It's not the typical spread in stocks and cfd. Eg. if market price is 105 (to buy), etoro charges u USD105*1.0009 = USD105.09 (0.09 higher than what you can get from other platform the same time). And of course - what you seen in the etoro webpage or app reflect USD105.09 (so u will never know what's the market price unless you compare side by side with other platform).

I think this bro summarises the spread fee well for Etoro, refer "spread fee" section.

https://punchsalad.com/investing/etoro-fees/

How would you not consider "larger than usual" spread as "commission"? Substance over form weh.

This post has been edited by z21j: Jun 17 2020, 02:23 PM

I know what is a spread fee lah bro...

btw...the website you link me to says... "Since late 2019, eToro doesn’t have spread fees anymore, however, this only applies when you are buying unleveraged stocks.

so etoro is not misleading people lah like you were thinking...

It was. Shouldnt be saying "zero" when it's actually not, and yet.. many still think that really zero commission since day 1, which is funny.

I think maybe is you that misunderstood...lol

anyways, I no interest in etoro... ciao...

Perhap I misunderstood because I totally not familiar with how etoro works. See pic below, that I just traded purely to illustrate where am i coming from.
Market price was 1443.43 (but when you buy, you will buy at 1445.43 even if it is x1 unleveraged). Whereas in other platform, i can get google share at 1443.43 (market price - that's the typically willing buyer/seller transaction in traditional trading market).

So the diff of 1445.43 - 1443.43 = 2 bucks (if they are not so call indirect "commission" then what do you call it as)? For discussion purpose cause I really dont know.

Etoro to me sound like "spread trading" like forex (which is perfectly fine for me cause I play forex too) but I really have big question why it says zero commission. If etoro "modifies" the traditional equity trading into this model, they can go out and say zero commission but perhaps not many know they are actually buying "slightly higher" than other platform if execute the same timing. People might just thought the market is volatile but it's actually not.



This post has been edited by z21j: Jun 17 2020, 11:17 PM

I don't know what's the fuss about in the spread as really it's negligible.
Don't be the case of penny wise pound foolish.

The spread tends to go higher as share price rises.
This same mechanism is similar even in KLSE.

This post has been edited by Icehart: Jun 18 2020, 12:28 AM

The currency conversion bullshit is negated for pretty much every single online or overseas retail transaction anyway if you use Bigpay. Anyone who uses a wire transfer when there are free debit/credit card alternatives is frankly a moron anyway. Everything else I've already talked about in my previous points. I'm not going to talk about their marketing bullshit or whatever. Let me just state that there are fees built up front and at the back (when closing positions) built into the prices. The fees are negligible and make it affordable for smaller traders to get some action. You're nitpicking over a decimal point and pretty much a rounding error in terms of fees. There are better brokers out there obviously if you care about the spread.

what it tells me is only this... current price or last done price is 1443.43... the current asking price is 1445.43... the bidding price is 1442.13... to me nothing wrong or unusual... willingly buyer /seller

I can only guess that the buy and sell button is for easy quick market buy and sell... but there "should" be a limit order somewhere you can enter your own price... a lot of platforms are like this... also I cannot imagine a platform without ability to enter limit orders...

to further check...if I take the mid price ± 0.09%... I don't get the bid/ask prices... if I take the current price and do the same... doesn't come back either

you should look at the level 2 DOM...should be quite evident if etoro is doing price spreading...where the spread is always constant or has a minimum gap beyond the min price for the instrument

btw... goog closed at 1451.12.... with a bid/ask spread of $6.79 that is much bigger than your example

This post has been edited by dwRK: Jun 18 2020, 07:51 PM

There is a limit order in the eToro platform. Instead of the market order, you can choose limit order.

I'm sure... was waiting for our bro's reply... I think he needs to learn more about the platform and what the info means... he did say he's not totally familiar so I'm happy to help...

0.09% fee is actually quite reasonable also...some platform charges more...but their crypto fee is too much

Let me give you an example of the shady stuff going on. My other recent posts detail how Wirecard is going through some fraud allegations which is tanking the stock price, through which I made quite a bit of money shorting it earlier.



Now let's go to the trading options. Suddenly, you can't short-sell the stock for whatever reason. Been that way for hours. I googled around, couldn't find any confirmation that the German stock market stopped short-selling like they did in the past so it's probably not that. They don't have a website for this so I can't look it up myself. Then I went to another platform, Trading 212. Still works there, I can short Wirecard with my demo account with the current market. So whatever is happening is on Etoro's side. This is not the first time either. They've done this shady shit multiple times in the past months alone that I've noticed. In some cases it's a legit trade stop that I've confirmed with the NYSE website and Etoro is just a slow little shit like always in opening trades back up. Other times there's just no explanation for why shorting or buying is arbitrarily turned off.

looks like trading against their dealing desk... most likely liquidity crunch and they gave up and stop so they don't lose more money to you...lol

shit happens when losers can't balance out winners... sometimes you get deleveraged and closed out even when winning... happens on other cfd platforms too

Not disputing whether 0.09% is reasonable or not. It's also not whether I familiar with the platform or not. I just totally cannot understand why is it ZERO commission (they can say thing like no FURTHER commission, but it may not be true that they represented zero comm?).

