I have actually been using etoro for a number of years now and i have to say because my last etoro review video the platform itself has changed a hell of a lot i believed what much better opportunity with the new year to give a new evaluation on etoro talk about the good points the bad points and the things that etoro desperately requires to improve on if it is indeed 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 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 find this video beneficial you carefully tap that like button to assist me out with the youtube gods and without more ado let’s get on with the video so right off the bat i desire to clarify etoro is not the sole brokerage account i utilize i do have numerous accounts of them and i have used them for numerous years however i do feel there is many areas that etor desperately needs to enhance on if it is undoubtedly to contend and i’ll be rather extreme in slamming them in this video i feel like it’s just reasonable as somebody who does use etoro on a daily basis to give the sincere and extreme truth on the negative side as well as the favorable side however overall i do have to state i am excessively pleased with them and if you are looking for a 2nd brokerage account or our brand-new financier i would just say jump in the minimums are rather low give it a whirl and see if it fits your requirements and if you do so through the affiliate link down on the pinned
comment and follow the actions there you do in fact get life time access to our lwt etoro discord so you can interact with other investors directly even if you do open the account realize it’s not for you that chatroom is readily offered for you simply follow the steps down on the pinned comments 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 game changer for this business i need to say myself as someone who has worked in financing for over 15 years etoro are setting about it the right way they are managed in several jurisdictions and they are expanding at the ideal rate 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 controlled in australia and naturally they are on the finra website over in the us as i stated u.s stock trading is coming very soon however the truth that they are taking their time over in
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the us prior to they release stock trading over the in 2015 approximately is really an excellent sign for me since they’re making sure they do not have a circumstance 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 complaint they need to deal with we have crypto brokers like binance over in the uk dealing with major trouble with the fca and the policy there it seems that etoro are taking the best actions initially before they introduce ensuring that the customers are in the safest possible position and they do not leave themselves open i have to say this is a great sign for a modern day brokerage with an app unlike the old conventional saxo bank and interactive brokers a modern day commission free platform more on that later going the best actions making certain that all the eyes are dotted or the t’s are crossed before they open in any area they are actually operating in this reveals me that etoro is aiming 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 required to open an account does vary on where you are located on screen now you can see the minimums readily available but 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 ahead check 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 said etoro is a commission totally free brokerage but naturally brokers want to earn money so how the hell do they do that well the first obvious fee is if you take money out of your account there’s a five bucks cost but to be honest that most likely gets wrapped up in deal costs and he toro most likely doesn’t see that much of it the way they make their cash is on something called a spread if you go onto a lot of brokers nowadays 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 typically it’s just a very small charge which is called the spread that is the fee that etoro will potentially keep this trade that’s how they make money due to the fact that they are not charging you a commission to open the trade they’re just opening the trade at a slightly greater rate and the most convenient method of explaining this is if you bought say apple in this example on screen now and then 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 really see the dollar and go charge of how much it roughly cost you to open stated trade however after utilizing this platform for a very long time when you close the trade also there is a minor difference and what occurs here is etoro tends to calculate the difference which is how much they have actually made i have actually tracked this for a long time and seen that
when i really do close a trade rather a lot of the time the charge that i get charged is a lot less than the initial fee that i had for opening the trade itself however this is the typical standard structure nowadays for a lot of brokers that offer commission open markets if you do not wish to pay a spread you can go and open an interactive brokers account a saxo savings account or a few of the other more advanced platforms and you will get charged a fixed fee per trade but for me personally i think for newer financiers especially this is a much cheaper method of doing things now what does etoro need to use well they provide stocks etfs cryptocurrency cfds more on that in just a second copy trading and many much more assets like commodities and forex or currencies but having a platform that enables you to trade several sectors is certainly helpful for example you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is many different 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 brand-new investor nevertheless i did mention cfds though which is a contract for distinction these are essentially agreements that brokerage or other organizations can use a customer to buy a business generally it’s a way of having a lot more take advantage of without in fact owning any of the stock you are making a contract with stated organization now cfds are actually not readily available to people in the us however they are available to individuals over in europe and in the uk however i have to say provided the scariness of take advantage of and more than 60
of people trading cfds lose money i simply totally stay away from cfds specifically if you are a newer or intermediate financier and on that too just keep away from take advantage of it’s not actually great for your portfolio now prior to we move on to the two most popular things with etoro and things that people tend to love the most we require to discuss the stocks etfs and products now this is the greatest problem etoro has in my opinion and they are looking at changing this extremely soon in fact i think it’s one of their most significant objectives for 2022. now although etoro tends to have most the stocks that you wish to trade or etfs they don’t have them all and they are including them at a reasonably slow rate they do not want to add every penny stock under the sun that no one’s in fact trading like i stated they make their money on the spread out so the more individuals trading a stock the more money they make if they included a low-cap cent stock that only one person’s trading every single 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 risky i in fact see this as a little 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 annoying that some of the stocks that i do wish to trade or a minimum of look at and not on the platform now that stated i have spoken with etoro on this and they have actually 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 may not even be that relevant but i make certain if you are a torah user and viewing this it can be frustrating that maybe one out of 10 stocks is really not readily available on the platform so let’s hope etoro enjoys this video and it alters very soon now the two most popular things on etoro is the popular investing and the social platform program
Just available in 43 states
All U.S. locals can register for a virtual trading account. There are only 43 states (along with Washington D.C. and the Northern Mariana Islands) where you can use real money to purchase and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee consumers currently can not trade with eToro. The business intends to have 50-state availability ultimately. Up until then, some traders will need to look in other places.
Alternatives to consider
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 uses 7 various cryptocurrencies and charges no transaction costs.