so i have actually been utilizing etoro for several years now…Etoro Ucits Etf… and i have to state because my last etoro evaluation video the platform itself has changed a hell of a lot i believed what better chance with the brand-new year to offer a new evaluation on etoro talk about the good points the bad points and the things that etoro desperately needs to improve on if it is undoubtedly to take on the likes of robin hood when it opens stock trading in the us so if you are brand-new to investing or are just searching 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 advantageous you gently 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 want to clarify etoro is not the sole brokerage account i utilize i do have numerous accounts of them and i have used them for several years however i do feel there is many areas that etor frantically requires to improve on if it is indeed to complete and i’ll be quite extreme in slamming them in this video i feel like it’s only reasonable as someone who does use etoro on a daily basis to offer the extreme and truthful fact on the negative side in addition to the positive side nevertheless overall i do need to say i am excessively pleased with them and if you are looking for a 2nd brokerage account or our new investor i would simply 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 steps there you do really get life time access to our lwt etoro discord so you can connect with other investors directly even if you do open the account understand it’s not for you that chat room is readily offered 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 launch stock trading in the us which i feel will be the greatest game changer for this company i need to say myself as somebody who has worked in financing for over 15 years etoro are going about it the proper way they are managed in various jurisdictions and they are broadening at the ideal speed ensuring 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 managed in australia and of course they are on the finra site over in the us as i said u.s stock trading is coming 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 in 2015 or so is in fact an excellent sign for me because they’re making sure they do not have a scenario where they leave themselves open to claims or they screw up with regulation it seems every second week robin hood has some lawsuit or some huge grievance they have to deal with we have crypto brokers like binance over in the uk dealing with major problem with the guideline and the fca there it appears that etoro are taking the right steps initially prior to they launch making sure that the customers are in the best possible position and they don’t leave themselves open i need to state this is a fantastic sign for a modern brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern commission totally free platform more on that later going the right actions making sure that all the eyes are dotted or the t’s are crossed prior to they open in any location they are really operating in this reveals me that etoro is looking to remain for the long term and they have clear goals of growing to be among the greatest brokerages on the planet now the minimum amount required to open an account does differ on where you lie on screen now you can see the minimums available but if you are from the us or the uk
the minimum to open an account is in fact 10 dollars and a lot of other nations it’s only fifty dollars so you can go ahead inspect 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 but of course brokers want to generate income so how the hell do they do that well the very first apparent cost is if you take cash out of your account there’s a five dollars fee but to be honest that most likely gets wrapped up in transaction fees and he toro probably does not see that much of it the method they make their money is on something called a spread if you go onto many 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 simply an extremely little fee which is called the spread that is the cost that etoro will possibly 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 somewhat greater cost and the easiest way of describing this is if you bought say apple in this example on screen now and then you immediately put it in your portfolio you will see a minor loss on this trade week one day one minute one 2nd one which portion loss is how much it cost you to open that trade or you can even in fact go and see the dollar charge of just how much it approximately cost you to open said trade nevertheless after using this platform for a long period of time when you close the trade also there is a minor distinction and what happens here is etoro tends to calculate the difference and that is how much they’ve made i have actually tracked this for a long period of time and seen that
when i really do close a trade quite a lot of the time the cost that i get charged is a lot less than the initial cost that i had for opening the trade itself however this is the typical basic structure these days 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 checking account or some of the other more advanced platforms and you will get charged a fixed fee per trade but for me personally i think for newer investors particularly this is a more affordable method of doing things now what does etoro have to provide well they use stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and many many more properties like commodities 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 might likewise short the japanese yen and go long into gold there is several aspects readily available with this platform and i feel in the modern day world we live in currency commodities things of the sort are certainly more required in brokerage houses especially for the new investor however i did point out cfds though which is a contract for distinction these are basically agreements that brokerage or other institutions can provide a client to purchase a company normally it’s a method of having a lot more take advantage of without in fact owning any of the stock you are earning an agreement with stated 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 need to state given the scariness of leverage and more than 60
of people trading cfds lose cash i simply entirely stay 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 helpful for your portfolio now before we move on to the two most popular things with etoro and things that individuals tend to enjoy the most we require to talk about the stocks etfs and products now this is the greatest problem etoro has in my opinion and they are taking a look at altering this very very soon in fact i believe it’s one of their biggest objectives 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 relatively sluggish rate they do not wish to add every penny stock under the sun that nobody’s actually trading like i said they make their money on the spread out so the more people trading a stock the more cash they make if they included a low-cap cent stock that only one person’s trading every day they’re not going to make that much cash so they are only including stocks that they feel that a helpful and b well less risky i really see this as a bit of a favorable for brand-new financiers although for someone like myself who’s had a lot more
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experience it is quite bothersome that some of the stocks that i do wish to trade or a minimum of take a look at and not on the platform now that stated i have actually talked to etoro on this and they have 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 may not even be that pertinent but i’m sure if you are a torah user and enjoying 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 enjoys this video and it changes very soon now the two most popular things on etoro is the popular investing and the social platform program
Only readily 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 customers presently can not trade with eToro.
Alternatives to consider
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 uses 7 various cryptocurrencies and charges no transaction costs.