We get htis a lot on our site the answer to Error 60054 Etoro….Questions that i speak with brand-new investors what if you’re brand new to investing you simply do not want to decide what you really want to invest and you desire somebody to do it for you there’s just a number of manner ins which that can occur the firstly you can work with a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific funds are created 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 an overall please keep in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re learning about please do study the platform do not simply presume since i use it that you can utilize 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 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 naturally your capital is at danger this is investing we’re doing you’re buying real business if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something because that person has actually stated they have actually made earnings 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being stated let’s dive directly 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 becomes part of social trading which is one element that is most likely.
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famous for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved truly important you understand what are the costs of this now with any platform there will be some expense to clearly these are real 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 cost sites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you actually begin investing in copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees really important to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling okay so commission charges are free nevertheless there are a number of other charges the very first one is withdrawal costs so you can clearly put money in now if you’re 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 later but when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum quantity 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 ensure that i’m only withdrawing when i absolutely require to now you may say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those alternatives that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every 6 months you understand depends entirely how you’re investing but that is a fee to remember the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s great that fits 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 fee now when you utilize anybody so if you’re utilizing trading two and two open market anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need 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 excellent thing about though when you’ve transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their site will not definitely limit you in any way nevertheless we need to understand 2 other fees the first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread fee as i’m going to show you
on is generally the distinction that is part of the investment platform in between the buy rate and the price fine 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 value 599 per share in tesla that really implies that when you wish to sell or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the present 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 all over 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 undoubtedly it’s more expensive to purchase than it is to offer so they’re going to offer you less back with your sale and you state okay well why does that happen it just 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 want to sell it which is how they make a bit of money on those spread out charges it’s generally exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a bit cash now the last task is called an
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overnight cost now this is truly crucial if you’re in fact utilizing cfds yourself also an overnight cost is when you’re not doing that buy offer deal in the very same day alright there’s then an overnight charge charged or even if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which implies you’re in fact buying the exact asset instead of using leverage anyhow you will not get hit with these fees but these costs 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 exact same day so let’s state if you go into the assistance area this isn’t the overnight costs info 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 and that just applies as i said to cfds there are some added fees naturally depending upon what you are buying also this is on your own so keep that in mind however complete charges are completely within their help info okay and we spoke about in addition to free to deposit in but there’s a five 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 cost now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of really using these copy works they don’t have any extra fees on top of the normal costs that
exist now what you need to keep in mind though is these potentially handled by other individuals totally or often have created portfolios you’ve got a genuine individual doing the management you have to make sure you select the person that’s right for you much like any type of work this is your financial assets so we absolutely require to ensure it’s the best individual for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a couple of different options for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money 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 charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own money however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash maybe this is an excellent alternative for you again to evaluate the theories all right you may wish to purchase tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe have fun with it undoubtedly you might have missed out on gains and losses throughout that time naturally if you had actually invested your genuine money it enables you to construct confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i mean by that clearly 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 run the risk of just implies am i all right with possibly losing a good amount of this financial investment or acquiring as
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well now remember whatever is downs and ups you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose cash but that similarly suggests they’ll lose eventually in their journey clearly people do make money also and i’ve got videos all about how you can make sure you’re one of individuals to in fact generate income but in this scenario make sure you research your risk level would you be fine giving your cash to another person which is effectively what you’re doing and trusting them make certain you comprehend what they’re purchasing completely if you’re someone who isn’t wanting to be that dangerous do not choose someone who’s completely into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong products
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like gold or even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really utilize this too actually quickly over here you can copy people now it will give you a great deal of options and you can use the system to actually search for somebody that you elegant really following so let’s see possibly we desire somebody from united kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a good amount and i can find everyone who has actually fulfilled that requirements and it does provide you a risk factor 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 individuals that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to verify are you alright with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is great so really for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s also got a bit more um of the type of primary food business and you have actually got you know pharmaceutical and production companies as that. Error 60054 Etoro.
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