so i have actually been utilizing etoro for a number of years now…How Many Day Trades Can I Do On Etoro… and i have to say because my last etoro evaluation video the platform itself has actually changed a hell of a lot i thought what much better opportunity with the new year to give a brand-new evaluation on etoro talk about the good points the bad points and the important things that etoro frantically needs to improve on if it is indeed 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 simply searching for a 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 beneficial you gently 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 numerous accounts of them and i have used them for a number of years nevertheless i do feel there is many locations that etor desperately requires to improve on if it is indeed to compete and i’ll be quite severe in criticizing them in this video i seem like it’s only reasonable as someone who does use etoro on a daily basis to provide the honest and extreme fact on the negative side along with the positive side nevertheless overall i do have to say i am overly happy with them and if you are trying to find a 2nd brokerage account or our new financier i would just state jump in the minimums are rather low give it a whirl and see if it fits your needs and if you do so by means of the affiliate link down on the pinned
comment and follow the steps there you do in fact get life time access to our lwt etoro discord so you can connect with other investors directly even if you do open the account realize it’s not for you that chat room is readily available 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 are about to launch stock trading in the us which i feel will be the most significant game changer for this business i need to say myself as someone who has worked in finance for over 15 years etoro are going about it the proper way they are regulated in several 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 naturally they are on the finra site over in the us as i said u.s stock trading is coming very soon nevertheless the truth that they are taking their time over in
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the us before they launch stock trading over the last year or two is actually a great sign for me because they’re making sure they do not have a scenario where they leave themselves open to lawsuits or they ruin with guideline it seems every second week robin hood has some lawsuit or some huge problem they need to handle we have crypto brokers like binance over in the uk facing major trouble with the policy and the fca there it appears that etoro are taking the right steps first before they release making certain that the customers remain in the best possible position and they don’t leave themselves open i need to state this is a terrific sign for a modern day brokerage with an app unlike the old standard saxo bank and interactive brokers a modern commission complimentary platform more on that later going the ideal steps ensuring that all the eyes are dotted or the t’s are crossed before they open in any location they are really operating in this shows me that etoro is looking to remain for the long term and they have clear aims of growing to be one of the most significant brokerages on the planet now the minimum quantity needed to open an account does vary 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 great deal of other nations it’s just fifty dollars so you can proceed 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 wish to earn money so how the hell do they do that well the first apparent cost is if you take cash out of your account there’s a 5 bucks cost but to be honest that most likely gets wrapped up in transaction fees and he toro probably doesn’t see that much of it the way they make their money is on something called a spread if you go onto a lot of brokers these days unless you’re getting charged a flat rate you will see that when you purchase a stock and when you offer a stock there’s a little distinction in between normally it’s just a really small fee and that is called the spread that is the charge that etoro will potentially keep on this trade that’s how they make money since they are not charging you a commission to open the trade they’re simply opening the trade at a slightly higher cost and the most convenient way of explaining this is if you bought say apple in this example on screen from time to time you instantly 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 how much it cost you to open that trade or you can even really drop in the dollar charge of how much it roughly cost you to open said trade however after utilizing this platform for a long period of time when you close the trade as well there is a slight distinction and what takes place here is etoro tends to determine the distinction and that 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 quite a lot of the time the fee that i get charged is a lot less than the initial charge that i had for opening the trade itself however this is the normal basic structure these days for a lot of brokers that offer commission open markets if you don’t wish to pay a spread you can go and open an interactive brokers account a saxo checking account or a few of the other more advanced platforms and you will get charged a fixed cost per trade but for me personally i believe for more recent investors particularly this is a much cheaper way of doing things now what does etoro have to offer well they offer stocks etfs cryptocurrency cfds more on that in simply a second copy trading and many a lot more possessions like commodities and foreign exchange or currencies however having a platform that allows you to trade multiple sectors is certainly useful for example you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is various aspects available with this platform and i feel in the modern day world we live in currency products things of the sort are absolutely more required in brokerage homes particularly for the new investor nevertheless i did discuss cfds though which is a contract for difference these are essentially contracts that brokerage or other institutions can use a client to buy a business normally it’s a way of having a lot more take advantage of without actually owning any of the stock you are earning a contract with stated organization now cfds are in fact not available to individuals in the us however they are available to individuals over in europe and in the uk however i need to say given the scariness of utilize and more than 60
of individuals trading cfds lose cash i just entirely stay away from cfds particularly if you are a newer or intermediate investor and on that as well simply keep away from utilize it’s not actually helpful for your portfolio now before we move on to the two most popular things with etoro and things that individuals tend to like the most we require to talk about the stocks etfs and commodities now this is the greatest issue etoro has in my opinion and they are looking at changing this extremely very soon in fact i believe it’s one of their greatest goals 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 relatively slow rate they do not wish to add every penny stock under the sun that nobody’s really trading like i said they make their money on the spread 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 money so they are just adding stocks that they feel that a helpful and b well less dangerous i really see this as a little bit of a favorable for brand-new investors although for someone like myself who’s had a lot more
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experience it is rather frustrating that some 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 spoken to etoro on this and they have guaranteed 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 appropriate however i’m sure if you are a torah user and enjoying this it can be frustrating that maybe one out of 10 stocks is actually not offered on the platform so let’s hope etoro watches this video and it alters very very soon now the two most popular things on etoro is the social platform and the popular investing program
Only offered 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 consumers presently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the very same place: Robinhood provides trading in stocks and options, including fractional shares. In addition, it uses 7 various cryptocurrencies and charges no deal charges.