We get htis a lot on our site the answer to How To Set Up A Etoro Pro Account After I Have A Etoro Account….Questions that i hear from brand-new investors what if you’re brand new to investing you merely do not wish to decide what you really wish to invest and you desire somebody to do it for you there’s only a number of manner ins which that can take place the first off 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 earnings will go to them the other thing is of course you can buy mutual funds specific funds are produced 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 an overall please bear in mind this platform is rather advanced you can do cfds which obviously cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform do not simply assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you in fact get used to the structure of the site and after that 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 investing in genuine companies if you choose to in this particular video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something because that person has stated they have actually made earnings 14 months in a row purchase these choices due to the fact that you think is the right ones for you and that being stated let’s dive directly 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 alternative to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies 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 charges involved truly critical you understand what are the expenses of this now with any platform there will be some cost to undoubtedly 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 a few of the absolutely no fee websites then may not charge you for actually buying and selling funds or etfs private commodities private stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 in fact start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with charges truly crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling fine so commission fees are totally free nevertheless there are a couple of other costs the first one is withdrawal costs 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 automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you sell your products 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 of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say all right that’s rather 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 fees are just among those options that they have a great deal of platforms clearly are totally 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 when every 6 months you understand depends entirely how you’re investing but that is a fee to keep in mind the second fee that i’ve touched upon is that conversion cost 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 great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they actually giving 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 provide me us dollars rather you have to pay their charges now the great thing about though when you’ve converted your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 fees so that’s truly good using that part of their website will not definitely limit you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread costs okay and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is generally the difference that belongs to the financial investment platform between the buy price and the list 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 today tesla’s dollar value 599 per share in tesla that in fact indicates that when you wish to offer or purchase as you can see it’s not the rate you’re seeing up here let me show you that again so the current cost of tesla is the value of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you state alright 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 offer it and that is how they make a little bit of cash on those spread out costs it’s normally extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit money now the last feat is called an
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over night fee now this is actually important if you’re actually utilizing cfds yourself as well an over night fee is when you’re refraining from doing that buy sell transaction in the same day fine there’s then an over night charge charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which means you’re really purchasing the precise property rather than utilizing leverage anyway you won’t get hit with these fees but these charges are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you enter into the assistance area this isn’t the over night costs info you can see precisely the breakdown and it’ll tell you what are the charges what are the costs 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 additional charges naturally depending upon what you are purchasing as well this is on your own so keep that in mind however full fees are completely within their help information alright and we discussed in addition to free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity 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 2 various ways of really using these copy works they don’t have any extra charges on top of the normal fees that
exist now what you need to keep in mind though is these possibly managed by other people completely or in some cases have actually produced portfolios you have actually got a genuine person doing the management you need to make sure you select the individual that’s right for you similar to any kind of work this is your financial possessions so we definitely require to make sure it’s the ideal 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 couple of various choices 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 methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your charge card information or anything you can generally have this virtual portfolio imitate as if you are using your own money however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money possibly this is a terrific alternative for you again to evaluate 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 obviously you may have missed out on gains and losses during that time of course if you had actually invested your real money it allows you to construct confidence understand the platform so that’s one option for you then next week and i’m going to go back to my genuine 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 before you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i imply by that clearly 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 means am i fine with potentially losing a good amount of this financial investment or gaining 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 statistic 75 people will lose money but that similarly implies they’ll lose eventually in their journey clearly individuals do earn money as well and i’ve got videos everything about how you can make certain you are among individuals to really make money however in this scenario ensure you research your danger level would you be all right providing your money to someone else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous do not pick somebody who’s completely into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong commodities
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like gold or even oil plus more conventional etfs and index funds you may 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 in fact utilize this too really easily over here you can copy people now it will offer you a lot of choices and you can use the system to really search for somebody that you elegant in fact following so let’s see maybe we want somebody from united kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can discover everybody who has met that requirements and it does provide you a danger aspect also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have rather high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not imply somebody 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 basic as clicking the copy button and off you go and then you know ask you to validate 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 really deep dive into what is she in fact investing in 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 understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is excellent so in fact for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the type of main food companies and you’ve got you know pharmaceutical and production business as that. How To Set Up A Etoro Pro Account After I Have A Etoro Account.
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