Hey everyone! Thanks for watching. It's 2019 now, and yes, I'm still using Etoro :) They made me a Popular Investor on New Year's Eve 2018, which is very exciting for me! Here's my profile if you'd like to see how I'm currently doing : etoro.tw/2rcYYm0 . Thanks everyone for watching and supporting the channel, I really appreciate it. I'll do a follow up for 2019 soon I think, but so far, I still think pretty much the same.
Hi Please help. I want to transfer my equity amount into my available amount in order to withdraw money from etoro? It appears that my equity amount is locked in. How do I unlock it?
It will not take your money just invest slowly in difrenet things not all in one, I already earned money at first, but don't expect you will earn big money fast
I am an affiliate, but that took over a year to make even the first few hundred dollars... Now they made me a PI, (one of the people who can be copied on the site) so if I do well with that I could eventually earn money from that (but that only happened on the last day of last year). And nope, I don't own eToro :) That would be a brilliant twist though - "Usual Suspects" :)
It depends how much money they actually were using to trade... You have to think of it in terms of a percentage gain rather than money. If you have $100 to trade with and you make 10%, you've made $10. If you have $1000 to trade with and you make 10%, it's $100. It depends how much money you have to trade with and the percentage gain or loss.
there are other things too but I just wanted to address the "is it a scam" idea. that was my first concern..its different from a full review. Once I know its not a full-on scam then I can decide if its good compared to the other legit sites.
Thank you for explaining quite a lot of things. I must say I have never come across something more difficult than trying to understand how much etoro will charge you. Consider this: if you have EUR or GBP, you're looking at 0.5% and 2.5% respectively to deposit, then same again to withdraw. I guess that already adds up to 1% and 5% respectively. Then you should consider what rate they apply when they purchase a stock in EUR or GBP, this is a mystery and isn't written in the help centre as far as I know. I must conclude that the conversion fees and what revolves around it on etoro may be fair like you say, but I just can't get my head around how much they are actually charging you.
Yeah, there was always a withdrawal fee, but they used to be in tiers - a little while ago they changed it to $25 no matter how much you want to withdraw ...
Hey Thomas, I have a question/concept for you! "When to add money to a trader (and why!)?" I've been giving this a lot of thought and you want to add money to traders who are doing you good (making you $$), so it would be natural to add those funds to that trader when you see they are doing well, while they're on a streak/right at the top, but I've found that hasn't been good to maximise profits. When a trader has a good streak, it's often followed by a small drawdown, so when you add funds at the top and the following trades are losing trades, they will cause even bigger drawdown than if you didn't add funds to begin with. I think it's worth being patient when it comes to adding funds, this is basically being extra safe with your money. Wait for a drawdown (even if small) to occur before adding funds - essentially like buying the dip. Would love to hear your opinion on this! (video idea!?!?)
:) I really haven't made my mind up on this one either. I've had the idea of rewarding the lowest risk traders with the highest copy amount for now, but I already have seemed to bend that today by not keeping Bariera (who i just copied) at the bare minimum seeing as he's well outside my max yearly drawdown limits. However, that does come from observing his chart and seeing the very very low drawdowns for everything but the first part of the last 12 months. We'll see. I think keeping the riskier ones as the lowest percentage does seem sane though. but then is it? as don't you want to maximise the gains of those on a streak as you mentioned. Then it gets into the question of why keep riskier ones in the portfolio anyway, even with less exposure in the porfiolio. If it's for their potential gains then isn't that subverted by keeping them as the least-funded of the portfolio? Aren't I essentially saying "I don't trust you really"? Wouldn't it be better to just pick only the ones who I would feel totally comfortable adding as much funds as i could to? I think that may ultimately be the way I go really, but I'm not quite there yet.
I have used eToro now for several years. The platform can be buggy at times and the spreads are on the higher end of any trading platform you'll see but I forgive them ease of use and access to the social aspect and seeing every elses portfolio can be very helpful especially for beginners. Never had any issues withdrawing money or anything like that, it's not a scam. Been there since late 2015
I put 2000 USD into eToro. They fail badly keeping their deadlines, this is what worries many people, including myself. However, when I withdrew fund it all came with only a slight delay, and everything I was entitled to, including profits.
You are AWESOME for starting this VLOG!! Info and guidance is really what everyone needs when starting anything new in ANY field. Investing and trading is no different and you are a blessing for being a leader in this, especially in TH-cam. You rock
Hi, informative videos :) From my reading, there is insurance if things go pearshape, but not for any crypto trades. Also, i think that them sending your withdrawls in small lots is not such a bad thing as it may be under the reportable amounts. I once was in a bank when some asian ladies were trying to send bundles of cash out of the country, and when the teller said she would need i.d. or something, because the amount was over 10k ( the reportable amount), the ladies just made several deposits of 5k.
smart ladies ... :) Thanks about the videos - yeah, in the 'cryptocurrencies addendum' it does say that since cryptos are 'unregulated' they don't fall under the protection of the insurance scheme. Sobering thought that one...
1/ Etoro always fils up your order higher ( long ) than your planned entry . You are in debt at entry. It is not related to spread or at market price. Don't get confused on that it is far different. 2/ Etoro forces you to set minimum stop loss "bigger" than the one you have planned for . 3/Etoro forces you to take minimum profit . You can not control your remaining position size on an opened trade . 4/Etoro limits maximum profits at entry . Etoro over controls your trades. They basically act as a " pimp" . It show how many greedy sheep get caught in not informing themselves properly. CAREFUL .
Thank you so much man - if there's any ideas for videos, please let me know, as I started about a year ago now, and it's hard to remember all the things which seemed confusing - everything was confusing at first (a lot still is)
Thanks - the one problem I'm having with copying is that certain trades in my investor's profile reflect "pending open" and I did select copy open trades? Can't find anything on the resource guide
Thanks was noob panic. The different exchanges open at different times, so the pending open meant that the trade was pending the exchange opening. Keep up the great vids!
Nero II Bautista no you won’t have any fee as stated by the platform, I’m doing the same strategy for long run investment dm me on Instagram @theblessedicon
Do not use Etoro 1. Etoro thinks so little of its customers that it takes ten + days to send out a generic response help email to your customer support question. When the email finally arrives it is a templated response that dose not provide any specificity in its answer. 2. Etoro locked all of its customers out of the trading platform yesterday when there was money to be made for 8 hours. Etoro communicated to its customers once over a period of seven hours during this lock out!! 3. It takes ten +days for EToro to respond to your request to withdraw your funds from its platform. Hence my statement that Etoro is a third rate platform, that should be thoroughly investigated for dodgy trading practices. Etoro's loop hole excuse is oh we experienced technical difficulties again and again and again etc.
@tom keep your eye on Etoro’s announcements today to all the Dutch users with Crypto positions. The company has not obtained the correct licenses with the Dutch Bank, so will be closing all trades at some point in January. Many will suffer from this poor decision and how badly it has been communicated.
Thanks for the time and effort. Great video. It will be interesting to see how much your camera purchase would have cost you in profits ;) Anyway, enjoyed the video and thanks for posting!
Cheers Christo :) Yeah, capital's everything in trading, but I've been enjoying the camera too, so all's good :) (I'm kind of impulsive and just wanted the camera fast!)
There are overnight and weekend fees on all leveraged trades, or 'Short' trades (when you're betting the value will go down and wanting to make money as it does)... For the most accurate information (it changes) you can go to their fees page in their halp section and you'll see it all outlined there.
obviously from experience, working with investment groups, you study or work with information the organization is interested in, Etoro does not openly provide information. Like universities, they provide books of information they will ask questions, later on, Etoro does not do this, if Etoro is there to help with work, it is illegal for people who withhold information that will help someone do their job better.
This sounds good, did I hear in one of your videos that if we trade, and it goes down we can owe them money? I don’t get that. Am I right that we can only lose what we initially put in. ?
As far as I'm aware, there's 'negative balance protection' so we shouldn't owe them more than we put in. I wouldn't like to put it to the test though...
I've been having major problems with support tickets too - it's taking them around a week to answer, which really isn't good enough. I think what's happened is too many people have signed up in a short time (at least this is what they told me...) and they're having trouble getting more staff in to deal with the extra questions from customers. Sounds weak though - they should have thought of that - it's incredibly annoying, and I get very worried - even now, when they don't answer. I always start thinking "Uh oh, something's up..." But for now, I'm going to give them a little room and see if it gets back to a decent running mode again soon. I think it's this Bitcoin influx. It could be.
I went to see in google maps were was the location of the etoros in the canary wharf and, I only saw bad reviews saying things like :"Be careful these guys are cons you'll get to a voice recorded message !" Robot voice keep repeating. Hold for 37 minutes and never responded. Keep away from these people" I found very strange since you said you dindt have any problem with the company... Sorry for my bad english...
It's all very well telling people that Etoro is safe but that statement still needs caveats. I put £200 into Etoro about 6 months ago and over that period of time I made a nice 15% profit after accounting for various fees for the transactions. However when I withdrew the £25 withdrawal fee absorbed most of that and in the end I only made about 5%. So telling people that they can follow traders with a minimum is not really good advice. Etoro works but you still need to be risking large amounts to make allowance for this.
