so i’ve been using etoro for several years now…Etoro For Belgium… and i have to say considering that my last etoro review video the platform itself has actually altered a hell of a lot i believed what better chance with the new year to give a brand-new evaluation on etoro speak about the assets the bad points and the important things that etoro frantically needs to improve 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 brand-new to investing or are just trying to find a 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 gently tap that like button to help me out with the youtube gods and without further 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 actually used them for a number of years nevertheless i do feel there is many areas that etor frantically requires to improve on if it is undoubtedly to compete and i’ll be quite severe in criticizing them in this video i feel like it’s only fair as somebody who does utilize etoro daily to offer the honest and severe truth on the unfavorable side in addition to the positive side nevertheless overall i do need to state i am excessively happy with them and if you are looking for a 2nd brokerage account or our new financier i would simply say jump in the minimums are quite low offer 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 really get lifetime access to our lwt etoro discord so you can connect with other financiers straight even if you do open the account realize it’s not for you that chat room is readily available for you simply follow the steps down on the pinned comments 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 are about to release stock trading in the us which i feel will be the biggest game changer for this company i need to state myself as someone who has worked in finance for over 15 years etoro are tackling it the right way they are regulated in many different jurisdictions and they are expanding at the ideal pace making sure 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 controlled in australia and naturally they are on the finra site over in the us as i said u.s stock trading is coming very soon however the truth that they are taking their time over in
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the us prior to they introduce stock trading over the last year or so is actually a great sign for me since they’re ensuring they do not have a scenario where they leave themselves open to suits or they mess up with regulation it appears every second week robin hood has some lawsuit or some huge complaint they have to handle we have crypto brokers like binance over in the uk facing serious difficulty with the fca and the guideline there it appears that etoro are taking the best actions first prior to they release ensuring that the clients remain in the safest possible position and they don’t leave themselves open i have to say this is a fantastic sign for a modern brokerage with an app unlike the old conventional saxo bank and interactive brokers a modern commission free platform more on that later going the best steps making sure that all the eyes are dotted or the t’s are crossed before they open in any area they are actually working in this reveals me that etoro is looking to stay for the long term and they have clear goals of growing to be one of the biggest brokerages worldwide now the minimum amount required to open an account does differ on where you are located 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 countries 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 said etoro is a commission complimentary brokerage but naturally brokers want to make money so how the hell do they do that well the first obvious charge is if you take cash out of your account there’s a five dollars fee but to be sincere that most likely gets wrapped up in deal charges and he toro most likely doesn’t see that much of it the method they make their cash 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 normally it’s simply a really little fee which is called the spread that is the charge that etoro will potentially continue this trade that’s how they make money because they are not charging you a commission to open the trade they’re simply opening the trade at a somewhat greater rate and the most convenient way of explaining this is if you purchased say apple in this example on screen now and then you quickly put it in your portfolio you will see a small 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 in fact go and see the dollar cost of just how much it approximately cost you to open said trade however after using this platform for a long time when you close the trade as well there is a slight difference and what occurs here is etoro tends to determine the distinction which is just how much they’ve made i have tracked this for a long period of time and seen that
when i really do close a trade quite a great deal of the time the cost that i get charged is a lot less than the preliminary charge that i had for opening the trade itself however this is the regular standard structure these days for a lot of brokers that offer commission open markets 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 fee per trade but for me personally i think for more recent investors particularly this is a more affordable way of doing things now what does etoro need to use well they provide stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and many a lot more assets like commodities and foreign exchange or currencies but having a platform that permits you to trade multiple sectors is certainly helpful for example you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is several aspects offered with this platform and i feel in the modern day world we live in currency commodities things of the sort are absolutely more required in brokerage houses especially for the brand-new investor however i did discuss cfds though which is a contract for difference these are essentially contracts that brokerage or other institutions can provide a client to buy a business usually 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 said institution now cfds are actually not available to individuals in the us however they are available to individuals over in europe and in the uk however i have to say provided the scariness of utilize and more than 60
of people trading cfds lose cash i simply totally keep away from cfds particularly if you are a newer or intermediate financier and on that as well simply keep away from take advantage of it’s not really good for your portfolio now before we proceed to the two most popular things with etoro and things that people tend to love the most we require to speak about the stocks etfs and commodities now this is the biggest problem etoro has in my opinion and they are taking a look at altering this really 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 relatively sluggish rate they do not wish to add every penny stock under the sun that no one’s actually trading like i said 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 penny stock that only one individual’s trading each and every single day they’re not going to make that much cash so they are just adding stocks that they feel that an advantageous and b well less dangerous i in fact see this as a 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 quite frustrating that a few of the stocks that i do want to trade or a minimum of 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 may not even be that appropriate but i’m sure if you are a torah user and viewing this it can be frustrating that perhaps one out of 10 stocks is actually not available on the platform so let’s hope etoro enjoys this video and it changes 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. homeowners can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee clients currently 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 alternatives, consisting of fractional shares. In addition, it uses 7 various cryptocurrencies and charges no deal fees.