so i have actually been using etoro for a number of years now…bourse etoro… and i need to say since my last etoro review video the platform itself has altered a hell of a lot i believed what much better chance with the brand-new year to offer a new review on etoro talk about the good points the bad points and the important things that etoro frantically needs to improve on if it is certainly to take on the likes of robin hood when it opens stock trading in the us so if you are brand-new to investing or are just trying to find 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 advantageous you gently tap that like button to assist 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 numerous accounts of them and i have utilized them for a number of years nevertheless i do feel there is lots of areas that etor desperately requires to improve on if it is certainly to complete and i’ll be quite harsh in slamming them in this video i feel like it’s only fair as somebody who does utilize etoro on a daily basis to give the severe and truthful fact on the unfavorable side in addition to the positive side however overall i do have to say i am extremely pleased with them and if you are trying to find a 2nd brokerage account or our brand-new investor i would just say jump in the minimums are quite low offer 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
remark and follow the steps there you do actually get life time access to our lwt etoro discord so you can interact with other investors directly 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 business i have to state myself as somebody who has operated in financing for over 15 years etoro are tackling it properly they are regulated in many different jurisdictions and they are expanding at the ideal speed 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 naturally they are on the finra site over in the us as i stated u.s stock trading is coming soon however the fact that they are taking their time over in
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the us prior to they launch stock trading over the in 2015 approximately is actually a great sign for me due to the fact that they’re making certain they don’t have a situation where they leave themselves open to claims or they ruin with guideline it seems every second week robin hood has some lawsuit or some huge complaint they have to deal with we have crypto brokers like binance over in the uk facing major problem with the regulation and the fca there it appears that etoro are taking the ideal actions initially prior to they introduce making certain that the clients are in the best possible position and they don’t leave themselves open i need to say this is a fantastic sign for a modern brokerage with an app unlike the old standard saxo bank and interactive brokers a modern day 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 before they open in any area they are in fact operating in this shows me that etoro is looking to stay for the long term and they have clear objectives of growing to be one of the greatest brokerages on the planet now the minimum quantity needed to open an account does vary on where you are located on screen now you can see the minimums offered but if you are from the us or the uk
the minimum to open an account is really ten dollars and a lot of other countries it’s only fifty dollars so you can go ahead check 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 said etoro is a commission totally free brokerage however of course brokers want to make 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 five dollars charge but to be truthful that most likely gets wrapped up in deal costs 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 most brokers these days 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 difference in between generally it’s simply a really little fee and that 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 simply opening the trade at a slightly higher rate and the easiest way of describing this is if you purchased say apple in this example on screen from time to time 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 in fact go and see the dollar cost of just how much it roughly cost you to open said trade however after utilizing this platform for a long period of time when you close the trade as well there is a minor distinction and what takes place here is etoro tends to compute the difference and that is how much they have actually made i have actually tracked this for a long time and seen that
when i in fact do close a trade rather a great deal of the time the cost that i get charged is a lot less than the preliminary cost that i had for opening the trade itself however this is the normal basic structure nowadays for a great deal of brokers that use commission open markets if you don’t wish to pay a spread you can go and open an interactive brokers account a saxo savings account or some of the other more advanced platforms and you will get charged a fixed charge per trade but for me personally i think for newer investors specifically this is a much cheaper way of doing things now what does etoro have to offer well they use stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and many a lot more possessions like commodities and forex or currencies but having a platform that permits you to trade multiple sectors is definitely beneficial for instance you can short bitcoin and go long silver you might likewise 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 live in currency commodities things of the sort are certainly more needed in brokerage houses particularly for the brand-new financier however i did point out cfds though which is a contract for difference these are basically agreements that brokerage or other organizations can use a customer to buy a business usually it’s a way of having a lot more take advantage of without really owning any of the stock you are making an agreement with said organization now cfds are really not offered to people in the us but they are readily available to people over in europe and in the uk but i need to say offered the scariness of utilize and more than 60
of people trading cfds lose cash i simply totally stay away from cfds specifically if you are a more recent or intermediate investor and on that also simply stay away from take advantage of it’s not truly good for your portfolio now before we carry on to the two most popular things with etoro and things that people tend to love the most we require to speak about the stocks etfs and products now this is the greatest issue etoro has in my opinion and they are looking at changing this very very soon in fact i think it’s one of their biggest 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 reasonably slow rate they do not want to add every cent stock under the sun that nobody’s actually trading like i said they make their money on the spread so the more individuals trading a stock the more cash they make if they included 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 including stocks that they feel that an advantageous and b well less dangerous i actually see this as a little bit of a positive for new investors 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 a minimum of look at and not on the platform now that said i have talked to 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 may not even be that relevant but i make sure if you are a torah user and enjoying this it can be frustrating that perhaps one out of 10 stocks is really not available on the platform so let’s hope etoro enjoys 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. citizens can sign up for a virtual trading account. Nevertheless, there are only 43 states (along with Washington D.C. and the Northern Mariana Islands) where you can use real cash to buy and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York City, Nevada, and Tennessee customers presently can not trade with eToro. The company intends to have 50-state accessibility eventually. Up until then, some traders will need to look elsewhere.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the very same location: Robinhood uses trading in stocks and alternatives, including fractional shares. In addition, it uses 7 different cryptocurrencies and charges no transaction fees.