so i’ve been utilizing etoro for a number of years now…Para Que Sirve La Aplicacion Etoro… and i need to state given that my last etoro review video the platform itself has changed a hell of a lot i thought what better opportunity with the new year to give a brand-new evaluation on etoro discuss the assets the bad points and the important things that etoro frantically needs to improve on if it is indeed to take on the likes of robin hood when it opens stock trading in the us so if you are brand-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 discover this video helpful 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 want 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 a number of years however i do feel there is numerous locations that etor desperately needs to improve on if it is certainly to compete and i’ll be rather harsh in slamming them in this video i feel like it’s only fair as someone who does utilize etoro daily to offer the harsh and sincere truth on the unfavorable side in addition to the positive side however general i do need to state i am overly pleased with them and if you are trying to find a 2nd brokerage account or our new investor i would just state jump in the minimums are quite low offer 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 steps there you do actually get lifetime access to our lwt etoro discord so you can communicate with other investors directly even if you do open the account recognize it’s not for you that chatroom is readily available 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 outright 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 state myself as somebody who has actually worked in finance for over 15 years etoro are going about it the proper way they are controlled in several jurisdictions and they are broadening at the best speed making certain all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for instance they are controlled with the fca over in the uk sysek over in cyprus they’re controlled in australia and obviously they are on the finra site over in the us as i stated u.s stock trading is coming soon however the reality that they are taking their time over in
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the us before they introduce stock trading over the in 2015 or so is really a great sign for me since they’re making sure they don’t have a situation where they leave themselves open to suits or they screw up with regulation it appears 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 serious problem with the guideline and the fca there it appears that etoro are taking the right actions first prior to they release ensuring that the customers remain in the safest possible position and they do not leave themselves open i need to say this is a fantastic 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 actions ensuring that all the eyes are dotted or the t’s are crossed before they open in any area they are in fact operating in this reveals me that etoro is seeking to stick around for the long term and they have clear goals of growing to be among the most significant brokerages on the planet now the minimum amount required to open an account does differ 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 ten dollars and a lot of other nations it’s only 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 totally free brokerage but naturally brokers want to earn money so how the hell do they do that well the first obvious cost 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 charges and he toro probably does not see that much of it the way they make their money is on something called a spread if you go onto the majority of brokers nowadays unless you’re getting charged a flat rate you will see that when you buy a stock and when you offer a stock there’s a little difference in between typically it’s just a very little cost which is called the spread that is the cost that etoro will possibly continue this trade that’s how they make 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 simplest method of explaining this is if you bought state apple in this example on screen once in a while you immediately put it in your portfolio you will see a small loss on this trade week one day one minute one 2nd one and that portion 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 very long time when you close the trade as well there is a small difference and what occurs here is etoro tends to determine the difference which is how much they’ve made i have tracked this for a long period of time and seen that
when i actually do close a trade quite a lot of the time the charge that i get charged is a lot less than the initial cost that i had for opening the trade itself but this is the normal basic structure nowadays for a lot of brokers that offer 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 a few of the other advanced platforms and you will get charged a fixed fee per trade but for me personally i believe for newer financiers particularly this is a much cheaper way of doing things now what does etoro have to provide well they offer stocks etfs cryptocurrency cfds more on that in simply a second copy trading and numerous a lot more assets like products and forex or currencies but having a platform that allows you to trade several sectors is definitely useful for instance you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is several aspects offered with this platform and i feel in the modern world we reside in currency commodities things of the sort are certainly more required in brokerage houses specifically for the new investor however i did discuss cfds though which is a contract for distinction these are generally contracts that brokerage or other organizations can offer a customer to buy a business typically it’s a way of having a lot more leverage without actually owning any of the stock you are earning a contract with said organization now cfds are actually not available to people in the us but they are readily available to people over in europe and in the uk but i have to say given the scariness of utilize and more than 60
of people trading cfds lose cash i just completely stay away from cfds specifically if you are a more recent or intermediate investor and on that also simply stay away from leverage it’s not truly helpful for your portfolio now before we proceed to the two most popular things with etoro and things that individuals tend to like the most we require to speak about the stocks etfs and commodities now this is the biggest problem etoro has in my opinion and they are looking at altering this really very soon in fact i think it is among their biggest objectives 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 sluggish rate they do not want to include every cent stock under the sun that nobody’s really trading like i stated they make their money on the spread so the more people trading a stock the more cash they make if they added in a low-cap cent stock that only one individual’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 risky i actually 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 rather frustrating that a few of the stocks that i do wish to trade or at least look at and not on the platform now that stated i have actually spoken with etoro on this and they have assured 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 make certain if you are a torah user and seeing this it can be frustrating that possibly one out of 10 stocks is really not readily available on the platform so let’s hope etoro views this video and it alters very very soon now the two most popular things on etoro is the popular investing and the social platform program
Only readily available in 43 states
All U.S. locals 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 place: Robinhood uses trading in stocks and choices, including fractional shares. In addition, it offers 7 different cryptocurrencies and charges no deal costs.