We get htis a lot on our site the answer to How To Open Etoro Wallet….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply don’t want to decide what you really want to invest and you want somebody to do it for you there’s just a number of manner ins which that can happen the first of all you can work with a financial investment portfolio manager they’ll generally charge a quite 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 buy mutual funds particular funds are created once 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 an overall please bear in mind this platform is rather sophisticated you can do cfds which of course cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform do not simply presume due to the fact that i utilize 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 consider that option as well so you in fact get utilized to the structure of the site and after that 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 threat this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row invest in these options due to the fact that you believe 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
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popular for it’s the option to see what other traders are doing amazing we don’t usually 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 money we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that means 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 fees involved actually critical you understand what are the costs of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no cost sites then may not charge you for actually buying and selling funds or etfs specific 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 kinds of costs 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 prior to you actually start buying copy trading or copy portfolios and finally 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 kick off with fees truly essential to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling okay so commission charges are complimentary however there are a number of other fees the first one is withdrawal charges so you can obviously 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 wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might state okay that’s quite pricey 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 among those choices that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends completely how you’re investing however that is a charge to bear in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s fine 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 even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i expect 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 charge exists what are they really offering 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 state provide me us dollars rather you have to pay their charges now the terrific aspect of however when you’ve transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent utilizing that part of their website will not definitely limit you in any way nevertheless we need to know two other fees the very first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is generally the difference that becomes part of the investment platform in between the buy price 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 website right now tesla’s dollar value 599 per share in tesla that actually suggests that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that again so the current rate of tesla is the worth 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 all over this is another manner in which they make a percentage of profit from you every time you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to offer so they’re going to give you less back with your sale and you state all right well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to sell it and that is how they make a little bit of money on those spread charges it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit cash now the last task is called an
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overnight fee now this is really essential if you’re really utilizing cfds yourself also an over night cost is when you’re not doing that buy offer transaction in the very same day alright 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 commodity and using time one take advantage of which suggests you’re really purchasing the specific property instead of utilizing leverage anyhow you will not get hit with these fees but these costs are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s state if you go into the assistance area this isn’t the over night charges info you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which only uses as i said to cfds there are some added fees of course depending upon what you are investing in also this is on your own so keep that in mind but complete costs are totally within their aid info all right and we spoke about along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of actually using these copy works they do not have any extra fees on top of the normal costs that
exist now what you require to bear in mind though is these possibly managed by other individuals completely or sometimes have produced portfolios you’ve got a genuine individual doing the management you have to ensure you pick the person that’s right for you much like any type of work this is your monetary assets so we absolutely require to make sure it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a number of various alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual methods 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 need to put in your charge card information or anything you can essentially have this virtual portfolio simulate as if you are using your own money however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a fantastic choice for you again to test the theories alright you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun 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 in fact how to copy individuals and copy portfolios now here’s something to keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i mean by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply means am i okay with potentially losing a good amount of this financial investment or getting as
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well now remember whatever is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 people will lose cash however that similarly indicates they’ll lose eventually in their journey clearly individuals do generate income also and i’ve got videos all about how you can make sure you are among individuals to in fact generate income however in this situation make sure you research study your danger level would you be fine providing your cash to somebody else which is efficiently what you’re doing and trusting them ensure you understand what they’re buying fully if you’re someone who isn’t wishing to be that dangerous don’t choose somebody who’s completely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong products
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like gold or perhaps 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 state you can actually use this too actually quickly over here you can copy people now it will give you a lot of options and you can utilize the system to in fact search for someone that you expensive really following so let’s see possibly we want somebody from united kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a great quantity and i can discover everybody who has fulfilled that criteria and it does give you a threat 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 number of people that have rather high returns
remember 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 might 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 know ask you to validate are you fine with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she actually 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 excellent to understand ibm paypal yep she’s absolutely like sort 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 in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she chooses she’s also got a bit more um of the kind of main food business and you have actually got you know pharmaceutical and production business as that. How To Open Etoro Wallet.
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