We get htis a lot on our site the answer to Does Etoro Ask For Social Security Number….Concerns that i hear from new investors what if you’re brand new to investing you simply do not wish to decide what you actually want to invest and you desire someone to do it for you there’s only a couple of ways that that can happen the firstly you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is of course you can buy 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 as well 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 really having the total of capital so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying real business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something because that person has actually stated they have actually made profit 14 months in a row invest in these options because you believe is the right 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’s part of social trading which is one aspect that is most likely.
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well-known for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that implies 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 charges involved truly important you comprehend 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 buying the selling for you there’s going to be charges included and even a few of the no cost sites then may not charge you for actually buying and selling etfs or funds private products 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 charges 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 prior to you actually begin buying copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with costs really crucial to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling okay so commission fees are totally free nevertheless there are a couple of other costs the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those options that they have a great deal of platforms undoubtedly are totally free 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 six months you know depends completely how you’re investing however that is a charge to keep in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’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 purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee 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 charges now the great thing about though when you have actually converted your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 costs so that’s actually excellent using that part of their site will not definitely restrict you in any way nevertheless we need to know 2 other fees the first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is essentially the distinction that is part of the investment platform between the buy price 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 value 599 per share in tesla that actually indicates that when you want to purchase or offer as you can see it’s not the price you’re seeing up here let me show you that again so the present price of tesla is the value of a share what’s called spread fees is the distinction then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of profit from you every time you do a purchaser’s share so keep that in mind obviously it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you say fine well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread out charges it’s usually incredibly small it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit cash now the last feat is called an
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overnight cost now this is actually important if you’re actually utilizing cfds yourself too an overnight cost is when you’re not doing that buy sell transaction in the very same day fine 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 only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one leverage which suggests you’re actually purchasing the precise possession rather than utilizing leverage anyhow you will not get hit with these costs however these fees are if you’re using take advantage of and cfds and then you’re going to have these fees if you’re not buy selling in the very same day so let’s state if you enter into the help area this isn’t the overnight charges information 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 uses as i stated to cfds there are some surcharges naturally depending on what you are purchasing also this is on your own so keep that in mind but full fees are entirely within their aid info fine and we talked about in addition to totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually utilizing these copy operates they do not have any additional fees on top of the regular charges that
exist now what you require to remember though is these possibly managed by other individuals totally or sometimes have actually developed portfolios you’ve got a real individual doing the management you need to make certain you select the person that’s right for you just like any kind of work this is your financial properties so we definitely require to make sure it’s the best 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 have actually got a number of different 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 alternative to invest genuine money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun 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 generally have this virtual portfolio mimic as if you are using your own cash however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash maybe this is an excellent alternative for you once again to check the theories fine you might want to purchase tesla or apple or this etf why not use the virtual option as a way to kind of safe play with it certainly you might have missed out on gains and losses during that time obviously if you had actually invested your genuine money it permits you to construct self-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 individuals 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 make certain you understand what your threat profile is now what do i suggest by that clearly 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 means am i fine with potentially losing a good quantity of this financial investment or getting as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash but that similarly suggests they’ll lose at some time in their journey undoubtedly people do make money also and i have actually got videos everything about how you can ensure you are among individuals to really make money however in this circumstance ensure you research your threat level would you be alright giving your money to another person which is successfully what you’re doing and trusting them make certain you understand what they’re buying completely if you’re somebody who isn’t wanting to be that dangerous do not choose someone who’s totally into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually use this too truly easily over here you can copy individuals now it will offer you a lot of options and you can utilize the system to in fact look for somebody that you expensive actually following so let’s see maybe we want somebody from unified kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has actually satisfied that criteria and it does provide you a threat aspect as well 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 people that have quite high returns
remember it resembles anything to do with the news or predictions 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 chance to ensure so do keep that in mind and as simple 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 way to actually deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she in fact 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 good to know ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got some of mine actually that i purchase too which is good so actually 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 business that seems to be what she chooses she’s also got a little bit more um of the kind of main food companies and you have actually got you understand pharmaceutical and production business as that. Does Etoro Ask For Social Security Number.
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