so i’ve been using etoro for a number of years now…Is Ledger Nano S Compatible With Etoro… and i need to state since my last etoro evaluation video the platform itself has altered a hell of a lot i believed what better opportunity 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 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 a choice then this video is for you all i ask in return is if you find this video advantageous you carefully 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 wish to clarify etoro is not the sole brokerage account i use i do have several accounts of them and i have actually used them for numerous years however i do feel there is lots of locations that etor frantically requires to improve on if it is indeed to contend and i’ll be rather harsh in slamming them in this video i feel like it’s just reasonable as somebody who does utilize etoro daily to provide the honest and severe truth on the unfavorable side along with the positive side nevertheless total i do have to state i am overly pleased with them and if you are searching for a 2nd brokerage account or our brand-new investor i would just say jump in the minimums are quite low give it a whirl and see if it fits your requirements 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 life time access to our lwt etoro discord so you can communicate with other financiers straight even if you do open the account understand it’s not for you that chatroom 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 absolute mega giant of a broker over here in europe and they are about to launch stock trading in the us which i feel will be the greatest video game changer for this company i have to say myself as somebody who has worked in finance for over 15 years etoro are going about it the right way they are regulated in many different jurisdictions and they are broadening at the best speed 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 controlled in australia and of course they are on the finra site over in the us as i said u.s stock trading is coming 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 or so is in fact a great 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 regulation it seems every second week robin hood has some court case or some huge grievance they have to deal with we have crypto brokers like binance over in the uk facing serious problem with the regulation and the fca there it appears that etoro are taking the right actions first before they release making certain that the customers remain in the safest possible position and they do not leave themselves open i need to say this is an excellent sign for a contemporary brokerage with an app unlike the old conventional saxo bank and interactive brokers a contemporary commission complimentary platform more on that later going the right actions ensuring that all the eyes are dotted or the t’s are crossed before they open in any location they are in fact working in this shows me that etoro is looking to remain for the long term and they have clear aims of growing to be one of the biggest brokerages in the world now the minimum amount needed to open an account does vary on where you lie 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 in fact ten dollars and a great deal of other nations it’s just fifty dollars so you can go ahead 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 said etoro is a commission free brokerage but obviously brokers wish to make 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 dollars charge but to be truthful that most likely gets involved transaction costs and he toro most likely doesn’t see that much of it the method they make their money is on something called a spread if you go onto many 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 usually it’s simply an extremely small fee which is called the spread that is the charge that etoro will potentially keep on 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 simply opening the trade at a somewhat greater rate and the most convenient way of explaining this is if you bought state apple in this example on screen now and then you immediately put it in your portfolio you will see a minor loss on this trade week one day one minute one 2nd one which percentage loss is just how much it cost you to open that trade or you can even actually see the dollar and go fee of just how much it approximately cost you to open stated trade nevertheless after using this platform for a long period of time when you close the trade also there is a small distinction and what occurs here is etoro tends to calculate the distinction and that is how much they’ve 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 fee 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 basic structure these days for a lot of brokers that use commission free trades if you do not 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 especially this is a more affordable method of doing things now what does etoro need to use well they provide stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and lots of much more properties like products and forex 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 several elements readily available with this platform and i feel in the contemporary world we reside in currency commodities things of the sort are definitely more required in brokerage houses specifically for the new financier however i did discuss cfds though which is a contract for distinction these are essentially contracts that brokerage or other institutions can provide a customer to purchase a business usually it’s a way of having a lot more take advantage of without actually owning any of the stock you are earning an agreement with said institution now cfds are actually not readily available to people in the us however they are available to people over in europe and in the uk but i have to say provided the scariness of leverage and more than 60
of people trading cfds lose money i just completely keep away from cfds specifically if you are a newer or intermediate financier and on that also simply keep away from take advantage of it’s not actually great for your portfolio now before we proceed to the two most popular things with etoro and things that people tend to love the most we need to talk about the stocks etfs and commodities now this is the greatest issue etoro has in my opinion and they are taking a look at changing this very very soon in fact i think 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 including them at a relatively slow rate they do not wish to add every cent stock under the sun that nobody’s actually 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 included a low-cap cent stock that only one person’s trading every day they’re not going to make that much cash so they are just including stocks that they feel that a beneficial and b well less dangerous i actually see this as a little a positive for brand-new financiers although for somebody like myself who’s had a lot more
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experience it is quite irritating that a few of the stocks that i do wish to trade or at least take a look at and not on the platform now that said i have spoken to 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 pertinent but i’m sure if you are a torah user and watching this it can be frustrating that perhaps one out of 10 stocks is actually not readily available on the platform so let’s hope etoro watches this video and it alters extremely 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. 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 same location: Robinhood offers trading in stocks and choices, including fractional shares. In addition, it provides 7 various cryptocurrencies and charges no transaction costs.