so i’ve been using etoro for several years now…etoro trader non investe tutti i soldi… and i need to state given that my last etoro review video the platform itself has changed a hell of a lot i believed what much better opportunity with the brand-new year to offer a new evaluation on etoro talk about the good points the bad points and the important things that etoro desperately needs to improve on if it is indeed to take on the similarity robin hood when it opens stock trading in the us so if you are brand-new to investing or are simply trying to find 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 useful 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 want to clarify etoro is not the sole brokerage account i utilize i do have a number of accounts of them and i have actually utilized them for numerous years however i do feel there is lots of locations that etor desperately requires to improve on if it is indeed to compete and i’ll be quite extreme in criticizing them in this video i seem like it’s only fair as somebody who does use etoro daily to offer the extreme and honest reality on the negative side along with the positive side however total i do have to say i am excessively happy with them and if you are searching for a second brokerage account or our new investor i would just state jump in the minimums are rather low provide it a try and see if it fits your needs and if you do so by means of 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 engage with other financiers directly even if you do open the account realize it’s not for you that chat room is readily offered for you just follow the steps down on the pinned comments 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 are about to launch stock trading in the us which i feel will be the most significant video game changer for this company i need to state myself as someone who has actually operated in finance for over 15 years etoro are tackling it properly they are managed in various jurisdictions and they are broadening at the ideal speed making certain 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 controlled in australia and naturally they are on the finra site over in the us as i said u.s stock trading is coming soon however the truth that they are taking their time over in
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the us before they release stock trading over the in 2015 or so is actually a great sign for me due to the fact that they’re making sure they don’t have a circumstance where they leave themselves open to suits or they mess up with policy it seems every second week robin hood has some court case or some big grievance they need to handle we have crypto brokers like binance over in the uk facing serious problem with the fca and the regulation there it seems that etoro are taking the best actions initially before they release making certain that the customers remain in the most safe possible position and they do not leave themselves open i have to state this is a great sign for a contemporary brokerage with an app unlike the old conventional saxo bank and interactive brokers a modern commission complimentary platform more on that later going the best 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 reveals me that etoro is aiming to stick around for the long term and they have clear goals of growing to be one of the greatest brokerages worldwide now the minimum amount required to open an account does differ on where you lie on screen now you can see the minimums readily available however if you are from the us or the uk
the minimum to open an account is in fact 10 dollars and a great deal 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 stated etoro is a commission free brokerage however naturally brokers wish to generate income so how the hell do they do that well the very first apparent cost is if you take cash out of your account there’s a 5 dollars cost but to be honest that probably gets involved deal charges 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 many brokers these days 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 typically it’s just a very little fee which is called the spread that is the charge that etoro will potentially continue 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 slightly greater price and the simplest method 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 small 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 see the dollar and go fee of just how much it approximately cost you to open stated trade nevertheless after utilizing this platform for a long time when you close the trade also there is a small distinction and what takes place here is etoro tends to determine the difference which is how much they’ve made i have tracked this for a long period of time and seen that
when i really 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 but this is the normal standard structure nowadays for a lot of brokers that provide commission open markets if you do not 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 cost per trade but for me personally i think for newer investors especially this is a more affordable method of doing things now what does etoro have to offer well they use stocks etfs cryptocurrency cfds more on that in simply a 2nd copy trading and numerous many more properties like products and foreign exchange or currencies however having a platform that enables you to trade numerous sectors is certainly helpful for instance you can short bitcoin and go long silver you might also short the japanese yen and go long into gold there is many different aspects offered with this platform and i feel in the contemporary world we live in currency commodities things of the sort are absolutely more required in brokerage houses especially for the brand-new financier nevertheless i did mention cfds though which is a contract for difference these are essentially contracts that brokerage or other organizations can provide a customer to buy a company usually 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 institution now cfds are really not available to people in the us however they are readily available to people over in europe and in the uk however i have to say offered the scariness of utilize and more than 60
of people trading cfds lose cash i simply entirely stay away from cfds specifically if you are a newer or intermediate financier and on that too just stay away from leverage it’s not truly good for your portfolio now before we move on to the two most popular things with etoro and things that people tend to love the most we require to discuss the stocks etfs and commodities now this is the biggest problem etoro has in my opinion and they are looking at altering this very very soon in fact i believe it is among their greatest objectives 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 slow rate they do not wish to include every penny stock under the sun that no one’s in fact trading like i stated they make their cash on the spread so the more people trading a stock the more money they make if they added in a low-cap cent stock that only one person’s trading each and every single day they’re not going to make that much money so they are just including stocks that they feel that a beneficial and b well less risky i really see this as a little 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 quite irritating that a few of the stocks that i do want to trade or a minimum of look at and not on the platform now that stated i have actually spoken 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 appropriate however i make sure if you are a torah user and viewing this it can be irritating that possibly 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 social platform and the popular investing program
Only readily available in 43 states
All U.S. residents can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee consumers presently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the exact same location: Robinhood provides trading in stocks and options, consisting of fractional shares. In addition, it uses 7 various cryptocurrencies and charges no transaction charges.