Yeah, I've actually said that in other videos... I started off thinking I would copy 10 traders, each with the minimum $100, but I soon found this got incredibly frustrating, so I'm now copying fewer with more.
i deposited 200 dollars and got a return of 60% this month only to pay 130 dollars in "fees", definetly not worth using this platform when they charge this much in "fees".
Hi Tom, Slowly getting through your videos, I'm picking up what you had to do to set up your account, I have set up an Etoro account but wasn't asked for ID would you say I have set up the account properly?
I really liked your way of explaining the experience 😊 I had to think about etoro more than a year till I actually got into it and started trading two moths ago.. and I can feel all your feelings you explained.. I like how spontaneous you explain stuff, and I'll be happy to watch your videos and exchange experiences.. and specially that I'm a filmmaker, too. So that makes it more interesting 😊 thank you
hi! im new to social trading, i just have a question, can i also apply "Buy and Forget" strategy on Etoro? or is there a fee that would be incurred if i don't trade my money? what if i choose not to copy and just let my stocks rest there, will there an incurring holding fee or something, that would pile up over time? thanks! just subscribed! love your channel :)
I am no longer able to trade with etoro. Becasue I am a Candian. over 2 weeks still no response for my withdrawl. Gave in all my banking info. Left in the dark? wtf?
it is good for old customers because old customers can open stocks with 50 dollars with x1 low leverage but for new customers you need to pay 500 dollars for x1 leverages so you will always loose money if you use high leverage.I advise etoro to treat all the customers same.
Etoro is big scam 😒 you'll never see your money again. I won big amount and since long time haven't received any cent. Take care don't invest your money at etoro trade. Etoro is big scam 😒
You're welcome. Yeh I only found out, because the PI traders got an email about it, then the rest of us found out via the newsfeed, then I asked eToro myself and they confirmed it. Maybe you can add a pop up comment box? I don't know how you can edit videos once they're uploaded, I think maybe you can't? Not sure. Maybe you can add it in your comments description? btw looks like that camera you bought is coming in useful including your film school training! You look like a hollywood actor yourself!
I'll think I'll just do a tiny update or something. I've wanted to make some shorter videos anyhow, so maybe that can be a micro one :) I pinned your comment for now, so thanks to you they're getting the info! And yeah, it's great to be making videos again - we live in a very cool time if you want to create stuff.
Thanks! Yes that's a good idea. The more popular eToro gets the more useful and significant your videos will become. You are the pioneer! I envision in the future eToro will become as mainstream and synonymous as FB. So in a way, we're actually "investing" in eToro itself. Yes creating stuff is what humans love to do. Good luck with your future video content! Your channel is going to become very famous one day.
Thank You! I feel a lot more comfortable knowing now, I Can Get My Money Back :) Like you I've just let my money sit and it has gained, now I'll watch your vid on Copying and take it from there.
Thanks for your reply :) Who would you suggest? the funds I had went into BTC, I'm thinking of adding more funds, (God willing), and investing into Ethereum or IOTA, what do you think? Thanks again and Kind Regards!
I don't know who to suggest really, you can look at my profile and see who I'm copying, but I have no idea if they're right for you, and what you want. My profile is Thomas370. They do trade BTC among other things, and a little Ethereum. IOTA isn't available on Etoro - I believe it's listed on Bitfinnex (a different crypto exchange) I actually wanted to buy it too :)
This platform is scam, i opened a account but when market goes up or down you can’t close your position or you can’t open new position. Even they hiding sell-buy buttons. If you can try to close your position system not responding immediately and put your claim pending mode then after 5-10 min late they close your position when price goes down. Basically they made this platform to steal your money. If you don’t believe me go to etoro official Twitter page and see how many people fighting with them for take back their money.
Newb question, why are you made to verify your account to get a smooth withdrawal, especially if your being credited back to the account you debited from. is your data being collected for 3rd parties? I don't get it crypto is sold on the basis of fluidity and speed doesn't this defeat the object?
Hi there - I'm not entirely sure why they all do it - the real reasons - I know that they all say it's because of anti-money-laundering laws internationally, but I'm sure there's other reasons. I say why "they all do it" because I've signed up for around 10 other purely crypto exchanges, and some of them ask for even more documents for account validation. Some of them even ask you to get a piece of paper, write your name on it, the date, and the name of the exchange, sign it, then take a selfie holding up both the paper with your details and your id card in the same shot :) It's like some sort of hostage negotiation or something - it's incredible. I guess someone really really wants to track all this money moving around somehow.
On the crypto side Etoro has you trapped. Once you buy you cannot send your crypto to other sites and get staking rewards. They have a wallet that only supports 3 types of crypto coins, anything else you have to liquidate your funds. Also very important, they say there are no fees but that is not true. Etoro takes a 2-4 cent premium on each coin. Check out their coin prices versus Coinbase, Kraken or Voyager. Etoro is always a lower price. They are extremely unethical in their dealings dont do it!
I'm afraid I don't agree with you at all. The scam is in the hidden costs. The fact that they convert every currency into USD and charge you a healthy sum for it, and then AGAIN, when you change back to your original currency is an insidious rip-off. On the first page of their website this is not stated at all - in fact I couldn't find anything to this effect anywhere. Serious investors go elsewhere.
ABSOLUTE NIGHTMARE. FIRST THEY HOLD YOUR CRYPTO FOR 120 DAYS (NO REASON GIVEN) THEN THEY RESTRICT YOUR ACCOUNT AND WALLET WHEN YOU FINALLY TRY TO TRANSFER. THEN YOU HAVE TO DO THE WHOLE KYC THING AGAIN. THEN WAIT SOME MORE. CRAP
Etoro is a scam, they took $1000 off me and now its generated $3500 I cannot withdraw any of it and get an error message when i try to. The support don't get back to you.
Etoro is a scam. You buy something there and if you earn more than double then they constrained with your account. Don't listen to those people who never earn more than double with their own capital.
omg people.... just sign up with coinbase or gemini if you wanna buy cryptocurrencies. Etoro is where you buy the price difference and not the actual coin.
Hi Josh - no, actually you do now own the actual coin on Etoro too if you open a 'buy' position. If you open a 'sell' position it's still a CFD, and any position opened via copytrading or in the 'cryptofund' are still CFDs, but if you 'buy' then it's the real cryptos. But you can't move them off Etoro, which isn't great at all - I think they're trying to wait until they've developed their own wallet. I use both - i copytrade on Etoro, and then use binance, coinbase, bittrex and bitfinnex for other coins. Check out Bitfinnex's 'peer-financing' - very clever, and a way to make interest on your large cap cryptos even whilst you're just holding them. I wish i knew about that one before ! :)
Just Wondering why I did not find your great videos before!! I was in doubt from last year whether to Enter Crypto or No? And it has costed me the difference between BTC on 600$ and 20K$. And I'm still waiting more than a week for eToro to verify my account!! Like missing lots of opportunities these days!
Yeah, it can be frustrating. But watch out for that "FOMO" - Fear Of Missing Out... It can lead to some bad decisions (at least it did in my case many many times) That's why I'm just copytrading for now - let someone else apply all the wisdom and scrutiny for me :)
already subscribed after this vid, love your charisma. I deposited 300 aud and it exchanged to 234 us dollars, if i withdraw that money will i lose money because of the exchange rates? Thanks.
Hi Kirk, thanks man :) Is that a good exchange rate from AUD to USD? I don't know what the normal exchange rate is - some people say that Etoro's exchange rates are very competitive and some say they're really bad - I wasn't sure who to believe so I asked Etoro directly whether their exchange rates were competitive, and they said they were but couldn't give me any hard facts - I asked whether they'd compared them to the top 5 banks or anything and they said they couldn't give me any information on that (which I thought was quite a weak response) and they said it was best to just go to your local bank or exchange provider and check the rates yourself and see whether it's fair. Yes, there is an exchange rate charge when money goes into Etoro and when money goes out of Etoro (unless you're funding your account with USD directly). There's also a now standard $25 fee for processing any withdrawals of money from Etoro. It used to be in different tiers depending on the amount you are withdrawing, but they changed that to a standard $25 fee for any withdrawal (that used to be the maximum amount).
Yeah, thanks man, I think I'll make one just about the people who's videos I'm watching - especially the ones who lay bare all the possible risks in trading and how to stay safe. I really came here for copytrading, but there's absolutely no way I could stay away from having a go myself :)
I am from Israel. It's a fact this company and similar companies were kicked by our government from my country because of fraud complaints. over time people lose money and didn't get it back so I am guessing that all of your user experiences are based on one-time trial and a short one. second, I would like to know how much money you invested and what was your profit in percentage. from what I understand its kind of honey trap to first lure people to register and invest money and later over time the "surprises" will come. you can call it a continues scam LOL
Etoro took my money from my bank account ..which I didn't request..and it didn't appear in my Etoro account. They simply refused the refund..by saying it was added to my account.. when it was not added. It happened twice. :((
@@SocialTrading I was into Etoro for a while, until I wanted to liquidate and withdraw some funds for the first time, and they started asking me questions about why I'm withdrawing MY MONEY! At that moment I pulled everything out and left Etoro and haven't looked back. Don't ask me why I'm doing something with MY MONEY! You don't need to know that.
you going to try to trade yourself or copy people? I really did lose money trying to trade myself in the beginning - if i could go back in time I'd use most to copy people and only trade myself with a little bit, and at first force myself to not use too much leverage :) But you probably know way more than I did when i started trading!
