so i’ve been using etoro for a number of years now…How To Use Etoro Api In Excel… and i have to state because my last etoro evaluation video the platform itself has altered a hell of a lot i thought what much better chance with the brand-new year to provide a brand-new evaluation on etoro speak about the assets the bad points and the important things that etoro desperately requires to improve on if it is indeed to take on 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 alternative then this video is for you all i ask in return is if you discover this video useful you carefully 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 a number of accounts of them and i have actually utilized them for a number of years however i do feel there is numerous areas that etor desperately needs to improve on if it is certainly to complete and i’ll be rather severe in criticizing them in this video i feel like it’s only fair as somebody who does use etoro every day to offer the sincere and extreme truth on the unfavorable side along with the positive side however total i do need to state i am excessively pleased with them and if you are trying to find a second brokerage account or our 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 via the affiliate link down on the pinned
remark and follow the steps there you do actually get lifetime access to our lwt etoro discord so you can interact with other investors directly even if you do open the account recognize it’s not for you that chatroom 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 outright mega giant of a broker over here in europe and they will introduce stock trading in the us which i feel will be the most significant game changer for this business i have to state myself as someone who has worked in financing for over 15 years etoro are setting about it the right way they are managed in various jurisdictions and they are broadening at the right pace making certain all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for example they are regulated with the fca over in the uk sysek over in cyprus they’re regulated in australia and naturally they are on the finra website 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 prior to they release stock trading over the in 2015 or two is actually an excellent sign for me because they’re making sure they do not have a situation where they leave themselves open to suits or they mess up with policy it seems every second week robin hood has some court case or some huge problem they need to handle we have crypto brokers like binance over in the uk facing major problem with the fca and the guideline there it appears that etoro are taking the ideal steps first before they launch making sure that the customers remain in the safest possible position and they do not leave themselves open i have to say this is an excellent sign for a contemporary brokerage with an app unlike the old conventional saxo bank and interactive brokers a modern commission 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 area they are really working in this reveals me that etoro is wanting to remain 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 differ on where you lie 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 in fact 10 dollars and a great deal of other nations it’s only fifty dollars so you can proceed examine 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 said etoro is a commission free brokerage but obviously brokers want to earn money so how the hell do they do that well the first apparent fee is if you take money out of your account there’s a five bucks charge but to be truthful that most likely gets involved transaction 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 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 normally it’s simply a very small cost which is called the spread that is the charge that etoro will possibly 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 greater rate and the most convenient method of explaining this is if you bought state apple in this example on screen once in a while 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 actually see the dollar and go charge of 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 too there is a small distinction and what takes place here is etoro tends to determine the distinction and that is just how much they have actually made i have tracked this for a long time and seen that
when i actually do close a trade rather a lot of the time the cost that i get charged is a lot less than the preliminary cost that i had for opening the trade itself however this is the regular basic structure these days for a lot of brokers that provide commission open markets if you do not want 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 repaired charge per trade but for me personally i think for newer financiers specifically this is a more affordable method of doing things now what does etoro have to offer well they use stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and numerous many more possessions like commodities and foreign exchange or currencies but having a platform that permits you to trade multiple sectors is certainly advantageous 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 elements readily available with this platform and i feel in the modern day world we live in currency products things of the sort are definitely more needed in brokerage homes specifically for the new financier nevertheless i did point out cfds though which is a contract for distinction these are essentially contracts that brokerage or other institutions can provide a client to buy a business usually it’s a way of having a lot more take advantage of without in fact owning any of the stock you are earning an agreement with stated institution now cfds are in fact not available to people in the us but they are offered to individuals over in europe and in the uk however i have to say offered the scariness of utilize and more than 60
of people trading cfds lose money i simply totally keep away from cfds specifically if you are a newer or intermediate financier and on that too just stay away from leverage it’s not truly great for your portfolio now before we move on to the two most popular things with etoro and things that people tend to enjoy the most we need to discuss the stocks etfs and products now this is the biggest issue etoro has in my viewpoint and they are taking a look at altering this really 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 want to add every penny stock under the sun that nobody’s in fact trading like i said they make their money on the spread so the more people trading a stock the more money they make if they added in a low-cap penny stock that only one person’s trading every single day they’re not going to make that much money so they are only adding stocks that they feel that a helpful and b well less dangerous i in fact see this as a little a positive for new financiers although for somebody like myself who’s had a lot more
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experience it is quite bothersome that a few 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 spoken with etoro on this and they have actually guaranteed 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 appropriate however i’m sure if you are a torah user and seeing this it can be bothersome that maybe one out of 10 stocks is actually not readily available on the platform so let’s hope etoro sees this video and it changes really 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. homeowners can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee consumers currently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the same place: Robinhood offers trading in stocks and choices, including fractional shares. In addition, it provides 7 various cryptocurrencies and charges no deal costs.