I’ve been using etoro for several years now and i have to say considering that my last etoro evaluation video the platform itself has changed a hell of a lot i believed what much better chance with the brand-new year to give a new evaluation on etoro talk about the great points the bad points and the things that etoro frantically needs to enhance on if it is undoubtedly to complete 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 alternative then this video is for you all i ask in return is if you find this video helpful you carefully 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 desire to clarify etoro is not the sole brokerage account i use i do have a number of accounts of them and i have actually utilized them for a number of years nevertheless i do feel there is lots of locations that etor frantically needs to enhance on if it is certainly to compete and i’ll be quite severe in criticizing them in this video i feel like it’s just fair as someone who does use etoro on a daily basis to provide the harsh and sincere truth on the negative side as well as the positive side nevertheless total i do have 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 state jump in the minimums are rather low offer it a try and see if it fits your needs and if you do so by means of the affiliate link down on the pinned
comment and follow the actions there you do actually get life time access to our lwt etoro discord so you can interact with other investors directly even if you do open the account realize 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 have to do with 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 biggest game changer for this business i need to state myself as someone who has actually worked in finance for over 15 years etoro are tackling it the proper way they are regulated in several jurisdictions and they are expanding at the best pace ensuring all the eyes are dotted all the t’s are crossed prior to 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 obviously they are on the finra website over in the us as i stated 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 before they launch stock trading over the in 2015 or two is actually a great sign for me because they’re ensuring they don’t have a scenario where they leave themselves open to lawsuits or they screw up with policy it appears every second week robin hood has some lawsuit or some huge problem they need to deal with we have crypto brokers like binance over in the uk facing severe difficulty with the policy and the fca there it appears that etoro are taking the right steps first prior to they launch making sure that the customers are in the most safe possible position and they don’t leave themselves open i have to state this is an excellent sign for a modern day 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 certain that all the eyes are dotted or the t’s are crossed prior to they open in any area they are really working in this reveals me that etoro is wanting to remain for the long term and they have clear aims of growing to be among the biggest brokerages worldwide now the minimum quantity required to open an account does vary on where you are located on screen now you can see the minimums offered but 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 nations it’s just fifty dollars so you can go ahead inspect 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 complimentary brokerage but obviously brokers want to generate income so how the hell do they do that well the very first apparent charge is if you take cash out of your account there’s a five dollars cost but to be honest that most likely gets wrapped up in transaction costs and he toro probably does not see that much of it the method they make their money is on something called a spread if you go onto a lot of brokers these days 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 usually it’s just a very little charge which is called the spread that is the cost that etoro will potentially keep on this trade that’s how they generate income due to the fact that they are not charging you a commission to open the trade they’re just opening the trade at a somewhat greater rate and the most convenient method of describing this is if you purchased say apple in this example on screen from time to time you immediately put it in your portfolio you will see a slight loss on this trade week one day one minute one second one and that portion loss is just how much it cost you to open that trade or you can even actually see the dollar and go charge of just how much it approximately cost you to open stated trade however after utilizing this platform for a long time when you close the trade also there is a slight difference and what takes place here is etoro tends to determine the difference and that is how much they’ve 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 cost that i get charged is a lot less than the initial charge that i had for opening the trade itself but this is the typical standard structure these days for a lot of brokers that use commission open markets if you do not want 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 fee per trade but for me personally i think for more recent investors particularly this is a much cheaper method of doing things now what does etoro have to use well they use stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and many many more properties like commodities and forex or currencies but having a platform that allows you to trade several sectors is certainly advantageous for instance you can short bitcoin and go long silver you could likewise short the japanese yen and go long into gold there is various aspects available with this platform and i feel in the modern world we reside in currency products things of the sort are absolutely more needed in brokerage houses especially for the new financier however i did discuss cfds though which is a contract for difference these are basically agreements that brokerage or other institutions can offer a customer to purchase a business typically it’s a way of having a lot more leverage without actually owning any of the stock you are making an agreement with said institution now cfds are in fact not offered to people in the us but they are available to individuals over in europe and in the uk but i have to state offered the scariness of utilize and more than 60
of people trading cfds lose cash i just completely stay away from cfds specifically if you are a newer or intermediate investor and on that too simply stay away from take advantage of it’s not actually good for your portfolio now before we carry on to the two most popular things with etoro and things that people tend to enjoy the most we need to discuss the stocks etfs and commodities now this is the most significant problem etoro has in my viewpoint and they are looking at altering this extremely very soon in fact i think it’s one of their greatest goals 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 slow rate they do not wish to add every cent stock under the sun that nobody’s actually trading like i stated they make their cash on the spread so the more people trading a stock the more cash they make if they included a low-cap cent stock that only one individual’s trading every single day they’re not going to make that much cash so they are just including stocks that they feel that a beneficial and b well less risky i actually see this as a little bit of a positive for brand-new investors although for someone like myself who’s had a lot more
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experience it is quite irritating that some of the stocks that i do wish to trade or at least look at and not on the platform now that said i have spoken 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 may not even be that relevant but i’m sure if you are a torah user and seeing this it can be frustrating that possibly one out of 10 stocks is actually not available on the platform so let’s hope etoro sees this video and it alters very soon now the two most popular things on etoro is the popular investing and the social platform program
Only readily available in 43 states
All U.S. locals can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee consumers presently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the exact same location: Robinhood provides trading in stocks and options, including fractional shares. In addition, it uses 7 various cryptocurrencies and charges no transaction charges.