We get htis a lot on our site the answer to Does Etoro Support Quicken Direct Connect….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t want to decide what you really want to invest and you desire somebody 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 usually charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is obviously 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 as well now if you’re brand new to an overall please keep in mind this platform is rather innovative you can do cfds which of course cfds are ways of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you really get used 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 purchasing real companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that person has actually stated they’ve made earnings 14 months in a row purchase these choices since you think is the best ones for you which being said let’s dive straight in [Music] so the important 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 aspect that is probably.
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popular for it’s the alternative to see what other traders are doing incredible we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates 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 each time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included really important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine business 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 in fact buying and selling etfs or funds private products individual 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 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 actually begin buying copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges really crucial to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission charges are free however there are a couple of other charges the first one is withdrawal charges so you can undoubtedly put cash in now if you remain 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 however when you want to withdraw your cash 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 five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely need 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 someplace and withdrawal fees are just among those alternatives that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you understand depends completely how you’re investing however that is a charge to keep in mind the second cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s fine 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 good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and 2 open market anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they actually providing you in regards to 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 say give me us dollars rather you need to pay their costs now the excellent feature of though when you have actually converted your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial 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 extra fees so that’s actually great using that part of their site won’t certainly restrict you in any way however we need to know 2 other charges the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is generally the distinction that is part of the investment platform in between the buy rate and the list price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that in fact implies that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the current 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 all over 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 pricey to buy than it is to sell so they’re going to provide you less back with your sale and you state alright well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a little bit of money on those spread charges it’s usually exceptionally small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a bit cash now the last feat is called an
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over night fee now this is truly essential if you’re in fact using cfds yourself too an overnight fee is when you’re not doing that buy sell deal in the exact same day alright there’s then an over night fee charged or even if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which means you’re actually purchasing the precise property rather than utilizing take advantage of anyhow you will not get hit with these fees but these charges are if you’re using take advantage of and cfds and after that 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 over night costs information you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some additional charges of course depending on what you are buying also this is on your own so keep that in mind however full charges are entirely within their assistance info all right and we spoke about as well as free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of really using these copy works they do not have any extra charges on top of the typical fees that
exist now what you need to remember though is these possibly handled by other individuals totally or often have actually created portfolios you’ve got a real individual doing the management you need to ensure you select the person that’s right for you similar to any line of work this is your monetary assets so we absolutely require 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 various alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your charge card information or anything you can generally have this virtual portfolio mimic as if you are using your own money however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash possibly this is an excellent alternative for you again to check the theories fine you might 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 undoubtedly you may have lost out on gains and losses throughout that time naturally if you had invested your real cash it enables you to build confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy people 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 comprehend what your threat profile is now what do i mean by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just implies am i all right with potentially losing a good quantity of this investment or acquiring as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 people will lose cash however that similarly indicates they’ll lose at some time in their journey certainly individuals do make money too and i have actually got videos everything about how you can ensure you are among individuals to really earn money but in this circumstance ensure you research study your risk level would you be fine providing your cash to somebody else which is successfully what you’re doing and trusting them ensure you understand what they’re investing in totally if you’re somebody who isn’t wishing to be that risky do not pick someone who’s totally into crypto or currency conversion think about it you ‘d most likely want a backbone of strong commodities
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like gold and even oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can in fact utilize this too really easily over here you can copy people now it will give you a great deal of choices and you can utilize the system to in fact look for someone that you elegant really following so let’s see maybe we desire someone from unified kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can find everybody who has fulfilled that requirements and it does provide you a danger element too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to confirm are you fine 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 really deep dive into what is she actually investing in so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s definitely like sort 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 knowing 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 seems to be what she prefers she’s also got a bit more um of the kind of primary food business and you’ve got you understand pharmaceutical and production business as that. Does Etoro Support Quicken Direct Connect.
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