We get htis a lot on our site the answer to When Did I Open My Etoro Account….Concerns that i hear from new financiers what if you’re brand new to investing you just do not want to decide what you really wish to invest and you want someone to do it for you there’s just a number of ways that that can happen the first off you can work with an investment portfolio supervisor 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 purchase mutual funds specific funds are created 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 too now if you’re brand new to an overall please keep in mind this platform is quite innovative you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you really get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something since that individual has stated they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the best ones for you which being said let’s dive straight in [Music] so the important 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 aspect that is probably.
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well-known for it’s the option to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for instance 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 fees included really important you understand what are the costs of this now with any platform there will be some expense to undoubtedly 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 no charge sites then might not charge you for actually buying and selling funds or etfs private products specific stocks.
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there’ll be charges on other parts possibly 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 reveal you the charges with in particular in this video the next would be things to understand before you actually begin investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with fees really important to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling fine so commission costs are free however there are a couple of other charges the first one is withdrawal fees so you can undoubtedly put cash in now if you remain 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 but when you want to withdraw your cash so you sell your shares you offer your products 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state okay that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply one of those choices that they have a great deal 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 six months you understand depends completely how you’re investing but that is a fee to keep in mind the second charge that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’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 purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact providing 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 offer me us dollars rather you need to pay their charges now the terrific feature of though when you have actually transformed your cash you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy 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 really good utilizing that part of their website won’t definitely limit you in any way nevertheless we have to understand 2 other charges the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is essentially the difference that is part of the financial investment platform in between the buy rate and the list price fine 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 worth 599 per share in tesla that actually implies that when you wish to purchase or offer as you can see it’s not the price you’re seeing up here let me show you that again so the present cost of tesla is the worth of a share what’s called spread costs is the difference 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 each time you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to purchase 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 occur it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it which is how they make a bit of money on those spread out charges it’s generally incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a little bit money now the last task is called an
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overnight cost now this is truly crucial if you’re actually using cfds yourself as well an over night fee is when you’re not doing that buy sell deal in the same day fine there’s then an over night cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one take advantage of which implies you’re in fact purchasing the specific asset rather than utilizing take advantage of anyhow you won’t get hit with these costs but these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you enter into the assistance section this isn’t the over night costs details 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 just uses as i stated to cfds there are some service charges of course depending on what you are purchasing also this is on your own so keep that in mind but complete costs are totally within their aid info fine and we spoke about along with complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 different ways of in fact using these copy operates they don’t have any extra charges on top of the normal charges that
are there now what you need to remember though is these possibly handled by other individuals completely or often have actually produced portfolios you’ve got a real individual doing the management you need to make sure you pick the individual that’s right for you similar to any profession this is your financial possessions so we absolutely need to make sure it’s the right person for us before 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 alternatives for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t 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 cash however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is a great choice for you once again to test the theories all right you may want to buy tesla or apple or this etf why not use the virtual choice as a method to type of safe have fun with it undoubtedly you might have missed out on gains and losses during that time of course if you had actually invested your real cash it permits you to construct confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to bear in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy ensure 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 say the longer you’re leaving your investments the riskier you can be risk simply means am i okay with possibly losing a great amount of this investment or acquiring as
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well now keep in mind whatever is downs and ups you will make money you’ll lose cash that’s why they make the figure 75 people will lose cash however that equally means they’ll lose at some point in their journey certainly individuals do generate income as well and i’ve got videos everything about how you can ensure you are among individuals to actually make money but in this situation make sure you research your danger level would you be all right providing your cash to someone else which is effectively what you’re doing and trusting them make sure you comprehend what they’re investing in totally if you’re someone who isn’t wishing to be that dangerous do not pick somebody who’s totally into crypto or currency conversion consider it you ‘d probably want a foundation of strong products
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like gold or even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can in fact utilize this too truly easily over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to actually look for someone that you elegant actually 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 gained at least 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has actually met that criteria and it does provide you a danger element also 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 individuals that have quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance 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 validate are you alright 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 excellent to know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is good so really 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 type of primary food companies and you’ve got you know pharmaceutical and production business as that. When Did I Open My Etoro Account.
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