We get this a lot on our site and the answer to Can Etoro Close My Position….Questions that i hear from new financiers what if you’re brand new to investing you simply don’t wish to choose what you really want to invest and you want someone to do it for you there’s only a number of ways that that can happen the to start with you can hire an investment portfolio manager they’ll generally charge a rather a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 as well now if you’re brand new to an overall please bear in mind this platform is rather innovative you can do cfds which naturally cfds are ways 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 assume since i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you really get utilized 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 obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re talking about 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 individual has stated they’ve made revenue 14 months in a row purchase these choices since you believe is the right ones for you and that being said let’s dive directly 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’s part of social trading which is one element that is probably.
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famous for it’s the option to see what other traders are doing unbelievable 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 indicates with our money we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests if for instance 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 also cover is the charges included truly important you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no fee sites then may not charge you for actually buying and selling funds or etfs 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 charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you in fact begin buying copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs actually crucial to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling fine so commission fees are free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can obviously 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 however when you wish to withdraw your money 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 five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state all right that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply one of those alternatives that they have a lot of platforms certainly are 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 six months you know depends entirely how you’re investing but that is a cost to keep in mind the second fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’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 purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 free trade anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion fee 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 haggle with them you can’t go to the bank and state provide me us dollars rather you need to pay their fees now the excellent aspect of however when you’ve converted your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their site will not definitely restrict you in any way nevertheless we have to understand two other costs the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread fee as i’m going to show you
on is generally the difference that belongs to the investment platform in between the buy cost and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really implies that when you want to buy or sell as you can see it’s not the rate you’re seeing up here let me show you that again so the present cost of tesla is the worth of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of benefit from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more costly 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 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 offer it which is how they make a bit of money on those spread charges it’s usually incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit money now the last accomplishment is called an
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over night cost now this is truly important if you’re in fact using cfds yourself also an overnight cost is when you’re refraining from doing that buy sell transaction in the exact same day okay there’s then an over night fee charged and even if you go from the friday to the monday prior to sailing 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 leverage which means you’re in fact purchasing the specific possession rather than utilizing leverage anyway you won’t get hit with these charges however these costs are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s say if you enter into the assistance section this isn’t the over night charges info you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just applies as i stated to cfds there are some surcharges of course depending upon what you are buying too this is on your own so keep that in mind however full charges are entirely within their help details fine and we spoke about in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of really utilizing these copy functions they do not have any additional charges on top of the regular charges that
exist now what you need to bear in mind though is these potentially handled by other people entirely or sometimes have actually developed portfolios you have actually got a real person doing the management you have to make sure you choose the individual that’s right for you much like any profession this is your monetary properties so we absolutely require to make certain it’s the best person for us before we copy them so the first things i would call it if you do want to utilize this function we have actually 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 alternative to invest real money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your charge card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine money maybe this is a terrific choice 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 have fun with it certainly you might have missed out on gains and losses during that time of course if you had invested your genuine money it allows you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to remember prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i suggest by that obviously 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 just suggests am i fine with potentially losing an excellent amount of this investment or getting as
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well now remember whatever is downs and ups you will make money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that equally indicates they’ll lose at some point in their journey obviously individuals do make money too and i’ve got videos all about how you can make sure you are among the people to in fact generate income however in this circumstance make sure you research study your threat level would you be all right offering your cash to another person which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing fully if you’re someone who isn’t wishing to be that dangerous do not select somebody who’s entirely into crypto or currency conversion think of it you ‘d probably desire a backbone of strong products
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like gold or perhaps oil plus more traditional 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 state you can really use this too truly easily over here you can copy individuals now it will give you a great deal of choices and you can utilize the system to really search for someone that you fancy really following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everybody who has fulfilled that requirements and it does offer you a risk aspect too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or forecasts 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 basic as clicking the copy button and off you go and then you understand ask you to confirm are you all right with this and off you go now another method to actually deep dive if we click this person for example ruby mza as an example you can actually 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 understand ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is great so actually for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production companies as that. Can Etoro Close My Position.
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