so i’ve been utilizing etoro for a number of years now…Etoro South East Asia Head… and i have to state since my last etoro review video the platform itself has altered a hell of a lot i thought what much better chance with the new year to offer a new review on etoro speak about the good points the bad points and the important things that etoro frantically needs to improve on if it is certainly to compete with the similarity robin hood when it opens stock trading in the us so if you are new to investing or are just trying to find 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 advantageous you gently tap that like button to help me out with the youtube gods and without further 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 utilize i do have numerous accounts of them and i have used them for several years nevertheless i do feel there is numerous locations that etor desperately needs to improve on if it is certainly to complete and i’ll be rather extreme in slamming them in this video i feel like it’s only fair as somebody who does use etoro daily to offer the honest and harsh reality on the negative side along with the positive side however general i do need to say i am overly happy with them and if you are trying to find a 2nd brokerage account or our new investor i would simply state jump in the minimums are quite low offer it a whirl and see if it fits your requirements and if you do so through the affiliate link down on the pinned
remark and follow the steps there you do actually get lifetime access to our lwt etoro discord so you can connect with other financiers directly even if you do open the account understand it’s not for you that chatroom is readily available for you just follow the steps down on the pinned remarks 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 greatest game changer for this company i have to state myself as someone who has actually worked in finance for over 15 years etoro are setting about it the proper way they are managed in several jurisdictions and they are broadening at the best pace ensuring all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for instance they are controlled with the fca over in the uk sysek over in cyprus they’re managed in australia and obviously they are on the finra site over in the us as i said u.s stock trading is coming very soon however the fact that they are taking their time over in
etoro reviews uk Etoro South East Asia Head
the us before they introduce stock trading over the last year or so is in fact an excellent sign for me because they’re making sure they do not have a situation where they leave themselves open to claims or they mess up with regulation it seems every second week robin hood has some lawsuit or some big problem they need to deal with we have crypto brokers like binance over in the uk facing serious difficulty with the fca and the regulation there it appears that etoro are taking the best actions first before they launch making sure that the customers are in the most safe possible position and they do not leave themselves open i need to say this is a great sign for a modern day brokerage with an app unlike the old traditional saxo bank and interactive brokers a modern day commission 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 location they are really operating in this shows me that etoro is looking to stay for the long term and they have clear objectives of growing to be among the most significant brokerages in the world now the minimum quantity required to open an account does differ on where you are located 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 nations it’s only fifty dollars so you can proceed examine 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 totally free brokerage however naturally brokers want to earn 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 charge but to be truthful that probably gets wrapped up in deal costs 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 generally it’s simply a very small charge which is called the spread that is the charge that etoro will potentially 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 simply opening the trade at a somewhat higher cost and the simplest way of describing this is if you purchased state apple in this example on screen now and then 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 go and see the dollar cost of how much it roughly cost you to open said trade however after utilizing this platform for a long period of time when you close the trade as well there is a minor difference 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 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 these days 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 savings account or a few of the other more advanced platforms and you will get charged a repaired fee per trade but for me personally i believe for more recent investors especially 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 just a 2nd copy trading and numerous a lot more assets like commodities and foreign exchange or currencies however having a platform that permits you to trade numerous sectors is definitely beneficial for instance you can short bitcoin and go long silver you could also short the japanese yen and go long into gold there is many different aspects readily available with this platform and i feel in the modern day world we live in currency products things of the sort are certainly more required in brokerage homes particularly for the new investor however i did mention cfds though which is a contract for difference these are essentially agreements that brokerage or other institutions can offer a customer to purchase a company typically it’s a way of having a lot more leverage without in fact owning any of the stock you are earning a contract with said institution now cfds are in fact not readily available to people in the us but they are available to people over in europe and in the uk however i have to say provided the scariness of take advantage of and more than 60
of individuals trading cfds lose money i just entirely stay away from cfds especially if you are a newer or intermediate investor and on that as well just keep away from leverage it’s not really helpful for your portfolio now before we carry on to the two most popular things with etoro and things that people tend to enjoy the most we require to speak about the stocks etfs and products now this is the biggest issue etoro has in my viewpoint and they are taking a look at altering this extremely 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 adding them at a relatively slow rate they do not wish to include every cent stock under the sun that nobody’s really trading like i stated they make their cash on the spread out so the more individuals trading a stock the more money they make if they included a low-cap penny stock that only one individual’s trading each and every single day they’re not going to make that much cash so they are only adding stocks that they feel that a helpful and b well less risky i really see this as a little bit of a favorable for brand-new investors although for someone like myself who’s had a lot more
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experience it is quite bothersome 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 to 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 pertinent however i make certain if you are a torah user and viewing this it can be frustrating that possibly one out of 10 stocks is actually not available on the platform so let’s hope etoro enjoys this video and it changes really soon now the two most popular things on etoro is the social platform and the popular investing program
Just offered in 43 states
All U.S. locals can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee consumers currently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the same location: Robinhood uses trading in stocks and choices, including fractional shares. In addition, it provides 7 different cryptocurrencies and charges no transaction charges.