I’ve been using etoro for a number of years now and i have to say because my last etoro review video the platform itself has altered a hell of a lot i believed what better chance with the new year to provide a new evaluation on etoro talk about the good points the bad points and the things that etoro frantically requires to enhance on if it is indeed to compete with the likes of robin hood when it opens stock trading in the us so if you are new to investing or are just looking for a new brokerage account and etoro is a choice then this video is for you all i ask in return is if you discover this video beneficial you carefully tap that like button to assist me out with the youtube gods and without more ado let’s get on with the video so right off the bat i desire to clarify etoro is not the sole brokerage account i use i do have numerous accounts of them and i have actually utilized them for several years however i do feel there is numerous locations that etor desperately requires to enhance on if it is indeed to compete and i’ll be quite severe in slamming them in this video i feel like it’s only reasonable as somebody who does use etoro on an everyday basis to offer the honest and extreme truth on the negative side as well as the favorable side however total i do have to say i am overly pleased with them and if you are looking for a 2nd brokerage account or our new financier i would just say jump in the minimums are rather low provide 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 in fact get life time access to our lwt etoro discord so you can communicate with other financiers straight even if you do open the account realize it’s not for you that chat room is readily offered 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 launch stock trading in the us which i feel will be the greatest game changer for this company i have to state myself as somebody who has actually operated in financing for over 15 years etoro are setting about it the right way they are regulated in various jurisdictions and they are broadening at the ideal speed making sure all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for instance 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 website 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 before they release stock trading over the in 2015 or two is really a good sign for me because they’re making sure they don’t have a scenario where they leave themselves open to suits or they screw up with regulation it seems every second week robin hood has some court case or some big grievance they have to deal with we have crypto brokers like binance over in the uk dealing with major trouble with the fca and the regulation there it seems that etoro are taking the ideal steps first prior to they launch making sure that the clients are in the best possible position and they do not leave themselves open i have to state this is a great sign for a modern day brokerage with an app unlike the old standard saxo bank and interactive brokers a modern commission totally free platform more on that later going the right steps making certain that all the eyes are dotted or the t’s are crossed before they open in any location they are in fact operating in this reveals me that etoro is seeking to stick around for the long term and they have clear objectives 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 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 only fifty dollars so you can proceed 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 said etoro is a commission totally free brokerage however of course brokers want to earn 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 fee however to be sincere that most likely gets wrapped up in deal fees 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 a lot of brokers these days 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 distinction in between normally it’s simply a very small charge and that is called the spread that is the cost that etoro will potentially keep on this trade that’s how they earn money due to the fact that they are not charging you a commission to open the trade they’re just opening the trade at a somewhat higher price and the simplest method of explaining this is if you purchased state apple in this example on screen once in a while you quickly put it in your portfolio you will see a minor loss on this trade week one day one minute one second one which portion loss is how much it cost you to open that trade or you can even actually drop in the dollar cost of just how much it roughly cost you to open stated trade however after using this platform for a very long time when you close the trade too there is a small difference and what happens here is etoro tends to calculate the distinction and that is just how much they have actually made i have tracked this for a very long time and seen that
when i actually do close a trade quite 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 but this is the normal basic structure these days for a lot of brokers that use commission open markets if you don’t want to pay a spread you can go and open an interactive brokers account a saxo bank account or a few of the other advanced platforms and you will get charged a repaired fee per trade but for me personally i believe for more recent investors specifically this is a more affordable way of doing things now what does etoro have to offer well they use stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and lots of many more properties like commodities and foreign exchange or currencies however having a platform that allows you to trade numerous sectors is absolutely advantageous for instance you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is various elements available with this platform and i feel in the modern world we live in currency products things of the sort are definitely more needed in brokerage homes particularly for the new financier however i did mention cfds though which is a contract for difference these are essentially agreements that brokerage or other institutions can offer a client to buy a company typically it’s a way of having a lot more take advantage of without really owning any of the stock you are making an agreement with said organization now cfds are really not offered to people in the us but they are offered to individuals over in europe and in the uk but i need to say provided the scariness of take advantage of and more than 60
of people trading cfds lose cash i simply totally stay away from cfds particularly if you are a newer or intermediate investor and on that too just stay away from take advantage of it’s not really helpful for your portfolio now prior to we move on to the two most popular things with etoro and things that people 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 viewpoint and they are looking at altering this extremely very soon in fact i think it’s one of 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 fairly sluggish rate they do not wish to add every penny stock under the sun that no one’s in fact trading like i stated they make their cash on the spread so the more individuals trading a stock the more money they make if they included a low-cap penny 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 including stocks that they feel that a helpful and b well less risky i really see this as a little bit of a positive 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 some of the stocks that i do wish to trade or at least look at and not on the platform now that said i have spoken to etoro on this and they have actually guaranteed 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 relevant but i’m sure if you are a torah user and seeing this it can be annoying that perhaps one out of 10 stocks is actually not offered on the platform so let’s hope etoro enjoys this video and it changes extremely very soon now the two most popular things on etoro is the social platform and the popular investing program
Just offered in 43 states
All U.S. homeowners can register for a virtual trading account. There are only 43 states (along 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 City, Nevada, and Tennessee clients currently can not trade with eToro. The company intends to have 50-state availability ultimately. Until then, some traders will need to look elsewhere.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the very same location: Robinhood uses trading in stocks and choices, including fractional shares. In addition, it provides 7 various cryptocurrencies and charges no deal fees.