We get htis a lot on our site the answer to Etoro Change Base Currency….Concerns that i hear from new financiers what if you’re brand new to investing you simply don’t wish to decide what you really wish to invest and you desire someone to do it for you there’s just a couple of ways that that can occur the to start with you can work with an investment portfolio manager they’ll usually charge a quite a high premium to do that possibly one or two 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 also now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t simply presume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you really get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something since that individual has actually said they’ve made profit 14 months in a row purchase these options since you think is the right ones for you and that being stated let’s dive directly 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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well-known for it’s the alternative to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each 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 financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included really vital you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no charge sites then may not charge you for actually buying and selling etfs or funds private commodities individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 know before you in fact start purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs truly essential to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling alright so commission costs are 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’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 in the future but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re offering 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 say alright that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you know depends totally how you’re investing but that is a cost to bear in mind the second charge that i have actually touched upon is that conversion fee now with you’re dealing in 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 anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two open market anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they in fact offering 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 state offer me us dollars rather you need to pay their costs now the fantastic thing about however when you’ve transformed your money you do not need to invest it right now that dollar worth 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 occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent utilizing that part of their site will not definitely limit you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is generally the difference that becomes part of the investment platform in between the buy price and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that actually means that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that once again so the current cost of tesla is the worth of a share what’s called spread costs is the difference then actually 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 expensive to purchase than it is to sell so they’re going to give you less back with your sale and you say okay 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 want to offer it and that is how they make a little bit of money on those spread out fees it’s generally extremely small 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 bit cash now the last accomplishment is called an
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overnight cost now this is actually essential if you’re really utilizing cfds yourself too an over night cost is when you’re refraining from doing that buy sell deal in the same day all right there’s then an overnight cost 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 really buying out the etf the stock the commodity and utilizing time one utilize which implies you’re actually purchasing the specific property rather than utilizing take advantage of anyway you will not get hit with these fees 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 assistance area this isn’t the overnight fees information 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 and that just uses as i stated to cfds there are some surcharges of course depending upon what you are buying as well this is on your own so keep that in mind but full charges are totally within their help information okay and we spoke about along with complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of really using these copy functions they do not have any additional costs on top of the typical fees that
are there now what you need to remember though is these possibly managed by other people totally or sometimes have created portfolios you’ve got a real person doing the management you have to make certain you choose the individual that’s right for you just like any kind of work this is your financial properties so we absolutely 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 utilize this function we have actually got a number of different 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 real cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real money 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 however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash maybe this is a fantastic alternative for you once again to evaluate the theories alright you may wish to purchase tesla or apple or this etf why not use the virtual option as a method to type of safe have fun with it obviously you may have lost out on gains and losses throughout that time obviously if you had actually invested your genuine money it enables you to construct confidence comprehend the platform so that’s one alternative 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 keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i indicate by that clearly 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 risk just implies am i all right with possibly losing an excellent quantity of this financial investment or gaining as
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well now remember whatever is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 people will lose money but that similarly implies they’ll lose eventually in their journey certainly individuals do make money too and i’ve got videos everything about how you can make sure you are among the people to actually make money however in this situation ensure you research your risk level would you be okay offering your money to someone else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re purchasing totally if you’re somebody who isn’t wanting to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely want a foundation 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 state you can actually utilize this too truly easily over here you can copy individuals now it will offer you a lot of choices and you can use the system to actually search for somebody that you fancy really following so let’s see maybe we want somebody from unified kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has satisfied that criteria and it does give you a threat factor too so it tends to be the greater the number the more riskier they are with their stock investing now clearly 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 indicate someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to validate are you alright with this and off you go now another method to in fact 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 purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine actually that i buy too which is good so really for me knowing what i like to invest in 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 chooses she’s likewise got a bit more um of the kind of primary food business and you have actually got you understand pharmaceutical and production companies as that. Etoro Change Base Currency.
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