We get htis a lot on our site the answer to Why Does Etoro Need Your Ni Number….Concerns that i hear from new investors what if you’re brand new to investing you merely do not want to decide what you in fact wish to invest and you want somebody to do it for you there’s just a couple of ways that that can happen the to start with you can employ an investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds particular funds are produced 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 a total please keep in mind this platform is quite advanced you can do cfds which of course 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 discovering please do study the platform do not simply presume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you actually 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 risk this is investing we’re doing you’re purchasing genuine business if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something since that person has actually stated they’ve made revenue 14 months in a row buy these options due to the fact that you think is the ideal ones for you and that being stated let’s dive straight in [Music] The 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 most likely.
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popular for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of options and generally every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved actually crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no charge sites then might not charge you for really buying and selling funds or etfs individual products specific stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges actually crucial to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission fees are complimentary nevertheless there are a couple of other fees the very first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money 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 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply among those options that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends completely how you’re investing however that is a fee to remember the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great 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 perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they really giving 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 fees now the great thing about however when you have actually converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the preliminary 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 charges so that’s truly excellent using that part of their site won’t certainly restrict you in any way nevertheless we need to be aware of 2 other fees the first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread fee as i’m going to show you
on is essentially the distinction that belongs to the investment platform in between the buy cost and the sale price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that really suggests that when you want to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that once again so the present rate of tesla is the value of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of benefit from you whenever you do a buyer’s share so keep that in mind clearly it’s more costly to buy than it is to offer so they’re going to provide you less back with your sale and you say okay well why does that occur 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 want to sell it which is how they make a little bit of cash on those spread costs it’s normally extremely small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit cash now the last task is called an
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overnight cost now this is actually crucial if you’re in fact using cfds yourself also an overnight fee is when you’re not doing that buy offer transaction in the exact same day fine there’s then an over night charge charged or even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which indicates you’re in fact purchasing the precise asset rather than using take advantage of anyhow you will not get hit with these costs but these charges are if you’re utilizing take advantage of and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s say if you enter into the aid area this isn’t the overnight fees info you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which only applies as i stated to cfds there are some additional charges obviously depending on what you are investing in as well this is on your own so keep that in mind but complete costs are totally within their help info fine and we discussed along with free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of in fact utilizing these copy works they don’t have any extra fees on top of the regular costs that
are there now what you require to bear in mind though is these potentially managed by other individuals totally or sometimes have created portfolios you’ve got a real individual doing the management you need to make certain you choose the person that’s right for you similar to any kind of work this is your monetary properties so we definitely need 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 have actually got a number of different choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your credit card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is a great option for you again to check the theories okay you might want to purchase tesla or apple or this etf why not utilize the virtual option as a method to type of safe play with it clearly you might have lost out on gains and losses during that time of course if you had actually invested your real money it allows you to construct self-confidence comprehend the platform so that’s one option for you then next week and i’m going to return 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 remember before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i imply by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just implies am i okay with potentially losing a great amount of this financial investment or gaining as
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well now remember whatever is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose cash however that equally implies they’ll lose at some time in their journey clearly people do earn money also and i have actually got videos all about how you can make certain you’re one of the people to in fact make money however in this circumstance make sure you research your risk level would you be all right providing your cash to another person which is efficiently what you’re doing and trusting them make certain you understand what they’re buying totally if you’re somebody who isn’t wanting to be that dangerous do not choose someone who’s completely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really use this too truly easily over here you can copy people now it will offer you a great deal of options and you can utilize the system to really look for someone that you expensive really following so let’s see possibly we desire somebody from unified kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can find everyone who has actually fulfilled that criteria and it does offer you a danger aspect also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather 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 guarantee 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 validate are you okay with this and off you go now another way to in fact 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 buying 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 excellent to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got some of mine actually that i buy too which is excellent so really for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s also got a little bit more um of the type of main food business and you’ve got you understand pharmaceutical and production companies as that. Why Does Etoro Need Your Ni Number.
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