I have actually been using etoro for numerous years now and i have to say given that my last etoro evaluation video the platform itself has actually changed a hell of a lot i believed what much better opportunity with the brand-new year to give a brand-new review on etoro talk about the great points the bad points and the things that etoro desperately needs to enhance on if it is certainly to complete 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 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 advantageous 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 desire 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 many areas that etor frantically needs to improve on if it is indeed to compete and i’ll be quite severe in slamming them in this video i feel like it’s just fair as somebody who does use etoro on a daily basis to give the extreme and truthful fact on the unfavorable side as well as the favorable side however 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 simply state jump in the minimums are quite low provide 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 steps there you do actually get life time access to our lwt etoro discord so you can engage with other investors straight even if you do open the account understand it’s not for you that chat room is easily offered for you simply follow the steps down on the pinned comments 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 introduce stock trading in the us which i feel will be the biggest game changer for this company i need to state myself as somebody who has actually operated in financing for over 15 years etoro are tackling it the right way they are regulated in many different jurisdictions and they are expanding at the right pace ensuring 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 naturally they are on the finra website over in the us as i stated u.s stock trading is coming soon nevertheless the reality that they are taking their time over in
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the us prior to they introduce stock trading over the last year or two is in fact a good sign for me because they’re ensuring they do not have a scenario where they leave themselves open to lawsuits or they mess up with policy it appears every second week robin hood has some court case or some big problem they have to deal with we have crypto brokers like binance over in the uk dealing with serious problem with the guideline and the fca there it appears that etoro are taking the ideal steps first prior to they launch making sure that the clients remain in the most safe possible position and they do not leave themselves open i have to say 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 ideal steps making certain that all the eyes are dotted or the t’s are crossed prior to they open in any area they are really operating in this shows me that etoro is wanting 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 amount needed to open an account does vary 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 10 dollars and a lot of other nations it’s just fifty dollars so you can proceed 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 stated etoro is a commission totally free brokerage but of course brokers want to earn money so how the hell do they do that well the very first apparent charge is if you take money out of your account there’s a five bucks charge however to be sincere that most likely gets wrapped up in transaction fees and he toro probably doesn’t see that much of it the way they make their cash is on something called a spread if you go onto the majority 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 generally it’s just a really small charge and that is called the spread that is the cost that etoro will possibly continue this trade that’s how they make money because they are not charging you a commission to open the trade they’re just opening the trade at a somewhat higher cost and the easiest method of explaining this is if you bought say apple in this example on screen now and then you instantly put it in your portfolio you will see a small loss on this trade week one day one minute one 2nd one which portion loss is just how much it cost you to open that trade or you can even in fact see the dollar and go cost of just how much it approximately cost you to open stated trade however after utilizing this platform for a long time when you close the trade also there is a slight difference and what happens 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 rather a lot of the time the charge that i get charged is a lot less than the initial charge that i had for opening the trade itself but this is the regular basic structure nowadays for a great deal of brokers that provide commission open markets if you do not want to pay a spread you can go and open an interactive brokers account a saxo savings account or some of the other more advanced platforms and you will get charged a fixed fee per trade but for me personally i believe for newer investors particularly this is a much cheaper way of doing things now what does etoro need to use well they provide stocks etfs cryptocurrency cfds more on that in just a second copy trading and numerous a lot more properties like products and foreign exchange or currencies but having a platform that allows you to trade several sectors is certainly helpful 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 elements available with this platform and i feel in the modern day world we reside in currency commodities things of the sort are absolutely more needed in brokerage homes particularly for the brand-new financier nevertheless i did point out cfds though which is a contract for difference these are essentially contracts that brokerage or other institutions can offer a customer to purchase a business normally 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 individuals in the us however they are offered to individuals over in europe and in the uk however i have to state given the scariness of take advantage of and more than 60
of people trading cfds lose money i just entirely stay away from cfds especially if you are a newer or intermediate financier and on that as well simply stay away from leverage it’s not truly great for your portfolio now before 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 issue etoro has in my opinion and they are looking at altering this extremely soon in fact i believe it’s one of their greatest 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 including them at a reasonably sluggish rate they do not want to add every penny stock under the sun that nobody’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 added in a low-cap penny stock that only one person’s trading each and every single day they’re not going to make that much money so they are only adding stocks that they feel that a helpful and b well less risky i in fact see this as a bit of a positive for brand-new investors although for somebody like myself who’s had a lot more
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experience it is rather irritating that some of the stocks that i do want to trade or a minimum of take a look at and not on the platform now that stated i have spoken with etoro on this and they have 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 seeing this it can be frustrating that maybe one out of 10 stocks is in fact not available on the platform so let’s hope etoro sees this video and it changes 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. citizens can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee consumers presently can not trade with eToro.
Alternatives to consider
If you wish to trade stocks and cryptocurrencies in the exact same place: Robinhood uses trading in stocks and choices, including fractional shares. In addition, it uses 7 various cryptocurrencies and charges no transaction fees.