so i’ve been using etoro for a number of years now…Etoro Handelsplattform… and i have to say considering that my last etoro evaluation video the platform itself has changed a hell of a lot i believed what much better chance with the brand-new year to give a new review on etoro talk about the assets the bad points and the important things that etoro desperately requires to improve on if it is indeed to compete with the likes of robin hood when it opens stock trading in the us so if you are brand-new to investing or are just searching 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 beneficial you carefully tap that like button to help me out with the youtube gods and without more 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 several years nevertheless i do feel there is numerous locations that etor frantically needs to improve on if it is certainly to contend and i’ll be rather harsh in criticizing them in this video i seem like it’s only reasonable as somebody who does use etoro on a daily basis to offer the sincere and extreme reality on the unfavorable side as well as the positive side nevertheless overall i do need to state i am excessively pleased with them and if you are searching for a 2nd brokerage account or our new investor i would simply state jump in the minimums are rather low offer it a whirl and see if it fits your requirements and if you do so via the affiliate link down on the pinned
comment and follow the actions there you do in fact get life time access to our lwt etoro discord so you can communicate with other financiers directly even if you do open the account recognize it’s not for you that chatroom is easily offered for you just follow the steps down on the pinned comments 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 biggest video game changer for this company i need to state myself as someone who has actually operated in financing for over 15 years etoro are going about it properly they are regulated in many different jurisdictions and they are expanding at the ideal speed making certain all the eyes are dotted all the t’s are crossed before they open in any jurisdiction for example 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 website over in the us as i stated u.s stock trading is coming soon nevertheless the fact that they are taking their time over in
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the us before they launch stock trading over the in 2015 or two is in fact an excellent sign for me because they’re ensuring they don’t have a situation where they leave themselves open to suits or they screw up with guideline it appears every second week robin hood has some lawsuit or some big problem they need to handle we have crypto brokers like binance over in the uk facing major trouble with the fca and the regulation there it appears that etoro are taking the right actions initially before they introduce making certain that the clients are in the best possible position and they do not leave themselves open i need to say this is an excellent sign for a modern day brokerage with an app unlike the old conventional saxo bank and interactive brokers a modern day commission free platform more on that later going the ideal steps ensuring that all the eyes are dotted or the t’s are crossed prior to they open in any area they are actually operating in this shows me that etoro is aiming to stay for the long term and they have clear aims of growing to be among the biggest brokerages worldwide now the minimum quantity required to open an account does vary 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 really 10 dollars and a lot of other countries it’s just 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 but obviously brokers wish to generate income so how the hell do they do that well the very first apparent charge is if you take cash out of your account there’s a 5 dollars fee but to be truthful that probably gets involved deal charges and he toro probably does not see that much of it the method they make their money is on something called a spread if you go onto a lot of 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 distinction in between typically it’s just a very small charge which is called the spread that is the cost that etoro will possibly keep this trade that’s how they make money 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 most convenient way of explaining this is if you purchased say apple in this example on screen once in a while you immediately put it in your portfolio you will see a minor 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 actually see the dollar and go fee of just how much it approximately cost you to open stated trade nevertheless after using this platform for a long period of time when you close the trade as well there is a small difference and what occurs here is etoro tends to calculate the difference 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 great deal of the time the charge 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 standard structure these days 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 savings account or some of the other advanced platforms and you will get charged a repaired fee per trade but for me personally i think for newer investors specifically this is a more affordable way of doing things now what does etoro need to offer well they provide stocks etfs cryptocurrency cfds more on that in simply a second copy trading and numerous many more possessions like products and forex or currencies but having a platform that permits you to trade several sectors is certainly helpful 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 aspects readily available with this platform and i feel in the contemporary world we live in currency products things of the sort are definitely more needed in brokerage houses particularly for the brand-new investor nevertheless i did discuss cfds though which is a contract for difference these are essentially contracts that brokerage or other organizations can provide a client to buy a business generally it’s a method of having a lot more take advantage of without in fact owning any of the stock you are making a contract with stated institution now cfds are actually not offered to individuals in the us but they are available to people over in europe and in the uk however i need to state given the scariness of leverage and more than 60
of people trading cfds lose cash i simply entirely stay away from cfds specifically if you are a more recent or intermediate investor and on that too just keep away from leverage it’s not really great for your portfolio now before we carry on to the two most popular things with etoro and things that individuals tend to like the most we need to discuss the stocks etfs and products now this is the greatest problem etoro has in my opinion and they are taking a look at changing this very very 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 wish to trade or etfs they do not have them all and they are including them at a reasonably slow rate they do not wish to include every cent stock under the sun that nobody’s really trading like i said they make their cash on the spread so the more individuals trading a stock the more cash they make if they included a low-cap cent stock that only one individual’s trading each and every single day they’re not going to make that much money so they are just adding stocks that they feel that a beneficial and b well less dangerous i really see this as a little a favorable for new investors although for somebody like myself who’s had a lot more
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experience it is quite irritating that some of the stocks that i do want to trade or at least take a look at and not on the platform now that said i have actually talked to etoro on this and they have actually 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 pertinent however i’m sure if you are a torah user and watching this it can be frustrating that perhaps one out of 10 stocks is really not readily available on the platform so let’s hope etoro enjoys this video and it changes extremely 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. citizens can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee customers presently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the very same place: Robinhood uses trading in stocks and alternatives, including fractional shares. In addition, it uses 7 various cryptocurrencies and charges no transaction charges.