We get htis a lot on our site the answer to Close Account Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t want to decide what you really want to invest and you desire somebody to do it for you there’s just a number of manner ins which that can take place the first of all you can hire an investment portfolio supervisor they’ll typically charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific funds are produced 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 a total please remember this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you really 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 investing in genuine companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that person has said they have actually made revenue 14 months in a row invest in these options since 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 probably.
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popular for it’s the alternative to see what other traders are doing amazing we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that means if for instance 10 of their financial 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 costs involved truly vital you understand what are the costs of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no fee sites then might not charge you for really buying and selling funds or etfs specific products private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 really begin investing in copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with costs actually essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission fees are totally free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can undoubtedly put cash in now if you’re 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 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 five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just among 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 largely it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing however that is a cost to keep in mind the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’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 perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they really offering 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 state give me us dollars rather you have to pay their charges now the fantastic feature of however when you have actually converted your money you do not need to invest it immediately 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 transform 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 actually great utilizing that part of their site won’t definitely limit you in any way however we need to be aware of 2 other costs the first being what’s called spread costs fine and i’m going to reveal you what i suggest 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 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 website today tesla’s dollar value 599 per share in tesla that actually implies that when you wish to buy or sell as you can see it’s not the rate you’re seeing up here let me show you that once again so the present rate of tesla is the worth of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind certainly it’s more costly to buy 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 happen 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 offer it which is how they make a bit of cash on those spread charges it’s normally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a little bit cash now the last feat is called an
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over night fee now this is truly crucial if you’re in fact utilizing cfds yourself too an overnight fee is when you’re not doing that buy sell deal in the very same day alright there’s then an over night fee charged or perhaps if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which indicates you’re actually purchasing the specific possession instead of utilizing utilize anyway you will not get hit with these costs however these costs are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy offering in the very same day so let’s say if you go into the help 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 fees then for when you’re doing overnight or you’re doing over weekends and that only applies as i said to cfds there are some additional charges obviously depending upon what you are investing in too this is on your own so keep that in mind but full fees are completely within their assistance information all right and we discussed in addition to complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal cost 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 additional charges on top of the normal costs that
are there now what you need to bear in mind though is these potentially managed by other people entirely or in some cases have created portfolios you’ve got a real person doing the management you have to make sure you select the person that’s right for you just like any profession this is your financial assets so we definitely require to make certain it’s the best individual for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a number of various options for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your credit card information or anything you can basically have this virtual portfolio simulate 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 comfy with using your genuine money maybe this is a fantastic choice for you once again to test the theories okay you may wish to purchase tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe play with it clearly you might have missed out on gains and losses throughout that time of course if you had actually invested your genuine cash it permits you to develop 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 really how to copy people and copy portfolios now here’s something to bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i suggest by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply implies am i okay with potentially losing a good amount of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 people will lose money but that similarly means they’ll lose at some point in their journey undoubtedly individuals do generate income also and i have actually got videos everything about how you can make sure you’re one of the people to in fact make money but in this scenario make sure you research your risk level would you be okay giving your cash to another person which is efficiently 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 dangerous don’t pick somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or perhaps 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 actually utilize this too actually quickly over here you can copy people now it will offer you a lot of choices and you can use the system to really look for somebody that you elegant really following so let’s see perhaps we desire somebody from joined kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has actually satisfied that requirements and it does provide you a danger factor too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of individuals that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they might 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 validate are you all right with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she actually buying so let’s enter 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 kind of into those blue box and the tech market she’s got some of mine really that i purchase too which is great so really for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s likewise got a little bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production business as that. Close Account Etoro.
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