I’ve been utilizing etoro for numerous years now and i have to state given that my last etoro review video the platform itself has changed a hell of a lot i believed what better chance with the new year to offer a brand-new evaluation on etoro talk about the good points the bad points and the things that etoro frantically needs to enhance on if it is undoubtedly 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 simply looking for a new brokerage account and etoro is an alternative then this video is for you all i ask in return is if you discover this video helpful you gently 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 utilize i do have numerous accounts of them and i have utilized them for numerous years nevertheless i do feel there is lots of locations that etor desperately requires to enhance on if it is indeed to contend and i’ll be quite harsh in criticizing them in this video i feel like it’s only reasonable as somebody who does use etoro on an everyday basis to provide the harsh and honest reality on the negative side as well as the favorable side nevertheless total i do have to state i am overly happy with them and if you are looking for a 2nd brokerage account or our brand-new investor i would simply say jump in the minimums are quite low give it a try and see if it fits your requirements and if you do so through the affiliate link down on the pinned
https://www.youtube.com/watch?v=mT6sM8xdKqs
remark and follow the actions there you do actually get life time access to our lwt etoro discord so you can interact with other investors straight even if you do open the account realize it’s not for you that chat room is readily offered for you simply 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 company i need to say myself as somebody who has actually operated in finance for over 15 years etoro are tackling it the proper way they are managed in many different jurisdictions and they are broadening 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 managed 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 stated u.s stock trading is coming very soon nevertheless the fact that they are taking their time over in
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the us prior to they launch stock trading over the last year approximately is really a good sign for me due to the fact that they’re making sure they don’t have a circumstance 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 big problem they have to deal with we have crypto brokers like binance over in the uk dealing with serious trouble with the policy and the fca there it appears that etoro are taking the right steps initially prior to they release making certain that the customers remain in the best possible position and they do not leave themselves open i have to say this is a great 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 right steps ensuring that all the eyes are dotted or the t’s are crossed before they open in any area they are in fact operating in this shows me that etoro is aiming to remain for the long term and they have clear aims of growing to be among the most significant brokerages worldwide now the minimum quantity needed to open an account does differ 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 10 dollars and a lot of other countries it’s just fifty dollars so you can proceed inspect this link it will remain 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 totally free brokerage but of course brokers want to generate income so how the hell do they do that well the first obvious cost is if you take cash out of your account there’s a five dollars cost however to be truthful that most likely gets involved deal costs and he toro probably does not see that much of it the way they make their cash is on something called a spread if you go onto many brokers these days 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 difference in between typically it’s simply a really little fee which 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 rate and the easiest method of describing this is if you bought say apple in this example on screen once in a while you instantly put it in your portfolio you will see a slight loss on this trade week one day one minute one 2nd one which 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 how much it approximately 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 minor distinction and what happens here is etoro tends to calculate the distinction which is just how much they have actually made i have actually tracked this for a very long time and seen that
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when i actually do close a trade quite a lot of the time the fee 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 nowadays for a lot of brokers that provide commission open markets if you don’t want to pay a spread you can go and open an interactive brokers account a saxo checking account or some 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 especially this is a much cheaper method of doing things now what does etoro have to use well they offer stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and numerous a lot more assets like products and forex or currencies however having a platform that allows you to trade several sectors is absolutely advantageous for example you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is many different aspects readily available with this platform and i feel in the modern day world we reside in currency commodities things of the sort are certainly more required in brokerage homes particularly for the brand-new financier nevertheless i did discuss cfds though which is a contract for distinction these are basically contracts that brokerage or other institutions can use a customer to purchase a company usually it’s a way of having a lot more utilize without in fact owning any of the stock you are making an agreement with said organization now cfds are in fact not readily available to people in the us however they are offered to individuals over in europe and in the uk but i need to state offered the scariness of leverage and more than 60
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of individuals trading cfds lose cash i just completely stay away from cfds especially if you are a newer or intermediate financier and on that also just stay away from utilize it’s not actually helpful for your portfolio now before we move on to the two most popular things with etoro and things that people tend to like the most we need to speak about the stocks etfs and commodities now this is the most significant issue etoro has in my opinion and they are looking at changing this extremely soon in fact i think it is among 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 including them at a fairly 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 money on the spread out so the more individuals trading a stock the more money they make if they added in a low-cap cent stock that only one individual’s trading every day they’re not going to make that much money so they are just adding stocks that they feel that a beneficial and b well less dangerous i actually see this as a 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 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 spoken to etoro on this and they have actually guaranteed 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 make sure if you are a torah user and seeing this it can be annoying that maybe one out of 10 stocks is really not available on the platform so let’s hope etoro views this video and it alters extremely soon now the two most popular things on etoro is the popular investing and the social platform program
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Alternatives to consider
https://www.youtube.com/watch?v=daMK1Y54M-E
If you want to trade stocks and cryptocurrencies in the exact same location: Robinhood offers trading in stocks and alternatives, including fractional shares. In addition, it uses 7 different cryptocurrencies and charges no deal costs.