I’ve been utilizing etoro for numerous years now and i have to say given that my last etoro evaluation video the platform itself has changed a hell of a lot i thought what much better opportunity with the new year to provide a new review on etoro talk about the good points the bad points and the things that etoro desperately requires 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 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 find this video beneficial you carefully 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 a number of accounts of them and i have actually utilized them for a number of years however i do feel there is numerous areas that etor frantically needs to improve on if it is undoubtedly to complete and i’ll be quite harsh in criticizing them in this video i feel like it’s just reasonable as someone who does use etoro on a daily basis to offer the honest and extreme truth on the unfavorable side as well as the positive side nevertheless total i do have to say i am excessively happy with them and if you are looking for a second brokerage account or our new investor i would simply say dive in the minimums are quite low give it a try and see if it fits your needs and if you do so via the affiliate link down on the pinned
comment and follow the actions there you do really get lifetime access to our lwt etoro discord so you can interact with other investors straight even if you do open the account recognize it’s not for you that chatroom is easily 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 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 company i have to say myself as someone who has operated in finance for over 15 years etoro are tackling it properly they are managed in many different jurisdictions and they are broadening at the right speed making certain all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for instance they are regulated 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 fact that they are taking their time over in
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the us before they introduce stock trading over the last year or so is really a great sign for me due to the fact that they’re ensuring they do not have a circumstance where they leave themselves open to lawsuits or they mess up with policy it appears every second week robin hood has some court case or some big complaint they need to deal with we have crypto brokers like binance over in the uk dealing with major difficulty with the fca and the regulation there it seems that etoro are taking the right steps initially prior to they launch ensuring that the customers remain 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 standard saxo bank and interactive brokers a contemporary commission totally free platform more on that later going the best actions making sure that all the eyes are dotted or the t’s are crossed before they open in any location they are actually operating in this shows me that etoro is wanting to remain 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 required 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 lot of other countries it’s just fifty dollars so you can proceed examine 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 free brokerage however of course brokers wish to earn money so how the hell do they do that well the first obvious charge is if you take cash out of your account there’s a 5 bucks fee but to be sincere that probably gets involved transaction charges and he toro probably doesn’t see that much of it the method they make their money 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 purchase a stock and when you sell a stock there’s a little difference in between typically it’s simply a very small charge and that is called the spread that is the cost that etoro will possibly keep on 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 just opening the trade at a slightly higher price and the most convenient way of describing this is if you bought state apple in this example on screen now and then 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 really go and see the dollar fee of just how much it approximately cost you to open stated trade nevertheless after using this platform for a long time when you close the trade too there is a slight distinction and what happens here is etoro tends to calculate the difference which is just how much they have actually made i have tracked this for a long period of time and seen that
when i in fact 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 but this is the typical standard structure nowadays for a lot of brokers that offer commission free trades if you do not want to pay a spread you can go and open an interactive brokers account a saxo checking account or a few of the other advanced platforms and you will get charged a fixed charge per trade but for me personally i believe for newer financiers especially this is a much cheaper way of doing things now what does etoro need to use well they offer stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and lots of many more assets like commodities and forex or currencies however having a platform that enables you to trade several sectors is certainly 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 many different aspects available with this platform and i feel in the contemporary world we live in currency commodities things of the sort are definitely more required in brokerage houses specifically for the brand-new financier however i did mention cfds though which is a contract for difference these are basically contracts that brokerage or other organizations can provide a customer to purchase a business generally it’s a way of having a lot more take advantage of without actually owning any of the stock you are making an agreement with said institution now cfds are really not offered to individuals in the us however they are available to individuals over in europe and in the uk however i have to say provided the scariness of take advantage of and more than 60
of people trading cfds lose cash i just entirely stay away from cfds particularly if you are a more recent or intermediate financier and on that too just stay away from take advantage of it’s not really great for your portfolio now prior to we proceed to the two most popular things with etoro and things that people tend to like the most we need to discuss the stocks etfs and commodities now this is the greatest issue etoro has in my opinion and they are taking a look at changing this extremely soon in fact i believe it is among their greatest 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 adding them at a reasonably sluggish rate they do not wish to include every penny stock under the sun that nobody’s really trading like i said they make their money on the spread out so the more people trading a stock the more money they make if they included a low-cap penny stock that only one person’s trading every 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 risky i in fact see this as a little a favorable for new investors although for somebody like myself who’s had a lot more
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experience it is rather bothersome that a few of the stocks that i do want to trade or at least take a look at and not on the platform now that said i have actually spoken to etoro on this and they have assured 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 pertinent but i’m sure if you are a torah user and viewing this it can be annoying that perhaps one out of 10 stocks is in fact not available on the platform so let’s hope etoro enjoys this video and it alters extremely soon now the two most popular things on etoro is the social platform and the popular investing program
Only readily 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 currently can not trade with eToro.
Alternatives to think about
If you want to trade stocks and cryptocurrencies in the exact same place: Robinhood provides trading in stocks and choices, including fractional shares. In addition, it offers 7 various cryptocurrencies and charges no deal costs.