We get htis a lot on our site the answer to Etoro Tax Ireland….Questions that i hear from brand-new financiers what if you’re brand new to investing you merely don’t want to choose what you actually want to invest and you desire somebody to do it for you there’s just a couple of manner ins which that can take place the first of all you can work with a financial investment portfolio manager 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 particular 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 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 really having the total of capital so with anything that you’re learning about please do study the platform don’t simply assume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you actually get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has said they’ve made profit 14 months in a row purchase these options since you think is the best ones for you which being said let’s dive straight in [Music] so the important 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 aspect that is probably.
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popular for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved truly crucial you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge websites then may not charge you for actually buying and selling etfs or funds specific products individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 actually start buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking of 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 costs to do with actually buying and selling okay so commission costs are totally free however there are a number of other fees the first one is withdrawal fees so you can obviously put money in now if you remain 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 however when you wish to withdraw your cash so you offer 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 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing however that is a fee to bear in mind the 2nd charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they really offering 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 provide me us dollars rather you need to pay their costs now the great aspect of however when you’ve transformed your money you do not need to invest it right away 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 buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s really good utilizing that part of their site won’t definitely restrict you in any way however we have to know 2 other fees the first being what’s called spread charges alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you
on is basically the distinction that belongs to the financial investment platform between the buy cost and the price okay 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 really indicates that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that again so the current 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 small amount of benefit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to offer so they’re going to give you less back with your sale and you state okay well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread costs it’s normally extremely small it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a bit cash now the last feat is called an
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over night charge now this is actually essential if you’re really using cfds yourself too an over night cost is when you’re not doing that buy offer transaction in the exact same day alright there’s then an overnight cost charged or perhaps 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 actually buying out the etf the stock the product and using time one take advantage of which implies you’re in fact purchasing the exact asset instead of using leverage anyway you will not get hit with these charges however these charges are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s say if you go into the assistance area this isn’t the over night fees info you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which just applies as i said to cfds there are some service charges obviously depending on what you are buying as well this is on your own so keep that in mind but complete fees are totally within their help details okay and we discussed along with free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of really using these copy functions they do not have any additional fees on top of the normal fees that
are there now what you need to keep in mind though is these potentially handled by other people entirely or sometimes have actually developed portfolios you have actually got a genuine individual doing the management you have to make sure you pick the person that’s right for you much like any kind of work this is your monetary properties so we absolutely need to make sure it’s the best person for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of various choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t need to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is a great choice for you 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 type of safe play with it obviously you may have lost out on gains and losses during that time naturally if you had actually invested your genuine cash it enables you to develop self-confidence comprehend the platform so that’s one option for you then next week and i’m going to return 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 bear 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 clearly 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 risk just implies am i fine with potentially losing a great amount of this investment or gaining 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 money however that equally indicates they’ll lose eventually in their journey undoubtedly people do generate income as well and i have actually got videos all about how you can make certain you are among the people to in fact generate income however in this circumstance make certain you research your threat level would you be alright providing your money to another person which is effectively what you’re doing and trusting them make sure you understand what they’re buying completely if you’re somebody who isn’t wishing to be that risky don’t select someone who’s totally into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact utilize this too truly quickly over here you can copy individuals now it will give you a great deal of choices and you can use the system to actually look for somebody that you elegant in fact following so let’s see possibly we want someone from unified kingdom um who invests in let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can discover everyone who has actually met that criteria and it does provide you a threat element as well 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 individuals that have quite high returns
remember it resembles 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 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 then you understand ask you to verify are you fine with this and off you go now another way to really 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 buying 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 great to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is good so actually for me understanding what i like to invest in my private stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she chooses she’s also got a bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production companies as that. Etoro Tax Ireland.
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