I’ve been using etoro for a number of years now and i have to state considering that my last etoro evaluation video the platform itself has actually changed a hell of a lot i believed what much better opportunity with the new year to offer a new evaluation on etoro talk about the excellent points the bad points and the things that etoro desperately needs to improve on if it is indeed to contend 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 an option 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 help me out with the youtube gods and without additional 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 utilize 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 areas that etor frantically needs to enhance on if it is certainly to compete and i’ll be rather severe in criticizing them in this video i feel like it’s only reasonable as somebody who does utilize etoro on a day-to-day basis to give the truthful and severe truth on the unfavorable side as well as the positive side nevertheless overall i do have to state i am extremely delighted with them and if you are looking for a 2nd brokerage account or our new financier i would just state jump in the minimums are rather low give it a try and see if it fits your needs and if you do so by means of 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 financiers directly even if you do open the account recognize it’s not for you that chatroom is readily available for you simply 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 biggest video game changer for this company i have to state myself as somebody who has operated in financing for over 15 years etoro are setting about it the proper way they are regulated in many different jurisdictions and they are expanding at the right pace making sure 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 regulated in australia and obviously they are on the finra site over in the us as i said u.s stock trading is coming soon nevertheless the fact that they are taking their time over in
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the us before they introduce stock trading over the last year or two is really a great sign for me due to the fact that they’re making sure they do not have a situation where they leave themselves open to lawsuits or they mess up with regulation it appears every second week robin hood has some lawsuit or some big complaint they need to handle we have crypto brokers like binance over in the uk facing severe problem with the guideline and the fca there it appears that etoro are taking the right actions initially prior to they introduce making sure that the clients remain in the safest possible position and they don’t leave themselves open i need to say this is a terrific sign for a contemporary brokerage with an app unlike the old traditional saxo bank and interactive brokers a contemporary 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 area they are really operating in this shows me that etoro is wanting to stick around for the long term and they have clear aims of growing to be among the greatest brokerages on the planet now the minimum quantity required to open an account does differ on where you are located on screen now you can see the minimums available however if you are from the us or the uk
the minimum to open an account is actually ten dollars and a lot of other countries 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 stated etoro is a commission free brokerage but naturally brokers want to make 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 5 bucks fee but to be honest that probably gets involved transaction fees and he toro probably does not see that much of it the method they make their cash 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 generally it’s just a very small fee which is called the spread that is the fee 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 just opening the trade at a somewhat greater rate and the most convenient way of describing this is if you bought state apple in this example on screen once in a while you quickly put it in your portfolio you will see a slight loss on this trade week one day one minute one second one and that percentage loss is just how much it cost you to open that trade or you can even really go and see the dollar cost of just how much it roughly 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 minor difference and what occurs here is etoro tends to calculate the distinction and that is how much they have actually made i have actually tracked this for a very long time and seen that
when i in fact do close a trade quite a great deal of the time the fee that i get charged is a lot less than the preliminary charge that i had for opening the trade itself however this is the regular basic structure these days for a great deal of brokers that provide commission open markets if you don’t want to pay a spread you can go and open an interactive brokers account a saxo checking account or some of the other advanced platforms and you will get charged a repaired cost per trade but for me personally i believe for more recent investors particularly this is a much cheaper method of doing things now what does etoro need to use well they use stocks etfs cryptocurrency cfds more on that in simply a second copy trading and numerous much more assets like products and foreign exchange or currencies but having a platform that enables you to trade multiple sectors is certainly helpful for instance you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is several aspects available with this platform and i feel in the contemporary world we live in currency products things of the sort are definitely more required in brokerage homes particularly for the new investor however i did mention cfds though which is a contract for difference these are essentially agreements that brokerage or other organizations can offer a customer to buy a company generally it’s a method of having a lot more utilize without really owning any of the stock you are earning an agreement with said institution now cfds are actually not readily available to individuals in the us but they are readily available to people over in europe and in the uk but i need to say given the scariness of utilize and more than 60
of people trading cfds lose cash i simply entirely stay away from cfds especially if you are a more recent or intermediate investor and on that also simply stay away from utilize it’s not actually great for your portfolio now before we proceed to the two most popular things with etoro and things that individuals tend to love the most we require to talk about the stocks etfs and products now this is the greatest problem etoro has in my opinion and they are taking a look 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 adding 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 cash on the spread so the more people trading a stock the more money they make if they included a low-cap penny stock that only one person’s trading every day they’re not going to make that much money so they are just adding stocks that they feel that an advantageous and b well less risky i in fact see this as a little a favorable for brand-new financiers although for someone like myself who’s had a lot more
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experience it is quite annoying that a few 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 promised 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 make certain if you are a torah user and enjoying this it can be irritating that possibly one out of 10 stocks is really not available on the platform so let’s hope etoro sees 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 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 wish to trade stocks and cryptocurrencies in the very same location: Robinhood offers trading in stocks and options, consisting of fractional shares. In addition, it offers 7 various cryptocurrencies and charges no deal fees.