Like pricing on catalogue, RM1.06 (NO GST) vs RM1.00 (6% GST applies) = we can imply that both have actually GST. But there is only 1 market price (being the last done price) at given any point in time.

Based on whatever feedback I received, can i understand that this 0.09% is actually their commission (rather than saying ZERO commission)? That's the root question. If yes, then close case. But obviously there are also great things in the platform, like their financial analysis, which is quite comprehensive compared to other platform that I've been using.

This post has been edited by z21j: Jun 20 2020, 03:31 PM

iceheart mentioned that etoro's spread is negligible in earlier post... I reply that it's reasonable for stocks n etf, but etoro's fee for crypto is too much... it wasn't a reply directed at you

your case is thinking etoro is misleading and hiding a 0.09% fee somewhere in the spread whilst advertising zero fees... you look at the bid/ask/last done prices and see the spread is big and say aha...guilty!... I don't think they are but I also don't trade here so can't say for sure...if it goes through a dealing desk, the prices you see may likely be different from the exchange which could add to confusion

all the major brokers in the U.S. have moved to a zero commission model for U.S. stocks and etf... so etoro doing the same is no surprise

afaik... etoro has 2 "sections" ... "etoro stocks" and "etoro cfd"... if you trade stocks on "etoro stocks" which is not leveraged, it's zero commission... if you trade stocks on "etoro cfd" you pay 0.09% fee.

someone here said zero fee is applicable to etoro UK accounts only. if you open account here, it defaults to etoro Australia and cfd trading... however on etoro site... "Zero-commission means that no broker fee will be charged when opening or closing the position and does not apply to short or leveraged positions. Other fees may apply. Your capital is at risk. For clients of eToro AUS Capital Pty Ltd. AFSL 491139, only stocks traded on US stock exchanges are available to trade with no commission. Other stocks are offered as derivatives and bear commission." ...

you should have a detailed account page that will show all your trades and fees paid for each. anyways...you choose to believe they are cheating is fine by me too i'm not here to defend them...

This post has been edited by dwRK: Jun 20 2020, 10:21 PM

Hello All

Has anyone tried to deposit funds using a credit card issued in Malaysia? Were you charged any cash advance fees by the banks? Do you receive any credit card Reward Points?

Thank you

Probably. Just annoying when on any given day half a dozen companies on my watchlist have short-selling blacked out. So many missed opportunities to rake in the cash. Holding long isn't really earning me as much money as my short term yolos. I had to sell all my green positions when the market started trending downwards to lock in my gains. I'm optimistically expecting another crash so I'm holding cash in reserve. The USD has been depreciating lately against the MYR thanks to all the money printing.

Usually these online brokers tend to have multiple fees and I guess they just removed the broker ones and tried to market that off as no fees. But anyway, it's the easiest to use by far and everything is presented nicely. They have all these free analysis and shit that I can refer to for all the stocks pulled from financial analysts with direct links in case I want to study in depth. I still pening wondering how the fuck Trading 212 works with their trades and interface.

I don't mind the spread tbh if it means I don't have to pay a flat fee per trade opened. I registered in 2012-ish with the Cyprus account since that was all they had but I think they moved me over to AUS while I wasn't active. Wonder if it's too late to swap over

No idea I use Bigpay. You can still deposit RM2,500 into BP via credit card and use that to invest monthly without incurring cash advance charges. Etoro deposits gives Bigpoints as far as I can tell which is nice

This post has been edited by red streak: Jun 20 2020, 11:53 PM

Withdrawal fee is only 5 USD now? this is pretty sweet, back at early of the year, or maybe end of last year, it was still 25 USD.

If you have family member in the US sending you money, and you wish to use this money to fund your eToro account, what will be the best way to do it?

eToro does not allow 3rd party deposit so I cannot allow them to transfer the money to my account directly.

I can go the usual route of asking them to transfer to my local bank, then only use my local bank to fund my eToro as what I've been doing, but this will incur 2x currency conversion which I'm hoping to avoid.

Anyone has better way on how to go about this?

hmmm, may I suggest Bitcoin? if done right, the fees would be for like less than Rm10 or even as low as RM5. I got a lot of colleagues from India, they told me they always send money back via cryptocurrency to avoid fees, but I am not exactly sure how they do it.

no advance fee when i used Maybank Visa Infinite.

In fact i get rewarded with x5 TPs using it as it is classified as Overseas spend.