That's awesome LEGEND, good luck with the real life trading! Wow one year virtual trading - that takes a lot of determination and motivation. I am impressed! Not many people have the commitment to stick with virtual for that long, as it's too exciting in the real account. I did 2 months in virtual before going real :-)
Was the first broker I used, I made a lucky trade, listening to the news on tv. 150 turned into 9500. Withdrew money. 10 years ago now. I don't know why you would use them to trade.. use a real broker. But I did get my money so anyway
I really came to Etoro because of the copytrading, as I want to automatically copy people who can make regular steady gains. I can't... I tried. I'd get lucky sometimes, and then lose it other times. I was getting better at it to be fair, but then that old risk-taking streak surged up again and I lost the profits I'd made, so for now, I'm just copy trading again.
If you send a SEPA payment in Europe from country to country, the big change this year is, that the payments are instant. If a person send 100 € from Ireland to Finland the transfer is instant and it is free (currently). The banks in general do not hold the funds anymore like they used to, and my guess is the reason are the negative interest rates ? (but I dont know real factual reason). If you send 11k to Finland from Ireland, they will charge a % fee which depend on the bank and can be 25-45€. Sending SEPA payments outside Europe is more expensive, but I think etoro has European accounts. This is why ETORO might send the withdrawal funds in smaller "packages".
I hope it goes well. I wouldn't follow everything I did though - I lost around 38% in my second month by basically gambling before i knew what was going on :)
lol love this vlog!! It made me laugh. I know I felt the same way when I first wanted to join, I was so scared. You gave me the confidence to join it - I watched your vlogs 2 months ago. Thank you!! :-) I love eToro and the community, I am learning so much about trading. Keep the vlogs coming!! We need people like you to give newbies out there the confidence to join too.
You're welcome Thomas, I am really enjoying watching your vlogs! I'm slowly making my way though them all. I started watching right from the beginning! Currently watching your fourth vlog as I write this! Yes thanks - trading going well, I am learning so much!! It's challenging and fun. When I first joined eToro (after practising for 2 months in virtual before joining the real account) I wasn't going to trade myself, and just copy the PI traders, but I couldn't help myself! haha I just love "the game". I love trading myself now, and learning about candle stick trading, stochastic analysis, and I'm learning a lot from my traders, they're so great and always happy to give me investment and trading help. My investment portfolio is now my own trades, and my 5 top traders I spent 2 months analysing and testing in the Virtual account. I can't wait for the market to open tomorrow and the FX market to open tonight! haha Weekends are now "oh the market is closed bummer" haha. And so then I focus on my crypto trades since that's the only market open at the weekend. I've become a junkie trader lol. I need my fix haha. I totally get it now when they say "it's not about the money, it's about the game" Wallstreet - Michael Douglas haha. I finally understand what going short is! It's not until you actually do trading that you get all the vocab. When I watched The Big Short, the financial terms totally went over my head, now I get all the financial terms and it's so cool! Sorry just written an essay :) Catch you on the inside!
hehehe. Yeah, it's totally addictive :) Jay's live streaming is really useful actually, although he's off doing a Gaming convention in Germany this week so won't be doing another until the 29th I believe (there's also a discord channel now too where there's constant chat). The Big Short was a brilliant film!
So i understand the GBP to US when depositing funds, so what happens when you withdrawing funds will it then change back to GBP and will use the current exchange rate thats on eToro (US to GBP) ?
Hi there - it will use the exchange rate listed on their fees page. So basically, I think the way to do it is to take the current exchange rate they list, and then move it however many pips they charge (obviously you move it in whichever direction gives you less money...) A PIP is one 10,000th of the quoted price. it's the smallest amount a forex pair (except ones with Yen in them) can move. All forex is measured (apart from Yen) to 4 decimal places - eg 1.2345 - so if that last 5 changed to a 4, it would have moved 1 pip. find out how many pips they charge for your pair. move the number to take away whatever pips they charge, then apply that exchange rate to whatever cash you're removing. (i should make a video about that ...) And yes, they charge the exchange fee on deposit AND on withdrawal.
it is a scam, they will ask for utility bill with your name on it, the problem is i rent my house and the utility bill is under her name, so it looks like i am going to lose my thousand dollars, would rather have donated it.
Hi there, and thanks. I actually can't recommend any wallet yet as it's still a relatively new area for me (the traditional crypto exchanges) and I haven't made any decisions yet. When i do, I'll let you know!
If you upload funds and then buy Bitcoin on there, can they transfer the bitcoin to another bitcoin wallet? Or is there a way through there new etoro wallet?
This is something I'd really have to find out for sure. I know they have their wallet, but as far as i can see there are still restrictions in having your private keys etc, so I don't use it. I still use other exchanges and Exodus for my pure crypto holdings. I think they're working on it furiously though, trying to get everything to out-compete their rivals. I know they have an actual crypto exchange now - etoro x - but I asked, and I'm not allowed to make videos about it yet.
wallets that don't give you private keys are dumb. I got burned on one called Multibit. There website is still up but they claim they're closing up the site. So what they claimed was that they got hacked and that's why everyone's money went missing. But it's probably and inside job. Likely it was only a small amount. With etoro I was thinking they looked really good. But it's one of those things were you can put the money in but can't get it back out hardly at all.
eToro is probably the safest platform to dabble with trading on AND it offers crypto trading, way ahead of the similar competitors.. eTorox is coming soon too, its going to be big for token trading. No scam here, this topic is just ridiculous. If you are expecting to VPN and try to avoid KYC then go and play somewhere else, this is a legitimate operation.
They're going to roll out the full version in the States too once it gets past the SEC apparently. Yeah, VPN solutions really really don't seem a safe way to go. I wouldn't try it either.
After I invested real money in June this year all those people that I copied or saved in my watchlist started to drastically losing their profits(they all seemed to be doing well before I putting money into real account) , now I am wondering if they are real people or just virtual profiles? does etoro manipulate those profile stats? or it was just the market happened to be doing badly in recent months?
Mine have all been doing badly since January... Who are your ones? I doubt they're just altering their statistics as that would show up in comments from other people copying the traders who suddenly see the stats and returns change. I could be wrong though.
Hi Thomas, fab video. I caught the Crypto bug and bought $600 of Ripple at 0.39, so it's doing ok, what i am having trouble it is this, how the hell do i sell some of my trade, genuinely can't work out how to do it, have you made a youtube video on how to do it? or can you guide me
You mean on Etoro? Etoro's crypto trading works differently than other crypto exchanges - you can't sell part of your Ripple (unless you opened lots of small trades) and keep the rest. It treats each "trade" as a block (sort of) so each trade is opeend, and if you want to close the trade and take your profits, you have to close the whole trade, you can't close part of it. Some people get round this by opening several smaller trades, rather than one big one, so that they can close smaller proportions of their overall holdings in an asset should they want to.... Hope that helps - sorry for the late reply, I've been away.
Im mainly interested in Cryptos. IS there any downside to buying and holding cryptos using Etoro? I use Coinbase but want to get some Ripple & Dash, it seems easier then setting up multiple wallets. I understand I wont actually own the coins; purely for an investment. Thanks
well, technically, if you're buying the coins on Etoro (not through copytrading, not 'short-selling' them, and not investing in the crypto fund) then you do actually own the coins - at least that's what Etoro says. I'd say the main drawback is that you can't move your coins off Etoro should you want to - on other exchanges you can transfer them to any wallet or other exchange. You cna't do that on Etoro. Also, on other exchanges, you can have your overall holdings in a crypto, and sell off parts of it when you want to. On Etoro, each 'trade' is sort of like a block - when you want to close the trade, you have to close the whole trade, not just a part of it. A way round this might be to open many smaller trades ina crypto rather than 1 big trade with the entire amount you want to invest in that crypto - it's up to you though, it really depends on your goals. I'm currently copytrading through Etoro, and also buying other coins which aren't listed on Etoro on other exchanges. Hope that helps a little.
Hello copy trading vlog my question is that etoro says it can keep your money safe as long as you have less than 250.000 does that mean if you have more than that they can legally steal your money?
Social Trading Vlog 3:35 They charge upon deposit & withdrawal a conversion fee so for EUR to USD it's 2.5% (250 Pips) of the total amount so when u just deposit & withdrawal ur money they will take 5% of the total amount & add to that they also charge $25 for every withdrawal Can u explain to me why u think the withdrawal fees are good?
