so i have actually been utilizing etoro for several years now…etoro recuperer son argent… and i need to say since my last etoro review video the platform itself has changed a hell of a lot i thought what much better chance with the brand-new year to provide a brand-new review on etoro discuss the assets the bad points and the important things that etoro frantically requires to improve on if it is undoubtedly to compete with the similarity robin hood when it opens stock trading in the us so if you are brand-new to investing or are just 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 helpful you carefully tap that like button to assist me out with the youtube gods and without further 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 several accounts of them and i have used them for numerous years nevertheless i do feel there is many areas that etor desperately needs to improve on if it is indeed to complete and i’ll be quite severe in criticizing them in this video i seem like it’s just reasonable as someone who does use etoro daily to offer the extreme and honest reality on the negative side as well as the positive side nevertheless total i do need to say i am overly happy with them and if you are trying to find a 2nd brokerage account or our new investor i would simply state jump in the minimums are quite low give it a try and see if it fits your needs and if you do so through the affiliate link down on the pinned
remark and follow the actions there you do really get lifetime access to our lwt etoro discord so you can connect with other investors directly even if you do open the account realize it’s not for you that chatroom is readily available for you simply follow the steps down on the pinned remarks let’s start about who etoro is and what they’re about they are an absolute 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 have to say myself as someone who has actually worked in finance for over 15 years etoro are going about it properly they are managed in several jurisdictions and they are broadening at the best rate making sure all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for instance they are controlled with the fca over in the uk sysek over in cyprus they’re regulated in australia and of course 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 approximately is in fact a good sign for me since they’re ensuring they don’t have a scenario where they leave themselves open to suits or they ruin with policy 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 dealing with serious difficulty with the regulation and the fca there it seems that etoro are taking the right steps initially prior to they release ensuring that the clients remain in the best possible position and they do not leave themselves open i have to say this is an excellent sign for a contemporary brokerage with an app unlike the old conventional saxo bank and interactive brokers a contemporary commission free platform more on that later going the ideal actions making certain that all the eyes are dotted or the t’s are crossed before they open in any area they are really operating in this reveals me that etoro is seeking to remain for the long term and they have clear objectives of growing to be one of the greatest brokerages worldwide now the minimum amount needed to open an account does vary on where you lie 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 in fact ten dollars and a great deal of other nations it’s just fifty dollars so you can proceed examine this link it will remain 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 however obviously brokers wish to generate income so how the hell do they do that well the first obvious charge is if you take cash out of your account there’s a five dollars fee however to be sincere that probably gets wrapped up in transaction costs and he toro most likely does not see that much of it the method 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 distinction in between typically it’s just a very small cost and that is called the spread that is the cost that etoro will possibly continue this trade that’s how they earn money since they are not charging you a commission to open the trade they’re simply opening the trade at a slightly higher cost and the simplest way of explaining this is if you purchased say apple in this example on screen now and then you immediately put it in your portfolio you will see a minor loss on this trade week one day one minute one 2nd 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 how much it approximately cost you to open stated trade however after using this platform for a very long time when you close the trade as well there is a slight difference and what occurs here is etoro tends to compute the distinction which is how much they’ve made i have actually tracked this for a very long time and seen that
when i in fact do close a trade rather a lot of the time the cost that i get charged is a lot less than the initial charge that i had for opening the trade itself but this is the typical standard structure these days for a great deal of brokers that use commission free trades if you do not wish to pay a spread you can go and open an interactive brokers account a saxo savings 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 need to provide well they provide stocks etfs cryptocurrency cfds more on that in simply a second copy trading and many much more possessions like products and forex or currencies but having a platform that enables you to trade numerous sectors is certainly beneficial for example you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is various aspects offered with this platform and i feel in the modern day world we live in currency products things of the sort are definitely more required in brokerage houses specifically for the new investor nevertheless i did mention cfds though which is a contract for distinction these are basically agreements that brokerage or other institutions can use a customer to buy a business normally it’s a way of having a lot more take advantage of without really owning any of the stock you are earning a contract with stated organization now cfds are really not readily available to individuals in the us however they are readily available to individuals over in europe and in the uk however i need to state offered the scariness of take advantage of and more than 60
of individuals trading cfds lose money i simply entirely keep away from cfds particularly if you are a newer or intermediate financier and on that also just keep away from utilize it’s not really good for your portfolio now before we move on to the two most popular things with etoro and things that individuals tend to love the most we need to talk about the stocks etfs and products now this is the greatest issue etoro has in my opinion and they are taking a look at changing this really very soon in fact i think it’s one of their greatest objectives for 2022. now although etoro tends to have most the stocks that you want to trade or etfs they do not have them all and they are including them at a reasonably sluggish rate they do not want to add every penny stock under the sun that nobody’s really trading like i said they make their cash on the spread out so the more individuals trading a stock the more money they make if they added in a low-cap penny stock that only one individual’s trading every day they’re not going to make that much cash so they are just including stocks that they feel that a helpful and b well less dangerous i actually 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 rather irritating that some of the stocks that i do want to trade or at least look at and not on the platform now that stated i have spoken to etoro on this and they have actually assured 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 pertinent however i make sure if you are a torah user and watching this it can be irritating that maybe one out of 10 stocks is really not offered on the platform so let’s hope etoro views 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. locals can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee consumers currently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the exact same place: Robinhood uses trading in stocks and options, consisting of fractional shares. In addition, it offers 7 various cryptocurrencies and charges no transaction fees.