so i have actually been using etoro for a number of years now…Use Python To Get Data From Etoro… and i need to say considering that my last etoro review video the platform itself has actually changed a hell of a lot i thought what much better chance with the new year to give a new evaluation on etoro discuss the good points the bad points and the things that etoro frantically needs to improve 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 brand-new to investing or are simply trying to find a new brokerage account and etoro is an alternative then this video is for you all i ask in return is if you discover this video advantageous you gently tap that like button to help me out with the youtube gods and without further ado let’s proceed with the video so right off the bat i wish to clarify etoro is not the sole brokerage account i utilize i do have several accounts of them and i have used them for numerous years nevertheless i do feel there is numerous areas that etor frantically needs to improve on if it is indeed to contend and i’ll be rather harsh in slamming them in this video i seem like it’s only fair as someone who does use etoro daily to provide the harsh and sincere reality on the negative side along with the positive side nevertheless general i do have to state i am extremely delighted with them and if you are searching for a 2nd brokerage account or our brand-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 via 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 communicate with other investors directly even if you do open the account realize it’s not for you that chat room is easily 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 are about to launch stock trading in the us which i feel will be the most significant game changer for this business i need to state myself as somebody who has actually operated in financing for over 15 years etoro are setting about it the proper way they are managed in many different jurisdictions and they are expanding at the best speed making certain 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 said 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 launch stock trading over the last year or two is in fact a great sign for me because they’re making sure they don’t have a situation where they leave themselves open to lawsuits or they screw up with regulation it seems every second week robin hood has some lawsuit or some huge problem they need to handle we have crypto brokers like binance over in the uk facing major problem with the fca and the regulation there it appears that etoro are taking the ideal actions first prior to they release making certain that the customers remain in the most safe possible position and they do not leave themselves open i have to say this is a great sign for a modern brokerage with an app unlike the old traditional saxo bank and interactive brokers a contemporary commission complimentary platform more on that later going the best steps ensuring that all the eyes are dotted or the t’s are crossed before they open in any area they are really working in this shows me that etoro is looking to stick around for the long term and they have clear objectives of growing to be one of the most significant brokerages on the planet now the minimum amount required to open an account does differ on where you are located 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 really ten dollars and a great deal of other nations it’s just fifty dollars so you can go on inspect this link it will be in the description and see just how much it costs to open an account with etoro in your jurisdiction now like i stated etoro is a commission complimentary brokerage but naturally brokers wish to generate income so how the hell do they do that well the first obvious cost is if you take cash out of your account there’s a five dollars charge however to be sincere that most likely gets wrapped up in deal costs and he toro probably does not see that much of it the way they make their cash 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 purchase a stock and when you sell a stock there’s a little distinction in between usually it’s simply a really small fee which is called the spread that is the cost that etoro will potentially continue this trade that’s how they earn money due to the fact that they are not charging you a commission to open the trade they’re just opening the trade at a somewhat higher price and the easiest way of describing this is if you purchased say apple in this example on screen now and then 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 percentage loss is just how much it cost you to open that trade or you can even actually go and see the dollar fee of just how much it approximately cost you to open said trade nevertheless after using this platform for a long time when you close the trade also there is a minor distinction and what takes place here is etoro tends to compute the distinction and that is just how much they’ve made i have tracked this for a long time and seen that
when i in fact do close a trade quite a lot of the time the fee that i get charged is a lot less than the initial charge that i had for opening the trade itself however this is the regular standard structure nowadays for a great deal 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 advanced platforms and you will get charged a repaired fee per trade but for me personally i think for newer investors specifically this is a more affordable method of doing things now what does etoro need to provide well they offer stocks etfs cryptocurrency cfds more on that in simply a second copy trading and numerous many more properties like commodities and foreign exchange or currencies however having a platform that enables you to trade multiple sectors is absolutely useful for example you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is several aspects offered 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 particularly for the new financier nevertheless i did mention cfds though which is a contract for difference these are basically contracts that brokerage or other organizations can provide a customer to purchase a company normally it’s a way of having a lot more leverage without in fact owning any of the stock you are earning an agreement with said institution now cfds are really not readily available to people in the us however they are offered to individuals over in europe and in the uk but i need to state given the scariness of utilize and more than 60
of people trading cfds lose cash i just entirely stay away from cfds specifically if you are a more recent or intermediate financier and on that also just keep away from leverage it’s not actually great for your portfolio now prior to we move on to the two most popular things with etoro and things that people tend to enjoy the most we require to speak about the stocks etfs and commodities now this is the most significant issue etoro has in my opinion and they are taking a look at changing this 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 don’t have them all and they are adding them at a fairly slow rate they do not want to include every cent stock under the sun that nobody’s in fact trading like i said they make their money on the spread so the more people trading a stock the more cash they make if they included a low-cap penny stock that only one individual’s trading 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 risky i actually see this as a 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 annoying that a few of the stocks that i do want to trade or at least look at and not on the platform now that stated i have talked 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 may not even be that appropriate but i’m sure if you are a torah user and watching this it can be bothersome that maybe one out of 10 stocks is in fact not readily available on the platform so let’s hope etoro views this video and it alters very 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. locals can register for a virtual trading account. There are just 43 states (along with Washington D.C. and the Northern Mariana Islands) where you can use genuine money to buy and offer cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York City, Nevada, and Tennessee clients presently can not trade with eToro. The company intends to have 50-state availability eventually. Until then, some traders will need to look in other places.
Alternatives to think about
If you want to trade stocks and cryptocurrencies in the very same location: Robinhood offers trading in stocks and choices, including fractional shares. In addition, it offers 7 different cryptocurrencies and charges no deal charges.