We get htis a lot on our site the answer to Etoro Base Currency….Questions that i speak with new financiers what if you’re brand new to investing you just don’t wish to choose what you in fact wish to invest and you want somebody to do it for you there’s only a couple of manner ins which that can happen the first of all you can work with an investment portfolio supervisor they’ll normally charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 too now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which obviously 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 assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own cash 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 real business if you select to in this specific video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row purchase these options due to the fact that you think is the ideal ones for you and that being said let’s dive straight in [Music] so the 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 aspect that is most likely.
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famous for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that implies if for example 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 fees included really crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business 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 sites then might not charge you for really buying and selling etfs or funds private commodities private stocks.
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there’ll be costs on other parts possibly 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 show you the charges with in particular in this video the next would be things to know before you in fact begin purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with fees truly essential to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling all right so commission costs are complimentary nevertheless there are a couple of other fees the very first one is withdrawal costs so you can certainly put cash in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering 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 ensure that i’m only withdrawing when i absolutely need to now you might say okay that’s quite costly and i get that however 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 certainly are 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 understand depends completely how you’re investing however that is a charge to keep in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that suits 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 excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and 2 open market anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact giving you in regards to 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 say provide me us dollars instead you need to pay their fees now the fantastic thing about however when you’ve converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as money 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 occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great using that part of their site will not definitely restrict you in any way however we need to be aware of 2 other fees the very first being what’s called spread costs alright and i’m going to show you what i mean on now a spread cost as i’m going to show you
on is essentially 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 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that really implies that when you wish 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 present rate of tesla is the worth of a share what’s called spread charges is the distinction then really to buy 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 buyer’s share so keep that in mind clearly it’s more pricey to buy than it is to sell so they’re going to give you less back with your sale and you say fine well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you want to sell it which is how they make a little bit of money on those spread out costs it’s usually extremely little it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a bit cash now the last accomplishment is called an
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over night charge now this is actually essential if you’re really using cfds yourself also an over night charge is when you’re not doing that buy sell deal in the very same day alright there’s then an over night cost 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 in fact buying out the etf the stock the commodity and using time one utilize which suggests you’re actually purchasing the exact asset instead of utilizing leverage anyhow you won’t get hit with these charges but these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy offering in the same day so let’s say if you go into the assistance section this isn’t the overnight costs info you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which just applies as i said to cfds there are some surcharges naturally depending upon what you are investing in also this is on your own so keep that in mind but full charges are completely within their help info fine and we discussed in addition to totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of actually using these copy works they do not have any additional costs on top of the typical costs that
are there now what you need to remember though is these possibly handled by other people entirely or often have actually created portfolios you’ve got a real person doing the management you need to make certain you pick the individual that’s right for you much like any type of work this is your financial possessions so we definitely need 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 wish to utilize this function we have actually got a couple 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 money or a virtual platform virtual means 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 information or anything you can essentially have this virtual portfolio simulate as if you are using your own money however really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money perhaps this is a great option for you once again to evaluate the theories all right you might wish to buy tesla or apple or this etf why not use the virtual alternative as a method to type of safe have fun with it obviously you might have missed out on gains and losses throughout that time of course if you had actually invested your genuine money it allows you to build self-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 individuals and copy portfolios now here’s something to keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i imply by that undoubtedly 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 alright with possibly losing an excellent quantity of this investment or getting as
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well now remember whatever is ups and downs you will earn money you’ll lose money that’s why they make the statistic 75 people will lose money but that similarly means they’ll lose at some point in their journey undoubtedly individuals do generate income too and i’ve got videos all about how you can make sure you’re one of individuals to in fact earn money however in this situation make sure you research study your danger level would you be fine providing your cash to somebody else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re buying totally if you’re someone who isn’t wishing to be that dangerous don’t pick someone who’s totally into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong products
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like gold and even oil plus more traditional etfs and index funds you may not want 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 utilize this too actually easily over here you can copy individuals now it will provide you a great deal of options and you can use the system to in fact search for somebody that you fancy actually following so let’s see perhaps we desire someone from united kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everybody who has actually met that requirements and it does provide you a threat factor as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
bear in mind it’s like 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 might make 4 or minus 50 there’s no other way to ensure 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 validate are you okay with this and off you go now another way to actually deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she actually 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 excellent to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine actually that i buy too which is excellent so really for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production business as that. Etoro Base Currency.
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