We get htis a lot on our site the answer to Etoro Says My Bank Account Is Already Used….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply do not want to decide what you in fact want to invest and you desire somebody to do it for you there’s just a number of ways that that can happen the first off you can work with a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds particular funds are produced 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 as well now if you’re brand new to an overall please bear in mind this platform is quite 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 discovering please do study the platform don’t just presume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you in fact get utilized 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 threat this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has said they have actually made earnings 14 months in a row purchase these choices due to the fact that you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
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famous for it’s the choice to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i wish to do exactly what that trader is doing or match that precise 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 implies if for instance 10 of their 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 involved truly important you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine 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 no fee sites then might not charge you for actually buying and selling etfs or funds specific commodities specific stocks.
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there’ll be fees on other parts maybe 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 reveal you the fees with in particular in this video the next would be things to understand prior to you in fact start buying copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges truly important to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling all right so commission charges are complimentary however there are a number of other fees the very first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk money.
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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 offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere 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 mainly it can be maybe even once a year when every 6 months you know depends completely how you’re investing but that is a cost to bear in mind the second cost that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’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 purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of need 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 really 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 instead you have to pay their fees now the terrific aspect of though when you’ve transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really great using that part of their website won’t certainly restrict you in any way nevertheless we need to know two other fees the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you
on is basically the difference that belongs to the investment platform in between the buy price 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 right now tesla’s dollar worth 599 per share in tesla that really indicates that when you want to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present cost of tesla is the value of a share what’s called spread charges is the distinction then in fact to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of profit from you whenever you do a buyer’s share so keep that in mind certainly it’s more expensive 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 simply 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 wish to offer it and that is how they make a little bit of cash on those spread charges it’s usually extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a little bit money now the last task is called an
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over night fee now this is really crucial if you’re in fact utilizing cfds yourself too an overnight fee is when you’re not doing that buy offer deal in the very same day fine there’s then an over night fee charged or even if you go from the friday to the monday prior to cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one utilize which means you’re actually buying the exact possession rather than utilizing take advantage of anyhow you will not get hit with these charges however these fees are if you’re using utilize and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s say if you go into the aid section this isn’t the over night charges info you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that only applies as i stated to cfds there are some added fees of course depending upon what you are investing in too this is on your own so keep that in mind however full charges are entirely within their help info all right and we talked about along with free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 various ways of actually using these copy operates they don’t have any extra costs on top of the regular charges that
exist now what you need to remember though is these possibly managed by other individuals completely or sometimes have developed portfolios you’ve got a real person doing the management you need to make sure you select the person that’s right for you similar to any type of work this is your financial possessions so we absolutely require to ensure it’s the right individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a number of different choices for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual ways i believe 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 however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash perhaps this is a terrific choice for you again to evaluate the theories alright you might wish to buy tesla or apple or this etf why not use the virtual alternative as a way to type of safe play with it obviously you may have missed out on gains and losses throughout that time of course if you had actually invested your genuine cash it allows you to construct self-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 actually 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 make certain you understand what your danger profile is now what do i mean 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 indicates am i okay with potentially losing a great quantity of this investment or acquiring 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 fact 75 individuals will lose cash but that similarly suggests they’ll lose at some point in their journey undoubtedly individuals do make money as well and i have actually got videos all about how you can make certain you are among the people to in fact earn money but in this circumstance make certain you research your danger level would you be alright giving your money to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying completely if you’re someone who isn’t wishing to be that risky don’t choose someone who’s completely into crypto or currency conversion consider it you ‘d probably desire a foundation 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 very same with who you’re following now as i state you can really use this too truly easily over here you can copy individuals now it will give you a lot of options and you can use the system to really search for somebody that you fancy really following so let’s see perhaps we want somebody from unified kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a great quantity and i can find everybody who has actually fulfilled that criteria and it does offer you a danger factor as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
bear in mind it resembles 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 could 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 confirm are you alright with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really purchasing 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 excellent to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is excellent so in fact for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a bit more um of the sort of primary food companies and you have actually got you understand pharmaceutical and production companies as that. Etoro Says My Bank Account Is Already Used.
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