We get htis a lot on our site the answer to Can You Close Etoro Account….Questions that i hear from new investors what if you’re brand new to investing you just don’t wish to choose what you actually want to invest and you want somebody to do it for you there’s just a number of ways that that can happen the first of all you can work with an investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course you can purchase mutual funds particular funds are created 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 as well now if you’re brand new to an overall please remember this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform don’t just assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice too so you in fact get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in genuine companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something because that person has actually stated they have actually made revenue 14 months in a row purchase these options since you think is the ideal ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
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famous for it’s the choice to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included truly critical you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no charge sites then may not charge you for in fact buying and selling funds or etfs individual products individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with charges really essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission charges are totally free nevertheless there are a number of other costs the first one is withdrawal fees so you can undoubtedly put money 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 offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you may state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends totally how you’re investing but that is a fee to keep in mind the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have i expect stuck to whatever fee 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 fee is there what are they really giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say give me us dollars instead you need to pay their costs now the excellent feature of however when you have actually converted your money you do not have to invest it right now that dollar value can being in your portfolio as cash 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 extra fees so that’s really excellent using that part of their site won’t certainly limit you in any way however we have to be aware of two other fees the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is basically the distinction that is part of the financial investment platform between the buy rate and the sale price fine 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 worth 599 per share in tesla that actually suggests that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing cost of tesla is the value of a share what’s called spread fees is the distinction then really to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to offer so they’re going to provide you less back with your sale and you state alright well why does that occur it simply does that is the nature of a great deal 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 money on those spread out costs it’s usually incredibly little it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit cash now the last feat is called an
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over night cost now this is truly crucial if you’re actually utilizing cfds yourself also an overnight charge is when you’re not doing that buy sell deal in the very same day all right there’s then an overnight charge charged and even if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which means you’re in fact buying the specific possession instead of using utilize anyway you won’t get hit with these charges however these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s state if you enter into the assistance area 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 fees then for when you’re doing over night or you’re doing over weekends and that just applies as i stated to cfds there are some additional charges of course depending upon what you are buying too this is on your own so keep that in mind but complete charges are entirely within their assistance information alright and we spoke about as well as totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of really utilizing these copy works they don’t have any extra charges on top of the normal charges that
are there now what you require to keep in mind though is these possibly managed by other people entirely or often have actually created portfolios you’ve got a real individual doing the management you have to make certain you select the individual that’s right for you much like any type of work this is your financial assets so we absolutely need to make certain it’s the best individual for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a couple of different alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your credit card details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash possibly this is an excellent alternative for you once again to test the theories alright you might wish to buy tesla or apple or this etf why not use the virtual option as a method to kind of safe play with it certainly you might have missed out on gains and losses during that time of course if you had invested your real cash it allows you to build confidence understand the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i mean by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of simply indicates am i okay with potentially losing an excellent amount of this financial investment or getting 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 statistic 75 people will lose money but that similarly indicates they’ll lose at some time in their journey undoubtedly people do make money too and i have actually got videos everything about how you can ensure you’re one of individuals to really make money however in this scenario make sure you research study your risk level would you be alright giving your cash to someone else which is effectively what you’re doing and trusting them ensure you comprehend what they’re investing in completely if you’re someone who isn’t wanting to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion think about it you ‘d probably desire a foundation of strong products
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like gold or even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact use this too actually quickly over here you can copy people now it will give you a great deal of options and you can utilize the system to actually look for someone that you expensive in fact following so let’s see perhaps we desire somebody from united kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a good amount and i can find everyone who has actually met that requirements 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 undoubtedly there are a variety of individuals that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to verify are you okay with this and off you go now another method to actually deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is good so actually for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the kind of main food companies and you’ve got you know pharmaceutical and production business as that. Can You Close Etoro Account.
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