Discussion in 'Retail Brokers' started by Nobert, Apr 18, 2019.
those that are not partly or fully regulated by an EU countries regulator like the FCA or CYSEC.
So an Aus broker only regulated by ASIC for example.
Registered within Etoro.
Available only for EU citizens (and some countries in little Asia region).
Min funding account requirement - $200. ,,Good''.
No commissions. Good.
Withdrawal fee $25. Ouch.
No short sales available. Ouch.
They have this copy-trader feature, where, if one chooses to keep his account public
( by default it is,unless thou decides to make it private ) ,
other users, ordinary folks, can track your trades & kinda copy-paste those within their portfolios.
So what's the benefit for you - you might ask ?
Lets say you get followed by 100 of such copy - trade users. And the total amount of their capital is $100 000.
You get paid a ,,management'' fee of 2% per annum, so $2 000 - goes to you...
3 days period for them to confirm my account.
Il give a shot there &... Wish me luck !
Shorts is a must, cuz of exposure etc, so in future i will try Saxo Bank as well.
First real trade, long position, eToro platform :
Might change them into Plus500, there they have no withdrawal fees, while eToro has $25.
(not that im going to withdraw often, more likely bring in new capital)
No. That is not the case at Interactive Brokers or Saxo. They hedge the position by opening a similar position in the underlying.
What kind of a fool/idiot games are we playing here ?
(im talking in general about CFD's, not straight to you @Maverick2608)
Why CFD's are B-A-N-N-E-D in US ?
What is the intention of the broker ?
Which outcome will benefit broker the most :
A} you making money all the time by holding CFD's positions and broker pays you his money ?
B} you loosing as much as you can and broker takes your money ?
And what do they do,
when correlation with underlying turns against them, don't they have a right to close/liquidate the position ?
Why do they have that option, because things like that happen, and then who suffers ?
Ofcourse, not the broker - but retailer - that's right, what kind of surprise that was.
There are more fees , when you own CFDs instead of shares of your own, when holding over the night or weekends especially.
Then you got stories, where someone made nice profits, from a huge position, and by the end of the month, they receive some weird unseen huge-fees.
(what reading between the lines says , your earned too much of our money )
It's a trash derivative/financial product and every new person should avoid it.
Separate names with a comma.