so i have actually been utilizing etoro for several years now…Etoro Prepaied Gift Cards… and i need to say since my last etoro review video the platform itself has actually changed a hell of a lot i thought what better opportunity with the new year to offer a brand-new review on etoro discuss the assets the bad points and the important things that etoro desperately needs to improve on if it is undoubtedly to compete with the similarity robin hood when it opens stock trading in the us so if you are brand-new to investing or are simply trying to find a new brokerage account and etoro is a choice then this video is for you all i ask in return is if you find this video helpful you gently tap that like button to help me out with the youtube gods and without further ado let’s proceed with the video so right off the bat i want to clarify etoro is not the sole brokerage account i utilize i do have a number of accounts of them and i have utilized them for a number of years nevertheless i do feel there is lots of areas that etor frantically requires to improve on if it is indeed to contend and i’ll be quite severe in slamming them in this video i seem like it’s only reasonable as someone who does utilize etoro on a daily basis to provide the harsh and honest truth on the unfavorable side in addition to the positive side however overall i do have to say i am overly pleased with them and if you are trying to find a 2nd brokerage account or our new investor i would just say jump in the minimums are rather low offer it a whirl and see if it fits your requirements and if you do so by means of the affiliate link down on the pinned
https://www.youtube.com/watch?v=mT6sM8xdKqs
remark and follow the steps there you do actually get lifetime 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 easily available for you just 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 release stock trading in the us which i feel will be the most significant game changer for this business i have to say myself as someone who has operated in financing for over 15 years etoro are setting about it the right way they are managed in many different jurisdictions and they are expanding at the ideal rate making certain 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 controlled in australia and obviously they are on the finra site over in the us as i stated u.s stock trading is coming soon nevertheless the truth that they are taking their time over in
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the us prior to they launch stock trading over the in 2015 or two is really a good sign for me since they’re making sure they do not have a scenario 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 complaint they need to handle we have crypto brokers like binance over in the uk dealing with severe difficulty with the policy and the fca there it appears that etoro are taking the ideal steps initially prior to they launch ensuring that the customers are in the most safe possible position and they don’t leave themselves open i need to state this is a terrific sign for a contemporary brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern commission complimentary platform more on that later going the ideal actions making certain that all the eyes are dotted or the t’s are crossed before they open in any area they are really working in this shows me that etoro is wanting to stay for the long term and they have clear aims of growing to be one of the biggest brokerages on the planet now the minimum amount 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 really ten dollars and a great deal of other countries it’s only fifty dollars so you can go ahead check 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 said etoro is a commission totally free brokerage but naturally brokers wish to make money so how the hell do they do that well the first obvious charge is if you take money out of your account there’s a 5 bucks charge but to be sincere that probably gets involved transaction charges and he toro most likely doesn’t see that much of it the way they make their money 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 buy a stock and when you sell a stock there’s a little distinction in between generally it’s simply an extremely little fee and that is called the spread that is the fee that etoro will potentially keep on 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 easiest method of explaining this is if you purchased say apple in this example on screen from time to time you quickly put it in your portfolio you will see a minor loss on this trade week one day one minute one second one which percentage loss is 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 approximately cost you to open said trade however after utilizing this platform for a long period of time when you close the trade too there is a minor distinction and what occurs here is etoro tends to compute the distinction which is just how much they have actually made i have tracked this for a long period of time and seen that
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when i really do close a trade rather a great deal of the time the charge that i get charged is a lot less than the preliminary fee that i had for opening the trade itself however this is the normal basic structure nowadays for a lot of brokers that provide commission free trades if you don’t want to pay a spread you can go and open an interactive brokers account a saxo checking account or a few of the other more advanced platforms and you will get charged a fixed charge per trade but for me personally i think for more recent financiers particularly this is a more affordable way of doing things now what does etoro need to offer well they use stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and lots of many more properties like commodities and forex or currencies however having a platform that enables you to trade several sectors is definitely helpful 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 readily available with this platform and i feel in the modern day world we reside in currency commodities things of the sort are absolutely more required in brokerage homes specifically for the brand-new financier nevertheless i did mention cfds though which is a contract for distinction these are basically agreements that brokerage or other organizations can offer a client to buy a business typically it’s a way of having a lot more leverage without really owning any of the stock you are making a contract with said organization now cfds are really not offered to individuals in the us however they are offered to people over in europe and in the uk but i need to say provided the scariness of utilize and more than 60
https://www.youtube.com/watch?v=izOE26m_vXM
of people trading cfds lose money i simply totally keep away from cfds specifically if you are a newer or intermediate investor and on that too simply keep away from take advantage of it’s not truly good for your portfolio now before we move on to the two most popular things with etoro and things that people tend to love the most we require to discuss the stocks etfs and commodities now this is the biggest issue etoro has in my viewpoint and they are looking at altering this extremely soon in fact i think 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 reasonably slow rate they do not wish to include every cent stock under the sun that nobody’s actually trading like i stated 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 cent stock that only one individual’s trading every single day they’re not going to make that much money so they are only adding stocks that they feel that an advantageous and b well less risky i in fact see this as a little bit of a positive for brand-new investors although for somebody like myself who’s had a lot more
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experience it is rather frustrating that some of the stocks that i do want to trade or at least look at and not on the platform now that stated i have spoken with etoro on this and they have actually assured 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 might not even be that pertinent but i make sure if you are a torah user and viewing this it can be bothersome that possibly one out of 10 stocks is really not readily available on the platform so let’s hope etoro sees this video and it changes extremely very soon now the two most popular things on etoro is the social platform and the popular investing program
Only offered 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 customers presently can not trade with eToro.
Alternatives to think about
https://www.youtube.com/watch?v=daMK1Y54M-E
If you want to trade stocks and cryptocurrencies in the same place: Robinhood offers trading in stocks and alternatives, including fractional shares. In addition, it offers 7 various cryptocurrencies and charges no deal fees.