so i have actually been using etoro for several years now…geb√ºhren bei etoro… and i have to say because my last etoro evaluation video the platform itself has actually changed a hell of a lot i thought what much better chance with the brand-new year to give a brand-new review on etoro speak about the assets the bad points and the things that etoro frantically needs to improve on if it is indeed 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 simply searching for a brand-new brokerage account and etoro is an option then this video is for you all i ask in return is if you discover this video helpful you gently tap that like button to help 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 several accounts of them and i have actually used them for several years nevertheless i do feel there is many areas that etor desperately needs to improve on if it is undoubtedly to compete and i’ll be rather extreme in slamming them in this video i feel like it’s only fair as somebody who does use etoro on a daily basis to give the truthful and harsh fact on the unfavorable side in addition to the positive side however general i do have to state i am overly happy with them and if you are looking for a 2nd brokerage account or our brand-new investor i would just say jump in the minimums are rather low offer it a whirl and see if it fits your needs and if you do so through the affiliate link down on the pinned
comment and follow the actions there you do really get lifetime access to our lwt etoro discord so you can communicate with other investors straight even if you do open the account recognize it’s not for you that chatroom is readily offered for you just follow the steps down on the pinned remarks let’s start about who etoro is and what they’re about they are an outright mega giant of a broker over here in europe and they are about to release stock trading in the us which i feel will be the biggest game changer for this company i need to state myself as someone who has actually worked in finance for over 15 years etoro are going about it the proper way they are managed in several jurisdictions and they are broadening at the ideal rate ensuring all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for instance they are regulated with the fca over in the uk sysek over in cyprus they’re managed in australia and of course they are on the finra site over in the us as i said u.s stock trading is coming 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 or two is really a good sign for me because they’re making certain they do not have a circumstance where they leave themselves open to claims or they ruin with guideline it appears every second week robin hood has some court case or some big grievance they have to deal with we have crypto brokers like binance over in the uk dealing with major problem with the policy and the fca there it seems that etoro are taking the right steps initially prior to they release ensuring that the customers are in the safest possible position and they do not leave themselves open i have to say this is a great sign for a contemporary 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 ideal steps making sure that all the eyes are dotted or the t’s are crossed before they open in any area they are actually operating in this shows me that etoro is seeking to remain for the long term and they have clear objectives of growing to be among the most significant brokerages worldwide now the minimum quantity needed to open an account does vary on where you are located on screen now you can see the minimums available however if you are from the us or the uk
the minimum to open an account is in fact 10 dollars and a lot of other countries it’s just fifty dollars so you can go ahead inspect 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 totally free brokerage however of course brokers want to make money so how the hell do they do that well the first obvious fee is if you take money out of your account there’s a five dollars fee but to be truthful that most likely gets wrapped up in transaction costs and he toro probably doesn’t see that much of it the way they make their cash is on something called a spread if you go onto the majority of 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 difference in between typically it’s simply a very small cost which is called the spread that is the fee that etoro will potentially keep on this trade that’s how they generate income due to the fact that they are not charging you a commission to open the trade they’re simply opening the trade at a somewhat higher price and the easiest method of describing this is if you bought state apple in this example on screen now and then you instantly put it in your portfolio you will see a minor loss on this trade week one day one minute one second one which portion loss is just how much it cost you to open that trade or you can even actually see the dollar and go cost of just how much it roughly 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 small distinction and what happens here is etoro tends to compute the distinction and that is just how much they have actually 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 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 normal standard structure these days for a lot of brokers that use commission open markets if you don’t want to pay a spread you can go and open an interactive brokers account a saxo bank account or some of the other more advanced platforms and you will get charged a fixed fee per trade but for me personally i believe for newer financiers particularly this is a more affordable method of doing things now what does etoro have to provide well they use stocks etfs cryptocurrency cfds more on that in simply a second copy trading and lots of a lot more assets like products and forex or currencies however having a platform that enables you to trade numerous sectors is certainly useful for example you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is several elements readily available with this platform and i feel in the modern world we reside in currency products things of the sort are absolutely more required in brokerage homes particularly for the new investor however i did discuss cfds though which is a contract for distinction these are generally agreements that brokerage or other organizations can provide a client to buy a business generally it’s a way 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 available to people in the us but they are offered to individuals over in europe and in the uk however i need to state given the scariness of utilize and more than 60
of individuals trading cfds lose money i just completely keep away from cfds especially if you are a more recent or intermediate investor and on that too simply keep away from leverage it’s not really helpful for your portfolio now before we move on to the two most popular things with etoro and things that individuals tend to enjoy the most we need to talk about the stocks etfs and products now this is the most significant problem etoro has in my opinion and they are taking a look at changing this extremely very soon in fact i think it is among their most significant goals 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 relatively sluggish rate they do not wish to include every penny stock under the sun that nobody’s really trading like i stated they make their cash on the spread out so the more individuals trading a stock the more money they make if they included a low-cap penny stock that only one individual’s trading each and every single day they’re not going to make that much money so they are only including stocks that they feel that an useful and b well less dangerous i in fact see this as a little a positive 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 wish to trade or a minimum of take a look at and not on the platform now that said i have actually spoken to etoro on this and they have promised 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 appropriate however i’m sure if you are a torah user and seeing this it can be frustrating that maybe 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
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All U.S. homeowners 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 think about
If you want to trade stocks and cryptocurrencies in the very same place: Robinhood uses trading in stocks and alternatives, consisting of fractional shares. In addition, it uses 7 different cryptocurrencies and charges no transaction costs.