We get htis a lot on our site the answer to Does Etoro Pay My Tax….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just don’t want to choose what you in fact wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can occur the firstly you can employ an investment portfolio supervisor they’ll typically charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds specific funds are developed 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 too now if you’re brand new to an overall please keep in mind this platform is quite sophisticated 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 finding out about please do study the platform don’t simply presume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you actually get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger 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 invest in these options since you believe is the ideal ones for you and that 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 element that is most likely.
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popular for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually say i want to do precisely what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates 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 costs included really crucial you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no fee sites then may not charge you for actually buying and selling etfs or funds specific products individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees actually important to comprehend these now on there’s a couple of fees there isn’t charges to do with really buying and selling all right so commission costs are complimentary however there are a number of other costs the very first one is withdrawal costs so you can certainly 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 but when you wish to withdraw your cash so you sell your shares you sell your commodities 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply among those choices that they have a lot of platforms certainly are totally free to do such things has this 5 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 completely how you’re investing however that is a fee to bear in mind the 2nd fee that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 open market anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there 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 provide me us dollars instead you need to pay their charges now the great aspect of though when you’ve converted your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests 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 additional costs so that’s truly great utilizing that part of their site will not definitely restrict you in any way nevertheless we need to be aware of 2 other charges the very first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you
on is essentially the difference that is part of the investment platform between the buy cost and the list price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that in fact means that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me show you that once again so the current rate of tesla is the value of a share what’s called spread fees is the difference 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 make money from you each time you do a purchaser’s share so keep that in mind obviously it’s more costly to buy than it is to offer 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 great deal of platforms out there there’s a difference in between if you’re buying it then you want to sell it and that is how they make a little bit of cash on those spread out charges it’s typically exceptionally 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 little bit money now the last feat is called an
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overnight cost now this is actually crucial if you’re in fact using cfds yourself also an overnight fee is when you’re not doing that buy sell transaction in the very same day okay there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost 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 exact asset instead of utilizing take advantage of anyhow you will not get hit with these costs but these fees are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s state if you go into the aid area this isn’t the over night costs details you can see precisely 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 uses as i stated to cfds there are some surcharges obviously depending upon what you are investing in too this is on your own so keep that in mind but full fees are totally within their help information all right and we discussed in addition to 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 commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of really utilizing these copy functions they do not have any extra fees on top of the regular charges that
are there now what you require to keep in mind though is these potentially handled by other people totally or often have produced portfolios you have actually got a real person doing the management you need to make sure you pick the individual that’s right for you much like any profession this is your monetary assets so we absolutely 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 couple of different options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual methods i think 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 charge card details or anything you can basically have this virtual portfolio imitate as if you are using your own money but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money maybe this is a fantastic choice for you once again to evaluate the theories fine you may want to buy tesla or apple or this etf why not use the virtual option as a method to kind of safe play with it obviously you might have lost out on gains and losses throughout that time of course if you had actually invested your real money it permits you to construct 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 really how to copy individuals and copy portfolios now here’s something to bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i indicate by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just suggests am i all right with potentially losing a good quantity of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose money but that similarly suggests they’ll lose eventually in their journey undoubtedly individuals do earn money as well and i’ve got videos everything about how you can ensure you’re one of the people to in fact make money but in this scenario ensure you research study your threat level would you be all right giving your cash to another person which is efficiently what you’re doing and trusting them make certain you comprehend what they’re purchasing totally if you’re someone who isn’t wishing to be that risky do not choose somebody who’s totally into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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like gold or perhaps 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 actually use this too actually easily over here you can copy people now it will provide you a great deal of options and you can utilize the system to actually look for someone that you expensive in fact following so let’s see maybe we want somebody from joined kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has fulfilled that criteria and it does give you a risk element also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have quite high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four 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 then you understand ask you to verify are you okay with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she in fact purchasing so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to know ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is good so in fact for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s also got a little bit more um of the kind of main food business and you’ve got you understand pharmaceutical and production companies as that. Does Etoro Pay My Tax.
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