so i have actually been utilizing etoro for numerous years now…Etoro Philippines Office… and i have to say since my last etoro evaluation video the platform itself has altered a hell of a lot i thought what better opportunity with the brand-new year to give a new review on etoro talk about the good points the bad points and the important things that etoro frantically requires to improve on if it is indeed to compete 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 option 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 assist me out with the youtube gods and without more ado let’s proceed with the video so right off the bat i wish to clarify etoro is not the sole brokerage account i use i do have numerous accounts of them and i have utilized them for several years nevertheless i do feel there is numerous locations that etor desperately needs to improve on if it is indeed to complete and i’ll be quite harsh in slamming them in this video i seem like it’s only fair as someone who does use etoro on a daily basis to offer the extreme and honest fact on the negative side in addition to the positive side nevertheless overall i do need to say i am extremely pleased 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 offer it a try and see if it fits your needs and if you do so through the affiliate link down on the pinned
comment and follow the actions there you do actually get lifetime access to our lwt etoro discord so you can connect with other investors straight even if you do open the account recognize it’s not for you that chat room is easily available for you just follow the steps down on the pinned remarks 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 release stock trading in the us which i feel will be the most significant game changer for this business i have to state myself as somebody who has actually worked in financing for over 15 years etoro are tackling it properly they are regulated in many different jurisdictions and they are expanding at the best pace 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 controlled in australia and obviously they are on the finra site over in the us as i said u.s stock trading is coming very soon however the fact that they are taking their time over in
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the us before they release stock trading over the in 2015 or so is really a great sign for me because they’re making sure they don’t have a circumstance where they leave themselves open to lawsuits or they mess up with regulation it seems 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 serious difficulty with the policy and the fca there it appears that etoro are taking the best steps first before they release making sure that the customers are in the safest possible position and they don’t leave themselves open i need to say this is a fantastic sign for a modern brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern day commission free platform more on that later going the ideal actions ensuring 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 shows me that etoro is wanting to stick around for the long term and they have clear aims of growing to be one of the biggest brokerages worldwide now the minimum quantity required to open an account does differ on where you are located on screen now you can see the minimums offered however if you are from the us or the uk
the minimum to open an account is actually 10 dollars and a lot of other nations it’s only fifty dollars so you can go ahead check 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 stated etoro is a commission totally free brokerage however of course brokers wish to earn money so how the hell do they do that well the first obvious cost is if you take money out of your account there’s a five bucks cost however to be honest that most likely gets involved deal charges and he toro most likely does not see that much of it the way 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 buy a stock and when you sell a stock there’s a little difference in between normally it’s just an extremely small charge and that is called the spread that is the cost that etoro will potentially keep this trade that’s how they earn 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 cost and the simplest way of explaining this is if you bought 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 second one and that portion loss is how much it cost you to open that trade or you can even in fact drop in the dollar cost of how much it roughly cost you to open stated trade however after utilizing this platform for a long period of time when you close the trade too there is a small difference and what happens here is etoro tends to determine the distinction and that is just how much they’ve made i have actually tracked this for a long time and seen that
when i in fact do close a trade rather a great deal of the time the cost that i get charged is a lot less than the initial fee that i had for opening the trade itself however this is the typical standard structure nowadays for a great deal of brokers that use commission open markets if you don’t want to pay a spread you can go and open an interactive brokers account a saxo savings account or a few of the other more advanced platforms and you will get charged a repaired cost per trade but for me personally i believe for more recent financiers particularly 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 numerous many more possessions like products and foreign exchange or currencies however having a platform that enables you to trade several sectors is definitely 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 elements available with this platform and i feel in the contemporary world we live in currency products things of the sort are certainly more required in brokerage homes especially for the brand-new financier however i did mention cfds though which is a contract for distinction these are basically agreements that brokerage or other organizations can use a client to purchase a business generally it’s a method of having a lot more take advantage of without actually owning any of the stock you are earning a contract with said organization now cfds are really not offered to people in the us but they are offered to people over in europe and in the uk however i have to say provided the scariness of utilize and more than 60
of individuals trading cfds lose money i simply completely stay away from cfds specifically if you are a newer or intermediate investor and on that also just stay away from leverage it’s not truly great for your portfolio now before we proceed to the two most popular things with etoro and things that individuals tend to like the most we need to speak about the stocks etfs and products now this is the biggest issue etoro has in my opinion and they are looking at altering this very soon in fact i believe it’s one of their most significant goals 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 relatively slow rate they do not want to add every penny stock under the sun that nobody’s actually trading like i said they make their cash on the spread so the more individuals trading a stock the more money they make if they added in a low-cap penny stock that only one individual’s trading every day they’re not going to make that much money so they are only adding stocks that they feel that an useful and b well less dangerous i really see this as a little 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 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 actually spoken with 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 might not even be that relevant however i make certain if you are a torah user and seeing this it can be bothersome that perhaps one out of 10 stocks is actually not readily available on the platform so let’s hope etoro sees this video and it alters really 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. residents 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 same place: Robinhood provides trading in stocks and options, consisting of fractional shares. In addition, it provides 7 various cryptocurrencies and charges no deal costs.