We get htis a lot on our site the answer to Why Etoro Ask For Bank Statement….Concerns that i hear from new investors what if you’re brand new to investing you merely do not wish to choose what you really wish to invest and you desire somebody to do it for you there’s only a number of manner ins which that can take place the to start with you can employ an investment portfolio supervisor they’ll typically charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is naturally you can purchase 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 also now if you’re brand new to a total please bear in mind this platform is quite sophisticated you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform do not just presume because 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 option as well so you actually get used to the structure of the website and then 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 purchasing genuine business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we need to bear that in mind do not simply do something because that individual has said they have actually made revenue 14 months in a row invest in these options because you think is the ideal ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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popular for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can really state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included really vital you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real 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 no fee sites then might not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 understand before you actually start investing in copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with charges truly crucial to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling all right so commission fees are totally free nevertheless there are a number of other fees the first one is withdrawal costs so you can undoubtedly put cash in now if you remain 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 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 five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those options that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends totally how you’re investing but that is a cost to bear in mind the second charge that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or 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 using trading 2 and 2 free trade anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they really providing 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 provide me us dollars instead you have to pay their charges now the great aspect of however when you’ve transformed your cash you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means 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 extra fees so that’s really good utilizing that part of their site won’t definitely limit you in any way however we need to understand 2 other charges the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is essentially the distinction that becomes part of the investment platform between the buy cost 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 site today tesla’s dollar value 599 per share in tesla that really implies that when you wish to sell or buy as you can see it’s not the rate you’re seeing up here let me show you that once again so the present price of tesla is the value of a share what’s called spread fees is the distinction then in fact to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of make money from you every time you do a buyer’s share so keep that in mind clearly it’s more expensive to buy than it is to offer so they’re going to provide you less back with your sale and you state okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it and that is how they make a bit of money on those spread costs it’s normally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a little bit money now the last accomplishment is called an
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overnight charge now this is really essential if you’re in fact utilizing cfds yourself too an overnight charge is when you’re refraining from doing that buy offer transaction in the same day alright there’s then an overnight fee charged or even if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one take advantage of which indicates you’re in fact buying the exact property instead of utilizing utilize anyhow you will not get hit with these fees but these costs are if you’re utilizing utilize and cfds and then 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 assistance area this isn’t the over night costs info you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some additional charges naturally depending on what you are investing in also this is on your own so keep that in mind however complete fees are totally within their assistance information all right and we talked about in addition to totally free 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 stated copy trading and copy portfolios are 2 different ways of really using these copy works they don’t have any additional costs on top of the typical charges that
exist now what you need to keep in mind though is these potentially managed by other people completely or often have developed portfolios you’ve got a real individual doing the management you have to make sure you choose the individual that’s right for you similar to any type of work this is your financial properties so we absolutely require to make sure it’s the right person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a number of different alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own money but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money perhaps this is a terrific alternative for you again to evaluate the theories fine you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe play with it undoubtedly you may have missed out on gains and losses during that time naturally if you had invested your real money it permits you to construct confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to keep in mind before you pick 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 undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply implies am i okay with possibly losing an excellent quantity of this investment or gaining as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the fact 75 individuals will lose cash however that equally implies they’ll lose at some point in their journey clearly individuals do generate income too and i’ve got videos everything about how you can ensure you’re one of the people to really earn money however in this circumstance make certain you research study your risk level would you be okay giving your money to another person which is successfully what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re somebody who isn’t wishing to be that dangerous do not pick somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong products
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like gold or even oil plus more conventional 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 state you can in fact utilize this too really easily over here you can copy people now it will give you a great deal of choices and you can use the system to in fact search for someone that you fancy in fact following so let’s see possibly we desire someone from unified kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has actually satisfied that requirements and it does provide you a danger aspect also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of people that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to validate are you alright 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 really deep dive into what is she in fact buying 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 understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is good so really for me understanding what i like to purchase 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 also got a little bit more um of the kind of primary food business and you have actually got you know pharmaceutical and production companies as that. Why Etoro Ask For Bank Statement.
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