so i’ve been using etoro for several years now…Etoro O Que O Total Alocado… and i need to say because my last etoro evaluation video the platform itself has altered a hell of a lot i thought what much better opportunity with the new year to provide a new review on etoro speak about the assets the bad points and the things that etoro desperately needs to improve 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 just 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 advantageous you carefully 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 use i do have several accounts of them and i have actually used them for several years nevertheless i do feel there is many locations that etor desperately needs 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 only fair as someone who does use etoro every day to offer the severe and truthful fact on the unfavorable side as well as the positive side nevertheless overall i do need to say i am overly delighted with them and if you are looking for a 2nd brokerage account or our brand-new financier i would simply state jump in the minimums are quite low offer it a whirl 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 lifetime access to our lwt etoro discord so you can communicate with other financiers directly even if you do open the account understand it’s not for you that chat room is readily available for you just 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 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 business i need to say myself as someone who has worked in finance for over 15 years etoro are tackling it the right way they are managed in many different jurisdictions and they are broadening at the ideal speed making sure all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for example they are controlled with the fca over in the uk sysek over in cyprus they’re managed in australia and obviously they are on the finra site over in the us as i said u.s stock trading is coming soon nevertheless the fact that they are taking their time over in
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the us before they release stock trading over the last year approximately is in fact an excellent sign for me because they’re ensuring they do not have a situation where they leave themselves open to suits or they ruin with guideline it appears every second week robin hood has some lawsuit or some huge complaint they need to deal with we have crypto brokers like binance over in the uk facing major trouble with the fca and the guideline there it seems that etoro are taking the best actions initially before they release ensuring that the customers are in the most safe possible position and they do not leave themselves open i need to state this is an excellent sign for a contemporary brokerage with an app unlike the old traditional saxo bank and interactive brokers a contemporary commission totally free platform more on that later going the best steps ensuring that all the eyes are dotted or the t’s are crossed before they open in any area they are actually operating in this reveals me that etoro is seeking to stay for the long term and they have clear objectives of growing to be among the most significant brokerages on the planet now the minimum amount needed 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 really 10 dollars and a great deal of other nations it’s only 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 free brokerage however obviously brokers wish 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 charge but to be truthful that most likely gets involved transaction fees and he toro most likely doesn’t 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 typically it’s simply a really small cost and that 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 just opening the trade at a slightly greater cost and the most convenient method of explaining this is if you purchased state apple in this example on screen from time to time you instantly put it in your portfolio you will see a minor 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 in fact go and see the dollar charge of how much it roughly cost you to open said trade however after using this platform for a long time when you close the trade also there is a small distinction and what occurs here is etoro tends to calculate the distinction which is how much they’ve made i have actually tracked this for a long time and seen that
when i really do close a trade rather a lot of the time the fee that i get charged is a lot less than the initial charge that i had for opening the trade itself however this is the normal standard structure these days for a great deal of brokers that provide commission open markets if you do not wish to pay a spread you can go and open an interactive brokers account a saxo bank account or some of the other advanced platforms and you will get charged a fixed fee per trade but for me personally i believe for newer investors especially this is a more affordable way of doing things now what does etoro have to use well they use stocks etfs cryptocurrency cfds more on that in just a second copy trading and many much more assets like products and foreign exchange or currencies but having a platform that allows you to trade multiple sectors is definitely advantageous for instance you can short bitcoin and go long silver you could also 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 commodities things of the sort are certainly more needed in brokerage homes specifically for the new financier however i did discuss cfds though which is a contract for difference these are essentially agreements that brokerage or other institutions can offer a client to buy a business typically it’s a way of having a lot more leverage without actually owning any of the stock you are earning a contract with stated institution now cfds are in fact not readily available to people in the us but they are readily available to individuals over in europe and in the uk however i need to state provided the scariness of utilize and more than 60
of individuals trading cfds lose cash i just totally keep away from cfds particularly if you are a more recent or intermediate investor and on that also just stay away from utilize it’s not actually great for your portfolio now before we move on to the two most popular things with etoro and things that individuals tend to enjoy the most we require to speak about the stocks etfs and commodities now this is the greatest problem etoro has in my opinion and they are looking at changing this extremely soon in fact i believe it is among their greatest goals for 2022. now although etoro tends to have most the stocks that you wish to trade or etfs they do not have them all and they are including them at a fairly slow rate they do not want to include every penny stock under the sun that nobody’s really trading like i stated they make their money on the spread so the more individuals trading a stock the more cash they make if they included a low-cap penny stock that only one individual’s trading every single day they’re not going to make that much money so they are just including stocks that they feel that an useful and b well less dangerous i actually see this as a little a favorable for new investors although for someone like myself who’s had a lot more
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experience it is rather annoying that a few 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 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 might not even be that appropriate but i’m sure if you are a torah user and watching this it can be annoying that possibly one out of 10 stocks is actually not available on the platform so let’s hope etoro enjoys this video and it changes really 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. homeowners 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 think about
If you want to trade stocks and cryptocurrencies in the same place: Robinhood offers trading in stocks and choices, consisting of fractional shares. In addition, it offers 7 different cryptocurrencies and charges no deal costs.