We get htis a lot on our site the answer to Cant Find My Bank To Add Account On Etoro….Questions that i hear from new financiers what if you’re brand new to investing you just don’t wish to decide what you actually want to invest and you desire somebody to do it for you there’s just a number of ways that that can occur the first off you can work with a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is naturally you can purchase 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 also now if you’re brand new to an overall please keep in mind this platform is rather advanced you can do cfds which of course cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk 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 individuals’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not simply do something because that individual has said they’ve made profit 14 months in a row purchase these choices because you think is the ideal ones for you which being said let’s dive straight 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 aspect that is most likely.
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famous for it’s the alternative to see what other traders are doing unbelievable we don’t typically 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 say i want to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included really critical you understand what are the expenses of this now with any platform there will be some expense to certainly these are real business 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 fee websites then may not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 prior to you in fact begin purchasing copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges really crucial to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling alright so commission charges are free however there are a number of other fees the very first one is withdrawal costs so you can clearly put money in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you sell your commodities 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 of course understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those options that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you know depends totally how you’re investing however that is a cost to remember the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and two free trade anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually giving you in terms of 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 state offer me us dollars rather you have to pay their costs now the great aspect of however when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their website will not definitely restrict you in any way however we need to be aware of two other fees the first being what’s called spread charges alright and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is basically the difference that belongs to the financial investment platform between the buy rate and the sale price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that really means that when you wish to buy 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 worth of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of benefit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to provide you less back with your sale and you state okay well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it which is how they make a bit of cash 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 task is called an
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overnight cost now this is really crucial if you’re really using cfds yourself as well an over night cost is when you’re not doing that buy offer deal in the very same day alright there’s then an overnight charge charged or even if you go from the friday to the monday before cruising a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which suggests you’re really purchasing the specific asset rather than using leverage anyway you won’t get hit with these fees however these fees are if you’re using leverage and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you go into the help area this isn’t the overnight costs information you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which only uses as i said to cfds there are some additional charges obviously depending on what you are buying also this is on your own so keep that in mind but complete costs are completely within their aid details fine and we spoke about as well as totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of really utilizing these copy operates they don’t have any additional costs on top of the regular costs that
exist now what you need to remember though is these potentially managed by other individuals completely or in some cases have developed portfolios you’ve got a genuine person doing the management you need to ensure you choose the person that’s right for you similar to any type of work this is your financial properties so we absolutely need to make certain 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’ve got a couple of various choices 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 real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are using your own money but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money perhaps this is an excellent choice for you again to test the theories okay you may want to buy tesla or apple or this etf why not use the virtual alternative as a method to type of safe have fun with it clearly you might have lost out on gains and losses during that time of course if you had invested your real money it allows you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i suggest by that undoubtedly 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 just suggests am i fine with possibly losing an excellent quantity of this financial investment or acquiring as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 people will lose money but that similarly indicates they’ll lose eventually in their journey obviously people do generate income also and i’ve got videos all about how you can ensure you’re one of individuals to in fact earn money however in this situation make certain you research your threat level would you be fine providing your money to another person which is successfully what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that dangerous don’t pick somebody who’s entirely into crypto or currency conversion think of it you ‘d probably want a backbone of strong products
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like gold and even 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 state you can really utilize this too truly quickly over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to really look for somebody that you elegant in fact following so let’s see maybe we desire somebody from unified kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everyone who has actually fulfilled that requirements and it does offer you a risk element also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to validate are you all right with this and off you go now another method to actually deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she actually 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 little bit so that’s great to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine in fact that i purchase too which is excellent so in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she prefers she’s also got a little bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production companies as that. Cant Find My Bank To Add Account On Etoro.
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