We get htis a lot on our site the answer to How To Close Etoro Account….Questions that i hear from brand-new financiers what if you’re brand new to investing you merely do not wish to choose what you in fact want to invest and you want someone to do it for you there’s just a number of ways that that can happen the to start with you can hire an investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds particular funds are developed 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 too now if you’re brand new to a total please keep in mind this platform is quite innovative you can do cfds which naturally cfds are methods of investing
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with not really having the total 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 use it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you really 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 of course your capital is at risk this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row invest in these options since you think is the best ones for you and that being said let’s dive straight 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 probably.
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well-known for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included actually crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly 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 zero cost websites then may not charge you for in fact buying and selling funds or etfs private products individual stocks.
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there’ll be costs 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 charges with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs really crucial to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling alright so commission fees are totally free however there are a number of other costs the first one is withdrawal costs so you can certainly put money 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 wish to withdraw your money so you sell your shares you sell 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 knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a fee to bear in mind the second fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and 2 open market anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they really 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 state provide me us dollars rather you have to pay their charges now the excellent thing about though when you’ve transformed your cash you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really great using that part of their site won’t certainly restrict you in any way however we need to know two other costs the very first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you
on is essentially the distinction that becomes part of the financial investment platform in between the buy cost and the price all right 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 suggests that when you want to purchase or sell as you can see it’s not the price you’re seeing up here let me show you that again so the present cost of tesla is the value of a share what’s called spread charges is the distinction then actually to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of benefit 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 sell so they’re going to give you less back with your sale and you state all right well why does that happen it just 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 sell it and that is how they make a little bit of money on those spread out charges it’s normally exceptionally 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 little bit money now the last task is called an
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over night cost now this is really essential if you’re really using cfds yourself as well an overnight charge is when you’re refraining from doing that buy offer transaction in the very same day alright there’s then an over night cost charged and even 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 commodity and using time one utilize which suggests you’re really buying the precise property rather than utilizing take advantage of anyhow you won’t get hit with these fees but these charges are if you’re utilizing leverage 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 state if you go into the assistance section this isn’t the overnight fees information you can see exactly 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 and that only applies as i said to cfds there are some service charges obviously depending upon what you are buying as well this is on your own so keep that in mind however full charges are entirely within their assistance information alright and we talked about in addition to complimentary to deposit in but there’s a five 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 cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of really using these copy works they do not have any additional fees on top of the normal fees that
exist now what you need to bear in mind though is these possibly managed by other people totally or sometimes have actually produced portfolios you’ve got a genuine person doing the management you have to make sure you select the individual that’s right for you much like any type of work this is your monetary possessions so we absolutely need to ensure it’s the best individual for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different alternatives for us first of all 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 methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your credit card information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own cash however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real cash possibly this is a great alternative for you once again to test the theories alright you may wish to buy tesla or apple or this etf why not use the virtual option as a way to sort of safe play with it certainly you might have missed out on gains and losses during that time obviously if you had invested your genuine money it enables you to build 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 really how to copy individuals and copy portfolios now here’s something to remember before you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i indicate by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just indicates am i alright with possibly losing a great quantity of this financial investment or acquiring as
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well now remember everything is downs and ups you will earn money you’ll lose money that’s why they make the figure 75 individuals will lose money however that similarly suggests they’ll lose at some time in their journey certainly people do earn money also and i have actually got videos everything about how you can ensure you are among the people to actually generate income but in this circumstance make sure 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 certain you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that dangerous do not select somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong commodities
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like gold or even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually utilize this too actually easily over here you can copy people now it will offer you a great deal of choices and you can utilize the system to really look for someone that you elegant actually following so let’s see perhaps we want someone from joined kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everybody who has fulfilled that requirements and it does offer you a danger aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not suggest someone 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 simple as clicking the copy button and off you go and after that you know ask you to confirm are you okay with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really buying 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 good to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is great so actually for me knowing what i like to invest in 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 likewise got a bit more um of the kind of primary food companies and you’ve got you know pharmaceutical and production business as that. How To Close Etoro Account.
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