so i have actually been using etoro for several years now…Etoro Vietnam… and i have to say considering that my last etoro evaluation video the platform itself has changed a hell of a lot i believed what much better chance with the brand-new year to provide a new evaluation on etoro talk about the assets the bad points and the things that etoro desperately requires to improve 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 brand-new to investing or are just trying to find a brand-new brokerage account and etoro is an option then this video is for you all i ask in return is if you discover this video beneficial you carefully tap that like button to assist me out with the youtube gods and without additional 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 utilized them for a number of years however i do feel there is lots of locations that etor frantically requires to improve on if it is certainly to contend and i’ll be rather harsh in criticizing them in this video i feel like it’s only fair as someone who does utilize etoro every day to give the honest and extreme fact on the negative side as well as the positive side however total 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 financier i would simply state jump in the minimums are quite low provide it a whirl and see if it fits your needs and if you do so through the affiliate link down on the pinned
comment and follow the actions there you do really get life time access to our lwt etoro discord so you can connect with other financiers straight even if you do open the account realize it’s not for you that chatroom 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 will introduce stock trading in the us which i feel will be the most significant video game changer for this business i have to state myself as somebody who has worked in finance for over 15 years etoro are tackling it the proper way they are controlled in various jurisdictions and they are expanding at the best speed ensuring all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for example they are controlled with the fca over in the uk sysek over in cyprus they’re regulated in australia and of course they are on the finra website over in the us as i said u.s stock trading is coming very soon nevertheless the fact that they are taking their time over in
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the us before they launch stock trading over the last year or so is really an excellent sign for me since they’re ensuring they don’t have a circumstance where they leave themselves open to claims or they ruin with regulation it appears every second week robin hood has some court case or some huge grievance they need to deal with we have crypto brokers like binance over in the uk dealing with serious difficulty with the fca and the guideline there it seems that etoro are taking the ideal actions first prior to they launch making certain that the clients are in the safest possible position and they do not leave themselves open i have to say this is a terrific sign for a contemporary brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern day commission complimentary platform more on that later going the ideal steps making certain that all the eyes are dotted or the t’s are crossed before they open in any area they are in fact operating in this shows me that etoro is aiming 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 needed to open an account does differ on where you lie on screen now you can see the minimums readily available but if you are from the us or the uk
the minimum to open an account is really 10 dollars and a great deal of other countries it’s just 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 stated etoro is a commission complimentary brokerage however naturally brokers wish to earn money so how the hell do they do that well the first obvious cost is if you take money out of your account there’s a 5 bucks fee however to be truthful that probably gets wrapped up in deal 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 the majority of brokers these days 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 distinction in between generally it’s just a really small cost and that is called the spread that is the cost that etoro will potentially keep this trade that’s how they generate income because they are not charging you a commission to open the trade they’re simply opening the trade at a slightly higher rate and the simplest method of describing this is if you bought state 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 second one and that portion loss is just how much it cost you to open that trade or you can even actually see the dollar and go fee of just how much it roughly cost you to open said trade nevertheless after utilizing this platform for a very long time when you close the trade as well there is a small distinction and what happens here is etoro tends to calculate 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 in fact do close a trade rather a great deal of the time the charge that i get charged is a lot less than the preliminary charge that i had for opening the trade itself but this is the typical standard structure nowadays for a great deal of brokers that offer commission open markets if you do not want to pay a spread you can go and open an interactive brokers account a saxo savings account or a few of the other advanced platforms and you will get charged a fixed fee per trade but for me personally i believe for newer financiers particularly this is a much cheaper way of doing things now what does etoro need to provide well they use stocks etfs cryptocurrency cfds more on that in just a second copy trading and many many more possessions like products and forex or currencies however having a platform that permits you to trade numerous sectors is definitely helpful for example you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is several elements offered with this platform and i feel in the modern world we reside in currency products things of the sort are absolutely more needed in brokerage houses specifically for the brand-new investor nevertheless i did discuss cfds though which is a contract for difference these are essentially agreements that brokerage or other institutions can use a client to buy a company usually it’s a method of having a lot more leverage without really owning any of the stock you are making an agreement with stated organization now cfds are really not offered to individuals in the us however they are available to people over in europe and in the uk however i have to state given the scariness of leverage and more than 60
of individuals trading cfds lose money i simply entirely stay away from cfds specifically if you are a more recent or intermediate financier and on that too just stay away from take advantage of it’s not really helpful for your portfolio now before we proceed to the two most popular things with etoro and things that people tend to like the most we require to talk about the stocks etfs and products now this is the greatest problem etoro has in my viewpoint and they are looking at changing this really soon in fact i think it is among their most significant 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 fairly sluggish rate they do not wish to add every penny stock under the sun that no one’s really trading like i said they make their money on the spread out so the more individuals trading a stock the more money they make if they included a low-cap cent stock that only one person’s trading each and every single day they’re not going to make that much cash so they are just adding stocks that they feel that a helpful and b well less dangerous i actually see this as a little bit of a positive for new investors although for someone like myself who’s had a lot more
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experience it is rather annoying that some of the stocks that i do wish to trade or at least look at and not on the platform now that stated i have actually talked to etoro on this and they have promised 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 may not even be that pertinent but i make certain if you are a torah user and enjoying this it can be irritating that maybe one out of 10 stocks is really not available on the platform so let’s hope etoro views this video and it alters extremely very soon now the two most popular things on etoro is the popular investing and the social platform program
Just 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 currently can not trade with eToro.
Alternatives to consider
If you wish to trade stocks and cryptocurrencies in the same location: Robinhood uses trading in stocks and alternatives, including fractional shares. In addition, it uses 7 different cryptocurrencies and charges no deal fees.