We get htis a lot on our site the answer to How To Close Position On Etoro….Concerns that i hear from new investors what if you’re brand new to investing you simply don’t wish to choose what you really wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can take place the firstly you can employ an investment portfolio supervisor they’ll generally charge a rather 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 specific funds are developed 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 also now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which naturally cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform don’t simply presume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice too so you really get used 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 risk this is investing we’re doing you’re investing in genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something since that individual has said they have actually made earnings 14 months in a row purchase these options since you think is the right ones for you which being stated 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 element that is most likely.
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well-known for it’s the option to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i want 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 sell whatever they do your money will be mimicked with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved truly important you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero charge websites then may not charge you for really buying and selling funds or etfs individual products private stocks.
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there’ll be fees on other parts possibly 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 reveal you the fees with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and lastly some best suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with charges really important to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling alright so commission costs are free however there are a number of other fees the very first one is withdrawal charges 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 in the future however when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may say okay 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 costs are just among those alternatives that they have a great deal of platforms obviously are totally 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 when every 6 months you understand depends entirely how you’re investing however that is a fee to keep in mind the second charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and 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 utilizing trading 2 and two open market anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact giving 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 say give me us dollars instead you need to pay their charges now the terrific thing about though when you’ve converted your money you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies 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 charges so that’s actually great using that part of their site won’t certainly limit you in any way however we have to be aware of 2 other charges the first being what’s called spread costs alright and i’m going to show you what i suggest on now a spread fee as i’m going to show you
on is basically the distinction that becomes part of the investment platform between the buy cost and the sale price all right 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 really suggests that when you want to offer or purchase as you can see it’s not the price you’re seeing up here let me reveal you that again so the present rate of tesla is the value of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of benefit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to give you less back with your sale and you say all right 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 want to offer it which is how they make a bit of cash on those spread out charges it’s generally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit money now the last feat is called an
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overnight cost now this is actually crucial if you’re actually using cfds yourself also an overnight charge is when you’re refraining from doing that buy offer transaction in the very same day okay there’s then an over night cost charged and even if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which suggests you’re in fact purchasing the precise asset instead of using take advantage of anyway you will not get hit with these costs however these charges are if you’re using utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s state if you enter into the aid section this isn’t the over night fees info you can see precisely 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 and that just uses as i stated to cfds there are some surcharges naturally depending upon what you are buying as well this is on your own so keep that in mind but complete fees are totally within their help info all right and we spoke 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 typical commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of actually utilizing these copy works they don’t have any extra fees on top of the typical costs that
exist now what you need to bear in mind though is these potentially managed by other individuals entirely or in some cases have actually created portfolios you have actually got a genuine person doing the management you have to make sure you select the person that’s right for you much like any profession this is your monetary assets so we definitely require to make sure it’s the best individual for us before 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 options for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real money 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 cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a great option for you again to check the theories all right you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it certainly you may have missed out on gains and losses during that time naturally if you had invested your genuine money it permits you to build self-confidence understand 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 keep in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i indicate by that undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just suggests am i alright with potentially losing a good quantity of this investment or acquiring as
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well now remember whatever is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 people will lose cash however that equally indicates they’ll lose at some time in their journey obviously individuals do generate income also and i have actually got videos all about how you can ensure you’re one of individuals to in fact earn money however in this circumstance make sure you research study your risk level would you be okay providing your cash to someone else which is successfully what you’re doing and trusting them make sure you understand what they’re buying completely if you’re somebody who isn’t wanting to be that risky do not pick 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 and even oil plus more conventional etfs and index funds you may 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 actually use this too truly quickly over here you can copy individuals now it will give you a great deal of options and you can utilize the system to in fact search for someone that you elegant actually following so let’s see maybe we desire somebody from unified kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has satisfied that criteria and it does offer you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of individuals that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they might make four 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 then you know 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 example ruby mza as an example you can actually deep dive into what is she really 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 great to know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine in fact that i buy 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 an excellent spread in tech business that seems to be what she chooses she’s also got a little bit more um of the type of primary food business and you have actually got you know pharmaceutical and production companies as that. How To Close Position On Etoro.
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