so i’ve been using etoro for numerous years now…Forex Brokers Etoro… and i need to say given that my last etoro evaluation video the platform itself has changed a hell of a lot i believed what much better opportunity with the new year to provide a new review on etoro discuss the good points the bad points and the important things that etoro desperately 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 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 proceed 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 several years however i do feel there is lots of locations that etor frantically needs to improve on if it is indeed to compete and i’ll be rather harsh in criticizing them in this video i feel like it’s only fair as somebody who does utilize etoro on a daily basis to offer the sincere and severe fact on the unfavorable side in addition to the positive side however overall i do have to say i am overly delighted with them and if you are searching for a 2nd brokerage account or our 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
comment and follow the actions there you do in fact get lifetime access to our lwt etoro discord so you can communicate with other investors directly even if you do open the account realize 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 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 somebody who has worked in finance for over 15 years etoro are going about it properly they are managed in various jurisdictions and they are broadening at the right rate making sure all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for instance 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 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 approximately is really an excellent sign for me due to the fact that they’re ensuring they do not have a scenario where they leave themselves open to suits or they ruin with regulation it appears every second week robin hood has some lawsuit or some big problem they have to deal with we have crypto brokers like binance over in the uk facing major problem with the fca and the regulation there it seems that etoro are taking the best steps initially before they launch ensuring that the customers remain in the safest possible position and they don’t leave themselves open i need to state this is a terrific sign for a modern brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern commission free platform more on that later going the ideal actions making sure 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 wanting to stick around for the long term and they have clear goals of growing to be one of the greatest brokerages worldwide now the minimum amount required to open an account does vary on where you lie on screen now you can see the minimums available but if you are from the us or the uk
the minimum to open an account is in fact 10 dollars and a great deal of other countries it’s just fifty dollars so you can go ahead check 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 totally free brokerage but of course brokers want to make money so how the hell do they do that well the very first obvious charge is if you take money out of your account there’s a five dollars cost however to be truthful that probably gets involved transaction charges and he toro most likely 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 buy a stock and when you sell a stock there’s a little difference in between typically it’s just a really little fee which is called the spread that is the fee that etoro will possibly keep on this trade that’s how they make money because they are not charging you a commission to open the trade they’re simply opening the trade at a slightly greater cost and the easiest way of describing this is if you purchased say 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 which percentage loss is just how much it cost you to open that trade or you can even really go and see the dollar cost of just how much it roughly cost you to open stated trade nevertheless after utilizing this platform for a very long time when you close the trade too there is a minor difference and what happens here is etoro tends to compute the difference which is how much they’ve 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 however this is the typical standard structure these days for a lot 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 bank account or a few of the other advanced platforms and you will get charged a repaired charge per trade but for me personally i believe for newer financiers particularly this is a much cheaper way of doing things now what does etoro need to use well they offer stocks etfs cryptocurrency cfds more on that in just a second copy trading and numerous many more assets like commodities and forex or currencies but having a platform that enables you to trade numerous sectors is certainly useful 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 aspects readily available with this platform and i feel in the modern day world we live in currency commodities things of the sort are certainly more needed in brokerage homes especially for the brand-new financier however i did mention cfds though which is a contract for difference these are generally agreements that brokerage or other institutions can provide a customer to buy a company usually it’s a method of having a lot more leverage without actually owning any of the stock you are earning a contract with said organization now cfds are really not readily available to people in the us but they are readily available to individuals over in europe and in the uk however i need to state given the scariness of leverage and more than 60
of people trading cfds lose cash i simply totally keep away from cfds specifically if you are a newer or intermediate investor and on that as well just keep away from take advantage of it’s not actually good for your portfolio now before we carry on to the two most popular things with etoro and things that individuals tend to enjoy the most we need to talk about the stocks etfs and products now this is the most significant issue etoro has in my viewpoint and they are taking a look at altering this really soon in fact i think it is among their greatest 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 adding them at a fairly slow rate they do not want to add every penny stock under the sun that no one’s in fact trading like i stated they make their money on the spread out so the more individuals trading a stock the more cash they make if they added in a low-cap penny stock that only one person’s trading every single day they’re not going to make that much money so they are just including stocks that they feel that a helpful and b well less risky i in fact see this as a 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 want to trade or at least take a look at and not on the platform now that stated i have actually spoken to etoro on this and they have guaranteed 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 might not even be that appropriate but i’m sure if you are a torah user and enjoying this it can be irritating that possibly one out of 10 stocks is actually not available on the platform so let’s hope etoro sees this video and it changes 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. 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 want to trade stocks and cryptocurrencies in the exact same place: Robinhood uses trading in stocks and alternatives, consisting of fractional shares. In addition, it provides 7 various cryptocurrencies and charges no deal fees.