We get htis a lot on our site the answer to How To Change Currency In Etoro….Questions that i hear from brand-new investors what if you’re brand new to investing you just don’t wish to decide what you in fact wish to invest and you want someone to do it for you there’s just a couple of ways that that can happen the first off you can work with a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can buy mutual funds particular funds are produced once 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 as well now if you’re brand new to an overall please remember this platform is rather 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 learning about please do study the platform do not simply presume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you actually get used to the structure of the website 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 purchasing real companies if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has said they’ve made earnings 14 months in a row buy these options since you think is the best 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 belongs to social trading which is one element that is probably.
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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 great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that suggests if for example 10 of their financial 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 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 included and even a few of the no charge sites then might not charge you for really buying and selling etfs or funds private products specific stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 understand before you really start buying copy trading or copy portfolios and lastly some best guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges actually crucial to comprehend these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling all right so commission costs are free however there are a number of other costs the 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 immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling 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 ensure that i’m only withdrawing when i definitely require to now you might say fine that’s rather 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 undoubtedly are totally 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 when every 6 months you know depends totally how you’re investing but that is a fee to remember the 2nd fee that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase 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 anyway 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 charge now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you kind of have 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 actually providing 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 rather you have to pay their charges now the fantastic thing about though when you have actually converted your cash 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 indicates the preliminary 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 additional costs so that’s really excellent utilizing that part of their site won’t certainly restrict you in any way however we have to understand two other fees the first being what’s called spread fees all right and i’m going to reveal you what i imply 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 in between the buy rate and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that actually means that when you want to sell or purchase 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 difference then in fact 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 profit from you each time you do a buyer’s share so keep that in mind certainly 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 alright well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference 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 out charges it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit cash now the last accomplishment is called an
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overnight cost now this is truly essential if you’re in fact utilizing cfds yourself too an over night fee is when you’re refraining from doing that buy offer transaction in the exact same day okay there’s then an overnight charge charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one utilize which implies you’re actually buying the specific possession instead of utilizing take advantage of anyway you won’t get hit with these charges however these costs are if you’re using leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the exact same day so let’s state if you enter into the assistance area this isn’t the overnight fees details you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends which only uses as i said to cfds there are some added fees of course depending on what you are purchasing as well this is on your own so keep that in mind but full charges are completely within their help info fine and we talked about as well as totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of in fact utilizing these copy functions they do not have any extra fees on top of the regular charges that
exist now what you need to bear in mind though is these possibly handled by other people completely or sometimes have created portfolios you’ve got a genuine person doing the management you need to ensure you choose the individual that’s right for you similar to any kind of work this is your financial assets so we definitely need to make certain it’s the best person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of various choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual methods 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 credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money perhaps this is a terrific option for you again to test the theories fine you may wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to type of safe play with it undoubtedly you might have missed out on gains and losses throughout that time naturally if you had invested your real cash it enables you to construct 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 really how to copy people 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 sure you understand what your danger profile is now what do i indicate by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply indicates am i fine with possibly losing an excellent 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 money that’s why they make the fact 75 individuals will lose money however that equally implies they’ll lose at some time in their journey obviously people do earn money too and i have actually got videos everything about how you can make certain you are among individuals to really earn money however in this scenario make sure you research your threat level would you be alright offering your money to somebody else which is effectively what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re somebody who isn’t wanting to be that risky don’t select someone who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong commodities
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can really utilize this too actually easily over here you can copy people now it will provide you a great deal of options and you can use the system to actually search for someone that you fancy in fact following so let’s see perhaps we want someone from joined kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has fulfilled that requirements and it does give you a danger factor as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of people that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to verify are you fine with this and off you go now another way to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she in fact investing in 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 good 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 in fact that i purchase too which is excellent so in fact for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s also got a little bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production companies as that. How To Change Currency In Etoro.
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