so i’ve been using etoro for a number of years now…Profit And Loss Diagrams Options Etoro… and i have to say because my last etoro evaluation video the platform itself has actually changed a hell of a lot i thought what much better opportunity with the new year to give a brand-new review on etoro speak about the good points the bad points and the things that etoro desperately needs to improve on if it is undoubtedly to take on the similarity robin hood when it opens stock trading in the us so if you are new to investing or are just trying to find a brand-new brokerage account and etoro is an alternative then this video is for you all i ask in return is if you find this video useful you gently tap that like button to help me out with the youtube gods and without further 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 utilize i do have a number of accounts of them and i have actually utilized them for numerous years however i do feel there is lots of areas that etor desperately needs to improve on if it is indeed to compete and i’ll be quite extreme in slamming them in this video i feel like it’s just reasonable as somebody who does utilize etoro daily to provide the sincere and severe fact on the negative side along with the positive side nevertheless total i do have to state i am overly pleased with them and if you are trying to find a second brokerage account or our new investor i would just say jump in the minimums are quite 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 steps 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 understand it’s not for you that chatroom is readily offered 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 introduce stock trading in the us which i feel will be the biggest game changer for this business i need to state myself as someone who has actually worked in finance for over 15 years etoro are tackling it the right way they are managed in several jurisdictions and they are broadening at the right rate making certain all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for instance they are managed 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 said u.s stock trading is coming very soon nevertheless the reality that they are taking their time over in
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the us before they launch stock trading over the in 2015 approximately is really a great sign for me because they’re making certain they do not have a situation where they leave themselves open to suits or they screw up with policy it appears every second week robin hood has some lawsuit or some huge grievance they need to handle we have crypto brokers like binance over in the uk dealing with serious problem with the fca and the policy there it appears that etoro are taking the right steps initially before they launch ensuring that the customers are in the safest possible position and they don’t leave themselves open i have to say this is a terrific sign for a modern day 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 steps ensuring that all the eyes are dotted or the t’s are crossed prior to they open in any location they are in fact working in this shows me that etoro is wanting to remain for the long term and they have clear goals of growing to be one of the biggest brokerages worldwide now the minimum amount needed 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 ten dollars and a lot of other countries it’s just fifty dollars so you can go ahead examine 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 however naturally brokers want to make money so how the hell do they do that well the first obvious charge is if you take cash out of your account there’s a five dollars charge however to be truthful that most likely gets wrapped up in transaction charges 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 buy a stock and when you sell a stock there’s a little difference in between usually it’s just a really little fee and that 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 simply opening the trade at a slightly greater cost and the most convenient way of describing this is if you bought say apple in this example on screen now and then you immediately put it in your portfolio you will see a slight 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 actually go and see the dollar fee of just how much it roughly cost you to open said trade however after using this platform for a long time when you close the trade too there is a minor distinction and what occurs here is etoro tends to calculate the distinction which is just how much they’ve made i have actually tracked this for a long period of time and seen that
when i actually do close a trade rather a lot of the time the fee that i get charged is a lot less than the initial charge that i had for opening the trade itself however this is the regular basic structure nowadays for a great deal of brokers that offer commission free trades if you do not wish to pay a spread you can go and open an interactive brokers account a saxo bank account or a few of the other more advanced platforms and you will get charged a fixed cost per trade but for me personally i believe for more recent investors 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 just a second copy trading and lots of a lot more assets like commodities and forex or currencies but having a platform that permits you to trade several sectors is definitely helpful for example you can short bitcoin and go long silver you could likewise short the japanese yen and go long into gold there is various aspects available with this platform and i feel in the contemporary world we live in currency products things of the sort are absolutely more required in brokerage houses specifically for the brand-new financier nevertheless i did point out cfds though which is a contract for difference these are generally agreements that brokerage or other organizations can provide a customer to buy a business generally it’s a method of having a lot more utilize without actually owning any of the stock you are earning an agreement with said institution now cfds are really not readily available to people in the us but they are available to individuals over in europe and in the uk however i need to state offered the scariness of utilize and more than 60
of people trading cfds lose money i simply entirely stay away from cfds especially if you are a more recent or intermediate investor and on that as well just keep away from take advantage of it’s not truly great for your portfolio now prior to we carry on to the two most popular things with etoro and things that individuals tend to like the most we need to discuss the stocks etfs and commodities now this is the most significant issue etoro has in my viewpoint and they are taking a look at altering this extremely soon in fact i believe it is among 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 adding them at a fairly slow rate they do not want to add every cent stock under the sun that nobody’s really trading like i stated they make their cash on the spread so the more people trading a stock the more money they make if they added in a low-cap cent stock that only one person’s trading each and every single day they’re not going to make that much money so they are only adding stocks that they feel that an advantageous and b well less dangerous i really see this as a little a positive for brand-new investors although for someone like myself who’s had a lot more
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experience it is quite irritating that some 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 with etoro on this and they have actually 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 may not even be that relevant however i’m sure if you are a torah user and enjoying this it can be irritating that possibly one out of 10 stocks is actually not available on the platform so let’s hope etoro watches this video and it changes really 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 consumers currently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the exact same location: Robinhood provides trading in stocks and options, consisting of fractional shares. In addition, it provides 7 various cryptocurrencies and charges no deal charges.