We get htis a lot on our site the answer to How To Change Etoro To Lifo….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 wish to invest and you desire somebody to do it for you there’s just a number of manner ins which that can occur the to start with you can hire a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are produced 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 keep in mind this platform is quite innovative you can do cfds which of course cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform do not just assume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you really get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that individual has actually said they’ve made profit 14 months in a row purchase these choices because you think is the best ones for you which being stated 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 belongs to 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 extraordinary we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can really say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that implies if for example 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 also cover is the charges included truly important you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 no cost sites then may not charge you for really buying and selling etfs or funds 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 type of costs 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 know before you in fact begin buying copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs actually crucial to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling fine so commission costs are complimentary nevertheless there are a number 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 instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell 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 obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just one of those options 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 mainly it can be perhaps even once a year once every six months you understand depends completely how you’re investing however that is a fee to remember the 2nd charge that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually offering you in terms of 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 give me us dollars instead you have to pay their costs now the fantastic feature of however when you’ve converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent utilizing that part of their website will not certainly restrict you in any way nevertheless we need to understand two other fees the very first being what’s called spread charges alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you
on is basically the distinction that belongs to the investment platform between the buy price and the list price okay it’s their premium on doing both those two 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 offer or purchase as you can see it’s not the price you’re seeing up here let me reveal you that once again so the existing price of tesla is the worth 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 manner in which they make a small amount of profit from you whenever you do a buyer’s share so keep that in mind certainly 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 say fine well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference 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 costs it’s usually incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a little bit money now the last task is called an
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over night cost now this is actually important if you’re really utilizing cfds yourself also an over night cost is when you’re not doing that buy offer deal in the same day alright there’s then an over night fee 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 utilize which implies you’re in fact buying the exact asset rather than utilizing utilize anyway you won’t get hit with these charges however these costs are if you’re using utilize and cfds and after that you’re going to have these fees if you’re not buy selling in the exact same day so let’s say if you enter into the help area this isn’t the over night fees information you can see exactly the breakdown and it’ll inform 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 on what you are purchasing as well this is on your own so keep that in mind but full fees are completely within their help details okay and we talked about in addition to totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of actually using these copy functions they do not have any extra costs on top of the normal costs that
exist now what you require to remember though is these potentially handled by other people completely or often have produced portfolios you have actually got a real individual doing the management you need to make sure you pick the individual that’s right for you just like any kind of work this is your monetary assets so we definitely need to make sure it’s the ideal person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash 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 will not require to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own money but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is an excellent choice for you once again to evaluate the theories all right you might want 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 may have missed out on gains and losses during that time obviously if you had actually invested your real money it permits you to develop self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually 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 comprehend what your danger profile is now what do i imply by that undoubtedly 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 just suggests am i alright with possibly losing a great quantity of this investment or getting as
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well now keep in mind everything is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose money however that similarly implies they’ll lose at some point in their journey certainly individuals do generate income also and i have actually got videos everything about how you can make sure you’re one of individuals to actually make money however in this situation make sure you research your threat level would you be okay giving your money to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that risky do not select somebody who’s entirely into crypto or currency conversion think about it you ‘d probably desire a foundation of strong products
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like gold and even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact use this too truly easily over here you can copy people now it will offer you a lot of options and you can use the system to actually look for someone that you elegant in fact following so let’s see perhaps we desire someone from joined kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has actually satisfied that requirements and it does offer you a danger aspect also 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 people that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they might make 4 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 after that you know ask you to validate are you fine with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she actually purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is good so in fact for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s also got a bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. How To Change Etoro To Lifo.
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