so i’ve been using etoro for several years now…How To Do A Straddle On Etoro… and i have to state since my last etoro review video the platform itself has changed a hell of a lot i thought what better chance with the brand-new year to provide a new review on etoro speak about the assets the bad points and the things that etoro desperately needs to improve on if it is indeed to take on the similarity robin hood when it opens stock trading in the us so if you are brand-new to investing or are simply searching for a brand-new brokerage account and etoro is a choice then this video is for you all i ask in return is if you discover this video beneficial you gently tap that like button to help me out with the youtube gods and without additional ado let’s proceed with the video so right off the bat i want to clarify etoro is not the sole brokerage account i use i do have a number of accounts of them and i have actually utilized them for a number of years however i do feel there is numerous areas that etor desperately needs to improve on if it is certainly to compete and i’ll be rather extreme in criticizing them in this video i feel like it’s just fair as somebody who does utilize etoro daily to provide the sincere and severe fact on the unfavorable side in addition to the positive side nevertheless general i do need to state i am extremely happy with them and if you are searching for a 2nd brokerage account or our new investor i would simply say jump in the minimums are rather low offer it a whirl 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 really get life time access to our lwt etoro discord so you can engage 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 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 business i need to state myself as someone who has worked in financing for over 15 years etoro are going about it properly they are controlled in various jurisdictions and they are broadening at the ideal 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 managed in australia and naturally they are on the finra website over in the us as i said u.s stock trading is coming very soon however the fact that they are taking their time over in
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the us before they introduce stock trading over the last year or so is in fact a great sign for me due to the fact that they’re making sure they do not have a scenario where they leave themselves open to lawsuits or they ruin with guideline it seems every second week robin hood has some lawsuit or some big grievance they have to handle we have crypto brokers like binance over in the uk dealing with severe trouble with the policy and the fca there it seems that etoro are taking the ideal actions first before they release making sure that the clients remain in the safest possible position and they don’t leave themselves open i have to state this is an excellent 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 right actions making certain that all the eyes are dotted or the t’s are crossed prior to they open in any location they are really working in this reveals me that etoro is wanting to stay for the long term and they have clear aims of growing to be among the biggest brokerages worldwide 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 but if you are from the us or the uk
the minimum to open an account is really ten dollars and a great deal of other nations it’s just 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 said etoro is a commission free brokerage but obviously brokers wish to earn 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 5 bucks cost but to be honest that probably gets wrapped up in transaction costs 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 a lot of brokers these days 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 typically it’s simply an extremely small cost and that is called the spread that is the cost that etoro will potentially keep 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 slightly higher price and the simplest way of describing this is if you bought state 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 and that percentage loss is just how much it cost you to open that trade or you can even actually see the dollar and go cost of how much it roughly 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 occurs here is etoro tends to calculate the difference which is just how much they’ve made i have actually tracked this for a long time and seen that
when i actually do close a trade quite a lot of the time the fee that i get charged is a lot less than the initial cost that i had for opening the trade itself but this is the typical standard structure these days for a lot of brokers that provide commission open markets if you don’t want to pay a spread you can go and open an interactive brokers account a saxo bank account or some of the other advanced platforms and you will get charged a repaired cost per trade but for me personally i think for more recent investors especially this is a more affordable way of doing things now what does etoro need to offer well they provide stocks etfs cryptocurrency cfds more on that in simply a second copy trading and many much more properties like products and foreign exchange or currencies but having a platform that allows you to trade several sectors is absolutely beneficial 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 aspects available with this platform and i feel in the modern day world we live in currency commodities things of the sort are absolutely more needed in brokerage houses specifically for the brand-new investor nevertheless i did point out cfds though which is a contract for difference these are basically contracts that brokerage or other organizations can offer a customer to buy a company usually it’s a way of having a lot more utilize without in fact owning any of the stock you are making a contract with said institution now cfds are in fact not readily available to people in the us but they are offered to people over in europe and in the uk but i need to say given the scariness of take advantage of and more than 60
of individuals trading cfds lose money i simply completely stay away from cfds particularly if you are a more recent or intermediate investor and on that also just keep away from leverage it’s not really great for your portfolio now before we carry on to the two most popular things with etoro and things that people tend to enjoy the most we need to discuss the stocks etfs and commodities now this is the biggest problem etoro has in my opinion and they are taking a look at changing this really very soon in fact i believe it’s one of their greatest goals for 2022. now although etoro tends to have most the stocks that you wish to trade or etfs they do not have them all and they are adding them at a fairly sluggish 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 out 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 every single day they’re not going to make that much money so they are only adding stocks that they feel that an useful and b well less dangerous i really see this as a little bit of a positive for brand-new investors although for someone 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 wish to trade or a minimum of take a look at and not on the platform now that stated i have actually talked to etoro on this and they have actually promised 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 relevant however i make certain if you are a torah user and watching this it can be frustrating that maybe one out of 10 stocks is really not readily available 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 popular investing and the social platform program
Just 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 currently can not trade with eToro.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the same location: Robinhood uses trading in stocks and alternatives, consisting of fractional shares. In addition, it offers 7 different cryptocurrencies and charges no deal costs.