have used them for numerous years nevertheless i do feel there is many areas that etor frantically requires to improve on if it is indeed to compete and i’ll be rather severe in criticizing them in this video i feel like it’s just fair as someone who does use etoro daily to provide the harsh and honest reality on the negative side in addition to the positive side nevertheless general i do need to say i am extremely happy with them and if you are trying to find a second brokerage account or our brand-new financier i would just say jump in the minimums are quite low give it a try and see if it fits your needs and if you do so via the affiliate link down on the pinned
comment and follow the steps there you do in fact get life time access to our lwt etoro discord so you can communicate with other investors straight 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 remarks 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 will introduce stock trading in the us which i feel will be the most significant video game changer for this company i have to state myself as someone who has operated in finance for over 15 years etoro are going about it the right way they are regulated in various jurisdictions and they are broadening at the ideal pace making certain all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for instance they are regulated with the fca over in the uk sysek over in cyprus they’re managed in australia and of course they are on the finra site over in the us as i said u.s stock trading is coming very soon nevertheless the truth 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 scenario where they leave themselves open to claims or they mess up with guideline it seems every second week robin hood has some court case or some huge complaint they have to handle we have crypto brokers like binance over in the uk dealing with serious trouble with the regulation and the fca there it appears that etoro are taking the best steps initially before they release making certain that the clients remain in the best possible position and they don’t leave themselves open i have to state this is a great sign for a modern day brokerage with an app unlike the old standard saxo bank and interactive brokers a contemporary commission free platform more on that later going the ideal actions making sure that all the eyes are dotted or the t’s are crossed prior to they open in any location they are actually operating in this shows me that etoro is seeking to remain for the long term and they have clear aims of growing to be among the biggest brokerages in the world now the minimum quantity needed to open an account does differ on where you lie on screen now you can see the minimums available but if you are from the us or the uk
the minimum to open an account is in fact 10 dollars and a lot of other countries it’s only fifty dollars so you can go on examine this link it will be in the description and see just how much it costs to open an account with etoro in your jurisdiction now like i said etoro is a commission free brokerage but obviously brokers wish to make 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 dollars cost however to be truthful that most likely gets wrapped up in deal charges and he toro most likely does not see that much of it the way they make their cash is on something called a spread if you go onto most brokers nowadays 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 difference in between usually it’s just a really little fee and that is called the spread that is the charge that etoro will potentially keep this trade that’s how they make money since they are not charging you a commission to open the trade they’re just opening the trade at a somewhat higher price and the simplest way of describing this is if you bought state apple in this example on screen now and then you quickly put it in your portfolio you will see a slight loss on this trade week one day one minute one 2nd one and that percentage loss is how much it cost you to open that trade or you can even really see the dollar and go cost of just how much it roughly cost you to open said trade however after using this platform for a long time when you close the trade too there is a minor distinction and what happens here is etoro tends to calculate the difference and that is just how much they’ve made i have tracked this for a long period of time and seen that
when i actually do close a trade quite a great deal of the time the charge that i get charged is a lot less than the initial cost that i had for opening the trade itself but this is the normal basic structure these days for a lot of brokers that provide commission free trades if you do not 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 charge per trade but for me personally i believe for more recent financiers specifically this is a more affordable way of doing things now what does etoro need to offer well they offer stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and lots of many more properties like commodities and forex or currencies however having a platform that permits you to trade several sectors is absolutely beneficial for example you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is various aspects offered with this platform and i feel in the contemporary world we live in currency products things of the sort are absolutely more needed in brokerage houses especially for the new investor however i did discuss cfds though which is a contract for difference these are essentially contracts that brokerage or other institutions can offer a customer to buy a business generally it’s a way of having a lot more take advantage of without really owning any of the stock you are making a contract with said institution now cfds are in fact not offered to people in the us however they are available to individuals over in europe and in the uk but i need to say offered the scariness of leverage and more than 60
of individuals trading cfds lose cash i simply totally keep away from cfds particularly if you are a newer or intermediate financier and on that too simply keep away from take advantage of it’s not truly helpful for your portfolio now prior to we carry on to the two most popular things with etoro and things that people tend to enjoy the most we need 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 very soon in fact i think it is among 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 adding them at a fairly slow rate they do not want to add every penny stock under the sun that nobody’s in fact trading like i said they make their money on the spread out so the more individuals 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 new investors although for someone like myself who’s had a lot more
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experience it is rather annoying that a few of the stocks that i do wish to trade or at least look at and not on the platform now that said i have talked to etoro on this and they have actually 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 might not even be that appropriate but i’m sure if you are a torah user and viewing this it can be annoying that perhaps one out of 10 stocks is really not offered on the platform so let’s hope etoro views this video and it changes very very 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. locals can sign up for a virtual trading account. Nevertheless, there are just 43 states (in addition to Washington D.C. and the Northern Mariana Islands) where you can use genuine cash to buy and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee clients currently can not trade with eToro. The business aims to have 50-state accessibility 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 exact same location: Robinhood provides trading in stocks and choices, consisting of fractional shares. In addition, it provides 7 different cryptocurrencies and charges no transaction fees.