We get htis a lot on our site the answer to Etoro Debit Vs Bank….Questions that i speak with new investors what if you’re brand new to investing you merely do not wish to decide what you in fact want to invest and you want somebody to do it for you there’s just a couple of manner ins which that can occur the firstly you can work with a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is obviously 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 as well now if you’re brand new to a total please keep in mind this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform don’t just 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 give that option also so you in fact get used 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 danger this is investing we’re doing you’re buying real business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something since that person has stated they’ve made revenue 14 months in a row buy these options because you believe is the ideal ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending 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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famous for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that suggests 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 charges included actually vital you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real business 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 no cost websites then may not charge you for actually buying and selling etfs or funds individual products individual stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 before you in fact start purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges really essential to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling okay so commission costs are free nevertheless there are a number of other costs 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 automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you sell your shares you offer your products 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 understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply among those choices that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a cost to keep in mind the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just 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 anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two open market anyone at all this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually offering 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 give me us dollars rather you have to pay their fees now the terrific thing about though when you have actually transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their site won’t definitely limit you in any way nevertheless we have to know two other charges the very first being what’s called spread charges fine 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 alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that in fact suggests that when you wish to purchase or offer as you can see it’s not the price you’re seeing up here let me show you that once again so the present price of tesla is the value of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind obviously it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you state alright well why does that occur it simply 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 wish to offer it and that is how they make a bit of cash on those spread out fees it’s usually extremely small 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 money now the last accomplishment is called an
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over night charge now this is actually important if you’re in fact using cfds yourself as well an overnight fee is when you’re not doing that buy sell deal in the same day fine there’s then an overnight fee charged and even if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one utilize which means you’re in fact purchasing the exact asset rather than using leverage anyhow you will not get hit with these costs however these charges are if you’re utilizing leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you go into the aid area this isn’t the overnight charges information you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some service charges of course depending upon what you are buying too this is on your own so keep that in mind but complete costs are entirely within their help information fine and we spoke about along with free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of actually utilizing these copy operates they don’t have any additional fees on top of the typical costs that
exist now what you need to bear in mind though is these potentially managed by other individuals entirely or in some cases have developed portfolios you have actually got a genuine person doing the management you have to ensure you select the person that’s right for you similar to any profession this is your financial properties so we definitely require to ensure it’s the right person for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a number of various choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play 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 generally have this virtual portfolio imitate as if you are utilizing your own cash however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is a fantastic option for you again to test the theories alright you may wish to buy tesla or apple or this etf why not use the virtual alternative as a way to type of safe have fun with it undoubtedly you may have missed out on gains and losses during that time naturally if you had invested your genuine cash it enables you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i indicate by that undoubtedly 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 implies am i okay with potentially losing a good amount of this investment or gaining as
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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that equally indicates they’ll lose eventually in their journey clearly people do make money too and i’ve got videos all about how you can ensure you’re one of the people to actually generate income but in this circumstance make sure you research your danger level would you be fine offering your cash to somebody else which is successfully what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous don’t select someone who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold and even oil plus more standard etfs and index funds you might 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 actually use this too truly quickly over here you can copy individuals now it will give you a lot of choices and you can use the system to actually look for somebody that you elegant really following so let’s see possibly we want somebody from united kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everybody who has fulfilled that requirements and it does give 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 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 somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance 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 verify are you okay with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she in fact buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine actually that i invest in too which is excellent so really for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s also got a bit more um of the sort of primary food companies and you have actually got you know pharmaceutical and production business as that. Etoro Debit Vs Bank.
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