so i’ve been using etoro for several years now…Closed Copy Trade Symbol Pc Etoro… and i have to state considering that my last etoro review video the platform itself has altered a hell of a lot i believed what better chance with the brand-new year to provide a new review on etoro speak about the good points the bad points and the things that etoro desperately requires to improve on if it is undoubtedly to take on the likes of robin hood when it opens stock trading in the us so if you are new to investing or are just searching for a brand-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 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 several years however i do feel there is numerous locations that etor frantically requires to improve on if it is certainly to complete and i’ll be quite severe in slamming them in this video i seem like it’s only reasonable as somebody who does use etoro on a daily basis to offer the severe and sincere reality on the negative side in addition to the positive side nevertheless overall i do have to say i am overly happy with them and if you are looking for a second brokerage account or our brand-new investor i would just state jump in the minimums are rather low provide it a try and see if it fits your requirements and if you do so via the affiliate link down on the pinned
comment and follow the steps there you do in fact get lifetime access to our lwt etoro discord so you can connect with other investors directly even if you do open the account recognize 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’re about 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 greatest video game changer for this company i need to state myself as someone who has actually worked in financing for over 15 years etoro are setting about it properly they are controlled in many different jurisdictions and they are broadening at the right 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 managed in australia and of course they are on the finra site over in the us as i stated u.s stock trading is coming soon however the reality that they are taking their time over in
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the us before they introduce stock trading over the last year or so is actually 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 screw up with policy it appears every second week robin hood has some lawsuit or some big grievance they need to deal with we have crypto brokers like binance over in the uk facing major problem with the fca and the policy there it seems that etoro are taking the ideal steps first prior to they release making certain that the clients are in the best possible position and they do not leave themselves open i need to state this is a terrific sign for a contemporary brokerage with an app unlike the old conventional saxo bank and interactive brokers a contemporary commission totally free platform more on that later going the right steps making sure that all the eyes are dotted or the t’s are crossed before they open in any area they are actually working in this reveals me that etoro is looking to stay for the long term and they have clear aims of growing to be one of the most significant 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 readily available but if you are from the us or the uk
the minimum to open an account is really ten dollars and a lot of other countries 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 said etoro is a commission complimentary brokerage however of course brokers want to make money so how the hell do they do that well the very first apparent fee is if you take money out of your account there’s a five bucks charge but to be sincere that probably gets wrapped up in deal costs and he toro most likely does not see that much of it the method they make their money is on something called a spread if you go onto most 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 difference in between usually it’s simply a really small fee and that is called the spread that is the fee that etoro will possibly continue this trade that’s how they make 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 greater rate and the easiest way of describing this is if you purchased say apple in this example on screen once in a while you immediately put it in your portfolio you will see a small loss on this trade week one day one minute one 2nd one and that percentage loss is how much it cost you to open that trade or you can even really go and see the dollar cost of just how much it roughly cost you to open stated trade nevertheless after utilizing this platform for a very long time when you close the trade as well there is a minor difference and what happens here is etoro tends to calculate the distinction and that is just how much they’ve made i have actually tracked this for a long period of time and seen that
when i in fact do close a trade quite a great deal of the time the cost that i get charged is a lot less than the preliminary cost that i had for opening the trade itself but this is the typical standard structure nowadays for a lot of brokers that offer 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 fixed cost per trade but for me personally i think 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 2nd copy trading and many a lot more properties like commodities and forex or currencies however having a platform that permits you to trade several sectors is absolutely beneficial for instance you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is various aspects available with this platform and i feel in the modern day world we live in currency products things of the sort are certainly more needed in brokerage houses especially for the new investor nevertheless i did discuss cfds though which is a contract for distinction these are generally contracts that brokerage or other organizations can provide a customer to buy a business normally it’s a method of having a lot more take advantage of without actually owning any of the stock you are making a contract with stated institution now cfds are in fact not available to individuals in the us however they are readily available to people over in europe and in the uk however i need to say offered the scariness of leverage 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 as well just stay away from leverage it’s not really great for your portfolio now prior to we carry on to the two most popular things with etoro and things that individuals tend to like the most we require to discuss the stocks etfs and products now this is the greatest problem etoro has in my viewpoint and they are taking a look 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 don’t have them all and they are including them at a fairly sluggish rate they do not want to include every cent stock under the sun that nobody’s in fact trading like i said they make their cash on the spread out so the more people trading a stock the more cash they make if they added in a low-cap penny stock that only one individual’s trading every day they’re not going to make that much cash so they are only including stocks that they feel that an advantageous and b well less dangerous i in fact see this as a little bit of a favorable for new investors although for someone 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 look at and not on the platform now that said i have spoken to etoro on this and they have 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 appropriate however i’m sure if you are a torah user and enjoying this it can be bothersome that possibly one out of 10 stocks is in fact not readily available on the platform so let’s hope etoro views this video and it changes very very soon now the two most popular things on etoro is the popular investing and the social platform program
Only readily available in 43 states
All U.S. homeowners can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee customers presently can not trade with eToro.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the same place: Robinhood provides trading in stocks and options, including fractional shares. In addition, it uses 7 different cryptocurrencies and charges no transaction costs.