Hello there - yeah I actually went and asked them about their conversion fees as I was told they were competitive but wanted to see how Etoro had arrived at their figures - I asked how their conversion rates compared to large banks or popular foreign exchange conversion services and all they said was that it varies from country to country so you'd have to check in your own region as Etoro is worldwide. So I asked if they had maybe checked with the top 5 global foreign exchange providers and they said nope, they hadn't, again because the rates varying between nations. I thought this was weak, and more could have been done to reassure people if it was a good rate. They suggested I go into my local bank and check and that I'd see the rates were in line with what the banks are offering ... I did read around and found articles like this: www.huffingtonpost.com/allan-smith/foreign-currency-transfer_b_8298304.html which suggest that the banks do indeed charge roughly the same rate and companies like Skrill or paypal actually end up charging more because of additional fees. There are dedicated services mentioned in that article, and I'm sure it's possible that Etoro could have charged less - what I was trying to work out was whether it was an out-and-out fleecing compared to the rest of the market - which it doesn't appear to be. It may be a fleecing, but it's a pretty standard industry-wide phenomenon. Hence the rise of cryptocurrencies and people's hopes for the future of decentralisation to bypass all of these fees. ALTHOUGH on a separate crypto wallet just yesterday I was charge over 2 euros for transferring 10 euros' worth of Bitcoin to DECRED - it was 'network fees'. I've signed up for over 10 crypto exchanges in the last month and their fees are just as bad. So no, I don't think the fees are great, but I can't yet see anywhere where they are great which also offers the functionality of Etoro. About the withdrawal fee - the video i released straight after this one is about how they'd changed the withdrawal fee to a minimum of $25. When I made this video (or the day before) it was still only a $5 withdrawal fee up to (I think) $500 which really wasn't bad at all.
Social Trading Vlog Yes, that's true when you made this video the withdrawal fees were less than now, I live in Norway and even though it's a very expensive country, but still bank fees are really not that bad, for an example to buy/exchage foreign currencies they only charge a small fee of $6.15 that's it, But Etoro charge a minimum of $25 and a percentage of the total amount, in my opinion that's ridiculous 5% is a lot of money, I was thinking to invest $15K with them, but making money after automatically losing 5% of the total amount is really not a good deal, I'm currently searching for a better cheaper alternative and hopefully I'll find one soon.
Hope it goes well - let me know if you find one - I'll check it out myself :) Soon the decentralised exchanges will start appearing, then it's all going to get very strange compared to now ...
Okay my question if the money comes back to the credit card does it actually stay on the credit card or comes back to the account? Because if i am not wrong credit cards have some limits on them right? I am confused here I don't know if the question is even right
I really don't know enough about how your specific bank handles its credit cards to advise you there - sorry about that. Maybe just check with the bank on that one - they've probably been asked it many times before. I've had credit cards which tie directly into my account, and I've also had others which i have to sort of pre-pay and top up... So I think it depends on the type of card and the bank you're using.
I wouldn’t say they are a scam, but I would say they are not the best brokers out there. I’ve noticed slow transactions and a lousy format. I’ve only used their demo and that was enough for me to see they weren’t for me. NetDania is a much better format with some pretty accurate predictions.
That sounds horrible. I haven't had anything like this happen, although the other day, for the first time, I had an open order for Apple which suddenly disappeared. That's the closest I've got to this sort of thing.
This video is brilliant. I just want to make some extra cash on the side as I am currently a student in college and im also working.. This would be a great chance to learn more on the market and stock. Cheers for the video I will definitly give Etoro a go
I haven't got any new dramatically bad information, so my view is pretty much the same. They've added some new functionality and more cryptos, and changed the minimum trade sizes (not good for beginners) but as for "is it a scam" - i still don't think so - they're even bigger than they were and have even more to lose if they scam people and get busted.
Hey everyone! Thanks for watching. It's 2019 now, and yes, I'm still using Etoro :) They made me a Popular Investor on New Year's Eve 2018, which is very exciting for me!
Here's my profile if you'd like to see how I'm currently doing : etoro.tw/2rcYYm0 . Thanks everyone for watching and supporting the channel, I really appreciate it. I'll do a follow up for 2019 soon I think, but so far, I still think pretty much the same.
But the real question is, did you actually made profits from this platform??
@@beyondintervals6606 He did not. Have a look at his etoro profile - the link is above.
Hi Please help. I want to transfer my equity amount into my available amount in order to withdraw money from etoro? It appears that my equity amount is locked in. How do I unlock it?
@@sq7ikr 😂😂😂😂 its emotional
Did you find an answer to this? Is it that your money's just tied up in active trades?
i legit had an etoro ad before this
My adsense revenue really jumped this month - I think maybe Etoro are doing a big promotional push or something.
Same
Polar Playz me too
@@SocialTrading is useless they will fall
Same
You look like Simon Cowell's little brother
So they say :)
Thats because he is simons lil brov
Simon Cowell scares me, he's very calming
Simon young version
Simon Sheepwell
okey i will try it but if anything happens to my $23.52 your gonna get a beating.
The big boys table eh... Nice :) Me too...
XD
So what happened to your 23$? Asking for a friend
Pu5sy Devourer why?
@Pu5sy Devourer any explanation? I did like to hear how it’s scam
"Im afraid etoro's gonna take my money"
*proceeds to put $1000 into etoro*
:)
Hahahaha darn rich
It will not take your money just invest slowly in difrenet things not all in one, I already earned money at first, but don't expect you will earn big money fast
They will stay away! Go for big brokers like XTB, IG, Degiro....they are scums
that is the part that makes it ( not to be trusted ) well for me.. anyway, I am wanting a real one so bad.
I think that this man owns etoro, works for it or is paid for doing this videos or get some earnings from etoro
I am an affiliate, but that took over a year to make even the first few hundred dollars... Now they made me a PI, (one of the people who can be copied on the site) so if I do well with that I could eventually earn money from that (but that only happened on the last day of last year). And nope, I don't own eToro :) That would be a brilliant twist though - "Usual Suspects" :)
Loving etoro so far. Made 2000 usd just copying, just like in school xD
nice :)
How long it took to make that $2000.
It depends how much money they actually were using to trade... You have to think of it in terms of a percentage gain rather than money. If you have $100 to trade with and you make 10%, you've made $10. If you have $1000 to trade with and you make 10%, it's $100. It depends how much money you have to trade with and the percentage gain or loss.
@Social Trading Vlog what are you'r thoughts on etoro's status on trustpilot?
How is it going so far? Is it a good way to invest ?
Does not seem sincere. It more looks like a promo channel. Every platform has pros and cons, but this guy did not mentioned a single bad thing.
He might be working with Etoro as business partner. lol
He did, he said its annoying that there are fees for withdrawal and the fact that they call him up
there are other things too but I just wanted to address the "is it a scam" idea. that was my first concern..its different from a full review. Once I know its not a full-on scam then I can decide if its good compared to the other legit sites.
The withdrawal fees have gone up. It is now 25 dollars fee for any withdrawal over 50us
yep, that's true.
+1, it's 25$. I'm in there too, look for PlayBass. Cheers!
You're doing well! nice :)
how long does withdrwal takes i requeted mine on 11/29 and no response from them
scary, did it come yet?
Thank you for explaining quite a lot of things.
I must say I have never come across something more difficult than trying to understand how much etoro will charge you.
Consider this: if you have EUR or GBP, you're looking at 0.5% and 2.5% respectively to deposit, then same again to withdraw. I guess that already adds up to 1% and 5% respectively.
Then you should consider what rate they apply when they purchase a stock in EUR or GBP, this is a mystery and isn't written in the help centre as far as I know.
I must conclude that the conversion fees and what revolves around it on etoro may be fair like you say, but I just can't get my head around how much they are actually charging you.
8:34 whooo i admire your losing enthusiasm
Update from their FAQ:
Does eToro charge withdrawal fees?
Yes, all withdrawal requests are subject to a $25 fee.
Yeah, there was always a withdrawal fee, but they used to be in tiers - a little while ago they changed it to $25 no matter how much you want to withdraw ...
no they changed it now to $5
Hey Thomas, I have a question/concept for you! "When to add money to a trader (and why!)?"
I've been giving this a lot of thought and you want to add money to traders who are doing you good (making you $$), so it would be natural to add those funds to that trader when you see they are doing well, while they're on a streak/right at the top, but I've found that hasn't been good to maximise profits. When a trader has a good streak, it's often followed by a small drawdown, so when you add funds at the top and the following trades are losing trades, they will cause even bigger drawdown than if you didn't add funds to begin with. I think it's worth being patient when it comes to adding funds, this is basically being extra safe with your money. Wait for a drawdown (even if small) to occur before adding funds - essentially like buying the dip.
Would love to hear your opinion on this! (video idea!?!?)
