so i’ve been utilizing etoro for numerous years now…Geb√ºHren Bei Etoro… and i need to say because my last etoro review video the platform itself has actually altered a hell of a lot i thought what much better chance with the new year to give a new review on etoro speak about the assets the bad points and the things that etoro desperately requires to improve on if it is certainly to take on the similarity robin hood when it opens stock trading in the us so if you are new to investing or are simply 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 discover this video beneficial you gently 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 utilize i do have a number of accounts of them and i have actually used them for a number of years nevertheless i do feel there is numerous areas that etor frantically needs to improve on if it is certainly to contend and i’ll be quite harsh in criticizing them in this video i feel like it’s only reasonable as somebody who does use etoro on a daily basis to offer the harsh and sincere reality on the unfavorable side in addition to the positive side nevertheless overall i do need to state i am extremely delighted with them and if you are looking for a 2nd brokerage account or our brand-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 really get life time access to our lwt etoro discord so you can engage with other investors directly even if you do open the account understand it’s not for you that chat room is readily offered 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 will release stock trading in the us which i feel will be the most significant game changer for this business i need to say myself as somebody who has actually operated in finance for over 15 years etoro are tackling it the proper way they are managed in many different jurisdictions and they are expanding at the right 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 regulated in australia and of course they are on the finra website over in the us as i stated u.s stock trading is coming very soon however the fact that they are taking their time over in
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the us prior to they introduce stock trading over the last year or so is really a good sign for me since they’re making certain they don’t have a scenario where they leave themselves open to claims or they ruin with guideline 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 dealing with serious problem with the fca and the guideline there it appears that etoro are taking the right actions first prior to they release making certain that the customers remain in the safest possible position and they do not leave themselves open i have to state this is a terrific sign for a modern day brokerage with an app unlike the old conventional saxo bank and interactive brokers a modern commission totally free platform more on that later going the best steps ensuring that all the eyes are dotted or the t’s are crossed before they open in any area they are really operating in this reveals me that etoro is wanting to stick around for the long term and they have clear goals of growing to be among the most significant brokerages in the world now the minimum quantity needed 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 actually 10 dollars and a lot of other countries it’s just fifty dollars so you can go on examine 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 complimentary brokerage however obviously brokers want 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 most likely gets wrapped up in deal fees and he toro probably doesn’t see that much of it the method they make their cash 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 simply a very little charge which is called the spread that is the fee that etoro will potentially keep on this trade that’s how they generate income since they are not charging you a commission to open the trade they’re just opening the trade at a slightly higher price and the easiest way of describing 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 small loss on this trade week one day one minute one second one and that percentage loss is how much it cost you to open that trade or you can even really go and see the dollar fee of just how much it approximately cost you to open said trade however after using this platform for a very long time when you close the trade too there is a minor distinction and what occurs here is etoro tends to calculate the difference and that is just how much they’ve made i have tracked this for a long time and seen that
when i in fact do close a trade rather a lot of the time the cost that i get charged is a lot less than the preliminary charge that i had for opening the trade itself however this is the regular basic structure these days for a great deal of brokers that offer commission open markets if you do not want to pay a spread you can go and open an interactive brokers account a saxo savings account or some of the other more advanced platforms and you will get charged a repaired cost per trade but for me personally i believe for newer financiers especially this is a more affordable method of doing things now what does etoro have to use well they offer stocks etfs cryptocurrency cfds more on that in simply a second copy trading and many much more properties like commodities and foreign exchange or currencies but having a platform that allows you to trade several sectors is certainly useful 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 offered with this platform and i feel in the modern world we reside in currency commodities things of the sort are definitely more required in brokerage homes particularly for the new financier however i did mention cfds though which is a contract for difference these are basically contracts that brokerage or other organizations can provide a customer to buy a business usually it’s a way of having a lot more leverage without in fact owning any of the stock you are making a contract with said organization now cfds are in fact not readily available to people in the us but they are readily available to people over in europe and in the uk but i have to say provided the scariness of take advantage of and more than 60