so i have actually been using etoro for a number of years now…How To Backtest Trading Strategy Etoro… and i have to state because my last etoro evaluation video the platform itself has actually altered a hell of a lot i thought what much better opportunity with the brand-new year to give a brand-new evaluation on etoro speak about the assets the bad points and the important things that etoro frantically 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 new to investing or are just trying to find 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 advantageous you gently tap that like button to help me out with the youtube gods and without more ado let’s get on with the video so right off the bat i wish to clarify etoro is not the sole brokerage account i use i do have numerous accounts of them and i have utilized them for several years however i do feel there is numerous areas that etor frantically needs to improve on if it is indeed to compete and i’ll be quite extreme in criticizing them in this video i feel like it’s only fair as somebody who does use etoro every day to give the extreme and honest truth on the negative side along with the positive side nevertheless general i do have to say i am extremely pleased with them and if you are trying to find a second brokerage account or our new investor i would simply say jump in the minimums are quite low provide it a whirl and see if it fits your needs and if you do so via the affiliate link down on the pinned
comment and follow the actions there you do in fact get lifetime access to our lwt etoro discord so you can connect with other financiers straight even if you do open the account understand it’s not for you that chatroom is readily offered for you just 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 launch stock trading in the us which i feel will be the biggest video game changer for this company i need to state myself as somebody who has worked in finance for over 15 years etoro are setting about it the right way they are regulated in various jurisdictions and they are broadening at the ideal pace making sure all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for example they are managed with the fca over in the uk sysek over in cyprus they’re regulated in australia and obviously they are on the finra website over in the us as i stated 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 release stock trading over the in 2015 or two is in fact a good sign for me due to the fact that they’re ensuring they don’t have a situation where they leave themselves open to lawsuits or they screw up with guideline it seems every second week robin hood has some lawsuit or some huge problem they need to deal with 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 steps first prior to they release ensuring that the customers are in the most safe possible position and they don’t leave themselves open i have to state this is a fantastic sign for a contemporary brokerage with an app unlike the old standard saxo bank and interactive brokers a modern commission complimentary platform more on that later going the right steps ensuring 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 aiming to remain for the long term and they have clear goals of growing to be among the greatest 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 but if you are from the us or the uk
the minimum to open an account is really 10 dollars and a lot of other nations it’s just fifty dollars so you can go ahead inspect 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 totally free brokerage but of course brokers want to make 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 five bucks cost but to be honest that probably gets involved deal fees and he toro most likely does not 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 buy a stock and when you sell a stock there’s a little difference in between generally it’s just a very little cost which is called the spread that is the fee that etoro will potentially keep on this trade that’s how they generate income due to the fact that they are not charging you a commission to open the trade they’re simply opening the trade at a slightly higher price and the simplest method of describing this is if you purchased say apple in this example on screen from time to time you immediately put it in your portfolio you will see a small loss on this trade week one day one minute one second 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 however after utilizing this platform for a long period of time when you close the trade also there is a small difference and what occurs here is etoro tends to determine the difference which is just how much they’ve made i have actually tracked this for a very long time and seen that
when i in fact do close a trade rather a great deal of the time the cost that i get charged is a lot less than the preliminary fee that i had for opening the trade itself but this is the normal standard structure nowadays for a great deal of brokers that provide commission free trades if you don’t wish 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 repaired fee per trade but for me personally i believe for newer financiers specifically this is a more affordable 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 numerous much more possessions like products and foreign exchange or currencies but having a platform that permits you to trade several sectors is certainly advantageous 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 elements available with this platform and i feel in the contemporary world we live in currency commodities things of the sort are definitely more needed in brokerage homes especially for the brand-new financier nevertheless i did point out cfds though which is a contract for distinction these are basically agreements that brokerage or other institutions can use a client to purchase a business generally it’s a method of having a lot more leverage without in fact owning any of the stock you are earning an agreement with stated institution now cfds are really not readily available to people in the us however they are offered to individuals over in europe and in the uk but i have to say provided the scariness of utilize and more than 60
of individuals trading cfds lose cash i just totally keep away from cfds specifically if you are a newer or intermediate financier and on that as well simply keep away from utilize it’s not truly good 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 need to discuss the stocks etfs and commodities now this is the biggest problem etoro has in my viewpoint and they are taking a look at changing this very 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 wish to trade or etfs they do not have them all and they are adding them at a relatively slow rate they do not want to add every cent stock under the sun that no one’s really trading like i said they make their money on the spread out so the more people trading a stock the more money they make if they added in a low-cap cent stock that only one individual’s trading every day they’re not going to make that much cash so they are just adding stocks that they feel that a beneficial and b well less dangerous i in fact see this as a bit of a positive for brand-new financiers although for somebody 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 a minimum of take a look at and not on the platform now that stated i have 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 might not even be that relevant but i make sure if you are a torah user and seeing this it can be irritating that perhaps one out of 10 stocks is actually not readily available on the platform so let’s hope etoro sees this video and it changes very very soon now the two most popular things on etoro is the social platform and the popular investing program
Only readily available in 43 states
All U.S. citizens 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 think about
If you want 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 transaction charges.