I have actually been utilizing etoro for numerous years now and i have to say given that my last etoro review video the platform itself has actually changed a hell of a lot i believed what much better chance with the new year to give a brand-new evaluation on etoro talk about the excellent points the bad points and the things that etoro desperately needs to enhance 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 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 beneficial 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 use i do have a number of accounts of them and i have used them for several years however i do feel there is lots of areas that etor desperately requires to enhance on if it is indeed to compete and i’ll be quite harsh in slamming them in this video i feel like it’s only fair as somebody who does utilize etoro on a day-to-day basis to offer the honest and severe truth on the unfavorable side as well as the favorable side however general i do have to say i am overly happy with them and if you are looking for a 2nd brokerage account or our new financier i would just 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
comment and follow the steps there you do actually get lifetime access to our lwt etoro discord so you can connect with other investors directly even if you do open the account realize it’s not for you that chatroom is readily 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 absolute mega giant of a broker over here in europe and they will launch stock trading in the us which i feel will be the most significant game changer for this business i need to say myself as someone 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 broadening at the best pace making certain all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for example they are regulated 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 fact that they are taking their time over in
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the us prior to they introduce stock trading over the last year approximately is in fact a great sign for me due to the fact that they’re making certain they don’t have a circumstance where they leave themselves open to lawsuits or they screw up with guideline it seems every second week robin hood has some lawsuit or some big grievance they have to deal with we have crypto brokers like binance over in the uk dealing with serious difficulty with the regulation and the fca there it appears that etoro are taking the right steps initially prior to they introduce making certain that the customers are in the safest possible position and they don’t leave themselves open i need to say this is a great sign for a modern day brokerage with an app unlike the old conventional saxo bank and interactive brokers a modern day 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 area they are in fact working in this reveals me that etoro is looking to stay 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 differ on where you are located on screen now you can see the minimums available however if you are from the us or the uk
the minimum to open an account is in fact ten dollars and a lot of other countries it’s just fifty dollars so you can proceed examine 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 complimentary brokerage but naturally 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 5 bucks charge however to be honest that probably gets wrapped up in transaction 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 most brokers nowadays unless you’re getting charged a flat rate you will see that when you buy a stock and when you sell a stock there’s a little distinction in between usually it’s just an extremely small charge which is called the spread that is the charge that etoro will potentially keep on this trade that’s how they earn money since they are not charging you a commission to open the trade they’re simply opening the trade at a slightly greater price and the simplest way of describing this is if you purchased say 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 2nd one and that portion loss is just how much it cost you to open that trade or you can even actually go and see the dollar cost of just how much it roughly cost you to open said trade nevertheless after using this platform for a long period of time when you close the trade too there is a small distinction and what takes place here is etoro tends to determine the distinction which is 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 cost that i get charged is a lot less than the initial charge that i had for opening the trade itself however this is the typical basic structure these days 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 repaired charge per trade but for me personally i think for more recent investors especially this is a more affordable method of doing things now what does etoro have to provide well they provide stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and many many more possessions like commodities and forex or currencies however having a platform that permits you to trade several sectors is certainly advantageous 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 readily available with this platform and i feel in the contemporary world we live in currency commodities things of the sort are certainly more required in brokerage homes specifically for the new investor nevertheless i did point out cfds though which is a contract for distinction these are generally agreements that brokerage or other institutions can provide a customer to purchase a business generally it’s a method of having a lot more take advantage of without really owning any of the stock you are earning an agreement with stated institution now cfds are really not available to people in the us however they are offered to people over in europe and in the uk but i have to state provided the scariness of take advantage of and more than 60
of individuals trading cfds lose cash i simply totally stay away from cfds specifically if you are a newer or intermediate investor and on that also just keep away from leverage it’s not truly helpful for your portfolio now prior to we move on to the two most popular things with etoro and things that individuals tend to enjoy the most we require to discuss the stocks etfs and commodities now this is the biggest issue etoro has in my opinion and they are taking a look at altering this really soon in fact i think it’s one of their greatest objectives for 2022. now although etoro tends to have most the stocks that you want to trade or etfs they don’t have them all and they are adding them at a relatively sluggish rate they do not want to include every cent stock under the sun that no one’s really trading like i stated they make their cash on the spread out so the more people trading a stock the more cash they make if they added in a low-cap cent stock that only one person’s trading every single day they’re not going to make that much cash so they are just adding stocks that they feel that an useful and b well less dangerous i in fact see this as a little a favorable for new financiers although for somebody like myself who’s had a lot more
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experience it is rather bothersome that a few 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 actually talked to etoro on this and they have actually assured 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 pertinent but i make certain if you are a torah user and viewing this it can be annoying that possibly one out of 10 stocks is in fact not offered on the platform so let’s hope etoro watches this video and it changes really soon now the two most popular things on etoro is the social platform and the popular investing program
Only available in 43 states
All U.S. citizens can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee clients presently can not trade with eToro.
Alternatives to consider
If you wish to trade stocks and cryptocurrencies in the very same location: Robinhood provides trading in stocks and options, including fractional shares. In addition, it offers 7 various cryptocurrencies and charges no transaction fees.