We get htis a lot on our site the answer to Why Can’t I Close My Position On Etoro….Concerns that i speak with new financiers what if you’re brand new to investing you just do not want to decide what you really want to invest and you desire somebody to do it for you there’s just a couple of manner ins which that can occur the firstly you can work with an investment portfolio supervisor they’ll usually charge a quite 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 developed 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 quite sophisticated you can do cfds which of course cfds are ways of investing
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with not really having the total of capital so with anything that you’re learning about please do study the platform do not simply presume since i use it that you can use it immediately 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 used to the structure of the site and after that when you’re ready to use your own money 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 specific video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something since that individual has actually said they’ve made revenue 14 months in a row invest in these choices due to the fact that you think is the ideal ones for you which being said 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 element that is most likely.
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famous for it’s the option to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially every time they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for instance 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 likewise cover is the fees involved actually important you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly 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 might not charge you for in fact buying and selling etfs or funds individual products private stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs 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 know before you actually start investing in copy trading or copy portfolios and finally some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with fees actually crucial to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission charges are complimentary nevertheless there are a couple of other fees the first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you offer your shares you offer your products whatever you’re selling 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 only withdrawing when i absolutely need to now you may state okay that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those options that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing however that is a cost to keep in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyhow 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 charge now when you use anybody so if you’re using 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 type of need to accept you know if you want to use their platform go from uk to us then that conversion fee 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 haggle with them you can’t go to the bank and say offer me us dollars rather you have to pay their costs now the terrific feature of though when you have actually converted your money you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or convert 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 site will not certainly limit you in any way however we need to know 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 charge as i’m going to reveal you
on is generally the distinction that becomes part of the financial investment platform in between the buy price and the sale price alright 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 indicates that when you want to purchase or offer as you can see it’s not the cost you’re seeing up here let me show you that once again so the current price of tesla is the value of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of profit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you state fine well why does that happen it simply 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 want to sell it which is how they make a bit of cash on those spread charges it’s typically incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit cash now the last accomplishment is called an
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over night fee now this is actually essential if you’re actually using cfds yourself too an overnight charge is when you’re not doing that buy offer transaction in the same day alright there’s then an over night charge charged or perhaps if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which means you’re in fact purchasing the exact possession rather than using leverage anyway you will not get hit with these costs but these fees are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s state if you go into the aid section this isn’t the overnight costs information you can see exactly 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 and that just uses as i said to cfds there are some surcharges of course depending on what you are purchasing too this is on your own so keep that in mind however complete fees are entirely within their help details fine and we spoke about in addition to complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various ways of in fact using these copy functions they do not have any additional costs on top of the typical costs that
are there now what you require to bear in mind though is these possibly managed by other individuals totally or often have actually created portfolios you’ve got a genuine person doing the management you need to make certain you select the person that’s right for you much like any line of work this is your monetary assets so we definitely require to ensure it’s the ideal person for us before we copy them so the first things i would call it if you do want to use this function we’ve got a couple of different alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real cash or a virtual platform virtual means 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 generally have this virtual portfolio mimic as if you are utilizing your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash maybe this is an excellent choice for you again to test the theories okay you may want to buy tesla or apple or this etf why not use the virtual alternative as a way to kind of safe play with it clearly you might have missed out on gains and losses throughout that time naturally if you had invested your real money it allows you to construct self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to remember before you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i suggest by that undoubtedly 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 simply suggests am i fine with possibly losing an excellent amount of this investment or acquiring as
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well now remember whatever is downs and ups you will make money you’ll lose money that’s why they make the statistic 75 people will lose money but that equally suggests they’ll lose eventually in their journey undoubtedly people do make money also and i’ve got videos everything about how you can make sure you’re one of individuals to in fact generate income however in this situation make certain you research your threat level would you be okay giving your money to someone else which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing totally if you’re someone who isn’t wanting to be that risky don’t choose someone who’s completely into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong commodities
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like gold and even oil plus more standard etfs and index funds you may not desire 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 utilize this too actually quickly over here you can copy individuals now it will offer you a great deal of options and you can use the system to in fact look for somebody that you fancy actually following so let’s see perhaps we want someone from united kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everyone who has actually satisfied that requirements and it does give you a danger element as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not mean somebody 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 then you know ask you to confirm are you okay with this and off you go now another method to in fact deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she really 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 understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is great so actually for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s also got a little bit more um of the sort of primary food business and you have actually got you understand pharmaceutical and production business as that. Why Can’t I Close My Position On Etoro.
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