I have actually been using etoro for a number of years now and i have to say considering that my last etoro review video the platform itself has actually changed a hell of a lot i believed what better chance with the new year to give a new evaluation on etoro talk about the great points the bad points and the things that etoro frantically needs to enhance on if it is undoubtedly to contend 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 brand-new brokerage account and etoro is a choice then this video is for you all i ask in return is if you find this video helpful you carefully 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 want to clarify etoro is not the sole brokerage account i use i do have a number of accounts of them and i have utilized them for several years however i do feel there is lots of areas that etor frantically needs to improve on if it is undoubtedly to contend and i’ll be quite extreme in slamming them in this video i feel like it’s only fair as somebody who does use etoro on a day-to-day basis to provide the truthful and severe reality on the unfavorable side as well as the positive side however overall i do have to say i am excessively happy with them and if you are looking for a 2nd brokerage account or our brand-new investor i would just state dive in the minimums are quite low give it a whirl and see if it fits your needs and if you do so via the affiliate link down on the pinned
remark and follow the actions there you do in fact get life time access to our lwt etoro discord so you can interact with other investors straight even if you do open the account recognize it’s not for you that chat room is readily available for you simply 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 outright 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 most significant video game changer for this company i need to say myself as somebody who has actually worked in financing for over 15 years etoro are setting about it the proper way they are controlled in various jurisdictions and they are expanding at the best speed ensuring 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 naturally they are on the finra website over in the us as i said u.s stock trading is coming very soon nevertheless the truth that they are taking their time over in
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the us prior to they release stock trading over the in 2015 approximately is really a good sign for me due to the fact that they’re ensuring they do not have a situation where they leave themselves open to lawsuits or they ruin with regulation it appears every second week robin hood has some lawsuit or some huge complaint they need to handle we have crypto brokers like binance over in the uk dealing with severe difficulty with the guideline and the fca there it appears that etoro are taking the best steps first prior to they introduce making sure that the clients are in the most safe possible position and they don’t leave themselves open i have to state this is a terrific sign for a modern day brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern commission complimentary platform more on that later going the best steps ensuring that all the eyes are dotted or the t’s are crossed prior to they open in any area they are in fact operating in this shows me that etoro is seeking to remain for the long term and they have clear aims of growing to be one of the most significant brokerages worldwide now the minimum quantity needed to open an account does vary 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 really ten dollars and a lot of other nations it’s only fifty dollars so you can go on inspect 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 but obviously brokers wish to earn money so how the hell do they do that well the first obvious fee is if you take money out of your account there’s a five dollars cost but to be truthful that probably 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 purchase a stock and when you offer a stock there’s a little difference in between normally it’s simply an extremely little cost which is called the spread that is the fee that etoro will possibly keep on this trade that’s how they make money since they are not charging you a commission to open the trade they’re just opening the trade at a slightly greater price and the simplest way of explaining this is if you bought say apple in this example on screen once in a while you immediately put it in your portfolio you will see a slight loss on this trade week one day one minute one 2nd one which percentage loss is how much it cost you to open that trade or you can even actually see the dollar and go charge of just how much it roughly cost you to open said trade nevertheless after utilizing this platform for a very long time when you close the trade too there is a small distinction and what occurs here is etoro tends to calculate the distinction which is how much they’ve made i have actually 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 initial cost that i had for opening the trade itself however this is the normal basic structure nowadays for a lot of brokers that use commission free trades if you do not want to pay a spread you can go and open an interactive brokers account a saxo checking 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 more recent financiers specifically this is a much cheaper method of doing things now what does etoro have to provide well they provide stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and numerous a lot more assets like products and forex or currencies however having a platform that allows you to trade multiple sectors is definitely 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 several elements available with this platform and i feel in the modern world we live in currency commodities things of the sort are absolutely more needed in brokerage homes especially for the new financier nevertheless i did mention cfds though which is a contract for difference these are essentially contracts that brokerage or other organizations can provide a client to purchase a company generally it’s a way of having a lot more leverage without in fact owning any of the stock you are earning an agreement with stated institution now cfds are in fact not offered to people in the us but they are offered to individuals over in europe and in the uk however i have to state given the scariness of leverage and more than 60
of people trading cfds lose money i simply totally stay away from cfds especially if you are a newer or intermediate financier and on that also simply keep away from leverage it’s not truly helpful for your portfolio now prior to we move on to the two most popular things with etoro and things that people tend to enjoy the most we require to discuss the stocks etfs and commodities now this is the greatest issue etoro has in my viewpoint and they are taking a look at altering this extremely very soon in fact i believe it is among their greatest objectives for 2022. now although etoro tends to have most the stocks that you wish to trade or etfs they don’t have them all and they are adding them at a fairly sluggish rate they do not want to include every penny stock under the sun that nobody’s actually 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 added in a low-cap penny stock that only one individual’s trading every day they’re not going to make that much money so they are only adding stocks that they feel that an advantageous and b well less risky i actually 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 quite frustrating that a few of the stocks that i do want to trade or at least look at and not on the platform now that said i have actually spoken with etoro on this and they have actually promised 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 may not even be that appropriate however i make certain if you are a torah user and enjoying this it can be bothersome that maybe one out of 10 stocks is really not offered 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 offered 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 clients presently can not trade with eToro.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the same place: Robinhood offers trading in stocks and alternatives, consisting of fractional shares. In addition, it uses 7 various cryptocurrencies and charges no transaction charges.