We get htis a lot on our site the answer to Cost Of Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply don’t wish to decide what you actually wish to invest and you want somebody to do it for you there’s just a couple of manner ins which that can happen the firstly you can work with a financial 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 of course you can buy mutual funds particular funds are created 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 too 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 ways of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice also so you really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made profit 14 months in a row purchase these options since you believe is the best ones for you and that being said let’s dive straight in [Music] The 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 element that is most likely.
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famous for it’s the alternative to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that implies if for example 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 likewise cover is the fees involved really vital you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then might not charge you for really buying and selling etfs or funds individual products private stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees really important to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling all right so commission costs are complimentary however there are a couple of other costs the very first one is withdrawal costs so you can certainly put money in now if you’re 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 later on however when you want to withdraw your money so you sell 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 understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply one of those choices that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you know depends totally how you’re investing but that is a cost to remember the second fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase 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 fee now when you use anyone so if you’re using trading two and 2 free trade anyone at all this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of need 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 giving 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 costs now the fantastic aspect of though when you have actually converted your cash you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 great using that part of their site will not certainly restrict you in any way however we have to understand 2 other costs the first being what’s called spread charges fine and i’m going to show you what i imply on now a spread fee as i’m going to reveal you
on is essentially the difference that is part of the investment platform between the buy cost and the price alright it’s their premium on doing both those 2 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 want to sell or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the current price of tesla is the worth of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll find this all over this is another manner in which they make a percentage of make money from you each time you do a buyer’s share so keep that in mind clearly it’s more pricey 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 just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a little bit of cash on those spread fees it’s usually exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit money now the last accomplishment is called an
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overnight charge now this is really important if you’re really using cfds yourself as well an overnight charge is when you’re refraining from doing that buy sell deal in the very same day fine there’s then an overnight cost charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which suggests you’re in fact buying the exact possession rather than using leverage anyway you will not get hit with these costs but these costs are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s state if you go into the assistance area this isn’t the overnight costs info you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which only applies as i stated to cfds there are some service charges obviously depending on what you are purchasing too this is on your own so keep that in mind but complete charges are entirely within their help information fine and we talked about in addition to complimentary 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 stated copy trading and copy portfolios are two various methods of actually using these copy operates 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 possibly managed by other people completely or in some cases have developed portfolios you’ve got a real person doing the management you have to make certain you select the individual that’s right for you much like any line of work this is your monetary assets so we definitely require to ensure it’s the best person 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 choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash maybe this is a terrific alternative for you once again to test the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a method to sort of safe have fun with it clearly you might have lost out on gains and losses during that time obviously if you had actually invested your real cash it enables you to construct confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to keep in mind prior to 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 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 means am i fine with possibly losing an excellent amount of this investment or acquiring 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 figure 75 people will lose cash but that equally means they’ll lose at some point in their journey certainly people do earn money too and i have actually got videos all about how you can make sure you’re one of individuals to really earn money but in this situation ensure you research your threat level would you be all right offering your money to another person which is effectively what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re someone who isn’t wishing to be that risky don’t select somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong commodities
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like gold and even oil plus more standard 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 really utilize this too truly quickly over here you can copy people now it will offer you a great deal of choices and you can utilize the system to actually look for someone that you fancy really following so let’s see maybe we desire someone from united kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has satisfied that requirements and it does provide you a danger element too 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 quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make 4 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 after that you know ask you to verify are you alright with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she actually investing in so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is excellent so in fact for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s likewise got a little bit more um of the sort of main food business and you have actually got you know pharmaceutical and production business as that. Cost Of Etoro.
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