We get htis a lot on our site the answer to Answers To Etoro Quiz….Concerns that i hear from brand-new financiers what if you’re brand new to investing you simply don’t want to decide what you actually want to invest and you want somebody to do it for you there’s just a couple of ways that that can occur the firstly you can work with a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is of course you can buy mutual funds specific funds are produced once again with an account supervisor in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios as well now if you’re brand new to a total please keep in mind this platform is quite advanced you can do cfds which of course cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you in fact get utilized to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually stated they’ve made profit 14 months in a row purchase these choices because you believe is the best ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
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well-known for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really state i want to do exactly what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they offer whatever they do your cash will be imitated with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved really important you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no cost websites then might not charge you for really buying and selling funds or etfs private commodities specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs truly important to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling fine so commission costs are complimentary nevertheless there are a number of other charges the very first one is withdrawal costs so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state all right that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those choices that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends completely how you’re investing however that is a cost to bear in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and two free trade anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state offer me us dollars instead you need to pay their costs now the excellent feature of though when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent using that part of their website won’t definitely limit you in any way nevertheless we need to know 2 other fees the very first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you
on is basically the distinction that becomes part of the investment platform between the buy price and the price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that in fact implies that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing rate of tesla is the worth of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of make money from you every time you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to offer so they’re going to offer you less back with your sale and you state alright well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to sell it and that is how they make a bit of cash on those spread costs it’s generally exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit money now the last task is called an
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overnight cost now this is actually important if you’re really utilizing cfds yourself also an overnight cost is when you’re not doing that buy offer deal in the exact same day okay there’s then an overnight cost charged and even if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which implies you’re in fact buying the exact possession instead of utilizing take advantage of anyway you will not get hit with these charges however these costs are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you go into the aid section this isn’t the overnight charges details you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which only applies as i said to cfds there are some surcharges obviously depending on what you are purchasing as well this is on your own so keep that in mind but complete costs are entirely within their assistance details fine and we discussed along with totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of actually using these copy operates they don’t have any additional charges on top of the typical costs that
are there now what you require to bear in mind though is these possibly managed by other people entirely or sometimes have developed portfolios you have actually got a genuine person doing the management you need to ensure you choose the individual that’s right for you just like any type of work this is your monetary properties so we definitely require to ensure it’s the best person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of various alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own money but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine money maybe this is a terrific choice for you once again to evaluate the theories fine you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to type of safe have fun with it certainly you might have lost out on gains and losses during that time of course if you had actually invested your real money it permits you to develop self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i imply by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk simply implies am i fine with possibly losing a great amount of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will make money you’ll lose money that’s why they make the figure 75 people will lose cash but that equally indicates they’ll lose at some time in their journey clearly people do make money as well and i have actually got videos everything about how you can ensure you’re one of individuals to actually generate income however in this situation make certain you research your threat level would you be okay giving your money to somebody else which is effectively what you’re doing and trusting them make certain you understand what they’re investing in fully if you’re somebody who isn’t wanting to be that dangerous do not choose somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold and even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually use this too truly quickly over here you can copy people now it will provide you a great deal of options and you can use the system to really search for somebody that you fancy really following so let’s see possibly we desire somebody from united kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can find everybody who has fulfilled that criteria and it does provide you a danger element too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of individuals that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to confirm are you alright with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine really that i invest in too which is good so in fact for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s also got a bit more um of the sort of main food business and you have actually got you know pharmaceutical and production business as that. Answers To Etoro Quiz.
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