We get htis a lot on our site the answer to Do You Have To Give Social Security Number On Etoro….Questions that i speak with new investors what if you’re brand new to investing you just do not want to choose what you actually wish to invest and you want somebody to do it for you there’s only a couple of ways that that can happen the first off you can employ a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that possibly one or two percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are produced 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 remember this platform is quite innovative you can do cfds which naturally cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform do not just presume since i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option too so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something since that person has said they have actually made earnings 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
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famous for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of options and basically whenever they make a trade they buy they offer whatever they do your money 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 money in so we’re going to also cover is the charges involved actually crucial you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge websites then might not charge you for actually buying and selling etfs or funds private commodities individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you actually begin investing in copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with fees really crucial to understand these now on there’s a number of fees there isn’t charges to do with actually buying and selling fine so commission fees are free however there are a couple of other costs the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk cash.
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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 offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just among those choices that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you understand depends entirely how you’re investing but that is a fee to remember the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact giving you in regards to 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 give me us dollars instead you have to pay their costs now the excellent feature of though when you’ve converted your money you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s really great utilizing that part of their website won’t definitely limit you in any way however we have to know 2 other charges the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread fee as i’m going to show you
on is essentially the difference that becomes part of the investment platform in between the buy rate and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that actually implies that when you wish to purchase or offer as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing cost of tesla is the worth of a share what’s called spread fees 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 benefit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to offer so they’re going to provide you less back with your sale and you state fine 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 want to offer it which is how they make a bit of money on those spread out costs it’s typically exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit money now the last task is called an
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over night fee now this is truly essential if you’re actually using cfds yourself also an over night fee is when you’re not doing that buy sell deal in the very same day alright there’s then an overnight fee charged or even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one take advantage of which indicates you’re in fact purchasing the precise possession instead of using leverage anyway you won’t get hit with these fees however these charges are if you’re using take advantage of and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you go into the assistance section this isn’t the over night charges info you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night 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 purchasing also this is on your own so keep that in mind however complete fees are entirely within their aid information alright and we discussed along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of actually utilizing these copy functions they do not have any extra fees on top of the regular costs that
exist now what you require to keep in mind though is these possibly managed by other individuals completely or sometimes have produced portfolios you have actually got a genuine individual doing the management you have to make sure you select the individual that’s right for you similar to any line of work this is your financial properties so we absolutely need to ensure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various options for us first of all 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 means i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are using your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is a great alternative for you once again to check the theories okay you might want to buy tesla or apple or this etf why not use the virtual choice as a method to kind of safe play with it certainly you might have missed out on gains and losses throughout that time obviously if you had invested your real money it enables you to construct self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to keep in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i mean by that obviously 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 all right with possibly losing an excellent amount of this financial investment or gaining as
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well now remember everything is downs and ups you will earn money you’ll lose money that’s why they make the figure 75 people will lose cash but that equally suggests they’ll lose at some point in their journey obviously people do earn money as well and i’ve got videos everything about how you can make certain you are among individuals to actually make money however in this situation make sure you research study your danger level would you be all right offering your cash to another person which is successfully what you’re doing and trusting them make certain you comprehend what they’re purchasing totally if you’re somebody who isn’t wanting to be that risky don’t choose somebody who’s totally 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 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 really use this too really quickly over here you can copy individuals now it will give you a lot of options and you can use the system to actually search for someone that you fancy actually following so let’s see perhaps we desire someone from unified kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a good amount and i can find everyone who has actually fulfilled that criteria and it does provide you a threat aspect also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of people that have quite high returns
remember it resembles anything to do with the news or forecasts of the future this does not mean somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to confirm are you alright with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she really buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is excellent so in fact for me understanding what i like to invest in 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 chooses she’s likewise got a little bit more um of the type of primary food business and you’ve got you understand pharmaceutical and production business as that. Do You Have To Give Social Security Number On Etoro.
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