so i have actually been using etoro for a number of years now…Etoro Api Python… and i need to say given that my last etoro evaluation video the platform itself has changed a hell of a lot i thought what better chance with the brand-new year to give a new evaluation on etoro talk about the good points the bad points and the important things that etoro frantically 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 looking for a new brokerage account and etoro is an alternative then this video is for you all i ask in return is if you discover this video advantageous you carefully tap that like button to assist 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 use i do have a number of accounts of them and i have used them for several years however i do feel there is lots of locations that etor desperately requires to improve on if it is indeed to contend and i’ll be quite extreme in slamming them in this video i seem like it’s only fair as someone who does use etoro daily to offer the honest and extreme reality on the unfavorable side in addition to the positive side however overall i do need to state i am excessively happy with them and if you are searching for a 2nd brokerage account or our brand-new financier i would just say jump in the minimums are quite low offer 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
remark 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 understand it’s not for you that chatroom is easily 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 absolute mega giant of a broker over here in europe and they will launch stock trading in the us which i feel will be the most significant video game changer for this business i have to say myself as someone who has operated in finance for over 15 years etoro are setting about it the proper way they are regulated in several jurisdictions and they are broadening at the right pace ensuring 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 naturally they are on the finra website over in the us as i stated u.s stock trading is coming very soon however the reality that they are taking their time over in
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the us before they introduce stock trading over the last year or so is really a good sign for me because they’re ensuring they do not have a circumstance where they leave themselves open to suits or they screw up with regulation 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 dealing with serious difficulty with the fca and the policy there it appears that etoro are taking the right steps first before they launch making certain that the clients are in the best possible position and they don’t 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 complimentary 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 location they are really operating in this shows me that etoro is looking to stick around for the long term and they have clear aims of growing to be among the most significant brokerages on the planet now the minimum quantity required 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 really 10 dollars and a lot of other countries it’s only fifty dollars so you can proceed check this link it will be 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 free brokerage but naturally brokers wish to make money so how the hell do they do that well the very first obvious fee is if you take money out of your account there’s a five dollars fee however to be sincere that most likely gets involved transaction fees and he toro most likely doesn’t see that much of it the way they make their cash is on something called a spread if you go onto most 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 difference in between normally it’s just a really small fee which is called the spread that is the cost that etoro will potentially keep on this trade that’s how they earn money 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 rate and the easiest method of describing this is if you bought state apple in this example on screen from time to time you immediately put it in your portfolio you will see a minor loss on this trade week one day one minute one 2nd one and that portion loss is just how much it cost you to open that trade or you can even actually go and see the dollar charge of just how much it roughly cost you to open stated trade nevertheless after using this platform for a very long time when you close the trade too there is a minor distinction and what happens here is etoro tends to determine the difference which is just how much they’ve made i have tracked this for a long time and seen that
when i really do close a trade quite a great deal of the time the charge that i get charged is a lot less than the initial fee that i had for opening the trade itself however this is the typical basic structure these days for a lot of brokers that offer commission free trades if you do not want to pay a spread you can go and open an interactive brokers account a saxo checking account or some of the other advanced platforms and you will get charged a fixed cost per trade but for me personally i think for newer investors particularly this is a much cheaper method of doing things now what does etoro need to use well they provide stocks etfs cryptocurrency cfds more on that in just a 2nd copy trading and lots of many more assets like commodities and forex or currencies but having a platform that enables you to trade multiple sectors is definitely beneficial for example you can short bitcoin and go long silver you might likewise short the japanese yen and go long into gold there is several aspects available with this platform and i feel in the modern day world we reside in currency products things of the sort are certainly more required in brokerage homes especially for the brand-new financier nevertheless i did mention cfds though which is a contract for distinction these are basically contracts that brokerage or other institutions can use a client to buy a company normally it’s a method of having a lot more leverage without actually owning any of the stock you are making a contract with stated organization now cfds are really not readily available to people in the us but they are offered to people over in europe and in the uk however i have to say given the scariness of take advantage of and more than 60
of individuals trading cfds lose cash i just totally keep away from cfds especially if you are a more recent or intermediate financier and on that also simply keep away from take advantage of it’s not really good for your portfolio now prior to we proceed to the two most popular things with etoro and things that people tend to like the most we require to speak 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 very soon in fact i believe it’s one of 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 adding them at a reasonably sluggish rate they do not wish to add every cent stock under the sun that no one’s really trading like i said they make their money on the spread so the more people trading a stock the more cash they make if they added in a low-cap cent stock that only one individual’s trading every day they’re not going to make that much money so they are only adding stocks that they feel that a helpful and b well less risky i really see this as a bit of a favorable for brand-new financiers although for somebody like myself who’s had a lot more
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experience it is quite annoying that a few of the stocks that i do want 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 relevant but i make certain if you are a torah user and enjoying this it can be annoying that maybe one out of 10 stocks is really not available on the platform so let’s hope etoro watches this video and it changes 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. homeowners can register for a virtual trading account. Nevertheless, there are only 43 states (along with Washington D.C. and the Northern Mariana Islands) where you can use genuine money to buy and sell cryptocurrencies. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee clients currently can not trade with eToro. The business aims to have 50-state schedule ultimately. Till then, some traders will have to look elsewhere.
Alternatives to consider
If you want to trade stocks and cryptocurrencies in the exact same place: Robinhood uses trading in stocks and alternatives, including fractional shares. In addition, it provides 7 different cryptocurrencies and charges no deal charges.