We get htis a lot on our site the answer to Does Etoro Take Money….Questions that i hear from brand-new investors what if you’re brand new to investing you just do not wish to decide what you really want to invest and you want somebody to do it for you there’s only a number of manner ins which that can take place the first off you can employ a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular funds are created 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 as well now if you’re brand new to an overall please keep in mind this platform is quite innovative you can do cfds which of course cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you really 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 investing in genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something because that person has said they’ve made earnings 14 months in a row buy these options because you think is the right ones for you and that being stated let’s dive straight 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 belongs to 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 extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your money will be mimicked 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 likewise cover is the charges included truly critical you understand what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no charge sites then might not charge you for really buying and selling etfs or funds specific products specific stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 understand before you actually begin purchasing copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with fees really essential to comprehend these now on there’s a number of fees there isn’t fees to do with really buying and selling all right so commission costs are totally free however there are a couple of other costs the very first one is withdrawal costs so you can certainly put money in now if you remain 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 want to withdraw your money 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 might state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those options that they have a lot of platforms undoubtedly are 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 as soon as every 6 months you know depends entirely how you’re investing however that is a charge to keep in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’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 buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two free trade anyone at all this is standard they have i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they really giving 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 give me us dollars rather you need to pay their costs now the great thing about however when you’ve converted your money you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests 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 truly great using that part of their site will not definitely limit you in any way nevertheless we have to be aware of 2 other charges the very first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is essentially the distinction that is part of the investment platform in between the buy rate and the price okay 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 value 599 per share in tesla that actually suggests that when you want to sell or purchase as you can see it’s not the rate you’re seeing up here let me show you that again so the current price of tesla is the value of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of profit from you each time you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to sell so they’re going to give you less back with your sale and you state all right well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread costs 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 again make a bit money now the last feat is called an
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over night charge now this is really important if you’re really utilizing cfds yourself as well an over night charge is when you’re not doing that buy sell deal in the same day okay there’s then an overnight cost charged and even 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 leverage which means you’re actually buying the precise asset rather than using leverage anyway you won’t get hit with these fees but these costs are if you’re utilizing utilize 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 details you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just uses as i stated to cfds there are some added fees of course depending upon what you are purchasing too this is on your own so keep that in mind but full charges are totally within their assistance information all right and we spoke about in addition to totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of actually utilizing these copy works they don’t have any extra costs on top of the normal costs that
are there now what you need to bear in mind though is these potentially handled by other people entirely or in some cases have actually produced portfolios you’ve got a genuine individual doing the management you need to ensure you select the person that’s right for you similar to any type of work this is your financial assets so we definitely require to make sure it’s the right person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of different choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money perhaps this is an excellent choice for you once again to check the theories fine you may want to purchase tesla or apple or this etf why not use the virtual alternative as a method to sort of safe play with it obviously you might have lost out on gains and losses throughout that time obviously if you had invested your real cash it enables you to build confidence comprehend 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 actually how to copy people and copy portfolios now here’s something to keep in mind before you select someone 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 indicate by that certainly 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 just suggests am i fine with potentially losing an excellent quantity of this investment or acquiring as
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well now keep in mind whatever is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 people will lose cash but that similarly suggests they’ll lose at some point in their journey certainly individuals do make money as well and i’ve got videos everything about how you can make sure you are among individuals to in fact earn money but in this situation make certain you research your threat level would you be okay giving your money to somebody else which is efficiently what you’re doing and trusting them make certain you understand what they’re investing in totally if you’re someone who isn’t wanting to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion consider it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can in fact use this too really easily over here you can copy people now it will offer you a great deal of choices and you can use the system to really search for someone that you elegant actually following so let’s see perhaps we want somebody from unified kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everybody who has satisfied that criteria and it does offer you a danger aspect also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have rather high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not imply someone 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 easy as clicking the copy button and off you go and after that you understand ask you to validate are you all right with this and off you go now another way 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 buying so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine in fact that i buy too which is good so in fact for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the kind of primary food business and you’ve got you understand pharmaceutical and production companies as that. Does Etoro Take Money.
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