We get htis a lot on our site the answer to Etoro Client Suitability Test Answers….Concerns that i hear from brand-new investors what if you’re brand new to investing you merely don’t want to choose what you in fact want to invest and you desire someone to do it for you there’s only a number of ways that that can occur the to start with you can hire a financial investment portfolio supervisor they’ll usually charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can buy mutual funds particular funds are developed 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 also now if you’re brand new to a total please bear in mind this platform is rather sophisticated 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 finding out about please do study the platform do not simply assume since i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you actually 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 of course your capital is at danger this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something because that person has stated they have actually made profit 14 months in a row purchase these options due to the fact that you think is the right ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending 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 choice to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really say i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for instance 10 of their financial 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 fees involved really vital you comprehend what are the expenses of this now with any platform there will be some cost 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 a few of the zero cost sites then may not charge you for in fact buying and selling funds or etfs private products specific stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with fees truly essential to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a couple of other costs the very first one is withdrawal charges so you can undoubtedly put cash 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 in the future but when you wish to withdraw your cash so you offer your shares you sell 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 of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may say okay 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 just among those options that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a charge to keep in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps 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 utilizing trading 2 and two free trade anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact 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 say offer me us dollars instead you need to pay their fees now the great thing about however when you’ve converted your cash you do not need to invest it right now 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 purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good utilizing that part of their site won’t definitely restrict you in any way however we need to know 2 other costs the first being what’s called spread charges okay and i’m going to show you what i imply on now a spread charge as i’m going to show you
on is essentially the difference that belongs to the investment platform between the buy cost 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 right now tesla’s dollar worth 599 per share in tesla that in fact indicates that when you want to sell or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present rate of tesla is the worth of a share what’s called spread charges is the difference 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 percentage of benefit from you every time you do a buyer’s share so keep that in mind undoubtedly 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 say fine well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a little bit of cash on those spread out fees it’s typically exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit money now the last task is called an
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overnight cost now this is really important if you’re in fact utilizing cfds yourself too an overnight charge is when you’re refraining from doing that buy offer transaction in the same day okay there’s then an overnight charge charged or even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which means you’re really purchasing the specific asset rather than using leverage anyhow you will not get hit with these charges but these costs are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s say if you enter into the help section this isn’t the over night charges details you can see precisely the breakdown and it’ll tell 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 only applies as i stated to cfds there are some added fees obviously depending upon what you are buying too this is on your own so keep that in mind however complete charges are totally within their assistance information alright and we discussed along with free to deposit in however there’s a 5 dollar charge if you want 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 2 various methods of in fact using these copy functions they do not have any extra charges on top of the normal charges that
are there now what you need to remember though is these potentially managed by other people completely or in some cases have actually developed portfolios you have actually got a real individual doing the management you need to make certain you pick the individual that’s right for you much like any kind of work this is your financial possessions 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 utilize this function we have actually got a number of different alternatives for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your credit card details or anything you can basically have this virtual portfolio simulate as if you are utilizing your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money maybe this is an excellent alternative for you once again to check the theories all right you may wish to purchase tesla or apple or this etf why not use the virtual choice as a way to kind of safe have fun with it obviously you might have lost out on gains and losses throughout that time naturally if you had invested your genuine cash it allows you to construct self-confidence understand the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember before you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend 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 risk just indicates am i okay with possibly losing an excellent quantity of this financial investment or acquiring as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose cash however that similarly means they’ll lose at some point in their journey certainly individuals do earn money too and i’ve got videos all about how you can make certain you’re one of individuals to really earn money but in this circumstance ensure you research your risk level would you be alright giving your cash to somebody else which is effectively what you’re doing and trusting them ensure you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that dangerous don’t select somebody who’s completely into crypto or currency conversion think about it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more conventional 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 state you can really use this too actually quickly over here you can copy people now it will provide you a great deal of choices and you can use the system to really look for somebody that you fancy in fact following so let’s see perhaps we want someone from united kingdom um who invests in let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds a great quantity and i can discover everybody who has actually fulfilled that criteria 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 undoubtedly there are a variety 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 somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to verify are you alright 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 actually deep dive into what is she really buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine really that i purchase too which is great so actually for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s also got a bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production companies as that. Etoro Client Suitability Test Answers.
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