We get htis a lot on our site the answer to How To Interpret Etoro 1099K….Concerns that i hear from new financiers what if you’re brand new to investing you merely don’t wish to decide what you really wish to invest and you want someone to do it for you there’s only a couple of ways that that can occur the firstly you can work with a financial investment portfolio manager they’ll normally charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is of course you can purchase mutual funds specific funds are created 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 a total please bear in mind this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform do not just assume since i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you actually get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine business if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at threat and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row invest in 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 aspect that is most likely.
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famous for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really say i want to do exactly what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for example 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 also cover is the charges included actually important you understand what are the expenses of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero charge websites then may not charge you for actually buying and selling funds or etfs specific commodities 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 prior to you actually begin purchasing copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges really essential to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling alright so commission fees are totally free nevertheless there are a number of other costs the very first one is withdrawal fees so you can clearly put cash in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you offer your commodities 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 make sure that i’m only withdrawing when i absolutely need to now you might say okay that’s quite costly 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 options that they have a lot of platforms certainly are complimentary 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 totally how you’re investing but that is a fee to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 free trade anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really 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 say offer me us dollars rather you have to pay their costs now the excellent thing about though when you have actually transformed your money 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 suggests the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their site won’t definitely limit you in any way nevertheless we need to understand two other costs the very first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is basically the distinction that becomes part of the investment platform in between the buy rate and the sale price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that in fact indicates that when you want to purchase or sell as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current price of tesla is the value of a share what’s called spread charges is the difference then in fact to buy that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you say 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 want to offer it which is how they make a little bit of money on those spread fees it’s typically exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit cash now the last task is called an
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overnight cost now this is really important if you’re in fact utilizing cfds yourself also an over night charge is when you’re refraining from doing that buy sell deal in the exact same day alright there’s then an over night charge charged or even if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which implies you’re in fact purchasing the specific asset instead of using utilize anyhow you will not get hit with these charges however these costs are if you’re using leverage and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s state if you enter into the help area this isn’t the over night costs information you can see precisely the breakdown and it’ll tell 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 applies as i stated to cfds there are some service charges naturally depending upon what you are buying as well this is on your own so keep that in mind however complete fees are entirely within their aid details fine and we spoke about along with complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of actually using these copy functions they don’t have any extra fees on top of the normal fees that
are there now what you need to bear in mind though is these possibly handled by other people entirely or in some cases have produced portfolios you’ve got a real person doing the management you need to ensure you pick the individual that’s right for you similar to any profession this is your monetary assets so we absolutely 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 want to use this function we have actually got a couple of various options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun 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 mimic as if you are using your own cash however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money perhaps this is an excellent choice for you once again to test the theories fine you might want to purchase tesla or apple or this etf why not use the virtual choice as a way to sort of safe play with it certainly you might have lost out on gains and losses during that time obviously if you had invested your genuine money it permits you to build confidence understand the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i imply by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just suggests am i okay with possibly losing an excellent amount of this investment or gaining as
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well now keep in mind everything is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash however that equally means they’ll lose eventually in their journey clearly individuals do earn money too and i’ve got videos everything about how you can make certain you’re one of the people to in fact earn money but in this situation make certain you research your threat level would you be alright giving your cash to someone else which is successfully what you’re doing and trusting them make sure you understand what they’re investing in totally if you’re someone who isn’t wishing to be that dangerous do not select someone who’s entirely into crypto or currency conversion consider it you ‘d probably desire a backbone 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 very same with who you’re following now as i say you can really use this too really quickly over here you can copy people now it will provide you a great deal of choices and you can use the system to really search for someone that you fancy really following so let’s see possibly we want somebody from unified kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a good quantity and i can discover everyone who has actually met that criteria and it does offer you a risk aspect as well 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
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 could make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to verify are you fine with this and off you go now another method to in fact deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s certainly 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 really for me understanding what i like to buy 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 prefers she’s likewise got a bit more um of the sort of primary food companies and you’ve got you understand pharmaceutical and production companies as that. How To Interpret Etoro 1099K.
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