so i have actually been using etoro for a number of years now…etoro nederland… and i need to state since my last etoro evaluation video the platform itself has altered a hell of a lot i believed what much better opportunity with the brand-new year to give a brand-new evaluation on etoro speak about the assets 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 new to investing or are simply looking for a brand-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 help me out with the youtube gods and without additional ado let’s proceed with the video so right off the bat i wish to clarify etoro is not the sole brokerage account i utilize i do have several accounts of them and i have actually used them for a number of years however i do feel there is numerous locations that etor desperately needs to improve on if it is indeed to contend and i’ll be quite extreme in criticizing them in this video i feel like it’s just reasonable as someone who does utilize etoro every day to give the harsh and honest reality on the negative side along with the positive side nevertheless overall i do need to state i am overly happy with them and if you are searching for a 2nd brokerage account or our brand-new investor i would just say jump in the minimums are quite low provide it a try and see if it fits your requirements 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 directly even if you do open the account understand it’s not for you that chat room is easily 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 outright 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 state myself as someone who has operated in finance for over 15 years etoro are setting about it the proper way they are regulated in many different jurisdictions and they are broadening at the right 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 regulated with the fca over in the uk sysek over in cyprus they’re controlled in australia and obviously they are on the finra site over in the us as i stated u.s stock trading is coming very soon nevertheless the reality that they are taking their time over in
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the us before they release stock trading over the in 2015 approximately is actually a good sign for me since they’re making certain they don’t have a situation where they leave themselves open to lawsuits or they ruin with policy it seems every second week robin hood has some lawsuit or some big complaint they need to handle we have crypto brokers like binance over in the uk dealing with major difficulty with the fca and the guideline there it seems that etoro are taking the best steps first before they launch making sure that the customers are in the safest possible position and they do not leave themselves open i need to say this is a terrific sign for a contemporary brokerage with an app unlike the old standard saxo bank and interactive brokers a modern commission complimentary platform more on that later going the ideal steps making certain that all the eyes are dotted or the t’s are crossed prior to they open in any location they are in fact working in this reveals 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 amount needed to open an account does vary on where you are located on screen now you can see the minimums offered however if you are from the us or the uk
the minimum to open an account is really ten dollars and a great deal of other nations it’s only 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 stated etoro is a commission free brokerage however of course brokers want to make money so how the hell do they do that well the very first obvious charge is if you take cash out of your account there’s a 5 bucks fee but to be sincere that probably gets involved transaction fees and he toro probably doesn’t see that much of it the way they make their money is on something called a spread if you go onto a lot of brokers nowadays 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 usually it’s just an extremely little cost which is called the spread that is the cost that etoro will possibly keep 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 slightly greater rate and the simplest way of explaining this is if you bought say apple in this example on screen once in a while you quickly put it in your portfolio you will see a slight 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 really drop in the dollar cost of how much it roughly cost you to open stated trade however after using this platform for a long period of time when you close the trade as well there is a slight distinction and what happens here is etoro tends to compute the distinction which is just how much they have actually made i have actually tracked this for a long period of time and seen that
when i really do close a trade quite a lot of the time the fee that i get charged is a lot less than the initial cost that i had for opening the trade itself but this is the normal basic structure nowadays for a lot of brokers that offer commission open markets if you do not wish to pay a spread you can go and open an interactive brokers account a saxo checking account or some of the other more advanced platforms and you will get charged a repaired fee per trade but for me personally i believe for newer financiers specifically this is a much cheaper method of doing things now what does etoro have to use well they provide stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and lots of a lot more possessions like commodities and foreign exchange or currencies however having a platform that permits you to trade several sectors is absolutely 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 elements available with this platform and i feel in the modern world we reside in currency commodities things of the sort are absolutely more needed in brokerage houses specifically for the new investor nevertheless i did point out cfds though which is a contract for difference these are essentially contracts that brokerage or other organizations can use a client to purchase a business usually it’s a way of having a lot more take advantage of without in fact owning any of the stock you are making an agreement with stated institution now cfds are really not offered to people in the us but they are offered to people over in europe and in the uk however i need to say offered the scariness of take advantage of and more than 60
of people trading cfds lose money i simply totally keep away from cfds particularly if you are a newer or intermediate investor and on that also just keep away from leverage it’s not truly good for your portfolio now prior to we carry on to the two most popular things with etoro and things that people tend to enjoy the most we need to discuss the stocks etfs and products now this is the biggest issue etoro has in my viewpoint and they are taking a look at changing this very very 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 don’t have them all and they are including them at a relatively sluggish rate they do not want to add every penny stock under the sun that no one’s really trading like i said they make their cash on the spread out so the more individuals trading a stock the more cash 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 cash so they are only including stocks that they feel that a helpful and b well less dangerous i really see this as a little bit of a positive for new financiers although for somebody like myself who’s had a lot more
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experience it is rather annoying that some of the stocks that i do wish to trade or at least look at and not on the platform now that stated i have actually spoken with etoro on this and they have actually guaranteed 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 may not even be that appropriate however i’m sure if you are a torah user and watching this it can be irritating that perhaps one out of 10 stocks is really not offered 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
Only available in 43 states
All U.S. citizens can sign up for a virtual trading account. There are only 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, Nevada, and Tennessee clients currently can not trade with eToro. The company aims to have 50-state availability eventually. Up until then, some traders will need to look somewhere else.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the exact same place: Robinhood uses trading in stocks and alternatives, including fractional shares. In addition, it uses 7 different cryptocurrencies and charges no transaction costs.