I have actually been using etoro for numerous years now and i have to state since my last etoro review video the platform itself has actually changed a hell of a lot i thought what much better chance with the brand-new year to provide a brand-new evaluation on etoro talk about the excellent points the bad points and the things that etoro desperately needs to enhance on if it is undoubtedly to compete 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 new brokerage account and etoro is a choice 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 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 use i do have a number of accounts of them and i have utilized them for a number of years nevertheless i do feel there is lots of locations that etor frantically needs to improve on if it is undoubtedly to complete and i’ll be quite severe in criticizing them in this video i feel like it’s only reasonable as someone who does use etoro on an everyday basis to provide the truthful and severe reality on the negative side as well as the positive side however general i do have to state i am extremely delighted with them and if you are looking for a second brokerage account or our new investor i would just say dive in the minimums are rather low give it a try and see if it fits your requirements and if you do so by means of the affiliate link down on the pinned
comment and follow the steps there you do really get lifetime access to our lwt etoro discord so you can interact with other financiers straight even if you do open the account recognize it’s not for you that chat room is readily available for you just 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 outright mega giant of a broker over here in europe and they will introduce stock trading in the us which i feel will be the most significant video game changer for this business i need to say myself as someone who has operated in finance for over 15 years etoro are setting about it the proper way they are managed in various jurisdictions and they are broadening at the right speed ensuring 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 launch stock trading over the last year or so is really a great sign for me due to the fact that they’re making sure they don’t have a situation where they leave themselves open to claims or they ruin with policy it seems every second week robin hood has some lawsuit or some big problem they need to deal with we have crypto brokers like binance over in the uk dealing with severe problem with the fca and the regulation there it seems that etoro are taking the best actions first before they introduce making sure that the customers are in the safest possible position and they don’t leave themselves open i need to say this is a terrific sign for a modern day 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 best actions ensuring that all the eyes are dotted or the t’s are crossed before they open in any location they are in fact working in this reveals me that etoro is looking to remain for the long term and they have clear goals of growing to be among the biggest brokerages in the world now the minimum amount needed to open an account does differ on where you are located on screen now you can see the minimums offered however if you are from the us or the uk
the minimum to open an account is really 10 dollars and a lot of other nations it’s only fifty dollars so you can go ahead 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 stated etoro is a commission free brokerage but of course brokers want to earn money so how the hell do they do that well the first obvious fee is if you take cash out of your account there’s a 5 bucks charge 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 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 offer a stock there’s a little difference in between typically it’s simply a very little charge which 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 just opening the trade at a slightly higher cost and the simplest method 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 small 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 drop in the dollar cost of just 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 small difference and what occurs here is etoro tends to compute the distinction and that is just how much they have actually made i have tracked this for a long period of time and seen that
when i in fact do close a trade quite a lot of the time the cost that i get charged is a lot less than the initial fee that i had for opening the trade itself but this is the regular basic structure nowadays for a lot 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 bank account or a few of the other more advanced platforms and you will get charged a fixed charge per trade but for me personally i think for more recent financiers particularly this is a more affordable way of doing things now what does etoro need to provide well they offer stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and many much more possessions like products and forex or currencies however having a platform that allows you to trade several sectors is absolutely useful for example you can short bitcoin and go long silver you could likewise short the japanese yen and go long into gold there is several elements offered with this platform and i feel in the contemporary world we live in currency commodities things of the sort are absolutely more needed in brokerage houses particularly for the new investor nevertheless i did point out cfds though which is a contract for difference these are essentially agreements that brokerage or other institutions can offer a client to purchase a company generally it’s a method of having a lot more utilize without in fact owning any of the stock you are making a contract with said organization now cfds are actually not readily available to individuals in the us but they are readily available to individuals over in europe and in the uk however i need to say provided the scariness of take advantage of and more than 60
of people trading cfds lose money i just completely keep away from cfds particularly if you are a more recent or intermediate financier and on that as well simply keep away from take advantage of it’s not truly helpful for your portfolio now before we proceed 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 greatest issue etoro has in my opinion and they are taking a look at changing this extremely very soon in fact i believe 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 do not have them all and they are adding them at a reasonably sluggish rate they do not wish to include every cent stock under the sun that no one’s in fact trading like i said they make their money on the spread out so the more individuals trading a stock the more money they make if they added in 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 just adding stocks that they feel that an advantageous and b well less dangerous i really 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 bothersome that a few 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 spoken with 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 relevant but i’m sure if you are a torah user and seeing this it can be frustrating that possibly one out of 10 stocks is actually not offered on the platform so let’s hope etoro sees this video and it alters extremely very 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. citizens can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee clients currently can not trade with eToro.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the same place: Robinhood provides trading in stocks and choices, including fractional shares. In addition, it uses 7 various cryptocurrencies and charges no deal charges.