We get this a lot on our site and the answer to Can Etoro Close My Account….Concerns that i hear from brand-new financiers what if you’re brand new to investing you simply don’t want to choose what you really want to invest and you desire someone to do it for you there’s just a number of manner ins which that can happen the firstly you can hire a financial investment portfolio supervisor they’ll usually charge a quite a high premium to do that maybe one or two percent of your revenues will go to them the other thing is naturally you can buy mutual funds specific 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 as well now if you’re brand new to a total please remember this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform do not simply presume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative also so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash 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 companies if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row buy these options because you think is the best ones for you which being said let’s dive straight in [Music] so 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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popular for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that means if for instance 10 of their financial 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 costs included really crucial you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then may not charge you for actually 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 altering from uk to u.s dollars there’s all sort of fees 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 understand before you actually start purchasing copy trading or copy portfolios and finally some best recommendations finest 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 costs really important to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission costs are complimentary nevertheless there are a number of other charges the very first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends completely how you’re investing however that is a charge to keep in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an option to purchase 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 purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually offering 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 say give me us dollars rather you have to pay their costs now the excellent thing about however when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money 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 charges so that’s actually good using that part of their site won’t certainly limit you in any way however we have to be aware of two other costs the first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is basically the distinction that becomes part of the financial investment platform in between the buy cost and the list price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that actually indicates that when you want to purchase or sell as you can see it’s not the price you’re seeing up here let me show you that again so the existing rate of tesla is the value of a share what’s called spread fees is the difference then actually to buy that share on the platform and you’ll find this all over this is another way that they make a small amount of profit from you each time you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you state fine well why does that occur 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 offer it which is how they make a bit of money on those spread out charges it’s normally extremely small 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 feat is called an
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over night charge now this is truly crucial if you’re actually utilizing cfds yourself also an over night cost is when you’re refraining from doing that buy offer deal in the very same day all right there’s then an over night cost charged or even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one take advantage of which suggests you’re in fact buying the exact property instead of utilizing take advantage of anyhow you will not get hit with these fees but these costs are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s state if you enter into the aid section this isn’t the overnight fees details you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends which only applies as i said to cfds there are some surcharges naturally depending on what you are purchasing too this is on your own so keep that in mind but complete fees are completely within their assistance info alright and we spoke about in addition to totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of in fact using these copy works they don’t have any extra charges on top of the typical fees that
are there now what you need to bear in mind though is these potentially managed by other people totally or in some cases have produced portfolios you’ve got a real individual doing the management you need to make certain you pick the person that’s right for you much like any kind of work this is your monetary properties so we definitely need to make certain it’s the ideal individual for us prior to we copy them so the first things i would call it if you do want to use this function we have actually 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 choice to invest genuine money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your charge card details or anything you can basically have this virtual portfolio imitate as if you are using your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money maybe this is a great alternative for you again to test the theories alright you may wish to purchase tesla or apple or this etf why not utilize the virtual option as a way to sort of safe play with it obviously you might have missed out on gains and losses during that time of course if you had invested your genuine cash it permits you to develop 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 remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i mean by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just means am i alright with possibly losing a good quantity of this investment or acquiring as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 people will lose money however that equally indicates they’ll lose at some time in their journey undoubtedly people do earn money too and i’ve got videos all about how you can ensure you are among the people to really earn money but in this scenario ensure you research your danger level would you be okay providing your money to another person which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing fully if you’re somebody who isn’t wishing to be that dangerous do not choose somebody who’s totally into crypto or currency conversion think about it you ‘d probably desire a foundation of strong commodities
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like gold or perhaps 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 actually easily over here you can copy individuals now it will give you a great deal of options and you can use the system to really look for someone that you elegant in fact following so let’s see perhaps we desire someone from united kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has fulfilled that criteria and it does give you a risk factor also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have quite high returns
remember 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 way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to confirm are you alright 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 investing in 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 good to know ibm paypal yep she’s definitely like sort 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 knowing what i like to buy my individual 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 likewise got a little bit more um of the type of main food business and you have actually got you know pharmaceutical and production companies as that. Can Etoro Close My Account.
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