so i’ve been using etoro for several years now…Etoro Eror Signing In… and i need to say given that my last etoro review video the platform itself has changed a hell of a lot i believed what much better opportunity with the new year to offer a brand-new review on etoro discuss the good points the bad points and the important things that etoro frantically requires to improve on if it is indeed to take on the similarity robin hood when it opens stock trading in the us so if you are brand-new to investing or are simply 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 gently tap that like button to help 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 use i do have numerous accounts of them and i have utilized them for numerous years however i do feel there is lots of areas that etor frantically requires to improve on if it is undoubtedly to compete and i’ll be rather harsh in criticizing them in this video i feel like it’s just reasonable as someone who does use etoro every day to give the extreme and sincere reality on the unfavorable side as well as the positive side however general i do have to say i am overly pleased with them and if you are trying to find a second brokerage account or our 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 through the affiliate link down on the pinned
remark and follow the actions there you do really get life time access to our lwt etoro discord so you can connect with other financiers straight even if you do open the account understand it’s not for you that chatroom is readily 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 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 biggest video game changer for this business i need to say myself as someone who has actually worked in finance for over 15 years etoro are tackling it the proper way they are regulated in various jurisdictions and they are broadening at the best rate 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 regulated in australia and obviously they are on the finra website over in the us as i said u.s stock trading is coming 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 actually a good sign for me due to the fact that they’re making sure they do not have a scenario where they leave themselves open to claims or they mess up with guideline it appears every second week robin hood has some lawsuit or some huge problem they need to handle we have crypto brokers like binance over in the uk facing severe trouble with the guideline and the fca there it appears that etoro are taking the best actions first before they launch making sure that the clients remain in the safest possible position and they don’t leave themselves open i need to say this is a terrific sign for a contemporary brokerage with an app unlike the old standard saxo bank and interactive brokers a modern 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 shows me that etoro is seeking to stay for the long term and they have clear goals of growing to be one of the biggest brokerages in the world now the minimum quantity required to open an account does differ on where you lie on screen now you can see the minimums available however 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 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 said etoro is a commission complimentary brokerage however obviously brokers wish to make money so how the hell do they do that well the first obvious charge is if you take money out of your account there’s a five dollars fee however to be sincere that probably gets wrapped up in transaction costs and he toro probably does not see that much of it the method 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 normally it’s just a really small fee which is called the spread that is the fee that etoro will possibly keep this trade that’s how they earn money since they are not charging you a commission to open the trade they’re simply opening the trade at a somewhat greater rate and the easiest method of explaining 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 small loss on this trade week one day one minute one 2nd one and that portion 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 roughly cost you to open stated trade however after using this platform for a very long time when you close the trade also there is a minor distinction and what takes place here is etoro tends to compute the difference and that is how much they have actually 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 fee that i get charged is a lot less than the initial charge that i had for opening the trade itself however this is the typical standard structure these days for a lot of brokers that offer 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 a few of the other more advanced platforms and you will get charged a repaired fee per trade but for me personally i think for newer investors particularly this is a more affordable method of doing things now what does etoro have to provide well they offer stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and many a lot more properties like commodities and foreign exchange or currencies however having a platform that permits you to trade numerous sectors is absolutely useful 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 contemporary world we reside in currency commodities things of the sort are absolutely more needed in brokerage houses especially for the brand-new financier however i did point out cfds though which is a contract for difference these are essentially agreements that brokerage or other organizations can provide a client to buy a business usually it’s a method of having a lot more leverage without actually owning any of the stock you are making an agreement with said organization now cfds are actually not offered to people in the us however they are available to people over in europe and in the uk but i need to state provided the scariness of take advantage of and more than 60
of individuals trading cfds lose cash i just totally stay away from cfds specifically if you are a newer or intermediate financier and on that also just stay away from leverage it’s not actually good for your portfolio now prior to we move on to the two most popular things with etoro and things that people tend to love the most we need to discuss the stocks etfs and commodities now this is the biggest problem etoro has in my viewpoint and they are looking at altering this extremely soon in fact i believe it’s one of their most significant objectives 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 sluggish rate they do not want to include every cent stock under the sun that nobody’s actually trading like i said they make their money on the spread out so the more people trading a stock the more money they make if they included 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 just including stocks that they feel that a beneficial 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 quite bothersome that some of the stocks that i do wish to trade or at least take a look at and not on the platform now that stated i have spoken to etoro on this and they have actually assured 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 pertinent but i make certain if you are a torah user and viewing this it can be bothersome that possibly one out of 10 stocks is actually not available on the platform so let’s hope etoro enjoys this video and it alters very soon now the two most popular things on etoro is the social platform and the popular investing program
Just available in 43 states
All U.S. citizens can register for a virtual trading account. Nevertheless, 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, Nevada, and Tennessee consumers currently can not trade with eToro. The business intends to have 50-state availability ultimately. Up until then, some traders will have to look elsewhere.
Alternatives to think about
If you want to trade stocks and cryptocurrencies in the exact same location: Robinhood provides trading in stocks and alternatives, consisting of fractional shares. In addition, it provides 7 different cryptocurrencies and charges no deal charges.