We get htis a lot on our site the answer to Does Etoro Need Ssn….Questions that i speak with brand-new investors what if you’re brand new to investing you simply do not wish to choose what you actually want to invest and you want someone to do it for you there’s only a couple of ways that that can happen the first of all you can hire a financial investment portfolio manager they’ll normally 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 developed 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 too now if you’re brand new to a total please remember this platform is quite innovative you can do cfds which of course cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning more about please do study the platform do not simply presume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re talking 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 simply do something because that individual has actually said they have actually made revenue 14 months in a row purchase these options due to the fact that you believe is the right ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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popular for it’s the choice to see what other traders are doing incredible 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 implies with our money we can really state i want to do precisely what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests if for instance 10 of their financial 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 costs included really vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real business 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 really buying and selling etfs or funds individual products specific stocks.
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there’ll be costs on other parts maybe 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 charges with in particular in this video the next would be things to know prior to you in fact begin investing in copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs truly essential to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling all right so commission costs are free nevertheless there are a couple of other fees the first one is withdrawal fees so you can obviously 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 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 understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may say okay that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just among those options that they have a lot of platforms undoubtedly are totally 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 as soon as every six months you understand depends entirely how you’re investing but that is a charge to keep in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’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 good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and two free trade anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they actually 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 state offer me us dollars rather you have to pay their fees now the terrific feature of though when you have actually transformed your cash you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent using that part of their site won’t certainly restrict you in any way however we have to know 2 other costs the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you
on is generally the difference that belongs to the investment platform between the buy cost 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 site right now tesla’s dollar worth 599 per share in tesla that in fact suggests that when you want to offer or purchase as you can see it’s not the cost you’re seeing up here let me show you that again so the current rate of tesla is the value of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll find this all over this is another way that they make a small amount of profit from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you state all right well why does that occur it simply 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 sell it which is how they make a bit of money on those spread costs it’s normally 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 bit money now the last feat is called an
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overnight charge now this is truly crucial if you’re in fact utilizing cfds yourself also an overnight cost is when you’re refraining from doing that buy sell deal in the same day alright there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which implies you’re really purchasing the precise possession rather than using leverage anyway you will not get hit with these costs but these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the exact same day so let’s state if you go into the aid section 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 charges then for when you’re doing overnight or you’re doing over weekends and that only applies as i said to cfds there are some surcharges of course depending on what you are purchasing as well this is on your own so keep that in mind but complete costs are totally within their aid details fine and we talked about in addition to 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 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of really utilizing these copy operates they don’t have any additional charges on top of the regular charges that
exist now what you require to keep in mind though is these potentially managed by other individuals totally or in some cases have actually created portfolios you have actually got a genuine individual doing the management you have to make sure you choose the person that’s right for you similar to any kind of work this is your financial assets so we absolutely require to ensure it’s the right person for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of different options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money maybe this is a great option for you once again to test the theories all right you might wish to purchase tesla or apple or this etf why not use the virtual alternative as a way to sort of safe have fun with it certainly you might have lost out on gains and losses during that time obviously if you had invested your genuine money it permits you to construct self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to bear in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i suggest 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 okay with potentially losing an excellent amount of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 people will lose money but that equally indicates they’ll lose eventually in their journey obviously people do generate income as well and i have actually got videos all about how you can ensure you’re one of individuals to in fact earn money but in this situation make certain you research study your risk level would you be all right offering your cash to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re investing in totally if you’re someone who isn’t wanting to be that risky don’t choose someone who’s entirely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities
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like gold or even oil plus more standard 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 state you can really use this too really easily over here you can copy people now it will give you a lot of choices and you can use the system to actually search for someone that you elegant in fact following so let’s see maybe we want someone from united 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 discover everyone who has fulfilled that requirements and it does provide you a danger aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to verify are you okay with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she actually investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s certainly 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 really for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s also got a bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production companies as that. Does Etoro Need Ssn.
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