so i’ve been using etoro for numerous years now…Tony Robbins Etoro… and i need to state considering that my last etoro evaluation video the platform itself has changed a hell of a lot i thought what much better opportunity with the new year to offer a brand-new evaluation on etoro discuss the good points the bad points and the things that etoro desperately needs to improve on if it is indeed 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 an option then this video is for you all i ask in return is if you find this video beneficial you gently tap that like button to assist me out with the youtube gods and without additional ado let’s get on with the video so right off the bat i want to clarify etoro is not the sole brokerage account i use i do have a number of accounts of them and i have used them for a number of years nevertheless i do feel there is numerous areas that etor desperately requires to improve on if it is certainly to complete and i’ll be rather harsh in slamming them in this video i seem like it’s just fair as somebody who does use etoro daily to provide the honest and severe reality on the unfavorable side along with the positive side nevertheless general i do need to state i am extremely pleased with them and if you are looking for a 2nd brokerage account or our new financier i would just say jump in the minimums are quite low provide 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 actually get lifetime access to our lwt etoro discord so you can interact with other investors straight even if you do open the account realize it’s not for you that chat room is easily offered 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 outright 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 say myself as someone who has operated in finance for over 15 years etoro are going about it the proper way they are managed in many different jurisdictions and they are expanding at the ideal pace making sure all the eyes are dotted all the t’s are crossed before 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 obviously they are on the finra website 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 release stock trading over the last year or so is really a great sign for me because they’re making sure they don’t have a circumstance where they leave themselves open to suits or they mess up with guideline it appears every second week robin hood has some court case or some huge complaint they need to deal with we have crypto brokers like binance over in the uk facing serious difficulty with the fca and the policy there it appears that etoro are taking the best actions initially before they introduce making sure that the clients remain in the most safe possible position and they do not leave themselves open i have to state this is an excellent sign for a modern brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern commission totally free platform more on that later going the right steps making sure that all the eyes are dotted or the t’s are crossed prior to they open in any area they are in fact working in this reveals me that etoro is wanting to stick around for the long term and they have clear aims of growing to be among 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 actually 10 dollars and a lot of other countries it’s only fifty dollars so you can proceed 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 totally free brokerage however of course brokers wish to earn 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 5 bucks charge however to be honest that probably gets involved deal fees and he toro most likely doesn’t see that much of it the method 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 buy a stock and when you sell a stock there’s a little difference in between generally it’s simply an extremely small charge which is called the spread that is the charge that etoro will possibly 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 just opening the trade at a slightly higher price and the simplest method of describing this is if you purchased say apple in this example on screen now and then you quickly put it in your portfolio you will see a small 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 actually see the dollar and go cost of how much it roughly cost you to open stated trade however after utilizing this platform for a long period of time when you close the trade also there is a slight distinction and what takes place here is etoro tends to calculate the difference and that is just how much they have actually made i have tracked this for a long time and seen that
when i in fact do close a trade quite a great deal of the time the fee that i get charged is a lot less than the initial fee that i had for opening the trade itself but this is the normal standard structure these days for a lot of brokers that use commission free trades 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 repaired charge per trade but for me personally i believe for newer financiers specifically this is a much cheaper way of doing things now what does etoro need to use well they provide stocks etfs cryptocurrency cfds more on that in just a second copy trading and many many more possessions like commodities and forex or currencies however having a platform that enables you to trade numerous sectors is definitely helpful for example you can short bitcoin and go long silver you could likewise short the japanese yen and go long into gold there is various aspects readily available with this platform and i feel in the modern world we live in currency products things of the sort are absolutely more required in brokerage houses especially for the new investor however i did mention cfds though which is a contract for difference these are basically contracts that brokerage or other institutions can use a client to purchase a company generally it’s a method of having a lot more take advantage of without actually owning any of the stock you are earning an agreement with stated organization now cfds are actually not available to individuals in the us but they are offered to individuals over in europe and in the uk but i have to say provided the scariness of take advantage of 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 financier and on that as well simply stay away from leverage it’s not actually helpful for your portfolio now prior to we carry on to the two most popular things with etoro and things that people tend to like the most we need to speak about the stocks etfs and commodities now this is the biggest problem etoro has in my opinion and they are taking a look at altering this extremely soon in fact i believe 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 don’t have them all and they are adding them at a fairly sluggish rate they do not want to include every penny stock under the sun that nobody’s really trading like i said they make their money on the spread so the more people trading a stock the more money they make if they included a low-cap cent stock that only one person’s trading every single day they’re not going to make that much money so they are just including stocks that they feel that an useful and b well less dangerous i really see this as a bit of a positive for brand-new investors although for somebody like myself who’s had a lot more
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experience it is rather bothersome that a few 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 promised 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 appropriate but i’m sure if you are a torah user and viewing this it can be frustrating that possibly one out of 10 stocks is really not available on the platform so let’s hope etoro sees this video and it alters very very soon now the two most popular things on etoro is the social platform and the popular investing program
Just readily available in 43 states
All U.S. homeowners 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 utilize real cash to buy and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York City, Nevada, and Tennessee clients currently can not trade with eToro. The business aims to have 50-state schedule eventually. Up until then, some traders will need to look elsewhere.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the same place: Robinhood uses trading in stocks and alternatives, including fractional shares. In addition, it provides 7 various cryptocurrencies and charges no deal charges.