We get htis a lot on our site the answer to Etoro Close Account….Questions that i speak with brand-new investors what if you’re brand new to investing you just do not want to choose what you really wish to invest and you want someone to do it for you there’s just a couple of ways that that can take place the firstly you can hire an investment portfolio manager they’ll normally charge a quite a high premium to do that perhaps one or two percent of your earnings 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 too now if you’re brand new to an overall please keep 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 actually having the total of capital so with anything that you’re learning more about please do study the platform don’t simply assume because i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you in fact get used 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 risk this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so clearly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually stated they have actually made revenue 14 months in a row purchase these options since you believe is the ideal ones for you which 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 element that is probably.
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well-known for it’s the choice to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually state i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that means if for example 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 also cover is the costs included actually critical you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine 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 zero fee websites then might not charge you for really buying and selling etfs or funds specific commodities individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 understand prior to you in fact begin buying copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with costs truly important to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling alright so commission charges are free however there are a couple of other fees the very first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you offer your shares you sell 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 obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every 6 months you understand depends entirely how you’re investing however that is a charge to bear in mind the 2nd charge that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two free trade anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they in fact 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 state provide me us dollars rather you have to pay their costs now the excellent thing about though when you’ve converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good using that part of their site will not definitely restrict you in any way however we need to understand two other charges the first being what’s called spread fees okay and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is essentially the difference that belongs to the financial investment platform between the buy price and the list price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that actually means that when you want to purchase or offer as you can see it’s not the cost 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 difference then in fact to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind obviously 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 okay well why does that occur it just does that is the nature of a great deal 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 little bit of money on those spread out fees it’s normally extremely little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit money now the last accomplishment is called an
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over night cost now this is truly essential if you’re in fact using cfds yourself as well an over night charge is when you’re not doing that buy offer deal in the same day all right there’s then an overnight fee charged and even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which implies you’re actually purchasing the exact property instead of using leverage anyway you won’t get hit with these fees but these fees 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 exact same day so let’s say if you enter into the aid area this isn’t the overnight costs information you can see precisely 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 surcharges naturally depending on what you are buying too this is on your own so keep that in mind however complete costs are totally within their help info fine and we talked about in addition to free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of in fact using these copy functions they do not have any additional fees on top of the normal charges that
are there now what you need to keep in mind though is these possibly handled by other individuals entirely or often have developed portfolios you’ve got a genuine individual doing the management you have to make sure you choose the person that’s right for you just like any line of work this is your monetary assets so we absolutely require to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of different options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to play 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 generally have this virtual portfolio simulate as if you are using your own cash but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine cash perhaps this is a terrific alternative for you again to evaluate the theories okay you may wish to buy tesla or apple or this etf why not use the virtual alternative as a way to type of safe have fun with it undoubtedly you might have missed out on gains and losses throughout that time naturally if you had actually invested your genuine cash it permits you to build self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive really 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 ensure you comprehend what your danger profile is now what do i mean 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 run the risk of simply suggests am i alright with possibly losing a great quantity of this investment or gaining as
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well now keep in mind everything is downs and ups you will earn money you’ll lose money that’s why they make the figure 75 individuals will lose money however that equally means they’ll lose at some point in their journey obviously people do make money as well and i have actually got videos all about how you can ensure you’re one of individuals to actually make money however in this situation make sure you research study your threat level would you be alright providing your cash to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re buying fully if you’re somebody who isn’t wishing to be that dangerous do not choose somebody who’s totally into crypto or currency conversion consider it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually use this too truly quickly over here you can copy individuals now it will give you a great deal of options and you can use the system to really search for somebody that you fancy really following so let’s see perhaps we desire somebody from joined kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everybody who has satisfied that criteria and it does provide you a risk factor too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to validate are you fine with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she really purchasing 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 good to know ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got a few of mine really that i purchase too which is great so in fact for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s also got a bit more um of the kind of main food business and you’ve got you understand pharmaceutical and production business as that. Etoro Close Account.
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