We get htis a lot on our site the answer to Is Etoro Cold Storage Safe….Questions that i hear from new financiers what if you’re brand new to investing you just don’t wish to decide what you actually want to invest and you desire somebody to do it for you there’s only a number of ways that that can take place the to start with you can work with a financial investment portfolio manager they’ll typically 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 obviously you can purchase mutual funds specific 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 remember this platform is rather innovative 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 discovering please do study the platform do not simply presume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize 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 particular video we’re discussing how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something because that individual has actually stated they have actually made profit 14 months in a row invest in these choices because you think is the ideal ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes 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 typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really say i wish to do exactly what that trader is doing or match that precise portfolio of options and generally every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved truly important you understand what are the expenses of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no fee sites then may not charge you for actually buying and selling funds or etfs private products individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you actually begin investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges really crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with really buying and selling alright so commission costs are free nevertheless there are a number of other costs the first one is withdrawal charges so you can obviously put money 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 later however when you want to withdraw your cash so you sell your shares you offer 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 just withdrawing when i absolutely require to now you may say fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those choices that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing however that is a fee to keep in mind the 2nd charge that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative 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 anyhow 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 utilize anybody so if you’re using trading 2 and 2 free trade anybody this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists 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 bargain with them you can’t go to the bank and say give me us dollars rather you need to pay their charges now the great thing about though when you’ve transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as money 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 takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good utilizing that part of their site will not definitely restrict you in any way however we need to be aware of 2 other fees the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is generally the distinction that belongs to the investment platform in between the buy cost and the list price okay it’s their premium on doing both those two 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 sell or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the current price of tesla is the value of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you say alright well why does that occur 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 and that is how they make a little bit of cash on those spread charges it’s generally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit cash now the last task is called an
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overnight cost now this is truly essential if you’re actually utilizing cfds yourself too an over night cost is when you’re refraining from doing that buy offer transaction in the exact same day all right there’s then an overnight charge charged or even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one take advantage of which indicates you’re in fact buying the specific asset instead of using utilize anyhow you won’t get hit with these costs but these fees are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s say if you enter into the help area this isn’t the over night fees details you can see exactly 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 which only applies as i said to cfds there are some surcharges naturally depending on what you are buying as well this is on your own so keep that in mind but complete costs are completely within their assistance information fine and we talked about as well as 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 everything 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 works they don’t have any extra fees on top of the regular fees that
exist now what you require to remember though is these potentially managed by other individuals totally or sometimes have produced portfolios you have actually got a genuine individual doing the management you have to make certain you select the person that’s right for you much like any line of work this is your monetary possessions so we absolutely require to ensure it’s the best person for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of various choices for us to start with if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your charge card details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money perhaps this is a great option for you once again to test the theories okay you may want to buy tesla or apple or this etf why not use the virtual option as a method to sort of safe have fun with it obviously you might have lost out on gains and losses during that time obviously if you had invested your genuine cash it permits you to develop self-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 keep in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk 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 financial investments the riskier you can be risk simply indicates am i okay with possibly losing a great amount of this investment or acquiring as
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well now remember whatever is downs and ups you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose cash however that equally means they’ll lose eventually in their journey obviously individuals do make money as well and i’ve got videos all about how you can ensure you are among individuals to really make money however in this circumstance make sure you research your risk level would you be all right offering your cash to somebody else which is successfully what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re somebody who isn’t wishing to be that dangerous do not pick someone who’s totally into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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like gold or perhaps oil plus more standard etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact use this too truly easily over here you can copy people now it will give you a great deal of choices and you can utilize the system to really search for somebody that you expensive really following so let’s see perhaps we desire somebody from joined kingdom um who purchases let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has met that criteria and it does offer you a danger element too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of individuals that have rather high returns
remember it resembles 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 could make four or minus 50 there’s no way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to confirm are you okay with this and off you go now another method to really deep dive if we click 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 good to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine really that i buy too which is excellent so in fact for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the kind of main food business and you’ve got you know pharmaceutical and production companies as that. Is Etoro Cold Storage Safe.
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