so i have actually been using etoro for numerous years now…Etoro Trading 212 Api Bot… and i need to say considering that my last etoro evaluation video the platform itself has actually altered a hell of a lot i thought what much better chance with the new year to give a new review on etoro speak about the good points the bad points and the important things that etoro desperately requires 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 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 find this video helpful you carefully tap that like button to help 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 utilize i do have a number of accounts of them and i have used them for numerous years however i do feel there is numerous areas that etor frantically needs to improve on if it is indeed to complete and i’ll be quite harsh in criticizing them in this video i seem like it’s just reasonable as somebody who does use etoro on a daily basis to provide the honest and harsh fact on the unfavorable side along with the positive side nevertheless overall i do have to say i am excessively delighted with them and if you are trying to find a second brokerage account or our new investor i would just say jump in the minimums are rather low provide it a try and see if it fits your needs and if you do so via the affiliate link down on the pinned
remark and follow the steps there you do in fact get life time access to our lwt etoro discord so you can communicate with other financiers straight even if you do open the account realize it’s not for you that chat room is readily 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 will introduce stock trading in the us which i feel will be the biggest game changer for this company i have to say myself as somebody who has actually operated in finance for over 15 years etoro are setting about it the proper way they are managed in several jurisdictions and they are expanding at the right speed 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 managed in australia and of course they are on the finra website over in the us as i said 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 an excellent sign for me due to the fact that they’re making sure they don’t have a scenario where they leave themselves open to suits or they ruin with policy it seems every second week robin hood has some court case or some big complaint they have to handle we have crypto brokers like binance over in the uk dealing with severe difficulty with the fca and the regulation there it seems that etoro are taking the right steps first before they launch making sure that the clients remain in the safest possible position and they do not leave themselves open i have to say this is a terrific sign for a modern brokerage with an app unlike the old traditional saxo bank and interactive brokers a contemporary commission complimentary platform more on that later going the best steps making certain 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 reveals me that etoro is wanting to stick around for the long term and they have clear aims of growing to be among the greatest brokerages in the world now the minimum quantity required to open an account does vary on where you lie on screen now you can see the minimums readily available however if you are from the us or the uk
the minimum to open an account is actually ten dollars and a great deal of other countries it’s only fifty dollars so you can proceed examine 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 said etoro is a commission free brokerage but of course brokers want to make money 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 five bucks charge but to be sincere that most likely gets wrapped up in transaction costs 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 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 difference in between typically it’s just a really little fee and that is called the spread that is the cost that etoro will potentially keep this trade that’s how they generate income since they are not charging you a commission to open the trade they’re just opening the trade at a somewhat higher cost and the simplest way of explaining this is if you bought say apple in this example on screen once in a while you quickly put it in your portfolio you will see a minor loss on this trade week one day one minute one 2nd one and that portion loss is how much it cost you to open that trade or you can even actually see the dollar and go charge of how much it approximately cost you to open stated trade however after utilizing this platform for a very long time when you close the trade as well there is a small difference and what occurs here is etoro tends to compute the difference which is 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 quite a lot of the time the cost that i get charged is a lot less than the preliminary fee that i had for opening the trade itself however this is the typical standard structure these days for a lot of brokers that offer 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 some of the other more advanced platforms and you will get charged a repaired charge per trade but for me personally i believe for newer financiers specifically this is a much cheaper method of doing things now what does etoro need to provide well they provide stocks etfs cryptocurrency cfds more on that in just a second copy trading and numerous many more assets like products and foreign exchange or currencies but having a platform that enables you to trade numerous 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 several elements offered with this platform and i feel in the modern day world we live in currency products things of the sort are definitely more required in brokerage houses especially for the new investor nevertheless i did discuss cfds though which is a contract for difference these are basically agreements that brokerage or other institutions can offer a customer to buy 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 stated organization now cfds are actually not offered to individuals in the us however they are offered to individuals over in europe and in the uk however i need to state offered the scariness of utilize and more than 60
of people trading cfds lose money i simply entirely stay away from cfds particularly if you are a more recent or intermediate investor and on that too just keep away from utilize it’s not truly great for your portfolio now prior to we move on 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 commodities now this is the biggest problem etoro has in my opinion and they are looking at changing this very soon in fact i think it’s one of their greatest objectives for 2022. now although etoro tends to have most the stocks that you want to trade or etfs they don’t have them all and they are adding them at a fairly sluggish rate they do not want to add every penny stock under the sun that nobody’s in fact trading like i stated they make their cash 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 person’s trading every single day they’re not going to make that much cash so they are only adding stocks that they feel that an advantageous and b well less dangerous i actually see this as a little bit of a favorable for new investors although for someone like myself who’s had a lot more
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experience it is quite bothersome 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 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 relevant but i make sure if you are a torah user and seeing this it can be irritating that perhaps one out of 10 stocks is in fact not 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
Just offered in 43 states
All U.S. citizens 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
If you wish to trade stocks and cryptocurrencies in the same place: Robinhood uses trading in stocks and choices, including fractional shares. In addition, it offers 7 different cryptocurrencies and charges no deal costs.