We get htis a lot on our site the answer to Can I Use American Express For Etoro App….Questions that i hear from brand-new investors what if you’re brand new to investing you just do not wish to decide what you actually want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can happen the firstly you can work with a financial investment portfolio manager they’ll generally charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is naturally you can purchase mutual funds particular funds are developed again with an account manager in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios too now if you’re brand new to a total please keep in mind this platform is quite sophisticated you can do cfds which naturally cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning more about please do study the platform do not just assume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you in fact get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying real business if you select to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something because that person has actually stated they have actually made earnings 14 months in a row purchase these choices because you believe is the right ones for you which being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
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famous for it’s the option to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included really important you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero charge sites then may not charge you for actually buying and selling funds or etfs private products specific stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you actually start buying copy trading or copy portfolios and finally some best advice finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with costs really essential to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling okay so commission fees are totally free nevertheless there are a couple of other costs the first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk money.
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and it’s instantly 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 sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends entirely how you’re investing but that is a charge to keep in mind the second cost that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really offering 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 say offer me us dollars rather you have to pay their fees now the fantastic feature of though when you have actually converted your cash you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their site won’t certainly limit you in any way nevertheless we need to understand 2 other costs the first being what’s called spread charges okay and i’m going to reveal you what i mean on now a spread fee as i’m going to show you
on is generally the distinction that belongs to the investment platform in between the buy rate and the price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that really means that when you want to purchase or sell as you can see it’s not the price you’re seeing up here let me reveal you that again so the present price of tesla is the value of a share what’s called spread charges is the distinction then really to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you say all right well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to offer it and that is how they make a bit of money on those spread fees it’s typically exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit cash now the last task is called an
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over night charge now this is really important if you’re really utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy offer transaction in the same day all right there’s then an overnight fee charged or even if you go from the friday to the monday prior to cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one leverage which means you’re in fact buying the specific property instead of utilizing utilize anyhow you will not get hit with these costs but these fees are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy offering in the same day so let’s say if you go into the help section this isn’t the over night costs information you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some service charges of course depending upon what you are purchasing also this is on your own so keep that in mind but full charges are completely within their aid details all right and we discussed in addition to totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of actually utilizing these copy works they don’t have any extra costs on top of the typical costs that
are there now what you need to remember though is these potentially managed by other people completely or often have actually developed portfolios you have actually got a genuine individual doing the management you need to ensure you select the person that’s right for you similar to any kind of work this is your monetary properties so we definitely require to ensure it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of different options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your credit card details or anything you can basically have this virtual portfolio simulate as if you are utilizing your own money but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money possibly this is a fantastic choice for you again to evaluate the theories fine you might wish to purchase tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it undoubtedly you might have missed out on gains and losses during that time of course if you had actually invested your real money it allows you to construct confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy people 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 make sure you understand what your danger profile is now what do i indicate by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk simply suggests am i okay with potentially losing a great quantity of this financial investment or getting as
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well now remember everything is ups and downs you will earn money you’ll lose money that’s why they make the statistic 75 people will lose cash but that equally indicates they’ll lose at some point in their journey obviously individuals do make money too and i’ve got videos everything about how you can make sure you’re one of individuals to in fact generate income but in this situation make certain you research your risk level would you be okay giving your money to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re buying totally if you’re somebody who isn’t wishing to be that risky do not select somebody who’s completely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can in fact use this too truly quickly over here you can copy people now it will offer you a lot of choices and you can utilize the system to actually search for someone that you elegant really following so let’s see maybe we desire somebody from joined kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a great amount and i can discover everybody who has actually fulfilled that criteria and it does offer you a danger aspect too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have quite high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to confirm are you all right with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she actually purchasing so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to know ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine in fact that i buy too which is good so really for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s also got a bit more um of the kind of primary food companies and you have actually got you know pharmaceutical and production companies as that. Can I Use American Express For Etoro App.
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