:) I really haven't made my mind up on this one either. I've had the idea of rewarding the lowest risk traders with the highest copy amount for now, but I already have seemed to bend that today by not keeping Bariera (who i just copied) at the bare minimum seeing as he's well outside my max yearly drawdown limits. However, that does come from observing his chart and seeing the very very low drawdowns for everything but the first part of the last 12 months. We'll see. I think keeping the riskier ones as the lowest percentage does seem sane though. but then is it? as don't you want to maximise the gains of those on a streak as you mentioned. Then it gets into the question of why keep riskier ones in the portfolio anyway, even with less exposure in the porfiolio. If it's for their potential gains then isn't that subverted by keeping them as the least-funded of the portfolio? Aren't I essentially saying "I don't trust you really"? Wouldn't it be better to just pick only the ones who I would feel totally comfortable adding as much funds as i could to? I think that may ultimately be the way I go really, but I'm not quite there yet.
It's a good idea for a video yeah. I don't have a solid answer for now, just still working through it, but eventually that one will get made :)
Just put 200€ into it and withdrew, now I'm waiting for 2 days to see how things will go.
Yeah, I did something similar i the beginning just to check :)
What an honest review. Thank you so much. I'm on it!!
Thanks :) Hope it all goes well. I'm still learning really too.
soooo. how did it work out for you
I have used eToro now for several years. The platform can be buggy at times and the spreads are on the higher end of any trading platform you'll see but I forgive them ease of use and access to the social aspect and seeing every elses portfolio can be very helpful especially for beginners. Never had any issues withdrawing money or anything like that, it's not a scam. Been there since late 2015
Thanks for adding your experience :)
how much did you invest on etora and ho much did you make so far??
gee.. i just put 500 in etoro.. and then so your title : is toro a scam? I was like.. nooooooooooooo
hehehehe. Hope you're feeling better now
just put 50% in btc.. im more cautious in trading than in etoro now.
I put 2000 USD into eToro. They fail badly keeping their deadlines, this is what worries many people, including myself. However, when I withdrew fund it all came with only a slight delay, and everything I was entitled to, including profits.
Just did same thing with a 1000 hahahah
La Vida en China 😂😂😂😂😂😂😂😂😂😂😂😂😁
Thanks... Your Video is like the help button on etoro. Every questions that i have, you've explained clearly... thanks
You are AWESOME for starting this VLOG!! Info and guidance is really what everyone needs when starting anything new in ANY field. Investing and trading is no different and you are a blessing for being a leader in this, especially in TH-cam. You rock
cheers Drey ! What a very kind comment :) Thanks a lot
I don't understand so is it a scam or not ?
Hi, informative videos :)
From my reading, there is insurance if things go pearshape, but not for any crypto trades. Also, i think that them sending your withdrawls in small lots is not such a bad thing as it may be under the reportable amounts. I once was in a bank when some asian ladies were trying to send bundles of cash out of the country, and when the teller said she would need i.d. or something, because the amount was over 10k ( the reportable amount), the ladies just made several deposits of 5k.
smart ladies ... :) Thanks about the videos - yeah, in the 'cryptocurrencies addendum' it does say that since cryptos are 'unregulated' they don't fall under the protection of the insurance scheme. Sobering thought that one...
Thanks man very informative, now im eyeing for this to join and start with small and see how it goes.
I'll copy you once Im in! 👍😂
Thanks man :) Much appreciated!
1/ Etoro always fils up your order higher ( long ) than your planned entry . You are in debt at entry. It is not related to spread or at market price. Don't get confused on that it is far different.
2/ Etoro forces you to set minimum stop loss "bigger" than the one you have planned for .
3/Etoro forces you to take minimum profit . You can not control your remaining position size on an opened trade .
4/Etoro limits maximum profits at entry .
Etoro over controls your trades. They basically act as a " pimp" .
It show how many greedy sheep get caught in not informing themselves properly. CAREFUL .
Hey, thanks a million for your videos. I'm just starting with the platform too and some of then helped me quite a lot. Thanks for your sincerity.
Thanks Steve :)
well that's was helpful . u spoke my mind so subscribed immediately .. keep it coming .
Thanks :)
Well, B.M .... any revenues ? am going to join the show
The good news is, since this video has been made, eToro has reduced it's withdraw fees.
Withdrawal Amount (USD) Fee (USD)
50.00 + 5
Yep, down to $5 which is good :)
Is it only 5$ to withdraw now?
Subscribed - Awesome videos loaded with practical examples and step by step tutorial for a noob like me - thank you!
Thank you so much man - if there's any ideas for videos, please let me know, as I started about a year ago now, and it's hard to remember all the things which seemed confusing - everything was confusing at first (a lot still is)
Thanks - the one problem I'm having with copying is that certain trades in my investor's profile reflect "pending open" and I did select copy open trades? Can't find anything on the resource guide
How long have they been pending? Might it be that they were assets where the market which trades them wasn't open yet?
Thanks was noob panic. The different exchanges open at different times, so the pending open meant that the trade was pending the exchange opening. Keep up the great vids!
Thanks man, glad it was a simple fix!
I am investing in Etoro, and im doing good hopefully its not a scam.
What are your thoughts now? I'm planning to create an account. Will I proceed with it?
Hi! How is it going? If you need any assistance on withdrawing, learning and finding better opportunities, write me!
is there an incurring fee if i just do "Buy & forget" strategy? is there like an incurring holding fee of some sort? thanks :)
Nero II Bautista no you won’t have any fee as stated by the platform, I’m doing the same strategy for long run investment dm me on Instagram @theblessedicon
There is 10USD charge if you didn't login for 1 year.
It's not legally a scam but they won't really tell you whats up. Giant spreads, fee's when depositing and withdrawing money and that kind of stuff
Do not use Etoro 1. Etoro thinks so little of its customers that it takes ten + days to send out a generic response help email to your customer support question. When the email finally arrives it is a templated response that dose not provide any specificity in its answer. 2. Etoro locked all of its customers out of the trading platform yesterday when there was money to be made for 8 hours. Etoro communicated to its customers once over a period of seven hours during this lock out!! 3. It takes ten +days for EToro to respond to your request to withdraw your funds from its platform. Hence my statement that Etoro is a third rate platform, that should be thoroughly investigated for dodgy trading practices. Etoro's loop hole excuse is oh we experienced technical difficulties again and again and again etc.
@tom keep your eye on Etoro’s announcements today to all the Dutch users with Crypto positions. The company has not obtained the correct licenses with the Dutch Bank, so will be closing all trades at some point in January.
Many will suffer from this poor decision and how badly it has been communicated.
Thanks for the time and effort. Great video. It will be interesting to see how much your camera purchase would have cost you in profits ;) Anyway, enjoyed the video and thanks for posting!
Cheers Christo :) Yeah, capital's everything in trading, but I've been enjoying the camera too, so all's good :) (I'm kind of impulsive and just wanted the camera fast!)
and yes, impulsivity and trading are a dodgy combo :)
Etoro does take commissions if you are operating in a weekend or if you trade at night. You just have to read the small sentences below everything
There are overnight and weekend fees on all leveraged trades, or 'Short' trades (when you're betting the value will go down and wanting to make money as it does)... For the most accurate information (it changes) you can go to their fees page in their halp section and you'll see it all outlined there.
obviously from experience, working with investment groups, you study or work with information the organization is interested in, Etoro does not openly provide information. Like universities, they provide books of information they will ask questions, later on, Etoro does not do this, if Etoro is there to help with work, it is illegal for people who withhold information that will help someone do their job better.
This sounds good, did I hear in one of your videos that if we trade, and it goes down we can owe them money?
I don’t get that. Am I right that we can only lose what we initially put in. ?
As far as I'm aware, there's 'negative balance protection' so we shouldn't owe them more than we put in. I wouldn't like to put it to the test though...
Yes I was trying to find your video about it, not found as yet
th-cam.com/video/A1iTColkAck/w-d-xo.html
the vid before it does also deal with a situation where you could potentially trigger this negative balance protection...
It looks like it changed a lot from August, to December. They are not answering support tickets, nor transfering the money. I'm really frustrated.
I've been having major problems with support tickets too - it's taking them around a week to answer, which really isn't good enough. I think what's happened is too many people have signed up in a short time (at least this is what they told me...) and they're having trouble getting more staff in to deal with the extra questions from customers. Sounds weak though - they should have thought of that - it's incredibly annoying, and I get very worried - even now, when they don't answer. I always start thinking "Uh oh, something's up..." But for now, I'm going to give them a little room and see if it gets back to a decent running mode again soon. I think it's this Bitcoin influx. It could be.
When i clicked your video, sudenlly etoro advertisement showed up. Case or not?
It's Google trying to make as much money off you as possible by showing you ads relevant to your interests...
I went to see in google maps were was the location of the etoros in the canary wharf and, I only saw bad reviews saying things like :"Be careful these guys are cons you'll get to a voice recorded message !" Robot voice keep repeating. Hold for 37 minutes and never responded. Keep away from these people"
I found very strange since you said you dindt have any problem with the company...
Sorry for my bad english...
What did you decide in the end?
been etoro 1 years, satisfied with everything just spread fee are annoying..
True. And minimum trade sizes. And inability to move cryptos off Etoro.
