We get htis a lot on our site the answer to Setting Up Etoro….Questions that i hear from new investors what if you’re brand new to investing you just don’t want to choose what you actually wish to invest and you desire someone to do it for you there’s only a number of ways that that can happen the to start with you can work with an investment portfolio supervisor they’ll usually charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds particular funds are produced 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 bear in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t just presume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they’ve made profit 14 months in a row buy these options because you believe is the best ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding 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 amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact say 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 buy they offer whatever they do your money will be imitated with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included truly crucial you understand what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then may not charge you for in fact buying and selling funds or etfs individual commodities individual 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 charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you really start investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with charges truly essential to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling alright so commission fees are complimentary however there are a couple of other fees the first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you offer your shares you sell your products 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state 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 someplace and withdrawal costs are simply among those options that they have a great deal of platforms undoubtedly are totally 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 once every 6 months you understand depends totally how you’re investing however that is a fee to keep in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice 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 anyway 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 utilize anybody so if you’re using trading two and 2 open market anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and state offer me us dollars instead you need to pay their fees now the fantastic aspect of though when you’ve converted your money you do not need to invest it right now 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 purchase 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 actually good utilizing that part of their website won’t certainly restrict you in any way however we need to know 2 other costs the first being what’s called spread fees fine and i’m going to reveal you what i imply on now a spread charge as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform in between the buy cost and the list price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that in fact implies that when you want to purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the current price of tesla is the value of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll discover this everywhere this is another manner in which 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 offer so they’re going to give you less back with your sale and you say all right 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 want to offer it which is how they make a little bit of money on those spread fees it’s usually extremely little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit money now the last accomplishment is called an
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overnight fee now this is actually essential if you’re in fact utilizing cfds yourself as well an overnight charge is when you’re not doing that buy offer transaction in the very same day okay there’s then an over night charge 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 really buying out the etf the stock the product and utilizing time one take advantage of which means you’re in fact buying the specific asset rather than using leverage anyway you will not get hit with these charges however these fees are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s state if you enter into the help section this isn’t the overnight charges details 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 just applies as i stated to cfds there are some surcharges obviously depending on what you are purchasing too this is on your own so keep that in mind however complete costs are completely within their aid details alright 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 commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of actually using these copy works they don’t have any additional costs on top of the typical costs that
are there now what you need to bear in mind though is these potentially managed by other people totally or often have actually created portfolios you have actually got a real individual doing the management you need to ensure you select the individual that’s right for you just like any kind of work this is your monetary properties so we absolutely need 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 number of different choices 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 real money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t need to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are using your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money possibly this is a terrific choice for you once again to test the theories fine you may wish to purchase tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe have fun with it clearly you may have lost out on gains and losses throughout that time of course if you had invested your genuine money it allows you to construct confidence comprehend the platform so that’s one option for you then next week and i’m going to return 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 keep in mind prior to you choose somebody 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 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 okay with possibly losing a great amount of this financial investment or acquiring as
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well now remember whatever is ups and downs you will earn money you’ll lose money that’s why they make the figure 75 individuals will lose money however that equally implies they’ll lose eventually in their journey undoubtedly individuals do earn money as well and i’ve got videos everything about how you can ensure you’re one of individuals to really generate income however in this scenario ensure you research your risk level would you be all right providing your money to somebody else which is effectively what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re somebody who isn’t wishing to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion consider 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 same with who you’re following now as i say you can actually use this too actually quickly over here you can copy individuals now it will offer you a great deal of choices and you can utilize the system to actually look for someone that you elegant really following so let’s see maybe we desire somebody from united kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a good quantity and i can find everybody who has actually satisfied that requirements and it does offer you a threat element also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of individuals that have rather high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they could make four 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 know ask you to verify are you alright with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can in fact 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 little bit so that’s excellent to know ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got some of mine really that i buy too which is excellent so actually for me understanding what i like to purchase my specific 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 also got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production companies as that. Setting Up Etoro.
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