We get htis a lot on our site the answer to Does Etoro Take American Express….Concerns that i speak with new investors what if you’re brand new to investing you merely do not wish to choose what you in fact want to invest and you desire someone to do it for you there’s just a number of manner ins which that can happen the to start with you can work with an investment portfolio manager they’ll typically charge a rather a high premium to do that possibly one or two percent of your earnings will go to them the other thing is of course you can purchase mutual funds specific funds are produced 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 also now if you’re brand new to a total 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 full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you actually get utilized 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 naturally your capital is at risk this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re talking about how to copy other people’s investments with your money 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 earnings 14 months in a row purchase these options because you think is the best 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 unbelievable we don’t generally 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 cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates if for example 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 costs included truly vital you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee websites then may not charge you for in fact buying and selling funds or etfs specific commodities individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you really start buying copy trading or copy portfolios and finally some best advice best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs truly crucial to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission costs are free however there are a couple of other charges the very first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you offer your shares you sell your products 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those alternatives that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you know depends totally how you’re investing however that is a cost to bear in mind the second charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice 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 anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and 2 free trade anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they really offering 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 state offer me us dollars instead you have to pay their fees now the great feature of though when you have actually transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really good utilizing that part of their site won’t definitely restrict you in any way however we have to be aware of 2 other fees the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you
on is basically the difference that is part of the financial investment platform between the buy cost and the list price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that actually implies that when you want to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the existing cost of tesla is the worth of a share what’s called spread charges is the difference then in fact to buy that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to sell so they’re going to provide you less back with your sale and you say all right well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction 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 costs it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit cash now the last task is called an
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overnight cost now this is actually important if you’re actually using cfds yourself also an overnight charge is when you’re not doing that buy offer deal in the same day alright there’s then an over night charge charged and even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which suggests you’re in fact buying the specific possession instead of using utilize anyway you won’t get hit with these fees but these costs are if you’re utilizing leverage and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s say if you go into the aid section this isn’t the overnight fees info you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that only uses as i said to cfds there are some added fees naturally depending on what you are purchasing as well this is on your own so keep that in mind but full costs are entirely within their assistance information fine and we spoke about in addition to totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of in fact utilizing these copy works they don’t have any additional fees on top of the typical charges that
are there now what you need to bear in mind though is these potentially managed by other individuals entirely or sometimes have produced portfolios you’ve got a genuine individual doing the management you need to make certain you pick the person that’s right for you just like any line of work this is your financial assets so we definitely need to make sure it’s the right individual for us before we copy them so the first things i would call it if you do want to use this function we’ve got a number of various options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real money 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 really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash possibly this is a fantastic alternative for you again to test the theories alright you may wish to buy tesla or apple or this etf why not use the virtual choice as a way to sort of safe play with it clearly you might have lost out on gains and losses throughout that time of course if you had invested your genuine money it allows you to develop self-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 really how to copy individuals and copy portfolios now here’s something to keep in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i imply 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 run the risk of simply suggests am i okay with possibly losing a good amount of this 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 money but that equally indicates they’ll lose eventually in their journey clearly people do make money as well and i’ve got videos everything about how you can ensure you’re one of individuals to actually generate income but in this scenario make sure you research your risk level would you be all right offering your cash to somebody else which is efficiently what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re someone who isn’t wishing to be that risky do not select somebody who’s completely into crypto or currency conversion think of it you ‘d probably want a foundation of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really utilize this too truly easily over here you can copy individuals now it will give you a lot of choices and you can utilize the system to actually look for someone that you expensive actually following so let’s see maybe we want someone from united kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good amount and i can find everyone who has actually fulfilled that requirements and it does give you a risk element too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of people that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not indicate 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 then you know ask you to validate are you alright with this and off you go now another method to really deep dive if we click on 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 understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine really that i invest in too which is good so in fact for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s likewise 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 Take American Express.
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