I’ve been using etoro for a number of years now and i have to state given that my last etoro evaluation video the platform itself has changed a hell of a lot i thought what much better chance with the new year to offer a new review on etoro talk about the good points the bad points and the things that etoro frantically requires to enhance on if it is indeed 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 simply looking for a brand-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 gently tap that like button to assist me out with the youtube gods and without more 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 utilize i do have numerous accounts of them and i have actually used them for several years nevertheless i do feel there is many areas that etor frantically needs to enhance on if it is indeed to contend and i’ll be quite harsh in slamming them in this video i feel like it’s just reasonable as someone who does use etoro on an everyday basis to provide the truthful and severe reality on the unfavorable side as well as the positive side nevertheless overall i do have to state i am extremely happy with them and if you are looking for a 2nd brokerage account or our new financier i would simply state dive in the minimums are quite low provide it a try and see if it fits your requirements and if you do so through 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 investors directly even if you do open the account recognize it’s not for you that chatroom is easily 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 absolute 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 company i have to say myself as someone who has actually worked in financing for over 15 years etoro are tackling it the right way they are controlled in several jurisdictions and they are expanding at the best speed 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 controlled in australia and obviously they are on the finra website over in the us as i said u.s stock trading is coming very soon however the truth that they are taking their time over in
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the us prior to they release stock trading over the last year or so is actually a good sign for me because they’re making certain they don’t 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 lawsuit or some big grievance they need to handle we have crypto brokers like binance over in the uk facing major difficulty with the guideline and the fca there it seems that etoro are taking the best steps first before they launch making sure that the customers are in the safest possible position and they don’t leave themselves open i have to say this is a fantastic sign for a modern brokerage with an app unlike the old conventional saxo bank and interactive brokers a modern day commission totally free platform more on that later going the right actions making certain that all the eyes are dotted or the t’s are crossed prior to they open in any area they are in fact working in this shows me that etoro is looking to stay for the long term and they have clear objectives 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 readily available however if you are from the us or the uk
the minimum to open an account is in fact 10 dollars and a lot of other nations it’s just 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 complimentary brokerage however obviously brokers want to make money so how the hell do they do that well the very first apparent fee is if you take money out of your account there’s a five bucks cost however to be truthful that most likely gets wrapped up in deal costs 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 many brokers nowadays unless you’re getting charged a flat rate you will see that when you buy a stock and when you sell a stock there’s a little distinction in between generally it’s just an extremely little charge and that is called the spread that is the fee that etoro will potentially continue this trade that’s how they earn money because they are not charging you a commission to open the trade they’re simply opening the trade at a somewhat greater cost and the most convenient way of describing this is if you bought state apple in this example on screen now and then you immediately put it in your portfolio you will see a slight loss on this trade week one day one minute one second one which portion loss is just how much it cost you to open that trade or you can even really go and see the dollar charge of just how much it approximately cost you to open said trade however after utilizing this platform for a long period of time when you close the trade too there is a slight difference and what occurs here is etoro tends to compute the difference and that is just how much they have actually made i have actually tracked this for a long time and seen that
when i in fact do close a trade quite a lot of the time the charge that i get charged is a lot less than the initial fee that i had for opening the trade itself however this is the typical basic structure these days for a lot of brokers that provide commission open markets if you don’t wish to pay a spread you can go and open an interactive brokers account a saxo checking account or some of the other more advanced platforms and you will get charged a fixed cost per trade but for me personally i think for more recent financiers specifically this is a much cheaper way of doing things now what does etoro need to provide well they offer stocks etfs cryptocurrency cfds more on that in just a second copy trading and lots of many more assets like commodities and foreign exchange or currencies however having a platform that allows you to trade several sectors is certainly helpful for instance you can short bitcoin and go long silver you could likewise short the japanese yen and go long into gold there is many different elements readily available with this platform and i feel in the modern world we reside in currency commodities things of the sort are definitely more needed in brokerage houses specifically for the new financier however i did point out cfds though which is a contract for difference these are basically contracts that brokerage or other institutions can provide a customer to purchase a business normally it’s a way of having a lot more leverage without in fact owning any of the stock you are making a contract with said organization now cfds are in fact not available to people in the us but they are offered to individuals over in europe and in the uk however i need to say offered the scariness of leverage and more than 60
of people trading cfds lose money i just entirely stay away from cfds particularly if you are a more recent or intermediate investor and on that also just stay away from leverage it’s not actually good for your portfolio now before we move on to the two most popular things with etoro and things that individuals tend to like the most we require to speak about the stocks etfs and products now this is the greatest problem etoro has in my opinion and they are taking a look at altering this very soon in fact i believe it is among their biggest 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 fairly slow rate they do not wish to include every cent stock under the sun that nobody’s really trading like i said they make their money on the spread so the more individuals 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 cash so they are only including stocks that they feel that an useful and b well less risky i really see this as a little bit of a favorable for new financiers although for somebody like myself who’s had a lot more
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experience it is rather annoying that a few 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 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 may not even be that appropriate but i make certain if you are a torah user and watching this it can be irritating that perhaps one out of 10 stocks is actually not offered on the platform so let’s hope etoro sees this video and it alters very very soon now the two most popular things on etoro is the social platform and the popular investing program
Just readily available 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 customers presently can not trade with eToro.
Alternatives to think about
If you want to trade stocks and cryptocurrencies in the exact same place: Robinhood offers trading in stocks and options, consisting of fractional shares. In addition, it provides 7 different cryptocurrencies and charges no deal fees.