so i’ve been using etoro for several years now…Theopisti Giokka Etoro… and i need to state because my last etoro evaluation video the platform itself has altered a hell of a lot i believed what better chance with the brand-new year to offer a new evaluation on etoro discuss the assets the bad points and the important things that etoro frantically requires 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 brand-new to investing or are simply looking for a brand-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 helpful you carefully 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 use i do have numerous accounts of them and i have used them for a number of years however i do feel there is numerous areas that etor desperately requires to improve on if it is indeed to complete and i’ll be quite severe in criticizing them in this video i feel like it’s only fair as somebody who does use etoro daily to provide the harsh and honest fact on the unfavorable side in addition to the positive side nevertheless total i do have to say i am excessively happy with them and if you are trying to find a second brokerage account or our brand-new investor i would simply say jump in the minimums are rather low give it a whirl and see if it fits your needs and if you do so by means of the affiliate link down on the pinned
remark and follow the steps there you do really get life time access to our lwt etoro discord so you can connect with other investors straight even if you do open the account understand it’s not for you that chatroom is easily 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 outright mega giant of a broker over here in europe and they will launch stock trading in the us which i feel will be the most significant game changer for this business i have to state myself as somebody who has operated in financing for over 15 years etoro are setting about it the right way they are managed in several jurisdictions and they are broadening at the best rate making certain all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for example they are controlled 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 stated u.s stock trading is coming very soon however the fact that they are taking their time over in
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the us prior to they launch stock trading over the in 2015 approximately is really an excellent sign for me due to the fact that they’re making certain they do not have a circumstance where they leave themselves open to claims or they mess up with regulation it appears every second week robin hood has some court case or some big problem they have to handle we have crypto brokers like binance over in the uk facing major difficulty with the fca and the policy there it seems that etoro are taking the right actions first prior to they launch ensuring that the clients remain in the most safe possible position and they don’t leave themselves open i have to state this is a terrific sign for a modern day brokerage with an app unlike the old traditional saxo bank and interactive brokers a contemporary commission free platform more on that later going the ideal steps making certain that all the eyes are dotted or the t’s are crossed prior to they open in any location they are really working in this shows me that etoro is seeking to stay for the long term and they have clear objectives of growing to be one of the biggest brokerages worldwide now the minimum amount required to open an account does vary on where you lie on screen now you can see the minimums readily available however 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 on examine this link it will be in the description and see just how much it costs to open an account with etoro in your jurisdiction now like i stated etoro is a commission complimentary brokerage but naturally brokers want 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 5 bucks fee but to be honest that most likely gets wrapped up in deal charges and he toro probably doesn’t see that much of it the way they make their money is on something called a spread if you go onto many 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 simply an extremely small charge which is called the spread that is the charge that etoro will potentially keep this trade that’s how they generate income 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 higher rate and the easiest way of explaining this is if you purchased state apple in this example on screen once in a while you instantly put it in your portfolio you will see a minor loss on this trade week one day one minute one 2nd one and that percentage loss is just how much it cost you to open that trade or you can even really see the dollar and go charge of how much it approximately cost you to open stated trade however after using this platform for a long time when you close the trade too there is a slight difference and what takes place here is etoro tends to compute 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 rather a lot of the time the fee that i get charged is a lot less than the initial fee that i had for opening the trade itself however this is the regular basic structure nowadays for a lot of brokers that offer commission open markets if you do not wish 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 cost per trade but for me personally i believe for more recent investors specifically this is a more affordable method of doing things now what does etoro have to use well they provide stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and lots of much more assets like products and forex or currencies but having a platform that permits you to trade numerous sectors is definitely helpful for example you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is many different elements offered with this platform and i feel in the contemporary world we live in currency commodities things of the sort are certainly more required in brokerage houses particularly for the new financier however i did discuss cfds though which is a contract for distinction these are basically contracts that brokerage or other organizations can provide a customer to purchase a business usually it’s a method of having a lot more take advantage of without actually owning any of the stock you are earning an agreement with stated organization 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 have to state provided the scariness of take advantage of and more than 60
of individuals trading cfds lose money i just completely keep away from cfds especially if you are a newer or intermediate investor and on that also simply keep away from utilize it’s not actually great for your portfolio now before we carry on to the two most popular things with etoro and things that individuals tend to enjoy the most we need to speak about the stocks etfs and commodities now this is the most significant problem etoro has in my viewpoint and they are taking a look at changing 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 want to trade or etfs they don’t have them all and they are adding them at a reasonably slow rate they do not wish to include every cent stock under the sun that no one’s actually trading like i stated they make their cash on the spread so the more individuals trading a stock the more cash they make if they added in 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 only including stocks that they feel that an advantageous and b well less risky i really see this as a bit of a positive for new financiers although for somebody like myself who’s had a lot more
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experience it is rather irritating that a few of the stocks that i do want 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 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 may not even be that pertinent but i make certain if you are a torah user and viewing this it can be frustrating that perhaps one out of 10 stocks is actually not offered on the platform so let’s hope etoro views 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
Just readily available 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 presently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the exact same place: Robinhood offers trading in stocks and choices, consisting of fractional shares. In addition, it offers 7 different cryptocurrencies and charges no deal costs.