so i’ve been using etoro for several years now…Robot Para Etoro… and i need to say considering that my last etoro review video the platform itself has actually changed a hell of a lot i believed what much better chance with the new year to give a brand-new evaluation on etoro speak about the good points the bad points and the important things that etoro desperately needs to improve on if it is certainly to compete with the similarity robin hood when it opens stock trading in the us so if you are brand-new to investing or are just searching 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 helpful you gently tap that like button to help me out with the youtube gods and without additional ado let’s proceed with the video so right off the bat i wish to clarify etoro is not the sole brokerage account i utilize i do have numerous accounts of them and i have used them for numerous years nevertheless i do feel there is numerous locations that etor frantically requires to improve on if it is undoubtedly to complete and i’ll be quite harsh in criticizing them in this video i feel like it’s just fair as someone who does use etoro daily to give the sincere and harsh truth on the unfavorable side as well as the positive side however overall i do need to say i am excessively delighted with them and if you are looking for a 2nd brokerage account or our brand-new financier i would just say jump in the minimums are rather low provide it a whirl and see if it fits your needs and if you do so through the affiliate link down on the pinned
remark 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 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 have to do with they are an absolute mega giant of a broker over here in europe and they will release stock trading in the us which i feel will be the most significant video game changer for this company i have to say myself as someone who has actually operated in finance for over 15 years etoro are tackling it the proper 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 regulated with the fca over in the uk sysek over in cyprus they’re regulated in australia and obviously 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 prior to they release stock trading over the last year approximately is in fact a good sign for me since they’re ensuring they don’t have a circumstance where they leave themselves open to claims or they ruin with regulation it seems every second week robin hood has some court case or some big complaint they need to handle we have crypto brokers like binance over in the uk facing serious problem with the policy and the fca there it appears that etoro are taking the best steps first before they introduce making sure that the clients are in the safest possible position and they don’t 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 free platform more on that later going the best steps making certain 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 reveals me that etoro is looking to stay for the long term and they have clear objectives of growing to be one of the biggest brokerages in the world now the minimum quantity required to open an account does differ on where you are located on screen now you can see the minimums offered however if you are from the us or the uk
the minimum to open an account is actually ten dollars and a great deal of other countries it’s just fifty dollars so you can go ahead examine this link it will remain 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 totally free brokerage however naturally brokers want to make money so how the hell do they do that well the very first obvious charge is if you take cash out of your account there’s a five dollars cost but to be truthful that probably gets involved deal costs and he toro probably doesn’t see that much of it the method 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 purchase a stock and when you offer a stock there’s a little distinction in between generally it’s just an extremely small cost and that is called the spread that is the charge that etoro will possibly continue this trade that’s how they generate income since they are not charging you a commission to open the trade they’re just opening the trade at a somewhat greater cost and the most convenient way of explaining this is if you purchased state apple in this example on screen now and then you instantly put it in your portfolio you will see a small 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 drop in the dollar cost of just how much it roughly cost you to open said trade nevertheless after utilizing this platform for a long period of time when you close the trade also there is a slight distinction and what occurs here is etoro tends to determine the distinction which is just how much they have actually made i have tracked this for a very long time and seen that
when i really do close a trade quite a great deal of the time the charge that i get charged is a lot less than the preliminary charge that i had for opening the trade itself but this is the typical standard structure these days for a great deal of brokers that provide commission free trades if you don’t want to pay a spread you can go and open an interactive brokers account a saxo bank account or some of the other more advanced platforms and you will get charged a repaired fee per trade but for me personally i believe for more recent financiers particularly this is a much cheaper way of doing things now what does etoro need to use well they use stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and lots of many more possessions like products and forex or currencies but having a platform that enables you to trade numerous sectors is certainly 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 many different elements offered with this platform and i feel in the modern world we live in currency commodities things of the sort are definitely more required in brokerage homes especially for the new investor nevertheless i did point out cfds though which is a contract for difference these are generally contracts that brokerage or other institutions can use a client to purchase 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 stated organization now cfds are actually not available to individuals in the us however they are offered to individuals over in europe and in the uk but i have to say given the scariness of take advantage of and more than 60
of individuals trading cfds lose cash i simply entirely keep away from cfds especially if you are a more recent or intermediate financier and on that too simply stay away from take advantage of it’s not really helpful for your portfolio now prior to we carry on to the two most popular things with etoro and things that people tend to enjoy the most we require to discuss the stocks etfs and commodities now this is the most significant problem etoro has in my viewpoint and they are looking at changing this very very 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 do not have them all and they are adding them at a relatively sluggish rate they do not wish to include every penny stock under the sun that nobody’s actually trading like i said they make their cash on the spread out so the more individuals trading a stock the more money 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 just including stocks that they feel that a helpful and b well less risky i really see this as a bit of a favorable for brand-new financiers although for someone like myself who’s had a lot more
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experience it is rather bothersome 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 said i have spoken with etoro on this and they have assured me that a lot more stocks at record volumes are going to be added this year so by the time this video comes out it might not even be that appropriate however i make sure if you are a torah user and viewing this it can be bothersome that perhaps one out of 10 stocks is actually not available on the platform so let’s hope etoro views this video and it alters extremely soon now the two most popular things on etoro is the social platform and the popular investing program
Just available in 43 states
All U.S. locals can register for a virtual trading account. Nevertheless, there are just 43 states (together with Washington D.C. and the Northern Mariana Islands) where you can use genuine money to buy and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee clients presently can not trade with eToro. The business aims to have 50-state availability eventually. Until then, some traders will have to look somewhere else.
Alternatives to consider
If you wish to trade stocks and cryptocurrencies in the same place: Robinhood provides trading in stocks and alternatives, including fractional shares. In addition, it uses 7 different cryptocurrencies and charges no transaction fees.