so i have actually been using etoro for numerous years now…Etoro Poland… and i need to say considering that my last etoro evaluation video the platform itself has actually altered a hell of a lot i believed what better chance with the new year to offer a new evaluation on etoro discuss the good points the bad points and the things that etoro frantically requires to improve on if it is indeed to compete with the likes of robin hood when it opens stock trading in the us so if you are brand-new to investing or are just trying to find a brand-new brokerage account and etoro is an option then this video is for you all i ask in return is if you find this video advantageous you gently tap that like button to help me out with the youtube gods and without more 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 actually utilized them for a number of years nevertheless i do feel there is many areas that etor desperately needs to improve on if it is indeed to compete and i’ll be quite severe in slamming them in this video i seem like it’s only reasonable as someone who does use etoro on a daily basis to give the extreme and honest truth on the unfavorable side along with the positive side however general i do have to say i am overly delighted with them and if you are trying to find a second brokerage account or our brand-new investor i would just state jump in the minimums are rather low give it a try and see if it fits your needs and if you do so via the affiliate link down on the pinned
comment and follow the steps there you do actually get life time access to our lwt etoro discord so you can communicate with other financiers directly even if you do open the account understand it’s not for you that chatroom is easily available 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 release stock trading in the us which i feel will be the biggest video game changer for this company i have to say myself as somebody who has worked in finance for over 15 years etoro are going about it the proper way they are controlled in many different jurisdictions and they are broadening at the ideal speed making sure all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for instance they are regulated with the fca over in the uk sysek over in cyprus they’re managed in australia and naturally they are on the finra website over in the us as i stated u.s stock trading is coming very soon however 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 an excellent sign for me because they’re ensuring they don’t have a circumstance where they leave themselves open to claims or they ruin with policy it seems every second week robin hood has some court case or some huge problem they have to handle we have crypto brokers like binance over in the uk facing severe difficulty with the fca and the policy there it seems that etoro are taking the best actions first before they launch making certain that the customers are in the best possible position and they do not leave themselves open i need to say this is a great sign for a modern brokerage with an app unlike the old standard saxo bank and interactive brokers a contemporary commission free platform more on that later going the right actions ensuring 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 reveals me that etoro is aiming to stay for the long term and they have clear goals of growing to be among the most significant brokerages worldwide now the minimum quantity needed to open an account does differ on where you lie 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 actually 10 dollars and a lot of other nations it’s only fifty dollars so you can go ahead inspect this link it will be 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 naturally brokers want to make money so how the hell do they do that well the very first apparent cost is if you take cash out of your account there’s a five dollars fee but to be truthful that probably gets involved deal fees and he toro probably doesn’t see that much of it the method they make their cash is on something called a spread if you go onto many brokers these days unless you’re getting charged a flat rate you will see that when you buy a stock and when you offer a stock there’s a little distinction in between generally it’s simply a very small charge which is called the spread that is the charge that etoro will possibly keep on this trade that’s how they earn money because they are not charging you a commission to open the trade they’re just opening the trade at a slightly higher rate and the easiest method of describing this is if you bought state 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 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 charge of how much it approximately cost you to open said trade nevertheless after utilizing this platform for a long period of time when you close the trade also there is a slight difference and what occurs 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 really do close a trade quite a lot of the time the cost that i get charged is a lot less than the preliminary fee that i had for opening the trade itself however this is the typical basic structure these days for a great deal of brokers that provide commission open markets if you do not wish 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 fixed cost per trade but for me personally i believe for more recent investors especially this is a much cheaper way of doing things now what does etoro have to offer well they offer stocks etfs cryptocurrency cfds more on that in simply a second copy trading and numerous a lot more properties like commodities and forex or currencies but having a platform that permits you to trade multiple sectors is certainly helpful for instance you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is several elements readily available with this platform and i feel in the modern world we live in currency products things of the sort are absolutely more required in brokerage homes particularly for the new investor however i did discuss cfds though which is a contract for distinction these are generally contracts that brokerage or other institutions can use a client to purchase a company typically it’s a way of having a lot more take advantage of without actually owning any of the stock you are making a contract with stated organization now cfds are actually not available to individuals in the us however they are available to individuals over in europe and in the uk however i have to state provided the scariness of take advantage of and more than 60
of individuals trading cfds lose money i simply entirely keep away from cfds especially if you are a newer or intermediate financier and on that too simply stay away from take advantage of it’s not actually great for your portfolio now prior to we carry on to the two most popular things with etoro and things that people tend to love the most we need to talk about the stocks etfs and products now this is the greatest issue etoro has in my opinion and they are looking at changing this very very soon in fact i believe it’s one of their most significant goals 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 including them at a fairly slow rate they do not wish to include every cent stock under the sun that no one’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 cash so they are just including stocks that they feel that a helpful and b well less risky i actually see this as a bit of a positive for 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 a minimum of take a look at and not on the platform now that stated i have spoken to etoro on this and they have actually 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 pertinent but i’m sure if you are a torah user and seeing this it can be irritating that possibly one out of 10 stocks is actually not offered on the platform so let’s hope etoro views this video and it alters really soon now the two most popular things on etoro is the social platform and the popular investing program
Only offered 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 consumers presently can not trade with eToro.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the exact same place: Robinhood offers trading in stocks and options, including fractional shares. In addition, it uses 7 different cryptocurrencies and charges no transaction fees.