Has anyone got any experience of using EToro I noticed it is a club sponsor.

Was debating starting to invest in stocks but haven’t really got any experience

Lowbankclaret is the man.

I started using Freetrade a few months ago which has a good app and is easy to use - have no idea how similar it is to Etoro though

EToro looks pretty easy to use.

Do you have any advice for investing?

None at all!

I’ve only put a few hundred quid in there but stuck to areas I’m familiar with - mainly the renewables sector.
But they’re just punts based on no financial knowledge!

One thing I can’t work out is, they say there’s no commission on trades. If this is correct, how do etoro make their money?
I currently trade with Halifax who charge commission!

Bigvince wrote: ↑

Thu Jan 07, 2021 7:05 pm

One thing I can’t work out is, they say there’s no commission on trades. If this is correct, how do etoro make their money?
I currently trade with Halifax who charge commission!

Wide spreads, they make their money on the bid-offer being wider than other platforms, according to the Sunday Times. ST did a feature on etoro very recently. They also reward some "influencers" and suggest that others copy their trades - the more people copying the bigger the commission to the influencers. The ST reported on a 20 year old who's building up his following - though it also sounded as though his parents had plenty of money...

I'm put a "go into this with your eyes wide open" style of caution.

Be thoughtful.

They sell some products, it’s in their interest to attract millions of users. Some will use fee paying products

Ask Glen Little

These apps are handy for smaller investors who aren't pushed into bigger than ideal stakes by the level of commission at the likes of Halifax etc.

Their money is mainly made via the sleeping capital that's left unspent in the accounts... As well as a few bob they make on premium accounts. Democratic stuff though for small-time punters.
Main drawback is that they don't cover all the shares you might want to trade... Eg, you can forget Rolls Royce trading with Freetrade.

Paul Waine wrote: ↑

Thu Jan 07, 2021 7:20 pm

Wide spreads, they make their money on the bid-offer being wider than other platforms, according to the Sunday Times. ST did a feature on etoro very recently. They also reward some "influencers" and suggest that others copy their trades - the more people copying the bigger the commission to the influencers. The ST reported on a 20 year old who's building up his following - though it also sounded as though his parents had plenty of money...

I'm put a "go into this with your eyes wide open" style of caution.

Be thoughtful.

Thanks Paul for the info, so basically your paying for dealing with the wide spread instead of commission. Think I’ll stick with Halifax