I’ve been using etoro for a number of years now and i have to state because my last etoro evaluation video the platform itself has altered a hell of a lot i believed what better chance with the new year to give a brand-new review on etoro talk about the great points the bad points and the things that etoro frantically needs to improve on if it is certainly 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 simply looking for a new brokerage account and etoro is a choice then this video is for you all i ask in return is if you discover this video helpful you gently 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 use i do have numerous accounts of them and i have used them for several years however i do feel there is many locations that etor frantically requires to enhance on if it is undoubtedly to compete and i’ll be quite severe in slamming them in this video i feel like it’s only fair as somebody who does use etoro on an everyday basis to give the sincere and harsh fact on the negative side as well as the positive side nevertheless overall i do have to say i am excessively happy with them and if you are looking for a second brokerage account or our brand-new investor i would just 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
remark and follow the steps there you do really get lifetime 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 outright mega giant of a broker over here in europe and they will release stock trading in the us which i feel will be the biggest video game changer for this business i have to say myself as someone who has actually worked in finance for over 15 years etoro are tackling it properly they are controlled in many different jurisdictions and they are broadening at the right rate making sure all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for example they are managed with the fca over in the uk sysek over in cyprus they’re controlled in australia and of course they are on the finra site over in the us as i stated u.s stock trading is coming soon however the truth that they are taking their time over in
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the us prior to they introduce stock trading over the in 2015 or two is actually an excellent sign for me because they’re making certain they don’t have a circumstance where they leave themselves open to claims or they screw up with regulation it seems every second week robin hood has some court case or some huge complaint they need to handle we have crypto brokers like binance over in the uk dealing with serious problem with the fca and the guideline there it seems that etoro are taking the best actions first prior to they launch ensuring that the clients are in the safest possible position and they don’t leave themselves open i have to say this is an excellent sign for a modern day brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern commission free platform more on that later going the best steps ensuring that all the eyes are dotted or the t’s are crossed before they open in any location they are actually working in this shows me that etoro is looking to stay for the long term and they have clear objectives of growing to be among the biggest brokerages in the world now the minimum amount needed to open an account does differ on where you are located on screen now you can see the minimums available however if you are from the us or the uk
the minimum to open an account is in fact ten dollars and a lot of other countries it’s just fifty dollars so you can go ahead 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 totally free brokerage but naturally brokers want to generate income so how the hell do they do that well the first apparent fee is if you take cash out of your account there’s a five dollars charge however to be honest that most likely gets involved deal charges 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 purchase a stock and when you sell a stock there’s a little distinction in between generally it’s just a really little fee which is called the spread that is the fee that etoro will potentially continue 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 somewhat greater cost and the simplest way of describing this is if you purchased say apple in this example on screen once in a while you quickly put it in your portfolio you will see a small loss on this trade week one day one minute one second one which percentage 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 approximately cost you to open stated trade however after using this platform for a long time when you close the trade as well there is a minor difference and what occurs here is etoro tends to calculate the distinction which is just 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 rather a lot of the time the fee that i get charged is a lot less than the preliminary cost that i had for opening the trade itself however this is the regular basic structure nowadays for a lot of brokers that provide 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 some of the other advanced platforms and you will get charged a repaired cost per trade but for me personally i believe for newer financiers especially this is a more affordable way of doing things now what does etoro need to provide well they offer stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and many many more assets like products and foreign exchange or currencies but having a platform that enables you to trade numerous sectors is certainly beneficial 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 offered with this platform and i feel in the modern day world we reside in currency commodities things of the sort are certainly more needed in brokerage houses specifically for the new investor however i did point out cfds though which is a contract for difference these are generally agreements that brokerage or other organizations can provide a customer to buy a company normally it’s a way of having a lot more take advantage of without actually owning any of the stock you are making a contract with stated organization now cfds are really not readily available to individuals in the us but they are readily available to individuals over in europe and in the uk however i need to say given the scariness of leverage and more than 60
of individuals trading cfds lose cash i just completely keep away from cfds particularly if you are a more recent or intermediate investor and on that also just stay away from utilize 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 people tend to like the most we need to talk about the stocks etfs and products now this is the biggest issue etoro has in my viewpoint and they are taking a look at altering this really very soon in fact i think it is among 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 including them at a reasonably sluggish rate they do not wish to add every cent stock under the sun that nobody’s really trading like i said they make their cash 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 individual’s trading every single day they’re not going to make that much money so they are just including stocks that they feel that an advantageous and b well less risky i in fact see this as a little 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 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 actually spoken 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 might not even be that relevant however i make certain if you are a torah user and enjoying this it can be bothersome 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 really soon now the two most popular things on etoro is the popular investing and the social platform program
Just offered in 43 states
All U.S. citizens can register for a virtual trading account. However, there are just 43 states (along with Washington D.C. and the Northern Mariana Islands) where you can use real money to buy and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee customers presently can not trade with eToro. The company aims to have 50-state availability ultimately. Up until then, some traders will have to look elsewhere.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the same location: Robinhood provides trading in stocks and choices, consisting of fractional shares. In addition, it uses 7 different cryptocurrencies and charges no deal costs.