so i’ve been utilizing etoro for several years now…Etoro Aangifte… and i have to state given that my last etoro review video the platform itself has changed a hell of a lot i thought what much better opportunity with the new year to provide a new evaluation on etoro talk about the assets the bad points and the important things that etoro desperately requires 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 new to investing or are simply searching for 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 useful you carefully tap that like button to assist me out with the youtube gods and without more ado let’s proceed with the video so right off the bat i want to clarify etoro is not the sole brokerage account i utilize i do have several accounts of them and i have utilized them for several years however i do feel there is many locations that etor desperately requires to improve on if it is certainly to complete and i’ll be rather extreme in criticizing them in this video i seem like it’s only fair as somebody who does utilize etoro every day to give the sincere and extreme reality on the negative side as well as the positive side however overall i do have to state i am excessively delighted with them and if you are searching for a second brokerage account or our brand-new investor i would just state jump in the minimums are rather low give it a whirl and see if it fits your requirements and if you do so by means of the affiliate link down on the pinned
remark and follow the actions there you do really get lifetime access to our lwt etoro discord so you can interact with other investors directly even if you do open the account realize it’s not for you that chat room is easily offered 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 absolute mega giant of a broker over here in europe and they are about to release stock trading in the us which i feel will be the greatest video game changer for this company i have to state myself as someone who has actually worked in financing for over 15 years etoro are tackling it properly they are controlled in various jurisdictions and they are expanding at the best rate making sure all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for example they are controlled 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 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 prior to they introduce stock trading over the in 2015 or two is actually a good sign for me due to the fact that they’re making sure they don’t have a circumstance where they leave themselves open to lawsuits or they screw up with guideline it seems every second week robin hood has some lawsuit or some huge problem they have to deal with we have crypto brokers like binance over in the uk dealing with major problem with the regulation and the fca there it seems that etoro are taking the right actions initially prior to they release making sure that the customers remain in the safest possible position and they do not leave themselves open i need to say this is an excellent sign for a modern day brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern day 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 operating in this shows me that etoro is wanting to stick around for the long term and they have clear goals of growing to be one of the biggest brokerages worldwide now the minimum amount required to open an account does differ on where you are located 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 great deal of other nations it’s only fifty dollars so you can proceed check 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 totally free brokerage however of course brokers want to make money so how the hell do they do that well the first obvious fee is if you take cash out of your account there’s a five bucks charge however to be sincere that most likely 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 many brokers nowadays unless you’re getting charged a flat rate you will see that when you purchase a stock and when you sell a stock there’s a little difference in between usually it’s just an extremely small fee which is called the spread that is the cost that etoro will possibly keep 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 slightly higher price and the simplest method of describing this is if you purchased say 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 percentage loss is just how much it cost you to open that trade or you can even actually see the dollar and go charge of how much it roughly 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 minor distinction and what takes place here is etoro tends to determine 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 rather a great deal of the time the fee that i get charged is a lot less than the preliminary cost that i had for opening the trade itself however this is the typical standard structure nowadays for a lot of brokers that provide 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 some of the other advanced platforms and you will get charged a repaired cost per trade but for me personally i believe for newer investors specifically this is a much cheaper way of doing things now what does etoro have to use well they provide stocks etfs cryptocurrency cfds more on that in simply a second copy trading and numerous many more properties like products and foreign exchange or currencies however having a platform that permits you to trade multiple sectors is certainly advantageous for example you can short bitcoin and go long silver you might likewise short the japanese yen and go long into gold there is several aspects available 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 homes specifically for the new financier however i did discuss cfds though which is a contract for distinction these are generally contracts that brokerage or other organizations can use a customer to purchase a business typically it’s a way of having a lot more utilize without in fact owning any of the stock you are earning a contract with said institution now cfds are in fact not readily available to individuals in the us however they are offered to people over in europe and in the uk but i have to state given the scariness of leverage and more than 60
of individuals trading cfds lose cash i just completely stay away from cfds especially if you are a newer or intermediate investor and on that as well just stay away from utilize it’s not really good for your portfolio now prior to we carry on to the two most popular things with etoro and things that people tend to enjoy the most we need to discuss the stocks etfs and commodities now this is the biggest issue etoro has in my opinion and they are taking a look at changing this extremely very soon in fact i think it is among their greatest objectives for 2022. now although etoro tends to have most the stocks that you want to trade or etfs they do not have them all and they are adding them at a reasonably sluggish rate they do not want to include every penny stock under the sun that no one’s really trading like i stated they make their cash on the spread so the more people trading a stock the more money they make if they included a low-cap cent stock that only one person’s trading each and every single day they’re not going to make that much money so they are just including stocks that they feel that an useful and b well less risky i actually see this as a bit of a favorable for new investors although for somebody like myself who’s had a lot more
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experience it is quite irritating that a few of the stocks that i do wish to trade or at least look at and not on the platform now that stated i have actually spoken with etoro on this and they have assured 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 relevant however i make sure if you are a torah user and watching this it can be irritating that perhaps one out of 10 stocks is really not available on the platform so let’s hope etoro views this video and it alters very 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. homeowners can register for a virtual trading account. However, there are only 43 states (in addition to Washington D.C. and the Northern Mariana Islands) where you can utilize real money to buy and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York City, Nevada, and Tennessee consumers currently can not trade with eToro. The business aims to have 50-state availability eventually. Up until then, some traders will have to look somewhere else.
Alternatives to consider
If you wish to trade stocks and cryptocurrencies in the exact same location: Robinhood provides trading in stocks and options, including fractional shares. In addition, it uses 7 different cryptocurrencies and charges no transaction charges.