so i’ve been using etoro for numerous years now…How To Backtest An Indicator On Etoro… and i need to state since my last etoro evaluation video the platform itself has altered a hell of a lot i thought what much better chance with the new year to provide a 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 certainly to take on the similarity 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 alternative then this video is for you all i ask in return is if you find this video helpful you gently tap that like button to assist 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 utilize i do have several accounts of them and i have actually used them for numerous years nevertheless i do feel there is numerous areas that etor desperately needs to improve on if it is undoubtedly to compete and i’ll be quite harsh in slamming them in this video i seem like it’s just fair as someone who does use etoro daily to give the honest and extreme truth on the negative side as well as the positive side nevertheless total i do have to state i am excessively pleased with them and if you are searching for a second brokerage account or our new financier i would simply state jump in the minimums are quite low offer it a try and see if it fits your needs and if you do so by means of the affiliate link down on the pinned
remark and follow the steps there you do in fact get lifetime access to our lwt etoro discord so you can communicate with other investors directly even if you do open the account understand it’s not for you that chat room is readily available 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 are about to release 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 operated in finance for over 15 years etoro are setting about it the right way they are regulated in several jurisdictions and they are broadening at the ideal 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 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 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 so is really an excellent sign for me due to the fact that they’re ensuring they do not have a circumstance where they leave themselves open to suits or they ruin with guideline it appears every second week robin hood has some court case or some big grievance they have to handle we have crypto brokers like binance over in the uk facing severe problem with the fca and the regulation there it seems that etoro are taking the right actions first before they introduce ensuring that the clients remain in the best possible position and they don’t leave themselves open i need 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 day commission totally free platform more on that later going the right steps making sure that all the eyes are dotted or the t’s are crossed prior to they open in any location they are actually operating in this reveals me that etoro is seeking to stay for the long term and they have clear goals of growing to be among the biggest brokerages in the world now the minimum amount needed to open an account does vary on where you are located 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 ten dollars and a great deal of other countries it’s only fifty dollars so you can go on inspect this link it will remain in the description and see how much it costs to open an account with etoro in your jurisdiction now like i said etoro is a commission free brokerage however obviously brokers want to make money so how the hell do they do that well the first obvious cost is if you take cash out of your account there’s a 5 bucks charge however to be truthful that most likely gets wrapped up in deal 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 the majority of brokers nowadays 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 difference in between normally it’s just a very little fee which is called the spread that is the cost that etoro will possibly keep on this trade that’s how they earn money since they are not charging you a commission to open the trade they’re simply opening the trade at a somewhat greater price and the simplest way of describing 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 minor loss on this trade week one day one minute one second one which portion loss is just how much it cost you to open that trade or you can even in fact see the dollar and go charge of how much it approximately cost you to open stated trade nevertheless after using this platform for a long time when you close the trade also there is a minor difference and what takes place here is etoro tends to determine the distinction which is how much they’ve made i have tracked this for a long time and seen that
when i in fact do close a trade quite a great deal 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 but this is the typical standard structure nowadays for a great deal 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 bank account or some 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 especially 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 lots of many more possessions like commodities and forex or currencies however having a platform that allows you to trade multiple sectors is certainly advantageous 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 readily available with this platform and i feel in the contemporary world we live in currency commodities things of the sort are absolutely more needed in brokerage houses particularly for the brand-new financier nevertheless i did discuss cfds though which is a contract for distinction these are generally contracts that brokerage or other organizations can offer a client to buy a company generally it’s a way of having a lot more take advantage of without really owning any of the stock you are making a contract with said institution now cfds are really not readily available to people in the us but they are readily available to individuals over in europe and in the uk however i have to say given the scariness of leverage and more than 60
of people trading cfds lose money i just totally stay away from cfds specifically if you are a newer or intermediate investor and on that too just stay away from leverage it’s not truly good for your portfolio now prior to we carry on to the two most popular things with etoro and things that people tend to love the most we need to discuss the stocks etfs and commodities now this is the greatest problem etoro has in my opinion and they are looking at changing this very very soon in fact i believe it is among 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 reasonably 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 added in a low-cap penny stock that only one individual’s trading every day they’re not going to make that much money so they are only including stocks that they feel that a beneficial and b well less risky i in fact see this as a little a positive for new investors although for somebody 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 at least look at and not on the platform now that stated i have actually spoken to etoro on this and they have actually 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 however i make certain if you are a torah user and watching this it can be irritating that perhaps one out of 10 stocks is actually not offered on the platform so let’s hope etoro watches this video and it alters really 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 exact same place: Robinhood uses trading in stocks and options, including fractional shares. In addition, it provides 7 various cryptocurrencies and charges no deal charges.