so i’ve been utilizing etoro for a number of years now…Etoro Etoro Rekeningnummer… and i need to state because my last etoro evaluation video the platform itself has changed a hell of a lot i believed what much better chance with the new year to provide a brand-new review on etoro talk about the good points the bad points and the important things that etoro desperately requires to improve on if it is indeed to take on the similarity robin hood when it opens stock trading in the us so if you are brand-new to investing or are simply trying to find 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 advantageous you gently tap that like button to assist me out with the youtube gods and without more ado let’s proceed 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 used them for numerous years nevertheless i do feel there is numerous areas that etor desperately requires to improve on if it is certainly to compete and i’ll be quite harsh in criticizing them in this video i feel like it’s just fair as somebody who does use etoro on a daily basis to give the harsh and sincere truth on the negative side as well as the positive side however general i do have to say i am overly happy with them and if you are trying to find a 2nd brokerage account or our brand-new investor i would simply say jump in the minimums are rather low give it a try and see if it fits your requirements and if you do so via the affiliate link down on the pinned
remark and follow the actions there you do actually get life time access to our lwt etoro discord so you can engage with other financiers straight even if you do open the account understand it’s not for you that chat room is easily available for you simply 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 absolute 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 biggest video game changer for this business i have to say myself as someone who has actually operated in finance for over 15 years etoro are setting about it the right way they are regulated in many different jurisdictions and they are expanding at the right speed ensuring all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for example they are managed with the fca over in the uk sysek over in cyprus they’re regulated in australia and of course 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 prior to they launch stock trading over the in 2015 or two is in fact a great sign for me because they’re making certain they don’t have a situation where they leave themselves open to claims or they mess up with regulation it seems 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 dealing with major trouble with the policy and the fca there it appears that etoro are taking the best steps first prior to they launch ensuring that the customers are in the most safe possible position and they do not leave themselves open i need to say this is a terrific sign for a modern brokerage with an app unlike the old traditional saxo bank and interactive brokers a contemporary commission complimentary platform more on that later going the right steps making sure that all the eyes are dotted or the t’s are crossed prior to they open in any area they are really operating in this shows me that etoro is wanting to stick around for the long term and they have clear aims of growing to be one of the biggest brokerages worldwide now the minimum amount needed to open an account does vary on where you lie on screen now you can see the minimums offered however if you are from the us or the uk
the minimum to open an account is in fact ten dollars and a great deal of other nations it’s only fifty dollars so you can go on examine 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 stated etoro is a commission totally free brokerage but naturally brokers wish to generate income so how the hell do they do that well the first apparent cost is if you take money out of your account there’s a 5 dollars cost but to be truthful that most likely gets involved deal charges and he toro most likely does not 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 nowadays 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 typically it’s just a really small charge and that is called the spread that is the fee that etoro will potentially continue this trade that’s how they make money due to the fact that they are not charging you a commission to open the trade they’re simply opening the trade at a slightly higher price and the most convenient method of describing this is if you bought state apple in this example on screen once in a while you immediately put it in your portfolio you will see a small loss on this trade week one day one minute one second one which portion loss is just 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 stated trade however after utilizing this platform for a long time when you close the trade as well there is a small distinction and what occurs here is etoro tends to calculate the distinction which is how much they have actually made i have actually tracked this for a 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 charge that i had for opening the trade itself but this is the normal standard 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 bank account or some of the other more advanced platforms and you will get charged a fixed charge per trade but for me personally i think for newer financiers especially this is a more affordable way 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 assets like commodities and forex or currencies however having a platform that enables you to trade multiple sectors is certainly beneficial for instance you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is many different aspects offered with this platform and i feel in the modern world we live in currency commodities things of the sort are absolutely more needed in brokerage houses specifically for the new investor nevertheless i did point out cfds though which is a contract for difference these are basically agreements that brokerage or other organizations can use a customer to buy a business generally it’s a method of having a lot more take advantage of without actually owning any of the stock you are earning a contract with said institution now cfds are really not available to people in the us however they are offered to individuals over in europe and in the uk however i need to state given the scariness of utilize and more than 60
of individuals trading cfds lose money i simply entirely stay away from cfds particularly if you are a newer or intermediate financier and on that also simply stay away from take advantage of it’s not actually helpful for your portfolio now before we proceed 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 commodities now this is the greatest issue etoro has in my opinion and they are taking a look at altering this very very soon in fact i think it’s one of their biggest 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 wish to include every cent stock under the sun that nobody’s in fact trading like i said they make their money on the spread so the more people trading a stock the more money 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 cash so they are only adding stocks that they feel that an advantageous and b well less risky i actually see this as a bit of a positive for new financiers although for someone 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 wish to trade or at least take a look at and not on the platform now that stated 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 enjoying this it can be bothersome that maybe one out of 10 stocks is in fact not available on the platform so let’s hope etoro enjoys this video and it changes really 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. locals can register for a virtual trading account. However, 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 customers presently can not trade with eToro. The company intends to have 50-state availability eventually. Up until then, some traders will have to look somewhere else.
Alternatives to think about
If you want to trade stocks and cryptocurrencies in the same place: Robinhood provides trading in stocks and choices, including fractional shares. In addition, it uses 7 different cryptocurrencies and charges no deal charges.