so i’ve been using etoro for a number of years now…best etoro crypto trader… and i have to state given that my last etoro review video the platform itself has altered a hell of a lot i thought what better opportunity with the new year to give a new review on etoro talk about the assets the bad points and the things that etoro frantically needs to improve on if it is indeed 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 an option then this video is for you all i ask in return is if you find this video beneficial you carefully 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 wish 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 several years nevertheless i do feel there is many locations that etor desperately needs to improve on if it is undoubtedly to compete and i’ll be quite severe in slamming them in this video i seem like it’s only fair as someone who does use etoro daily to provide the severe and honest truth on the negative side in addition to the positive side however general i do have to say i am extremely happy with them and if you are looking for a second brokerage account or our new investor i would simply state jump in the minimums are quite low give it a whirl and see if it fits your needs and if you do so via the affiliate link down on the pinned
remark and follow the steps there you do actually get lifetime access to our lwt etoro discord so you can engage with other investors straight even if you do open the account recognize it’s not for you that chat room is readily available for you simply 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 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 greatest game changer for this company i have to say myself as somebody who has actually worked in finance for over 15 years etoro are setting about it the right way they are regulated in many different jurisdictions and they are expanding at the best rate ensuring all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for instance they are managed with the fca over in the uk sysek over in cyprus they’re controlled in australia and of course they are on the finra website over in the us as i stated u.s stock trading is coming very soon nevertheless the truth 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 really a good sign for me since they’re making certain they do not have a circumstance where they leave themselves open to lawsuits or they mess up with guideline it appears every second week robin hood has some lawsuit or some big complaint they need to deal with we have crypto brokers like binance over in the uk dealing with serious problem with the fca and the guideline there it appears that etoro are taking the best steps first prior to they introduce making certain that the customers remain in the safest possible position and they don’t leave themselves open i have to say this is a terrific sign for a contemporary brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern commission free platform more on that later going the right steps ensuring that all the eyes are dotted or the t’s are crossed before they open in any area they are actually operating in this reveals me that etoro is looking to stay for the long term and they have clear goals of growing to be one of the biggest brokerages on the planet now the minimum amount required to open an account does vary on where you lie 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 in fact ten dollars and a great deal of other countries it’s just fifty dollars so you can proceed examine this link it will remain 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 free brokerage but of course brokers want to generate income 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 however to be truthful that probably gets wrapped up in deal charges 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 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 normally it’s simply a very 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 simply opening the trade at a somewhat higher cost and the most convenient way of describing this is if you purchased state apple in this example on screen from time to time you instantly put it in your portfolio you will see a minor loss on this trade week one day one minute one 2nd one which portion loss is how much it cost you to open that trade or you can even in fact go and see the dollar charge of just how much it approximately cost you to open stated trade nevertheless after using this platform for a very long time when you close the trade too there is a small distinction and what happens here is etoro tends to calculate the difference which is how much they’ve made i have actually tracked this for a very long time and seen that
when i actually do close a trade rather a lot of the time the cost that i get charged is a lot less than the preliminary charge that i had for opening the trade itself but this is the normal basic 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 bank account or a few of the other more advanced platforms and you will get charged a fixed cost per trade but for me personally i believe for more recent financiers especially this is a much cheaper way of doing things now what does etoro have to offer well they offer stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and lots of a lot more possessions like commodities and forex or currencies but having a platform that permits you to trade numerous sectors is definitely useful for instance you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is many different aspects available with this platform and i feel in the modern world we live in currency products things of the sort are certainly more needed in brokerage houses particularly for the brand-new financier nevertheless i did mention cfds though which is a contract for difference these are essentially contracts that brokerage or other organizations can use a client to buy a company normally it’s a method of having a lot more leverage without really owning any of the stock you are making a contract with stated organization now cfds are actually not readily available to people in the us but they are offered to individuals over in europe and in the uk but i need to state provided the scariness of utilize and more than 60
of individuals trading cfds lose cash i simply completely stay away from cfds particularly if you are a newer or intermediate financier and on that also simply stay away from take advantage of it’s not actually helpful for your portfolio now before we carry on to the two most popular things with etoro and things that people tend to like the most we need to talk about the stocks etfs and commodities now this is the biggest issue etoro has in my opinion and they are taking a look at altering this really soon in fact i believe it is among their most significant objectives 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 actually trading like i said they make their money on the spread out so the more people 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 cash so they are only adding stocks that they feel that a helpful and b well less risky i really see this as a little bit of a favorable for new financiers although for someone like myself who’s had a lot more
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experience it is quite annoying that some of the stocks that i do wish to trade or at least look at and not on the platform now that said i have spoken with etoro on this and they have 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 appropriate however i’m sure if you are a torah user and viewing this it can be irritating that maybe one out of 10 stocks is really not offered on the platform so let’s hope etoro watches this video and it alters really soon now the two most popular things on etoro is the social platform and the popular investing program
Just available 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 customers 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 alternatives, consisting of fractional shares. In addition, it uses 7 various cryptocurrencies and charges no deal costs.