We get htis a lot on our site the answer to Account Balance To Mirror Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you just do not want to choose what you in fact wish to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can happen the to start with you can work with an investment portfolio supervisor they’ll typically charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds particular 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 as well now if you’re brand new to a total please bear in mind this platform is rather 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 finding out about please do study the platform don’t simply presume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that option too so you really get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real business if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has actually stated they have actually made profit 14 months in a row invest in these options due to the fact that you believe is the best ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
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popular for it’s the choice to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that suggests if for example 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 also cover is the charges involved really vital you understand what are the costs of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero fee sites then might not charge you for in fact buying and selling funds or etfs private products individual stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the costs 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 suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with charges actually crucial to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling fine so commission fees are totally free nevertheless there are a number of other costs the first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you offer your commodities 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 obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply among those options that they have a great deal of platforms certainly are totally 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 know depends completely how you’re investing however that is a fee to keep in mind the second charge that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option 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 anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is standard they have i suppose stuck with 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 fee exists what are they actually offering you in regards to 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 state give me us dollars instead you have to pay their costs now the fantastic thing about though when you have actually converted your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy 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 actually good utilizing that part of their site won’t certainly limit you in any way however we have to understand two other fees the first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is basically the distinction that is part of the investment platform between the buy cost and the price fine 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 really means that when you wish to offer or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present price 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 percentage of make money from you each time you do a buyer’s share so keep that in mind certainly it’s more costly to purchase than it is to offer so they’re going to provide 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 great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread charges it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a little bit money now the last feat is called an
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over night cost now this is really crucial if you’re actually using cfds yourself also an overnight fee is when you’re not doing that buy offer transaction in the same day fine there’s then an over night charge charged and 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 in fact buying out the etf the stock the product and utilizing time one utilize which implies you’re actually purchasing the specific asset instead of utilizing take advantage of anyway you won’t get hit with these costs however these charges are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s state if you go into the assistance area this isn’t the overnight charges details you can see exactly the breakdown and it’ll tell you what are the charges what are the costs 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 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 completely within their assistance details alright and we discussed along with totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 different ways of really using these copy functions they don’t have any extra charges on top of the typical fees that
are there now what you need to keep in mind though is these possibly managed by other individuals totally or sometimes have produced portfolios you’ve got a real individual doing the management you have to make sure you choose the individual that’s right for you just like any profession this is your monetary assets so we absolutely need to make sure it’s the right person for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a couple of different options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t need to put in your credit card details or anything you can basically have this virtual portfolio imitate as if you are using your own cash however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash possibly this is a fantastic option for you again to evaluate the theories all right you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it clearly you may have missed out on gains and losses during that time naturally if you had invested your real cash it allows you to construct self-confidence understand 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 keep in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk profile is now what do i indicate 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 risk simply suggests am i fine with potentially losing a good quantity of this financial investment or getting as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose cash but that equally means they’ll lose at some time in their journey clearly individuals do make money as well and i’ve got videos all about how you can ensure you are among individuals to actually earn money however in this circumstance ensure you research study your risk level would you be all right giving your cash to someone else which is successfully what you’re doing and trusting them ensure you understand what they’re buying completely if you’re someone who isn’t wanting to be that risky don’t select someone who’s entirely 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 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 state you can actually utilize this too actually easily over here you can copy people now it will give you a lot of options and you can utilize the system to in fact search for somebody that you elegant actually following so let’s see perhaps we desire somebody from united kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has actually satisfied that requirements and it does give you a danger factor also so it tends to be the greater the number the more riskier they are with their stock investing now certainly 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 might make 4 or minus 50 there’s no way 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 confirm are you okay with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she really 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 understand ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got a few of mine in fact that i invest in too which is good so actually for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she prefers she’s likewise got a bit more um of the sort of main food business and you’ve got you know pharmaceutical and production companies as that. Account Balance To Mirror Etoro.
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