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Etoro
Sept 29, 2020 17:58:17 GMT
Post by martin44 on Sept 29, 2020 17:58:17 GMT
been there for almost 2 years now trading stocks and crypto.... yr 1 +18%.... yr2 to date +14%... anyone else using it?
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Etoro
Sept 29, 2020 18:10:06 GMT
Post by martin44 on Sept 29, 2020 18:10:06 GMT
been there for almost 2 years now trading stocks and crypto.... yr 1 +18%.... yr2 to date +14%... anyone else using it?
One of those so-called "zero commission" houses isn't it.
Also based in delightful Cyprus if I recall correctly.
Bargepoles at the ready. Feel free to send us all to better places... as you say "zero commission"
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Etoro
Sept 29, 2020 18:14:03 GMT
Post by Ace on Sept 29, 2020 18:14:03 GMT
One of those so-called "zero commission" houses isn't it.
Also based in delightful Cyprus if I recall correctly.
Bargepoles at the ready. Feel free to send us all to better places... as you say " zero commission" Oh dear, I think you may have fallen into the trap. Best put tin hat on quick
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Etoro
Sept 29, 2020 18:17:09 GMT
Post by martin44 on Sept 29, 2020 18:17:09 GMT
Feel free to send us all to better places... as you say " zero commission" Oh dear, I think you may have fallen into the trap. Best put tin hat on quick Please explain... what trap...why tin hat?
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Etoro
Sept 29, 2020 18:19:39 GMT
Post by Ace on Sept 29, 2020 18:19:39 GMT
Oh dear, I think you may have fallen into the trap. Best put tin hat on quick Please explain... what trap...why tin hat? A certain poster has been known to take issue with phrases like "zero commission". He doesn't take prisoners!
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Post by martin44 on Sept 29, 2020 18:21:09 GMT
Please explain... what trap...why tin hat? A certain poster has been known to take issue with phrases like "zero commission". He doesn't take prisoners! You lost me.... again... what trap?
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Etoro
Sept 29, 2020 18:24:23 GMT
Post by martin44 on Sept 29, 2020 18:24:23 GMT
Please do not make un confirmable insinuations ... if you have something to add, please explain why.
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Etoro
Sept 29, 2020 18:27:48 GMT
Post by Ace on Sept 29, 2020 18:27:48 GMT
A certain poster has been known to take issue with phrases like "zero commission". He doesn't take prisoners! You lost me.... again... what trap? He must be sleeping. Sorry martin44, I guess it was an attempt at an in joke that has fallen flat. I'll get my coat.
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Etoro
Sept 29, 2020 18:29:18 GMT
Post by martin44 on Sept 29, 2020 18:29:18 GMT
good idea.... bye
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KoR_Wraith
Member of DD Central
Posts: 293
Likes: 297
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Post by KoR_Wraith on Sept 29, 2020 21:51:55 GMT
Please do not make un confirmable insinuations ... if you have something to add, please explain why. There's another thread where a certain forum member attacked the concept of zero commission trading. I believe one example was that although such platforms don't charge upfront fees, they may not give you the best price for your buys/sells and so in that way generate income (commission). A bit like 0% foreign currency exchange. That's not to say Etoro is more expensive than traditional platforms, several factors eg. trade frequency, trade size, would affect the calculation - but it would be optimistic to think of Etoro as the same as a charging platform minus all the fees. I personally use IG.com and Degiro.com. IG for my ISA and US trades, Degiro for UK trades. I can't say for sure if this is the absolute cheapest or best approach, but I'm comfortable with the setup.
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IFISAcava
Member of DD Central
Posts: 3,664
Likes: 2,988
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Post by IFISAcava on Sept 30, 2020 13:41:09 GMT
I believe one example was that although such platforms don't charge upfront fees, they may not give you the best price for your buys/sells and so in that way generate income (commission). A bit like 0% foreign currency exchange. That's not to say Etoro is more expensive than traditional platforms, several factors eg. trade frequency, trade size, would affect the calculation - but it would be optimistic to think of Etoro as the same as a charging platform minus all the fees.
I'm not going to repeat myself, the above paragraph from @kor_Wraith summarises my position.
Read the small print of these so-called zero-commission brokers. Read the articles in respectable publications about these so-called zero-commission brokers.
There's no such thing as a free lunch.
Who's paying for the IT infrastructure ? YOU ARE* Who's paying for the staff ? YOU ARE* Who's paying the regulatory fees ? YOU ARE* Who's paying the exchange fees ? YOU ARE* etc. etc. ad-infinitum
I favour transparency. Its better to pony-up with a broker where the commission charges are up front, rather than live in the rose-tinted spectacle world of "commission-free" where god knows how much I'm paying, let alone other considerations such as quality of execution.
*directly, if you sign up to their premium offerings, CFDs, etc. but indirectly if you don't - eg by increased counterparty and other platform risk (and possibly by increased spreads, though for normal trading sums spreads seem the same as larger brokers - indeed, T212 seems to use IB for trades). To some extent there should be some FSCS protection. Many many companies use loss leaders or below cost incentives to start using the services (I give you banks and "free" current accounts, cashback offers etc) - I would see these offerings like this. If you are careful you won't pay the fees, others who use the fee paying services will pay for you. I would also suggest that if you over did it and eg tried to use it for day trading, you'd be stopped (T&C small print). And fees may be introduced over time. Caveat emptor. I am happy to use for a small proportion of my funds, for the smaller investments/frequent trading. I wouldn't use for larger amounts, and I wouldn't go over the FSCS limits.
