so i’ve been using etoro for several years now…Etoro Vs Webull… and i have to say given that my last etoro review video the platform itself has actually changed a hell of a lot i thought what much better opportunity with the new year to offer a new review on etoro speak about the good points the bad points and the things that etoro frantically needs to improve on if it is undoubtedly to take on the likes of robin hood when it opens stock trading in the us so if you are new to investing or are just searching 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 helpful you gently tap that like button to help 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 utilize i do have a number of accounts of them and i have used them for several years nevertheless i do feel there is numerous areas that etor frantically requires to improve on if it is certainly to contend and i’ll be rather harsh in slamming them in this video i seem like it’s just fair as somebody who does use etoro every day to provide the truthful and extreme fact on the unfavorable side in addition to the positive side nevertheless general i do have to say i am extremely happy with them and if you are trying to find a second brokerage account or our brand-new financier i would just say jump in the minimums are rather low offer it a whirl and see if it fits your needs and if you do so through the affiliate link down on the pinned
remark and follow the actions there you do really get lifetime access to our lwt etoro discord so you can connect with other investors directly even if you do open the account recognize it’s not for you that chatroom is easily offered for you just follow the steps down on the pinned remarks let’s start about who etoro is and what they’re about they are an outright mega giant of a broker over here in europe and they are about to launch 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 going about it the proper way they are regulated in several jurisdictions and they are broadening at the right pace making certain all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for instance they are controlled with the fca over in the uk sysek over in cyprus they’re managed in australia and naturally they are on the finra site over in the us as i stated u.s stock trading is coming soon nevertheless the fact 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 in fact a good sign for me since they’re ensuring they do not have a situation where they leave themselves open to suits or they ruin with regulation it appears every second week robin hood has some court case or some huge problem they need to deal with we have crypto brokers like binance over in the uk facing severe difficulty with the fca and the guideline there it appears that etoro are taking the best actions initially prior to they introduce making certain that the clients are in the safest possible position and they don’t leave themselves open i have to say this is a great sign for a contemporary brokerage with an app unlike the old standard saxo bank and interactive brokers a modern commission free platform more on that later going the best actions making sure that all the eyes are dotted or the t’s are crossed before they open in any location they are really working in this shows me that etoro is wanting to stay for the long term and they have clear objectives of growing to be among the greatest brokerages in the world now the minimum quantity required to open an account does differ on where you are located 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 just fifty dollars so you can proceed check 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 said etoro is a commission totally free brokerage but naturally brokers want to make money so how the hell do they do that well the first apparent fee is if you take money out of your account there’s a five bucks charge but to be honest that most likely gets involved 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 sell a stock there’s a little distinction in between typically it’s just an extremely small cost and that is called the spread that is the fee that etoro will potentially keep on 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 slightly higher cost and the most convenient way of explaining this is if you bought say apple in this example on screen from time to time you instantly 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 how much it cost you to open that trade or you can even actually see the dollar and go charge of how much it roughly cost you to open stated trade however after using 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 which is just how much they’ve made i have actually tracked this for a long 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 but this is the normal standard structure these days for a great deal of brokers that offer 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 a few of the other advanced platforms and you will get charged a fixed charge per trade but for me personally i believe for more recent financiers specifically this is a more affordable way of doing things now what does etoro need to use well they use stocks etfs cryptocurrency cfds more on that in simply a second copy trading and many a lot more assets like products and foreign exchange or currencies however having a platform that allows you to trade numerous sectors is absolutely useful for example you can short bitcoin and go long silver you might likewise short the japanese yen and go long into gold there is many different aspects available with this platform and i feel in the contemporary world we reside in currency commodities things of the sort are absolutely more required in brokerage homes especially for the new financier nevertheless i did discuss cfds though which is a contract for difference these are generally contracts that brokerage or other institutions can offer a customer to buy a company normally it’s a way of having a lot more utilize without really owning any of the stock you are making an agreement with stated organization now cfds are really not offered to people in the us however they are readily available to individuals over in europe and in the uk but i need to say given the scariness of utilize and more than 60
of individuals trading cfds lose money i just totally stay away from cfds specifically if you are a newer or intermediate investor and on that also simply keep away from leverage it’s not actually good for your portfolio now prior to we proceed to the two most popular things with etoro and things that individuals tend to enjoy the most we require to discuss the stocks etfs and products now this is the most significant problem etoro has in my opinion and they are looking at changing this very very soon in fact i believe it is among their biggest goals 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 penny stock under the sun that nobody’s in fact trading like i stated they make their cash 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 only adding stocks that they feel that an useful and b well less dangerous i in fact see this as a bit of a positive for new financiers although for someone like myself who’s had a lot more
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experience it is rather frustrating that some of the stocks that i do wish to trade or a minimum of take a look at and not on the platform now that said i have actually 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 might not even be that appropriate however i’m sure if you are a torah user and enjoying this it can be irritating that maybe one out of 10 stocks is actually not available on the platform so let’s hope etoro watches this video and it changes really soon now the two most popular things on etoro is the social platform and the popular investing program
Just 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 consumers presently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the same place: Robinhood uses trading in stocks and choices, including fractional shares. In addition, it offers 7 various cryptocurrencies and charges no transaction fees.