We get htis a lot on our site the answer to Does Etoro Have Custodial Accounts….Questions 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 want someone to do it for you there’s just a couple of manner ins which that can occur the first off you can employ a financial investment portfolio manager they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds particular funds are created once 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 bear in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods 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 don’t just assume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you really get utilized to the structure of the website and then 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 companies if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually stated they’ve made profit 14 months in a row invest in these choices since you believe is the best ones for you which being said let’s dive directly in [Music] so the important 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 probably.
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well-known for it’s the option to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really say i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that implies 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 also cover is the costs included truly crucial you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 no charge sites then might not charge you for actually buying and selling funds or etfs individual products private stocks.
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there’ll be fees on other parts possibly 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 show you the charges with in particular in this video the next would be things to know before you actually begin purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees actually essential to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling fine so commission fees are complimentary nevertheless there are a couple of other charges the first one is withdrawal fees 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 instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum quantity 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 ensure that i’m just withdrawing when i definitely require to now you might say fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those alternatives that they have a great deal of platforms obviously are complimentary 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 as soon as every six months you know depends totally how you’re investing however that is a cost to bear in mind the second cost that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of need 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 providing 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 charges now the fantastic aspect of though when you’ve transformed your money you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good using that part of their site won’t certainly restrict you in any way however we have to understand two other charges the first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread fee as i’m going to show you
on is essentially the difference that becomes part of the financial investment platform in between the buy cost 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 site today tesla’s dollar worth 599 per share in tesla that actually suggests that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that again so the present rate of tesla is the worth of a share what’s called spread fees is the distinction then in fact to purchase 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 whenever you do a buyer’s share so keep that in mind obviously 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 okay well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to offer it and that is how they make a bit of money on those spread out charges it’s generally extremely small 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 cash now the last accomplishment is called an
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overnight cost now this is truly important if you’re actually utilizing cfds yourself as well an over night cost is when you’re refraining from doing that buy sell transaction in the same day all right there’s then an over night charge charged or perhaps 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 take advantage of which means you’re actually purchasing the precise property rather than using take advantage of anyhow you won’t get hit with these costs but these charges are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy offering in the very same day so let’s state if you go into the assistance section this isn’t the over night fees 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 and that only applies as i said to cfds there are some surcharges of course depending upon what you are investing in as well this is on your own so keep that in mind but full costs are entirely within their help info alright and we talked about as well as 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 everything there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of really using these copy operates they do not have any additional charges on top of the regular costs that
exist now what you need to bear in mind though is these possibly handled by other people totally or sometimes have actually created portfolios you’ve got a real individual doing the management you need to make sure you select the individual that’s right for you just like any line of work this is your financial properties so we definitely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of different options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual methods i believe 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 information or anything you can basically have this virtual portfolio imitate 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 comfortable with utilizing your real cash perhaps this is a great choice for you again to check the theories alright you may wish to purchase tesla or apple or this etf why not use the virtual choice as a method to kind of safe have fun with it undoubtedly you may have missed out on gains and losses during that time obviously if you had invested your real money it allows you to build confidence understand the platform so that’s one alternative 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 pick someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i indicate 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 means am i alright with potentially losing a good quantity of this financial investment or getting as
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well now remember everything is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose money however that equally indicates they’ll lose at some time in their journey obviously people do generate income as well and i’ve got videos everything about how you can make certain you’re one of individuals to really make money however in this scenario ensure you research study your danger level would you be all right providing your money to someone else which is successfully what you’re doing and trusting them ensure you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that dangerous do not select someone who’s totally into crypto or currency conversion consider it you ‘d probably desire a foundation of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you might 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 actually use this too really quickly over here you can copy individuals now it will give you a great deal of options and you can use the system to really search for someone that you elegant in fact following so let’s see maybe we want 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 criteria and it does give you a danger aspect too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to ensure 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 method to really deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she really purchasing 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 excellent 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 purchase too which is great 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 seems to be what she prefers she’s likewise got a bit more um of the type of primary food business and you have actually got you know pharmaceutical and production companies as that. Does Etoro Have Custodial Accounts.
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