We get htis a lot on our site the answer to Wire Transfer Etoro….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t want to decide what you actually want to invest and you desire somebody to do it for you there’s only a number of manner ins which that can happen the to start with you can hire an investment portfolio manager they’ll generally charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is obviously you can purchase mutual funds specific funds are produced 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 rather sophisticated 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 finding out about please do study the platform don’t 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 choice too so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that person has stated they have actually made profit 14 months in a row purchase these options because you believe 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 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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famous for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other benefit 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 choices and generally each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for instance 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 likewise cover is the charges involved actually important you understand what are the costs of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then might not charge you for really buying and selling etfs or funds specific commodities specific stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 understand before you in fact start purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees truly crucial to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling fine so commission costs are free however there are a couple of other costs the first one is withdrawal costs so you can undoubtedly put money in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may state all right that’s quite 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 charges are just among those alternatives that they have a lot of platforms certainly are totally 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 when every six months you know depends totally how you’re investing however that is a fee to remember the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they really giving you in terms of 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 have to pay their costs now the excellent thing about however when you’ve converted 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 suggests 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 truly good utilizing that part of their website won’t definitely restrict you in any way however we need to know 2 other costs the first being what’s called spread fees alright and i’m going to show you what i imply on now a spread charge as i’m going to show you
on is generally the difference that is part of the financial investment platform between the buy cost and the list price alright 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 in fact means that when you want to offer or buy as you can see it’s not the price you’re seeing up here let me show you that again so the existing cost of tesla is the value of a share what’s called spread fees is the distinction then in fact to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of profit from you every time you do a buyer’s share so keep that in mind obviously it’s more expensive to purchase than it is to offer so they’re going to offer you less back with your sale and you say all right well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to sell it and that is how they make a bit of cash on those spread out fees it’s normally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a bit cash now the last accomplishment is called an
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overnight charge now this is really important if you’re actually using cfds yourself also an overnight cost is when you’re not doing that buy offer deal in the same day okay there’s then an overnight fee charged and even if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one leverage which suggests you’re really purchasing the specific property rather than using take advantage of anyhow you won’t get hit with these charges but these charges are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you enter into the assistance section this isn’t the overnight 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 only uses as i stated to cfds there are some added fees naturally depending on what you are purchasing too this is on your own so keep that in mind but complete costs are entirely within their assistance info okay and we talked about along with complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of in fact using these copy works they do not have any extra costs on top of the regular charges that
exist now what you require to keep in mind though is these potentially handled by other people totally or often have created portfolios you’ve got a genuine individual doing the management you need to make sure you choose the person that’s right for you much like any line of work this is your financial properties so we absolutely need to ensure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of various alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your charge card details or anything you can essentially have this virtual portfolio imitate as if you are using your own cash but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash perhaps this is an excellent choice for you once again to evaluate the theories alright you might wish to buy tesla or apple or this etf why not use the virtual choice as a way to sort of safe have fun with it obviously you may have missed out on gains and losses throughout that time of course if you had invested your real money it allows you to build self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i mean by that obviously 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 run the risk of just implies am i all right with possibly losing a great amount of this financial investment or getting as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the fact 75 people will lose cash however that equally implies they’ll lose at some point in their journey undoubtedly people do make money too and i’ve got videos all about how you can make sure you’re one of the people to in fact earn money however in this circumstance ensure you research your risk level would you be fine offering your cash to another person which is efficiently what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re someone who isn’t wishing to be that risky don’t choose someone who’s completely into crypto or currency conversion think of it you ‘d probably want a backbone of strong products
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like gold or even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can actually utilize this too truly easily over here you can copy individuals now it will give you a great deal of options and you can use the system to actually look for someone that you elegant really following so let’s see maybe we desire somebody from unified kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds a great amount and i can find everybody who has actually satisfied that criteria and it does provide you a danger aspect 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 variety of people that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to confirm are you all right with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she in fact buying so let’s enter 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 kind of into those blue box and the tech market she’s got a few of mine really that i invest in too which is good so actually for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s likewise got a little bit more um of the kind of main food business and you have actually got you understand pharmaceutical and production business as that. Wire Transfer Etoro.
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