so i’ve been using etoro for several years now…How To Get Real Time Data On Etoro Paper Money… and i need to say because my last etoro evaluation video the platform itself has actually changed a hell of a lot i thought what much better chance with the new year to offer a new review on etoro talk about the good points the bad points and the things that etoro desperately requires to improve on if it is certainly to compete with the similarity robin hood when it opens stock trading in the us so if you are new to investing or are simply 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 discover this video advantageous you carefully 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 use i do have a number of accounts of them and i have used 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 indeed to compete and i’ll be quite extreme in slamming them in this video i feel like it’s just fair as someone who does use etoro on a daily basis to give the extreme and honest fact on the unfavorable side as well as the positive side however overall i do have to state i am excessively delighted with them and if you are searching for a 2nd brokerage account or our new financier i would simply say jump in the minimums are rather low provide it a try and see if it fits your requirements and if you do so through the affiliate link down on the pinned
remark and follow the actions there you do really get lifetime access to our lwt etoro discord so you can engage with other investors straight even if you do open the account understand it’s not for you that chat room is easily 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 absolute mega giant of a broker over here in europe and they will release stock trading in the us which i feel will be the greatest video game changer for this business i need to say myself as someone who has worked in financing for over 15 years etoro are going about it the proper way they are regulated in various jurisdictions and they are expanding at the best 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 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 website over in the us as i said u.s stock trading is coming soon however the fact that they are taking their time over in
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the us prior to they launch stock trading over the last year or two is actually a great sign for me due to the fact that they’re ensuring they don’t have a scenario where they leave themselves open to suits or they screw up with guideline it appears every second week robin hood has some court case or some big grievance they have to deal with we have crypto brokers like binance over in the uk dealing with serious difficulty with the policy and the fca there it appears that etoro are taking the best actions initially prior to they release making sure that the clients are in the safest possible position and they do not leave themselves open i have to state this is a great sign for a contemporary 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 prior to they open in any location they are really operating in this reveals me that etoro is wanting to stay for the long term and they have clear objectives of growing to be one of the greatest brokerages in the world now the minimum amount required to open an account does vary on where you are located on screen now you can see the minimums readily available however 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 go on check 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 stated etoro is a commission totally free brokerage however of course brokers wish to earn money so how the hell do they do that well the first apparent charge is if you take money out of your account there’s a 5 dollars cost however to be sincere that most likely gets involved deal charges 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 most brokers nowadays 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 difference in between typically it’s just a really small fee and that is called the spread that is the cost that etoro will potentially keep this trade that’s how they earn money since they are not charging you a commission to open the trade they’re just opening the trade at a somewhat greater price and the most convenient way of explaining this is if you purchased 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 2nd one and that percentage loss is just how much it cost you to open that trade or you can even really see the dollar and go cost of just how much it approximately cost you to open stated trade nevertheless after using this platform for a very long time when you close the trade also there is a minor difference and what happens here is etoro tends to determine the distinction and that is how much they have actually made i have tracked this for a very long time and seen that
when i actually do close a trade quite a great deal of the time the fee that i get charged is a lot less than the preliminary fee that i had for opening the trade itself however this is the normal standard structure these days for a great deal of brokers that use commission free trades if you don’t want to pay a spread you can go and open an interactive brokers account a saxo savings account or some of the other advanced platforms and you will get charged a fixed charge per trade but for me personally i think for newer investors particularly this is a much cheaper way of doing things now what does etoro have to offer well they provide stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and lots of much more properties like commodities and foreign exchange or currencies however having a platform that enables you to trade numerous 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 elements readily available with this platform and i feel in the modern world we live in currency commodities things of the sort are certainly more required in brokerage houses particularly for the new investor however i did mention cfds though which is a contract for difference these are generally agreements that brokerage or other institutions can use a customer to purchase a business usually it’s a way of having a lot more utilize without in fact owning any of the stock you are making a contract with said institution now cfds are actually not available to individuals in the us but they are offered to individuals over in europe and in the uk but i have to state given the scariness of take advantage of and more than 60
of people trading cfds lose cash i just totally keep away from cfds especially if you are a newer or intermediate investor and on that too simply keep away from utilize it’s not really helpful for your portfolio now prior to we move on to the two most popular things with etoro and things that people tend to like the most we need to speak about the stocks etfs and commodities now this is the biggest problem etoro has in my viewpoint and they are looking at altering this really very soon in fact i believe it is among 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 including them at a relatively slow rate they do not want to include every penny stock under the sun that no one’s in fact trading like i stated they make their cash on the spread out so the more people trading a stock the more money they make if they included a low-cap cent stock that only one individual’s trading each and every single day they’re not going to make that much cash so they are only adding stocks that they feel that an advantageous and b well less risky i actually see this as a little a favorable for 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 a minimum of take a look at and not on the platform now that stated i have actually talked 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 relevant however i make sure if you are a torah user and seeing this it can be frustrating that possibly one out of 10 stocks is really not offered on the platform so let’s hope etoro enjoys this video and it changes extremely soon now the two most popular things on etoro is the social platform and the popular investing program
Just readily 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 consumers presently can not trade with eToro.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the same place: Robinhood offers trading in stocks and choices, including fractional shares. In addition, it offers 7 various cryptocurrencies and charges no transaction fees.