We get htis a lot on our site the answer to Etoro Transaction Costs….Questions that i speak with new financiers what if you’re brand new to investing you just don’t wish to choose what you in fact wish to invest and you desire somebody to do it for you there’s just a couple of manner ins which that can happen the firstly you can hire a financial investment portfolio manager they’ll normally 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 purchase 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 an overall please remember this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform do not simply assume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you in fact get utilized to the structure of the site and after that when you’re ready to use your own money 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 genuine business if you pick to in this specific video we’re talking about how to copy other people’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something because that individual has actually said they’ve made earnings 14 months in a row invest in these choices 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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famous for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that indicates if for instance 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 charges involved actually important you comprehend what are the costs of this now with any platform there will be some cost 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 a few of the zero fee websites then might not charge you for really buying and selling funds or etfs individual commodities specific 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 sort 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 understand before you really begin buying copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges really essential to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission costs are complimentary however there are a number of other costs the first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell your shares you sell your commodities 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 ensure that i’m just withdrawing when i definitely require to now you might say alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just one of those choices that they have a great deal of platforms clearly 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 once every 6 months you understand depends totally how you’re investing however that is a charge to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase 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 or 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 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 know if you want to use their platform go from uk to us then that conversion fee exists what are they actually providing you in regards to 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 give me us dollars rather you need to pay their charges now the fantastic aspect of however when you have actually converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good using that part of their website won’t certainly limit you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you
on is generally the distinction that belongs to the financial investment platform in between the buy cost and the sale price fine 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 worth 599 per share in tesla that really suggests that when you wish to purchase or offer as you can see it’s not the price you’re seeing up here let me reveal you that again so the existing price of tesla is the value of a share what’s called spread costs is the distinction then really 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 obviously it’s more expensive to buy than it is to sell so they’re going to provide you less back with your sale and you state all right well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread out charges it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a little bit cash now the last task is called an
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overnight charge now this is actually essential if you’re actually using cfds yourself also an overnight fee is when you’re refraining from doing that buy offer transaction in the exact same day all right there’s then an overnight fee charged or even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which means you’re actually purchasing the specific possession rather than using leverage anyway you won’t get hit with these charges however these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the very same day so let’s state if you enter into the help section this isn’t the over night costs information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that just applies as i said to cfds there are some service charges obviously depending upon what you are investing in too this is on your own so keep that in mind however complete fees are completely within their aid info all right and we discussed in addition to complimentary 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 whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of actually using these copy operates they do not have any additional fees on top of the typical charges that
exist now what you require to remember though is these potentially handled by other individuals entirely or in some cases have produced portfolios you’ve got a genuine individual doing the management you have to make sure you pick the individual that’s right for you much like any profession this is your monetary properties so we definitely require to ensure it’s the best individual for us before we copy them so the first things i would call it if you do want to use this function we’ve got a couple of various choices for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the option 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 money that you’re investing you will not require to put in your charge card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money possibly this is a great alternative for you again to test the theories all right you might wish to purchase tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it clearly you may have lost out on gains and losses during that time of course if you had actually invested your genuine cash it allows you to develop confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real 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 prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i imply by that certainly 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 means am i fine with potentially losing an excellent quantity of this financial investment or gaining as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money but that similarly indicates they’ll lose eventually in their journey certainly people do generate income also and i’ve got videos everything about how you can make sure you’re one of the people to really make money but in this scenario make sure you research study your risk level would you be all right providing your money to someone else which is successfully what you’re doing and trusting them make certain you understand what they’re buying totally if you’re someone who isn’t wishing to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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like gold or even oil plus more traditional etfs and index funds you might 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 in fact utilize this too actually quickly over here you can copy individuals now it will provide you a great deal of choices and you can utilize the system to actually search for somebody that you expensive really following so let’s see maybe we want somebody from unified 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 quantity and i can find everyone who has fulfilled that criteria and it does give you a danger element also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to confirm are you okay 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 really purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is good so really for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the sort of primary food business and you have actually got you understand pharmaceutical and production companies as that. Etoro Transaction Costs.
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