It's all very well telling people that Etoro is safe but that statement still needs caveats. I put £200 into Etoro about 6 months ago and over that period of time I made a nice 15% profit after accounting for various fees for the transactions. However when I withdrew the £25 withdrawal fee absorbed most of that and in the end I only made about 5%. So telling people that they can follow traders with a minimum is not really good advice. Etoro works but you still need to be risking large amounts to make allowance for this.
Yeah, I've actually said that in other videos... I started off thinking I would copy 10 traders, each with the minimum $100, but I soon found this got incredibly frustrating, so I'm now copying fewer with more.
i deposited 200 dollars and got a return of 60% this month only to pay 130 dollars in "fees", definetly not worth using this platform when they charge this much in "fees".
Hi there - what fees were they?
Hi Tom, Slowly getting through your videos, I'm picking up what you had to do to set up your account, I have set up an Etoro account but wasn't asked for ID would you say I have set up the account properly?
I've heard people having trouble if they didn't fully complete the verification...
I’m watching this now in 2020 and there’s a massive furore over Hertz stocks at the moment. Any opinion?
I really liked your way of explaining the experience 😊 I had to think about etoro more than a year till I actually got into it and started trading two moths ago.. and I can feel all your feelings you explained.. I like how spontaneous you explain stuff, and I'll be happy to watch your videos and exchange experiences.. and specially that I'm a filmmaker, too. So that makes it more interesting 😊 thank you
Cheers Sandokji!, That's really nice to hear. Much appreciated :)
Thanks for this detailed and plausible review!
Thanks man :)
It is pleasant to listen to you . Thank you.
Thanks :) That's very kind of you to say.
hi! im new to social trading, i just have a question, can i also apply "Buy and Forget" strategy on Etoro? or is there a fee that would be incurred if i don't trade my money? what if i choose not to copy and just let my stocks rest there, will there an incurring holding fee or something, that would pile up over time? thanks! just subscribed! love your channel :)
What Nero said. I wanna know if i can Buy and forget about it for 10 years or more.
@@kimslip There is no fee for that, you can absolutely do that!
this chap is so human i love it
Cheers alexander - really kind of you to say :)
I watched three of your videos in 40 minutes and they are very good. Thank you for sharing your experience.
Thank you so much :)
I am no longer able to trade with etoro. Becasue I am a Candian. over 2 weeks still no response for my withdrawl. Gave in all my banking info. Left in the dark? wtf?
Did you get it back in the end??
it is good for old customers because old customers can open stocks with 50 dollars with x1 low leverage but for new customers you need to pay 500 dollars for x1 leverages so you will always loose money if you use high leverage.I advise etoro to treat all the customers same.
Yeah, I'd say that was a good and fairer suggestion too!
Etoro is big scam 😒 you'll never see your money again. I won big amount and since long time haven't received any cent. Take care don't invest your money at etoro trade. Etoro is big scam 😒
Just a quick note, after August 20th 2017, the withdrawal fees will now be $25 (flat fee) for withdrawing any amount. Just a heads-up for newbies.
oooo, didn't see that one, thanks! Now i just have to figure out how to go back and update videos! :D
You're welcome. Yeh I only found out, because the PI traders got an email about it, then the rest of us found out via the newsfeed, then I asked eToro myself and they confirmed it. Maybe you can add a pop up comment box? I don't know how you can edit videos once they're uploaded, I think maybe you can't? Not sure. Maybe you can add it in your comments description? btw looks like that camera you bought is coming in useful including your film school training! You look like a hollywood actor yourself!
I'll think I'll just do a tiny update or something. I've wanted to make some shorter videos anyhow, so maybe that can be a micro one :) I pinned your comment for now, so thanks to you they're getting the info! And yeah, it's great to be making videos again - we live in a very cool time if you want to create stuff.
Thanks! Yes that's a good idea. The more popular eToro gets the more useful and significant your videos will become. You are the pioneer! I envision in the future eToro will become as mainstream and synonymous as FB. So in a way, we're actually "investing" in eToro itself. Yes creating stuff is what humans love to do. Good luck with your future video content! Your channel is going to become very famous one day.
Also the minimum withdrawal amount is now $50.
Thank You! I feel a lot more comfortable knowing now, I Can Get My Money Back :) Like you I've just let my money sit and it has gained, now I'll watch your vid on Copying and take it from there.
Glad to hear it's going well :) Who are you copying?
Thanks for your reply :) Who would you suggest? the funds I had went into BTC, I'm thinking of adding more funds, (God willing), and investing into Ethereum or IOTA, what do you think?
Thanks again and Kind Regards!
I don't know who to suggest really, you can look at my profile and see who I'm copying, but I have no idea if they're right for you, and what you want. My profile is Thomas370. They do trade BTC among other things, and a little Ethereum. IOTA isn't available on Etoro - I believe it's listed on Bitfinnex (a different crypto exchange) I actually wanted to buy it too :)
This platform is scam, i opened a account but when market goes up or down you can’t close your position or you can’t open new position. Even they hiding sell-buy buttons. If you can try to close your position system not responding immediately and put your claim pending mode then after 5-10 min late they close your position when price goes down. Basically they made this platform to steal your money.
If you don’t believe me go to etoro official Twitter page and see how many people fighting with them for take back their money.
Newb question, why are you made to verify your account to get a smooth withdrawal, especially if your being credited back to the account you debited from. is your data being collected for 3rd parties?
I don't get it crypto is sold on the basis of fluidity and speed doesn't this defeat the object?
Hi there - I'm not entirely sure why they all do it - the real reasons - I know that they all say it's because of anti-money-laundering laws internationally, but I'm sure there's other reasons. I say why "they all do it" because I've signed up for around 10 other purely crypto exchanges, and some of them ask for even more documents for account validation. Some of them even ask you to get a piece of paper, write your name on it, the date, and the name of the exchange, sign it, then take a selfie holding up both the paper with your details and your id card in the same shot :) It's like some sort of hostage negotiation or something - it's incredible. I guess someone really really wants to track all this money moving around somehow.
The HARD PART here is withdrawing your profit. They make you the go around.
Hey dear, we are dedicated on providing you consulting on how to recover your money and not only that. Ping me for more...
On the crypto side Etoro has you trapped. Once you buy you cannot send your crypto to other sites and get staking rewards. They have a wallet that only supports 3 types of crypto coins, anything else you have to liquidate your funds. Also very important, they say there are no fees but that is not true. Etoro takes a 2-4 cent premium on each coin. Check out their coin prices versus Coinbase, Kraken or Voyager. Etoro is always a lower price. They are extremely unethical in their dealings dont do it!
I'm afraid I don't agree with you at all. The scam is in the hidden costs. The fact that they convert every currency into USD and charge you a healthy sum for it, and then AGAIN, when you change back to your original currency is an insidious rip-off. On the first page of their website this is not stated at all - in fact I couldn't find anything to this effect anywhere. Serious investors go elsewhere.
I wouldn't call that a 'scam' though - more a feature of the platform which is annoying or pricey, but a 'scam' is something else surely...
ABSOLUTE NIGHTMARE. FIRST THEY HOLD YOUR CRYPTO FOR 120 DAYS (NO REASON GIVEN) THEN THEY RESTRICT YOUR ACCOUNT AND WALLET WHEN YOU FINALLY TRY TO TRANSFER. THEN YOU HAVE TO DO THE WHOLE KYC THING AGAIN. THEN WAIT SOME MORE. CRAP
Etoro is a scam, they took $1000 off me and now its generated $3500 I cannot withdraw any of it and get an error message when i try to. The support don't get back to you.
It's not a scam. Be patient with the support team, they will get back to you
Eventually they did but cs is terrible
2021 here and it’s now changed to anything above $30 will have a $5 fee which seems good.
Etoro is a scam. You buy something there and if you earn more than double then they constrained with your account. Don't listen to those people who never earn more than double with their own capital.
omg people.... just sign up with coinbase or gemini if you wanna buy cryptocurrencies. Etoro is where you buy the price difference and not the actual coin.
Hi Josh - no, actually you do now own the actual coin on Etoro too if you open a 'buy' position. If you open a 'sell' position it's still a CFD, and any position opened via copytrading or in the 'cryptofund' are still CFDs, but if you 'buy' then it's the real cryptos. But you can't move them off Etoro, which isn't great at all - I think they're trying to wait until they've developed their own wallet. I use both - i copytrade on Etoro, and then use binance, coinbase, bittrex and bitfinnex for other coins. Check out Bitfinnex's 'peer-financing' - very clever, and a way to make interest on your large cap cryptos even whilst you're just holding them. I wish i knew about that one before ! :)
i'm amused, how do you own the actual coin without a wallet?
It's stored in a 3rd party wallet - they're releasing their own wallet later this year (they say).
you're right though - it's nowhere near as good, having what is basically an IOU, as having your own coins stored in your own offline wallet...
Finally, now I understand what spread fee is, thank you 🙏
Glad it helped a little :)
Don't believe Using Etoro to Invest in Financial Markets? Tired of it?
