so i have actually been using etoro for numerous years now…Best Trading Bot For Etoro Pro… and i have to say since my last etoro review video the platform itself has actually changed a hell of a lot i thought what better chance with the brand-new year to offer a brand-new evaluation on etoro talk about the assets the bad points and the important things that etoro desperately needs to improve on if it is undoubtedly to compete with the likes of 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 alternative 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 assist me out with the youtube gods and without more ado let’s get on with the video so right off the bat i want to clarify etoro is not the sole brokerage account i utilize i do have a number of accounts of them and i have actually used them for a number of years however i do feel there is lots of locations that etor frantically needs to improve on if it is indeed to complete and i’ll be quite severe in criticizing them in this video i seem like it’s just reasonable as someone who does use etoro daily to give the honest and harsh reality on the unfavorable side along with the positive side however 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 simply state jump in the minimums are quite low give it a try and see if it fits your needs and if you do so through 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 engage with other investors directly even if you do open the account realize it’s not for you that chatroom is easily available for you simply 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 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 greatest video game changer for this company i need to say myself as somebody who has operated in finance for over 15 years etoro are setting about it the proper way they are regulated in many different jurisdictions and they are broadening at the best speed making certain all the eyes are dotted all the t’s are crossed prior to 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 of course they are on the finra website over in the us as i stated 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 launch stock trading over the last year or two is really an excellent sign for me due to the fact that they’re ensuring they don’t have a situation where they leave themselves open to claims or they ruin with guideline it appears every second week robin hood has some lawsuit or some huge problem they have to handle we have crypto brokers like binance over in the uk facing major difficulty with the policy and the fca there it seems that etoro are taking the best steps initially prior to they launch making certain that the clients remain in the safest possible position and they don’t leave themselves open i have to state this is a terrific sign for a modern brokerage with an app unlike the old standard saxo bank and interactive brokers a modern commission complimentary platform more on that later going the best actions making sure that all the eyes are dotted or the t’s are crossed before they open in any area they are in fact working in this shows me that etoro is wanting to stay for the long term and they have clear aims of growing to be among the greatest 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 readily available but if you are from the us or the uk
the minimum to open an account is actually ten dollars and a lot of other nations it’s only fifty dollars so you can go on inspect this link it will be 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 totally free brokerage however of course brokers wish 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 5 dollars charge however to be sincere that most likely gets wrapped up in transaction costs 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 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 difference in between typically it’s just a very little cost and that is called the spread that is the fee that etoro will potentially continue 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 most convenient method of explaining this is if you purchased say apple in this example on screen now and then 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 percentage loss is just how much it cost you to open that trade or you can even in fact see the dollar and go fee of how much it approximately cost you to open stated trade nevertheless after utilizing this platform for a long period of time when you close the trade too there is a small distinction and what takes place here is etoro tends to calculate 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 initial fee that i had for opening the trade itself but this is the typical standard structure these days for a great deal of brokers that offer commission open markets if you don’t wish to pay a spread you can go and open an interactive brokers account a saxo bank account or some of the other advanced platforms and you will get charged a fixed charge per trade but for me personally i believe for newer financiers especially this is a more affordable method of doing things now what does etoro have to offer well they use stocks etfs cryptocurrency cfds more on that in just a second copy trading and many much more assets like commodities and foreign exchange or currencies but having a platform that allows you to trade multiple sectors is absolutely useful 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 available with this platform and i feel in the contemporary world we reside in currency products things of the sort are definitely more required in brokerage houses particularly for the brand-new investor nevertheless i did point out cfds though which is a contract for difference these are basically agreements that brokerage or other institutions can provide a customer to purchase a company generally it’s a method of having a lot more utilize without in fact owning any of the stock you are making a contract with stated institution now cfds are actually not readily available to individuals in the us but they are offered to individuals over in europe and in the uk however i have to state offered the scariness of leverage 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 financier and on that too simply keep away from utilize it’s not actually helpful for your portfolio now prior to we proceed to the two most popular things with etoro and things that individuals tend to love the most we need to talk about the stocks etfs and products now this is the most significant problem etoro has in my viewpoint and they are taking a look at altering this really 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 relatively slow rate they do not want to include every penny stock under the sun that no one’s actually trading like i stated they make their money on the spread so the more individuals trading a stock the more cash they make if they included 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 just including stocks that they feel that an advantageous and b well less risky i in fact see this as a bit of a positive for brand-new financiers although for somebody like myself who’s had a lot more
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experience it is rather frustrating that a few 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 actually talked to 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 might not even be that pertinent but i make sure if you are a torah user and watching this it can be frustrating that possibly one out of 10 stocks is really not readily available on the platform so let’s hope etoro watches this video and it changes really soon now the two most popular things on etoro is the popular investing and the social platform program
Only 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 customers currently can not trade with eToro.
Alternatives to think about
If you want to trade stocks and cryptocurrencies in the same location: Robinhood provides trading in stocks and options, including fractional shares. In addition, it uses 7 various cryptocurrencies and charges no deal fees.