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Etoro
Sept 30, 2020 19:57:35 GMT
Post by martin44 on Sept 30, 2020 19:57:35 GMT
I believe one example was that although such platforms don't charge upfront fees, they may not give you the best price for your buys/sells and so in that way generate income (commission). A bit like 0% foreign currency exchange. That's not to say Etoro is more expensive than traditional platforms, several factors eg. trade frequency, trade size, would affect the calculation - but it would be optimistic to think of Etoro as the same as a charging platform minus all the fees.
I'm not going to repeat myself, the above paragraph from @kor_Wraith summarises my position.
Read the small print of these so-called zero-commission brokers. Read the articles in respectable publications about these so-called zero-commission brokers.
There's no such thing as a free lunch.
Who's paying for the IT infrastructure ? YOU ARE Who's paying for the staff ? YOU ARE Who's paying the regulatory fees ? YOU ARE Who's paying the exchange fees ? YOU ARE etc. etc. ad-infinitum
I favour transparency. Its better to pony-up with a broker where the commission charges are up front, rather than live in the rose-tinted spectacle world of "commission-free" where god knows how much I'm paying, let alone other considerations such as quality of execution.
You see the contradiction..
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Etoro
Sept 30, 2020 20:13:28 GMT
Post by martin44 on Sept 30, 2020 20:13:28 GMT
I'm not going to repeat myself, the above paragraph from @kor_Wraith summarises my position.
Read the small print of these so-called zero-commission brokers. Read the articles in respectable publications about these so-called zero-commission brokers.
There's no such thing as a free lunch.
Who's paying for the IT infrastructure ? YOU ARE* Who's paying for the staff ? YOU ARE* Who's paying the regulatory fees ? YOU ARE* Who's paying the exchange fees ? YOU ARE* etc. etc. ad-infinitum
I favour transparency. Its better to pony-up with a broker where the commission charges are up front, rather than live in the rose-tinted spectacle world of "commission-free" where god knows how much I'm paying, let alone other considerations such as quality of execution.
*directly, if you sign up to their premium offerings, CFDs, etc. but indirectly if you don't - eg by increased counterparty and other platform risk (and possibly by increased spreads, though for normal trading sums spreads seem the same as larger brokers - indeed, T212 seems to use IB for trades). To some extent there should be some FSCS protection. Many many companies use loss leaders or below cost incentives to start using the services (I give you banks and "free" current accounts, cashback offers etc) - I would see these offerings like this. If you are careful you won't pay the fees, others who use the fee paying services will pay for you. I would also suggest that if you over did it and eg tried to use it for day trading, you'd be stopped (T&C small print). And fees may be introduced over time. Caveat emptor. I am happy to use for a small proportion of my funds, for the smaller investments/frequent trading. I wouldn't use for larger amounts, and I wouldn't go over the FSCS limits. I would broadly agree, as far as FSCS protection is concerned, being a cypriot entity that is not going to exist, but i agree i wish it did, direct investment is also based on a tier basis, the higher up the tier you go (based on the amount of your investment) the lower the fees, ie spreads, exchange rate pips and withdrawal fees, which TBH at 5 dollars max is reasonable, used correctly, etoro is as competitive as any other out there, and better than a lot. edit.. bold.. that's not the case from my experience, day trading is prolific, i've done it myself... and there are no restrictions as far as i know.
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IFISAcava
Member of DD Central
Posts: 3,664
Likes: 2,988
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Post by IFISAcava on Sept 30, 2020 21:59:08 GMT
*directly, if you sign up to their premium offerings, CFDs, etc. but indirectly if you don't - eg by increased counterparty and other platform risk (and possibly by increased spreads, though for normal trading sums spreads seem the same as larger brokers - indeed, T212 seems to use IB for trades). To some extent there should be some FSCS protection. Many many companies use loss leaders or below cost incentives to start using the services (I give you banks and "free" current accounts, cashback offers etc) - I would see these offerings like this. If you are careful you won't pay the fees, others who use the fee paying services will pay for you. I would also suggest that if you over did it and eg tried to use it for day trading, you'd be stopped (T&C small print). And fees may be introduced over time. Caveat emptor. I am happy to use for a small proportion of my funds, for the smaller investments/frequent trading. I wouldn't use for larger amounts, and I wouldn't go over the FSCS limits. I would broadly agree, as far as FSCS protection is concerned, being a cypriot entity that is not going to exist, but i agree i wish it did, direct investment is also based on a tier basis, the higher up the tier you go (based on the amount of your investment) the lower the fees, ie spreads, exchange rate pips and withdrawal fees, which TBH at 5 dollars max is reasonable, used correctly, etoro is as competitive as any other out there, and better than a lot. edit.. bold.. that's not the case from my experience, day trading is prolific, i've done it myself... and there are no restrictions as far as i know. FWIW (and it may be worth less than one would hope if it came to it), FreeTrade and T212 have FSCS protection, and IB (not quite offering commission-free trading in the UK, but since it has started in the US would seem it may well do at some point) has the US protection (which may be more generous I have read).
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Etoro
Oct 5, 2020 20:16:25 GMT
Post by martin44 on Oct 5, 2020 20:16:25 GMT
You see the contradiction..
Stop being smug, shut up and read the Etoro small print.
Out of pure curiosity, I spent a few minutes reading a few parts of it.
It raises more questions than it answers. Facts always seem lacking in your silly responses.
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