We get htis a lot on our site the answer to Etoro Virtual Practice Account Account….Questions that i hear from new investors what if you’re brand new to investing you simply do not wish to choose what you in fact want to invest and you want somebody to do it for you there’s just a number of ways that that can take place the first of all you can work with an investment portfolio manager they’ll generally charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are produced 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 an overall please keep in mind this platform is rather advanced you can do cfds which naturally cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you actually get used to the structure of the website and after that 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 genuine business if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not just do something because that individual has stated they’ve made profit 14 months in a row invest in these options due to the fact that you think is the best ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
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famous for it’s the option to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that means 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 charges included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero charge sites then may not charge you for really buying and selling funds or etfs individual commodities individual stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 understand before you really start investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with charges really important to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission costs are complimentary nevertheless there are a couple of other fees the very first one is withdrawal costs so you can clearly put cash in now if you remain 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 want to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a cost to remember the 2nd fee that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they in fact giving 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 rather you need to pay their costs now the excellent aspect of though when you’ve transformed your cash you do not have to invest it right away that dollar value 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 really excellent using that part of their website will not certainly restrict you in any way however we have to be aware of 2 other costs the first being what’s called spread costs all right and i’m going to show you what i imply on now a spread fee as i’m going to reveal you
on is generally the difference that becomes part of the investment platform between the buy rate and the price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that actually means that when you want to purchase or sell as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread costs 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 percentage of profit from you whenever you do a purchaser’s share so keep that in mind obviously it’s more costly 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 in between if you’re buying it then you want to offer it which is how they make a bit of money on those spread charges it’s typically extremely small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit cash now the last feat is called an
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overnight charge now this is really crucial if you’re in fact using cfds yourself too an overnight charge is when you’re refraining from doing that buy offer deal in the exact same day alright there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one take advantage of which indicates you’re in fact purchasing the specific possession rather than using leverage anyway you will not get hit with these fees however these fees are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you enter into the help area this isn’t the over night charges details you can see exactly 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 which just applies as i said to cfds there are some added fees of course depending upon what you are purchasing too this is on your own so keep that in mind but complete costs are completely within their help info fine and we talked about as well as complimentary to deposit in however there’s a 5 dollar charge if you wish 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 two different methods of really using these copy functions they don’t have any additional costs on top of the typical charges that
exist now what you need to remember though is these possibly handled by other people totally or sometimes have produced portfolios you have actually got a real person doing the management you need to make certain you choose the individual that’s right for you similar to any line of work this is your financial possessions so we definitely require to make sure it’s the right individual for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of different alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own money however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is a great choice for you once again to evaluate the theories alright you might wish to purchase tesla or apple or this etf why not use the virtual choice as a method to type of safe play with it undoubtedly you may have missed out on gains and losses during that time naturally if you had actually invested your real cash it permits you to build self-confidence understand the platform so that’s one choice for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to keep in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i suggest 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 risk just suggests am i alright with possibly losing an excellent amount of this financial investment or gaining as
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well now remember whatever is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose money but that similarly suggests they’ll lose at some time in their journey certainly people do earn money as well and i’ve got videos all about how you can make certain you are among individuals to in fact make money 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 investing in fully if you’re someone who isn’t wanting to be that risky do not choose someone who’s entirely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong products
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like gold or even oil plus more traditional 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 state you can actually use this too truly easily over here you can copy people now it will offer you a great deal of options and you can use the system to really look for somebody that you expensive really following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everybody who has actually fulfilled that criteria and it does offer you a risk element also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number 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 somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way 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 confirm are you okay with this and off you go now another method to actually deep dive if we click on this person for instance ruby mza as an example you can in fact 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 little bit so that’s good to know ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got some of mine actually that i purchase too which is excellent so in fact for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she chooses she’s likewise got a bit more um of the kind of main food companies and you have actually got you understand pharmaceutical and production business as that. Etoro Virtual Practice Account Account.
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