No Worries! Meme Man will Use Onion Bot to Invest in Stonks!
Thanks for the video, very helpful.
Thanks man :)
Just Wondering why I did not find your great videos before!!
I was in doubt from last year whether to Enter Crypto or No? And it has costed me the difference between BTC on 600$ and 20K$.
And I'm still waiting more than a week for eToro to verify my account!!
Like missing lots of opportunities these days!
Yeah, it can be frustrating. But watch out for that "FOMO" - Fear Of Missing Out... It can lead to some bad decisions (at least it did in my case many many times) That's why I'm just copytrading for now - let someone else apply all the wisdom and scrutiny for me :)
and thanks!
Have you been verified?
already subscribed after this vid, love your charisma.
I deposited 300 aud and it exchanged to 234 us dollars, if i withdraw that money will i lose money because of the exchange rates?
Thanks.
Hi Kirk, thanks man :) Is that a good exchange rate from AUD to USD? I don't know what the normal exchange rate is - some people say that Etoro's exchange rates are very competitive and some say they're really bad - I wasn't sure who to believe so I asked Etoro directly whether their exchange rates were competitive, and they said they were but couldn't give me any hard facts - I asked whether they'd compared them to the top 5 banks or anything and they said they couldn't give me any information on that (which I thought was quite a weak response) and they said it was best to just go to your local bank or exchange provider and check the rates yourself and see whether it's fair.
Yes, there is an exchange rate charge when money goes into Etoro and when money goes out of Etoro (unless you're funding your account with USD directly). There's also a now standard $25 fee for processing any withdrawals of money from Etoro. It used to be in different tiers depending on the amount you are withdrawing, but they changed that to a standard $25 fee for any withdrawal (that used to be the maximum amount).
Social Trading Vlog Okay that makes sense. Keep the etoro vids coming bro hopefully we can all learn together and make some some extra pocket money :)
Yeah, thanks man, I think I'll make one just about the people who's videos I'm watching - especially the ones who lay bare all the possible risks in trading and how to stay safe. I really came here for copytrading, but there's absolutely no way I could stay away from having a go myself :)
@@Sub_division_ Did you manage to make some money?
I am from Israel. It's a fact this company and similar companies were kicked by our government from my country because of fraud complaints. over time people lose money and didn't get it back so I am guessing that all of your user experiences are based on one-time trial and a short one. second, I would like to know how much money you invested and what was your profit in percentage. from what I understand its kind of honey trap to first lure people to register and invest money and later over time the "surprises" will come. you can call it a continues scam LOL
Were they really asked to stop operating in Israel? I've been using it since 2016.
Etoro took my money from my bank account ..which I didn't request..and it didn't appear in my Etoro account. They simply refused the refund..by saying it was added to my account.. when it was not added.
It happened twice. :((
Best to get in touch with your bank directly - as far as I'm aware a bank should never be able to transfer its clients money without their approval...
@@SocialTrading I was into Etoro for a while, until I wanted to liquidate and withdraw some funds for the first time, and they started asking me questions about why I'm withdrawing MY MONEY! At that moment I pulled everything out and left Etoro and haven't looked back. Don't ask me why I'm doing something with MY MONEY! You don't need to know that.
am glad its legit , please keep uploading , you motivate me , am starting in etoro soon , i am now 1year on my vertual , now am going real :D
you going to try to trade yourself or copy people? I really did lose money trying to trade myself in the beginning - if i could go back in time I'd use most to copy people and only trade myself with a little bit, and at first force myself to not use too much leverage :) But you probably know way more than I did when i started trading!
and thanks again man, it's always appreciated!
i hope i have a nice starting , and thanks
Best of Luck!
That's awesome LEGEND, good luck with the real life trading! Wow one year virtual trading - that takes a lot of determination and motivation. I am impressed! Not many people have the commitment to stick with virtual for that long, as it's too exciting in the real account. I did 2 months in virtual before going real :-)
Was the first broker I used, I made a lucky trade, listening to the news on tv. 150 turned into 9500. Withdrew money. 10 years ago now. I don't know why you would use them to trade.. use a real broker. But I did get my money so anyway
Sounds fantastic :)
I really came to Etoro because of the copytrading, as I want to automatically copy people who can make regular steady gains. I can't... I tried. I'd get lucky sometimes, and then lose it other times. I was getting better at it to be fair, but then that old risk-taking streak surged up again and I lost the profits I'd made, so for now, I'm just copy trading again.
If your copy trading I probably wouldn't be using etoro.. I don't know any real trader who uses it
Jaynemesis and quite a few others seem to know what they're doing and be getting really good steady gains - they're the guys I'm copying.
Up to you though obviously - there may be much better systems out there :)
On the "spread fees" - is that the loss I make if i buy/sell and then immediately close?
Etoro is a big scam be carefull your money will not get back
They probably sen it in smaller amounts, as it is free to send below 10k €. All above costs quite a % fee.
hi there - how do you mean?
If you send a SEPA payment in Europe from country to country, the big change this year is, that the payments are instant. If a person send 100 € from Ireland to Finland the transfer is instant and it is free (currently). The banks in general do not hold the funds anymore like they used to, and my guess is the reason are the negative interest rates ? (but I dont know real factual reason). If you send 11k to Finland from Ireland, they will charge a % fee which depend on the bank and can be 25-45€. Sending SEPA payments outside Europe is more expensive, but I think etoro has European accounts. This is why ETORO might send the withdrawal funds in smaller "packages".
ah, I get it - good thinking!
I'm not a big fan of etoro, but I can see why you want to promote it as an affiliate! :P
How come you're not a big fan?
im gonna begin with etoro. And Im gonna follow your example..
I hope it goes well. I wouldn't follow everything I did though - I lost around 38% in my second month by basically gambling before i knew what was going on :)
@@SocialTrading :-:-):-):-)
Love how you being so genuine and optimistic.Hello from Taiwan! :)))
Hi there :) Thank you. Hello from an extremely hot and humid Malta !
lol love this vlog!! It made me laugh. I know I felt the same way when I first wanted to join, I was so scared. You gave me the confidence to join it - I watched your vlogs 2 months ago. Thank you!! :-) I love eToro and the community, I am learning so much about trading. Keep the vlogs coming!! We need people like you to give newbies out there the confidence to join too.
Thanks so much Lala :) Hope it's all going really well!
You're welcome Thomas, I am really enjoying watching your vlogs! I'm slowly making my way though them all. I started watching right from the beginning! Currently watching your fourth vlog as I write this!
Yes thanks - trading going well, I am learning so much!! It's challenging and fun.
When I first joined eToro (after practising for 2 months in virtual before joining the real account) I wasn't going to trade myself, and just copy the PI traders, but I couldn't help myself! haha I just love "the game".
I love trading myself now, and learning about candle stick trading, stochastic analysis, and I'm learning a lot from my traders, they're so great and always happy to give me investment and trading help.
My investment portfolio is now my own trades, and my 5 top traders I spent 2 months analysing and testing in the Virtual account.
I can't wait for the market to open tomorrow and the FX market to open tonight! haha Weekends are now "oh the market is closed bummer" haha. And so then I focus on my crypto trades since that's the only market open at the weekend. I've become a junkie trader lol. I need my fix haha. I totally get it now when they say "it's not about the money, it's about the game" Wallstreet - Michael Douglas haha. I finally understand what going short is! It's not until you actually do trading that you get all the vocab. When I watched The Big Short, the financial terms totally went over my head, now I get all the financial terms and it's so cool!
Sorry just written an essay :) Catch you on the inside!
hehehe. Yeah, it's totally addictive :) Jay's live streaming is really useful actually, although he's off doing a Gaming convention in Germany this week so won't be doing another until the 29th I believe (there's also a discord channel now too where there's constant chat). The Big Short was a brilliant film!
Yes I agree, I've watched a few of his streaming videos - they're really helpful, learning a lot about cryptos from him. haha yes, I love that film!!
thank you. you have settled my fears
Heya Sam, hope it all goes well!
So i understand the GBP to US when depositing funds, so what happens when you withdrawing funds will it then change back to GBP and will use the current exchange rate thats on eToro (US to GBP) ?
Hi there - it will use the exchange rate listed on their fees page. So basically, I think the way to do it is to take the current exchange rate they list, and then move it however many pips they charge (obviously you move it in whichever direction gives you less money...) A PIP is one 10,000th of the quoted price. it's the smallest amount a forex pair (except ones with Yen in them) can move. All forex is measured (apart from Yen) to 4 decimal places - eg 1.2345 - so if that last 5 changed to a 4, it would have moved 1 pip. find out how many pips they charge for your pair. move the number to take away whatever pips they charge, then apply that exchange rate to whatever cash you're removing. (i should make a video about that ...) And yes, they charge the exchange fee on deposit AND on withdrawal.
it is a scam, they will ask for utility bill with your name on it, the problem is i rent my house and the utility bill is under her name, so it looks like i am going to lose my thousand dollars, would rather have donated it.
Did you get this worked out in the end?
