so i have actually been using etoro for several years now…Woman From Etoro Advert… and i need to say given that my last etoro evaluation video the platform itself has altered a hell of a lot i thought what much better chance with the new year to give a new evaluation on etoro discuss the good points the bad points and the important things that etoro frantically requires to improve on if it is undoubtedly 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 trying to find 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 useful you gently tap that like button to help me out with the youtube gods and without further ado let’s proceed with the video so right off the bat i wish to clarify etoro is not the sole brokerage account i use i do have several accounts of them and i have actually used them for a number of years nevertheless i do feel there is many locations 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 fair as somebody who does use etoro every day to offer the truthful and severe truth on the unfavorable side as well as the positive side however general i do have to state i am extremely delighted with them and if you are looking for a second brokerage account or our new investor i would just say jump in the minimums are rather low give 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 actually get life time access to our lwt etoro discord so you can communicate with other investors straight even if you do open the account recognize 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 will introduce stock trading in the us which i feel will be the most significant video game changer for this company i need to state myself as somebody who has actually operated in finance for over 15 years etoro are tackling it the right way they are managed in many different jurisdictions and they are expanding at the right speed making certain all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for instance they are regulated with the fca over in the uk sysek over in cyprus they’re managed in australia and of course they are on the finra site over in the us as i said u.s stock trading is coming very soon nevertheless the fact that they are taking their time over in
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the us before they release stock trading over the last year or so is really an excellent sign for me because they’re making sure they do not have a circumstance where they leave themselves open to claims or they screw up with regulation it seems every second week robin hood has some court case or some huge grievance they need to handle we have crypto brokers like binance over in the uk facing major trouble with the fca and the policy there it appears that etoro are taking the best steps first before they release making sure that the clients are in the best possible position and they do not leave themselves open i have to say this is a great sign for a contemporary brokerage with an app unlike the old standard saxo bank and interactive brokers a modern day commission complimentary platform more on that later going the ideal actions ensuring that all the eyes are dotted or the t’s are crossed before 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 among the biggest brokerages on the planet now the minimum amount needed to open an account does vary on where you lie on screen now you can see the minimums readily available but if you are from the us or the uk
the minimum to open an account is really 10 dollars and a great deal of other nations it’s just fifty dollars so you can proceed 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 free brokerage however of course brokers wish to generate income so how the hell do they do that well the first apparent charge is if you take money out of your account there’s a five bucks fee however to be truthful that probably gets involved transaction charges and he toro most likely 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 these days 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 typically it’s just a really small cost which is called the spread that is the cost that etoro will potentially continue this trade that’s how they generate income because they are not charging you a commission to open the trade they’re simply opening the trade at a slightly greater rate and the simplest method of describing this is if you bought state apple in this example on screen once in a while you immediately put it in your portfolio you will see a minor loss on this trade week one day one minute one second one and that portion loss is just how much it cost you to open that trade or you can even really see the dollar and go fee of just how much it roughly cost you to open said trade nevertheless after using this platform for a long time when you close the trade as well there is a slight difference and what takes place here is etoro tends to calculate the distinction which is just how much they’ve made i have tracked this for a long period of time and seen that
when i actually do close a trade quite a lot 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 regular standard structure these days for a great deal of brokers that provide commission free trades if you do not want 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 repaired cost per trade but for me personally i think for more recent financiers particularly this is a more affordable way of doing things now what does etoro have to use well they use stocks etfs cryptocurrency cfds more on that in just a second copy trading and many many more assets like commodities and foreign exchange or currencies however having a platform that permits you to trade several 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 many different aspects offered with this platform and i feel in the modern day world we reside in currency commodities things of the sort are definitely more needed in brokerage houses specifically for the new financier however i did mention cfds though which is a contract for difference these are basically contracts that brokerage or other organizations can use a customer to purchase a company normally it’s a way of having a lot more take advantage of without really owning any of the stock you are making a contract with stated institution now cfds are in fact not available to people in the us but they are available to individuals over in europe and in the uk but i have to say provided the scariness of take advantage of and more than 60
of people trading cfds lose money i simply entirely stay away from cfds specifically if you are a newer or intermediate investor and on that too just stay away from leverage it’s not really great for your portfolio now prior to we move on to the two most popular things with etoro and things that people tend to like the most we need to discuss the stocks etfs and commodities now this is the most significant problem etoro has in my opinion and they are taking a look at changing this extremely 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 don’t have them all and they are adding them at a reasonably slow rate they do not wish to add every penny stock under the sun that nobody’s really trading like i stated they make their money on the spread so the more people trading a stock the more cash they make if they included a low-cap penny stock that only one person’s trading every single 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 bit of a favorable for brand-new investors although for somebody like myself who’s had a lot more
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experience it is rather annoying that some of the stocks that i do wish to trade or a minimum of take a look at and not on the platform now that stated i have actually 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’m sure if you are a torah user and seeing this it can be bothersome that possibly one out of 10 stocks is in fact not offered on the platform so let’s hope etoro views this video and it changes really soon now the two most popular things on etoro is the social platform and the popular investing program
Only available in 43 states
All U.S. residents can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee customers currently can not trade with eToro.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the exact same location: Robinhood offers trading in stocks and alternatives, including fractional shares. In addition, it offers 7 different cryptocurrencies and charges no transaction costs.