so i have actually been utilizing etoro for several years now…Etoro Python Api… and i need to state because my last etoro review video the platform itself has altered a hell of a lot i thought what better chance with the new year to offer a brand-new evaluation on etoro talk about the assets the bad points and the things that etoro frantically needs to improve on if it is indeed to take on the similarity robin hood when it opens stock trading in the us so if you are brand-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 discover this video useful you gently 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 wish to clarify etoro is not the sole brokerage account i utilize i do have several accounts of them and i have used them for several years nevertheless i do feel there is numerous areas that etor frantically requires to improve on if it is indeed to contend and i’ll be rather harsh in slamming them in this video i feel like it’s only fair as somebody who does utilize etoro on a daily basis to give the harsh and sincere reality on the unfavorable side in addition to the positive side nevertheless general i do need to state i am overly pleased with them and if you are trying to find a second brokerage account or our new financier 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 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 communicate with other investors straight even if you do open the account realize it’s not for you that chat room is easily offered for you simply 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 absolute 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 most significant game changer for this business i have to say myself as someone who has worked in financing for over 15 years etoro are setting about it the proper way they are controlled in many different jurisdictions and they are expanding at the best rate making sure all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for instance they are managed with the fca over in the uk sysek over in cyprus they’re regulated in australia and obviously they are on the finra site over in the us as i stated u.s stock trading is coming very soon however the reality that they are taking their time over in
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the us before they launch stock trading over the last year or two is actually a good sign for me due to the fact that they’re making certain they don’t have a situation where they leave themselves open to lawsuits or they mess up with regulation it seems every second week robin hood has some court case or some big grievance they need to deal with we have crypto brokers like binance over in the uk dealing with severe difficulty with the fca and the guideline there it appears that etoro are taking the best actions initially prior to they release making certain that the clients remain in the best possible position and they don’t leave themselves open i need to say this is a terrific sign for a contemporary brokerage with an app unlike the old conventional saxo bank and interactive brokers a modern day commission free platform more on that later going the best steps making sure that all the eyes are dotted or the t’s are crossed prior to they open in any area they are in fact working in this shows me that etoro is looking to remain for the long term and they have clear goals of growing to be among the biggest brokerages in the world now the minimum quantity needed to open an account does vary on where you lie 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 great deal of other nations it’s just fifty dollars so you can go ahead check this link it will be 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 obviously brokers wish to generate income so how the hell do they do that well the very first apparent cost is if you take money out of your account there’s a 5 dollars cost but to be honest that probably gets wrapped up in deal charges 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 most 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 typically it’s just a very little charge and that is called the spread that is the fee that etoro will possibly keep on this trade that’s how they make money since they are not charging you a commission to open the trade they’re just opening the trade at a somewhat higher price and the simplest way of explaining 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 drop in the dollar charge of how much it roughly 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 slight distinction and what happens here is etoro tends to determine the difference and that is how much they have actually made i have actually tracked this for a long time and seen that
when i actually do close a trade rather a lot of the time the charge that i get charged is a lot less than the preliminary cost that i had for opening the trade itself however this is the typical standard structure these days for a great deal of brokers that provide commission open markets if you don’t wish to pay a spread you can go and open an interactive brokers account a saxo savings account or some 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 investors specifically this is a much cheaper method of doing things now what does etoro have to offer well they provide stocks etfs cryptocurrency cfds more on that in just a second copy trading and lots of a lot more possessions like commodities and foreign exchange or currencies but having a platform that allows you to trade several sectors is absolutely beneficial for instance you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is many different aspects available with this platform and i feel in the modern day world we reside in currency products things of the sort are definitely more required in brokerage houses specifically for the new investor however i did discuss cfds though which is a contract for difference these are basically contracts that brokerage or other organizations can use a customer to purchase a company generally it’s a method of having a lot more utilize without really owning any of the stock you are earning a contract with said organization now cfds are in fact not offered to individuals in the us however they are available to people over in europe and in the uk however i need to state offered the scariness of leverage and more than 60
of people trading cfds lose cash i just completely keep away from cfds especially if you are a newer or intermediate financier and on that as well simply stay away from leverage it’s not really great for your portfolio now prior to we carry on to the two most popular things with etoro and things that individuals tend to like the most we require to talk about the stocks etfs and commodities now this is the biggest problem etoro has in my opinion and they are looking at altering this very soon in fact i think it is among their biggest objectives for 2022. now although etoro tends to have most the stocks that you want to trade or etfs they do not have them all and they are adding 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 said they make their cash on the spread so the more individuals trading a stock the more money they make if they included 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 in fact see this as a bit of a favorable for brand-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 want to trade or a minimum of look at and not on the platform now that stated i have spoken to 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 relevant however i make certain if you are a torah user and viewing this it can be bothersome that perhaps one out of 10 stocks is actually not available on the platform so let’s hope etoro views this video and it changes really very soon now the two most popular things on etoro is the popular investing and the social platform program
Only 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 customers presently can not trade with eToro.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the exact same place: Robinhood offers trading in stocks and alternatives, including fractional shares. In addition, it provides 7 various cryptocurrencies and charges no transaction charges.