We get this a lot on our site and the answer to Ato Tax On Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to choose what you in fact want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can take place the first off you can hire a financial investment portfolio manager they’ll normally charge a quite a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is obviously you can buy mutual funds specific funds are created 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 an overall please bear in mind this platform is quite advanced you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform don’t just presume since i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you really get utilized to the structure of the website and then 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 real companies if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row invest in these choices due to the fact that you think is the right ones for you which being said 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 element that is probably.
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popular for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually state i want to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means 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 fees included actually critical you understand 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 purchasing 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 really buying and selling funds or etfs individual products individual 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 kinds of charges 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 know before you in fact begin purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with fees truly crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling all right so commission charges are free nevertheless there are a number of other charges the very first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you offer your shares you sell 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say alright that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those alternatives that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends totally how you’re investing however that is a fee to remember the second cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that matches me.
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a great deal 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 two and two free trade 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 know if you wish to use their platform go from uk to us then that conversion fee is there 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 haggle with them you can’t go to the bank and say offer me us dollars instead you need to pay their charges now the terrific thing about however when you have actually transformed your cash you do not need to invest it right now that dollar value 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 happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent utilizing that part of their website will not definitely limit you in any way however we have to understand two other fees the very first being what’s called spread fees fine and i’m going to reveal you what i imply on now a spread cost as i’m going to show you
on is generally the distinction that belongs to the investment platform in between the buy price and the price okay 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 really indicates that when you want to offer 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 current price of tesla is the worth of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind certainly it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you state okay well why does that occur 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 and that is how they make a little bit of cash on those spread fees it’s usually extremely small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit money now the last task is called an
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overnight fee now this is truly important if you’re in fact utilizing cfds yourself as well an over night cost is when you’re not doing that buy sell deal in the exact same day fine there’s then an over night fee charged or even if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which implies you’re in fact purchasing the exact property instead of using leverage anyhow you won’t get hit with these charges however these fees are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you go into the help area this isn’t the overnight costs details you can see precisely 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 which just uses as i stated to cfds there are some added fees naturally depending upon what you are purchasing as well this is on your own so keep that in mind but full fees are entirely within their aid information okay and we spoke about along with complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of actually using these copy operates they don’t have any extra fees on top of the normal costs that
are there now what you require to remember though is these potentially managed by other people totally or often have actually created portfolios you’ve got a genuine person doing the management you have to make sure you select the person that’s right for you just like any line of work this is your monetary possessions so we absolutely 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 use this function we have actually got a number of various options for us first of all if you’re brand new to investing i want 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 have fun with and it’s not real cash that you’re investing you won’t need to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are using your own money but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money perhaps this is an excellent option for you again to test the theories okay you might want to purchase tesla or apple or this etf why not use the virtual choice as a method to type of safe play with it obviously you might have missed out on gains and losses throughout that time naturally if you had invested your real money it enables you to construct self-confidence comprehend 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 really how to copy people and copy portfolios now here’s something to bear in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i imply 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 risk just means am i okay with possibly losing an excellent amount of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will earn money you’ll lose money that’s why they make the figure 75 individuals will lose cash but that equally implies they’ll lose eventually in their journey certainly individuals do make money too and i have actually got videos all about how you can make certain you’re one of the people to really make money however in this scenario make sure you research your threat level would you be alright giving your money to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that risky do not select somebody who’s totally into crypto or currency conversion think about it you ‘d probably desire a foundation of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really use this too actually quickly over here you can copy people now it will give you a lot of choices and you can use the system to actually look for somebody that you fancy actually following so let’s see perhaps we desire someone from joined kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a good amount and i can find everybody who has actually satisfied that criteria and it does provide you a danger element too 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 rather high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance 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 fine with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she really 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 know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine really that i purchase too which is good so really for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s likewise got a little bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production business as that. Ato Tax On Etoro.
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