We get htis a lot on our site the answer to Why Does Etoro Ask For Citizenship Status….Concerns that i speak with new financiers what if you’re brand new to investing you merely don’t wish to decide what you really want to invest and you desire someone to do it for you there’s only a number of manner ins which that can happen the first of all you can hire a financial investment portfolio manager they’ll typically charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds particular funds are created 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 a total please keep in mind this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform don’t simply assume due to the fact that i use 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 give that choice also so you in fact get used 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 naturally your capital is at threat this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something since that individual has said they’ve made revenue 14 months in a row invest in these choices due to the fact that you believe is the ideal ones for you and that being said let’s dive straight in [Music] so the important 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 aspect that is most likely.
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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 lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually say i want 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 cash will be mimicked with it so that suggests if for example 10 of their financial investment portfolio remains 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 really crucial you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then may not charge you for in fact buying and selling funds or etfs private 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 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 actually start buying copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with costs really important to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission costs are complimentary however there are a number of other costs the very first one is withdrawal fees so you can certainly put money 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 offer your shares you offer your products 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those options that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you understand depends entirely how you’re investing however that is a cost to keep in mind the second fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing 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 provide me us dollars rather you have to pay their charges now the terrific thing about however when you have actually transformed your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great using that part of their site won’t certainly limit you in any way nevertheless we have to understand two other fees the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you
on is basically the distinction that is part of the financial investment platform in between the buy cost and the list price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that actually suggests that when you want 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 worth of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll find this all over this is another way that they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to give you less back with your sale and you say all right well why does that occur it simply 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 which is how they make a bit of money on those spread out costs it’s typically exceptionally little 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 bit money now the last accomplishment is called an
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overnight cost now this is truly essential if you’re actually utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy offer transaction in the very same day alright there’s then an over night cost 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 actually buying out the etf the stock the product and utilizing time one take advantage of which implies you’re in fact purchasing the exact possession rather than using utilize anyhow you won’t get hit with these charges but these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s say if you go into the aid section this isn’t the overnight fees information you can see exactly the breakdown and it’ll tell you what are the charges what are the charges 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 added fees of course depending upon what you are purchasing as well this is on your own so keep that in mind but complete costs are entirely within their aid info fine and we spoke about along with totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of really utilizing these copy operates they don’t have any additional charges on top of the regular charges that
are there now what you require to remember though is these potentially managed by other people completely or sometimes have created portfolios you’ve got a real individual doing the management you need to ensure you select the individual that’s right for you similar to any kind of work this is your monetary possessions so we absolutely require to make certain it’s the ideal individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a number of various choices for us first off if you’re brand new to investing i wish 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 money that you’re investing you will not need to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are using your own money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real cash maybe this is a great alternative for you once again to evaluate the theories all right you might want to buy tesla or apple or this etf why not use the virtual choice as a method to sort of safe play with it obviously you may have lost out on gains and losses during that time obviously if you had invested your real money it allows you to construct confidence understand the platform so that’s one choice 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 people and copy portfolios now here’s something to bear in mind before you select someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i imply by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just suggests am i alright with potentially losing a great quantity of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose money that’s why they make the figure 75 individuals will lose money but that equally implies they’ll lose at some time in their journey clearly individuals do earn money also and i’ve got videos everything about how you can make certain you are among the people to actually generate income however in this circumstance ensure you research study your risk level would you be all right offering your cash to another person which is successfully what you’re doing and trusting them ensure you understand what they’re buying fully if you’re someone who isn’t wanting to be that risky do not pick someone who’s completely into crypto or currency conversion think of it you ‘d probably want a foundation of strong commodities
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like gold or even oil plus more traditional 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 state you can really use this too truly easily over here you can copy people now it will provide you a great deal of options and you can utilize the system to really search for someone that you expensive really following so let’s see maybe we want somebody from united kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has actually met that requirements and it does give you a risk aspect also so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of people that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to verify are you alright with this and off you go now another way 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 purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got a few of mine in fact that i purchase too which is excellent so actually for me knowing 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 also got a bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production companies as that. Why Does Etoro Ask For Citizenship Status.
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