I got this case also
Can you help me bro to solve this
Thanks for the info, I believe 90/90/90 is ideal on CFD platform. only 10/100 are able to make profit. which wallet do you recommend for crypto?
Hi there, and thanks. I actually can't recommend any wallet yet as it's still a relatively new area for me (the traditional crypto exchanges) and I haven't made any decisions yet. When i do, I'll let you know!
If you upload funds and then buy Bitcoin on there, can they transfer the bitcoin to another bitcoin wallet? Or is there a way through there new etoro wallet?
This is something I'd really have to find out for sure. I know they have their wallet, but as far as i can see there are still restrictions in having your private keys etc, so I don't use it. I still use other exchanges and Exodus for my pure crypto holdings. I think they're working on it furiously though, trying to get everything to out-compete their rivals. I know they have an actual crypto exchange now - etoro x - but I asked, and I'm not allowed to make videos about it yet.
wallets that don't give you private keys are dumb. I got burned on one called Multibit. There website is still up but they claim they're closing up the site. So what they claimed was that they got hacked and that's why everyone's money went missing. But it's probably and inside job. Likely it was only a small amount. With etoro I was thinking they looked really good. But it's one of those things were you can put the money in but can't get it back out hardly at all.
eToro is probably the safest platform to dabble with trading on AND it offers crypto trading, way ahead of the similar competitors.. eTorox is coming soon too, its going to be big for token trading. No scam here, this topic is just ridiculous. If you are expecting to VPN and try to avoid KYC then go and play somewhere else, this is a legitimate operation.
They're going to roll out the full version in the States too once it gets past the SEC apparently. Yeah, VPN solutions really really don't seem a safe way to go. I wouldn't try it either.
After I invested real money in June this year all those people that I copied or saved in my watchlist started to drastically losing their profits(they all seemed to be doing well before I putting money into real account) ,
now I am wondering if they are real people or just virtual profiles? does etoro manipulate those profile stats? or it was just the market happened to be doing badly in recent months?
Mine have all been doing badly since January... Who are your ones? I doubt they're just altering their statistics as that would show up in comments from other people copying the traders who suddenly see the stats and returns change. I could be wrong though.
Hi Thomas, fab video. I caught the Crypto bug and bought $600 of Ripple at 0.39, so it's doing ok, what i am having trouble it is this, how the hell do i sell some of my trade, genuinely can't work out how to do it, have you made a youtube video on how to do it? or can you guide me
You mean on Etoro? Etoro's crypto trading works differently than other crypto exchanges - you can't sell part of your Ripple (unless you opened lots of small trades) and keep the rest. It treats each "trade" as a block (sort of) so each trade is opeend, and if you want to close the trade and take your profits, you have to close the whole trade, you can't close part of it. Some people get round this by opening several smaller trades, rather than one big one, so that they can close smaller proportions of their overall holdings in an asset should they want to.... Hope that helps - sorry for the late reply, I've been away.
Im mainly interested in Cryptos. IS there any downside to buying and holding cryptos using Etoro? I use Coinbase but want to get some Ripple & Dash, it seems easier then setting up multiple wallets. I understand I wont actually own the coins; purely for an investment. Thanks
well, technically, if you're buying the coins on Etoro (not through copytrading, not 'short-selling' them, and not investing in the crypto fund) then you do actually own the coins - at least that's what Etoro says. I'd say the main drawback is that you can't move your coins off Etoro should you want to - on other exchanges you can transfer them to any wallet or other exchange. You cna't do that on Etoro. Also, on other exchanges, you can have your overall holdings in a crypto, and sell off parts of it when you want to. On Etoro, each 'trade' is sort of like a block - when you want to close the trade, you have to close the whole trade, not just a part of it. A way round this might be to open many smaller trades ina crypto rather than 1 big trade with the entire amount you want to invest in that crypto - it's up to you though, it really depends on your goals. I'm currently copytrading through Etoro, and also buying other coins which aren't listed on Etoro on other exchanges. Hope that helps a little.
Social Trading Vlog Thanks for the reply. I hadn't thought about the fact I have to sell them all at once.
Hello copy trading vlog my question is that etoro says it can keep your money safe as long as you have less than 250.000 does that mean if you have more than that they can legally steal your money?
Social Trading Vlog
3:35 They charge upon deposit & withdrawal a conversion fee so for EUR to USD it's 2.5% (250 Pips) of the total amount so when u just deposit & withdrawal ur money they will take 5% of the total amount & add to that they also charge $25 for every withdrawal
Can u explain to me why u think the withdrawal fees are good?
Hello there - yeah I actually went and asked them about their conversion fees as I was told they were competitive but wanted to see how Etoro had arrived at their figures - I asked how their conversion rates compared to large banks or popular foreign exchange conversion services and all they said was that it varies from country to country so you'd have to check in your own region as Etoro is worldwide. So I asked if they had maybe checked with the top 5 global foreign exchange providers and they said nope, they hadn't, again because the rates varying between nations. I thought this was weak, and more could have been done to reassure people if it was a good rate.
They suggested I go into my local bank and check and that I'd see the rates were in line with what the banks are offering ...
I did read around and found articles like this: www.huffingtonpost.com/allan-smith/foreign-currency-transfer_b_8298304.html which suggest that the banks do indeed charge roughly the same rate and companies like Skrill or paypal actually end up charging more because of additional fees. There are dedicated services mentioned in that article, and I'm sure it's possible that Etoro could have charged less - what I was trying to work out was whether it was an out-and-out fleecing compared to the rest of the market - which it doesn't appear to be. It may be a fleecing, but it's a pretty standard industry-wide phenomenon. Hence the rise of cryptocurrencies and people's hopes for the future of decentralisation to bypass all of these fees. ALTHOUGH on a separate crypto wallet just yesterday I was charge over 2 euros for transferring 10 euros' worth of Bitcoin to DECRED - it was 'network fees'. I've signed up for over 10 crypto exchanges in the last month and their fees are just as bad. So no, I don't think the fees are great, but I can't yet see anywhere where they are great which also offers the functionality of Etoro.
About the withdrawal fee - the video i released straight after this one is about how they'd changed the withdrawal fee to a minimum of $25. When I made this video (or the day before) it was still only a $5 withdrawal fee up to (I think) $500 which really wasn't bad at all.
Social Trading Vlog Yes, that's true when you made this video the withdrawal fees were less than now,
I live in Norway and even though it's a very expensive country, but still bank fees are really not that bad, for an example to buy/exchage foreign currencies they only charge a small fee of $6.15 that's it,
But
Etoro charge a minimum of $25 and a percentage of the total amount, in my opinion that's ridiculous 5% is a lot of money,
I was thinking to invest $15K with them, but making money after automatically losing 5% of the total amount is really not a good deal, I'm currently searching for a better cheaper alternative and hopefully I'll find one soon.
Hope it goes well - let me know if you find one - I'll check it out myself :) Soon the decentralised exchanges will start appearing, then it's all going to get very strange compared to now ...
Okay my question if the money comes back to the credit card does it actually stay on the credit card or comes back to the account? Because if i am not wrong credit cards have some limits on them right? I am confused here I don't know if the question is even right
I really don't know enough about how your specific bank handles its credit cards to advise you there - sorry about that. Maybe just check with the bank on that one - they've probably been asked it many times before. I've had credit cards which tie directly into my account, and I've also had others which i have to sort of pre-pay and top up... So I think it depends on the type of card and the bank you're using.
I wouldn’t say they are a scam, but I would say they are not the best brokers out there. I’ve noticed slow transactions and a lousy format. I’ve only used their demo and that was enough for me to see they weren’t for me. NetDania is a much better format with some pretty accurate predictions.
Hi there Chuck - I really came to Etoro because of copy trading, and it's working out for me so far. Hope you find what you're looking for ! :)
Thanks for the detailed review, you got a new subscriber.
Thank you! :)
I made a Buy of Dash when it was really low instead it bought Etherium and I lost a lot of money because I did not realize it. For me it is a scam!
That sounds horrible. I haven't had anything like this happen, although the other day, for the first time, I had an open order for Apple which suddenly disappeared. That's the closest I've got to this sort of thing.
This video is brilliant. I just want to make some extra cash on the side as I am currently a student in college and im also working.. This would be a great chance to learn more on the market and stock. Cheers for the video I will definitly give Etoro a go
Hope it goes well Artemis, and thanks :)
So November 2018 , is it still good to invest in ? Any update will be appreciated
I haven't got any new dramatically bad information, so my view is pretty much the same. They've added some new functionality and more cryptos, and changed the minimum trade sizes (not good for beginners) but as for "is it a scam" - i still don't think so - they're even bigger than they were and have even more to lose if they scam people and get busted.
Social Trading Vlog
Thank you so much !! I'm quite optimistic about it now
Do the copy trades actually work. Seems easy find a successful trader, follow them. How hard can it be?
Hi there, how come eToro doesn’t give me the ‘close’ option? Thanks for all of your videos, it helps a lot!!
You have to press the '...' next to the trade, then press close