We get htis a lot on our site the answer to Ireland Tax Reference Number Etoro….Questions that i speak with brand-new investors what if you’re brand new to investing you simply do not wish to decide what you actually wish to invest and you desire somebody to do it for you there’s only a number of ways that that can occur the first off you can work with a financial investment portfolio manager they’ll usually charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are produced 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 as well now if you’re brand new to a total please remember this platform is quite innovative you can do cfds which naturally cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you actually get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something because that person has actually said they have actually made earnings 14 months in a row purchase these choices since you think 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
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famous for it’s the option to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really say i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for example 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 also cover is the costs involved really crucial you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 zero fee websites then may not charge you for in fact buying and selling etfs or funds specific commodities specific stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to understand prior to you really start buying copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges actually important to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling all right so commission fees are complimentary however there are a couple of other fees the very first one is withdrawal charges 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 immediately 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 offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may state all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply among those choices that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a charge to keep in mind the second charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice 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 anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact giving 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 provide me us dollars rather you have to pay their costs now the terrific aspect of however when you have actually converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates 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 additional fees so that’s really excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we need to understand 2 other charges the first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you
on is basically the distinction 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 website today tesla’s dollar worth 599 per share in tesla that actually means 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 existing price of tesla is the worth of a share what’s called spread charges is the difference then really to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of make money from you whenever you do a buyer’s share so keep that in mind certainly it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you say alright well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to sell it which is how they make a bit of cash on those spread out costs it’s generally extremely little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit cash now the last task is called an
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overnight charge now this is truly essential if you’re in fact using cfds yourself too an over night cost is when you’re refraining from doing that buy offer transaction in the exact same day all right there’s then an overnight cost charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which indicates you’re actually buying the specific possession instead of utilizing utilize anyway you will not get hit with these charges however these charges are if you’re utilizing utilize and cfds and then you’re going to have these fees if you’re not buy selling in the exact same day so let’s state if you enter into the aid area this isn’t the over night costs info you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just applies as i said to cfds there are some surcharges obviously depending upon what you are purchasing also this is on your own so keep that in mind however complete fees are entirely within their help information all right and we spoke about as well as complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two various methods of actually using these copy operates they do not have any extra fees on top of the regular charges that
are there now what you require to bear in mind though is these possibly managed by other people completely or in some cases have created portfolios you have actually got a genuine person 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 possessions so we definitely require to ensure it’s the ideal individual for us prior to 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 alternatives for us first off 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 methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can generally have this virtual portfolio imitate as if you are using your own cash however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is a fantastic option for you once again to evaluate the theories okay you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to type of safe play with it certainly you may have lost out on gains and losses throughout that time of course if you had invested your real money it permits you to build 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 actually how to copy individuals and copy portfolios now here’s something to remember before you select someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i imply by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply suggests am i okay with possibly losing a good amount of this investment or acquiring as
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well now keep in mind everything is ups and downs you will make money you’ll lose money that’s why they make the fact 75 individuals will lose money however that equally indicates they’ll lose at some point in their journey obviously people do generate income too and i have actually got videos everything about how you can make certain you’re one of the people to in fact generate income but in this situation make sure you research study your risk level would you be all right giving your money to someone else which is efficiently what you’re doing and trusting them ensure you understand what they’re buying totally if you’re someone who isn’t wishing to be that dangerous don’t pick somebody who’s entirely into crypto or currency conversion consider it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually utilize this too truly easily over here you can copy individuals now it will provide you a great deal of choices and you can utilize the system to really search for someone that you elegant really following so let’s see possibly we desire someone from unified kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has fulfilled that requirements and it does offer you a risk element as well 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 individuals that have rather high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not mean somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to confirm are you okay with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she actually 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 great to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got a few of mine really that i invest in too which is good so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she chooses she’s also got a bit more um of the sort of main food business and you have actually got you understand pharmaceutical and production business as that. Ireland Tax Reference Number Etoro.
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