We get htis a lot on our site the answer to Etoro Income Tax….Questions that i hear from new investors what if you’re brand new to investing you simply don’t wish to decide what you in fact want to invest and you desire someone to do it for you there’s only a number of manner ins which that can happen the firstly you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds specific funds are created once 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 an overall please bear in mind this platform is quite advanced you can do cfds which naturally cfds are ways 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 assume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative also so you actually get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made profit 14 months in a row buy these options because you believe is the right ones for you which 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 aspect that is probably.
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popular for it’s the choice to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really important you understand 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 buying the selling for you there’s going to be charges included and even a few of the no charge sites then may not charge you for actually buying and selling etfs or funds individual commodities specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 start buying copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with costs really crucial to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission charges are free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can obviously put cash 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 however when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course 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 pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms certainly are totally 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 when every 6 months you know depends totally how you’re investing but that is a fee to keep in mind the second cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two free trade anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact 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 offer me us dollars rather you have to pay their fees now the excellent aspect of though when you’ve transformed your cash you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their website won’t definitely limit you in any way nevertheless we have to know two other fees the very first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is essentially the distinction that becomes part of the investment platform in 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 site right now tesla’s dollar value 599 per share in tesla that really means that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me show you that once again so the present cost 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 way that they make a percentage of make money from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you state fine 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 offer it which is how they make a little bit of cash on those spread fees it’s typically exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit cash now the last feat is called an
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overnight cost now this is actually important if you’re actually using cfds yourself also an over night charge is when you’re refraining from doing that buy offer deal in the very same day okay there’s then an overnight fee 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 really buying out the etf the stock the product and utilizing time one leverage which implies you’re really buying the precise asset instead of using utilize anyhow you won’t get hit with these charges however these costs are if you’re using utilize and cfds and after that 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 assistance area this isn’t the overnight costs details 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 over night or you’re doing over weekends and that only uses as i said to cfds there are some service charges of course depending on what you are purchasing too this is on your own so keep that in mind however complete charges are entirely within their assistance information alright and we talked about along with free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of actually utilizing these copy works they do not have any extra fees on top of the regular charges that
exist now what you require to keep in mind though is these possibly handled by other individuals entirely or sometimes have created portfolios you have actually got a genuine individual doing the management you need to ensure you choose the person that’s right for you just like any kind of work this is your financial properties so we absolutely require to make sure it’s the right individual for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a number of different options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine 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 cash that you’re investing you won’t require to put in your credit card information 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 using your genuine money perhaps this is a great choice for you once again to test the theories alright you may wish to buy tesla or apple or this etf why not use the virtual choice as a method to type of safe have fun with it certainly you might have lost out on gains and losses throughout that time naturally if you had actually invested your real money it allows you to build self-confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to bear in mind before you select someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i indicate by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply indicates am i okay with possibly losing a good amount 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 fact 75 people will lose cash however that similarly suggests they’ll lose at some point in their journey obviously individuals do make money also and i have actually got videos all about how you can ensure you’re one of individuals to actually generate income however in this scenario make sure you research study your risk level would you be fine giving your money to someone else which is effectively what you’re doing and trusting them make sure you understand what they’re buying fully if you’re someone who isn’t wishing to be that risky do not choose someone who’s totally into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can really use this too truly easily over here you can copy people now it will offer you a lot of choices and you can utilize the system to actually look for someone that you expensive in fact following so let’s see perhaps we desire somebody from unified kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can discover everyone who has satisfied that requirements and it does provide you a risk aspect also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to confirm are you alright with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she actually purchasing 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 good to understand ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is great so actually 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 business that appears to be what she chooses she’s likewise got a bit more um of the kind of main food companies and you’ve got you know pharmaceutical and production companies as that. Etoro Income Tax.
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