We get this a lot on our site and the answer to Can Etoro Close My Trade….Questions that i speak with brand-new investors what if you’re brand new to investing you just do not wish to decide what you really wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can take place the to start with you can work with a financial investment portfolio manager they’ll usually 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 produced 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 of course cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform don’t simply presume because 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 give that choice too so you actually get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real business if you choose to in this specific video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row invest in these options due to the fact that you believe is the best ones for you and that being said let’s dive directly 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 aspect that is most likely.
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popular for it’s the option to see what other traders are doing extraordinary we do not typically 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 cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included truly crucial you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no fee websites then might not charge you for really buying and selling funds or etfs specific products individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 know before you in fact begin investing in copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges really crucial to comprehend these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission charges are complimentary nevertheless there are a couple of other costs the very first one is withdrawal costs so you can obviously put cash 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 later however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those options that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you understand depends totally how you’re investing but that is a charge to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and 2 free trade anybody this is basic they have i expect 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 is there what are they really giving 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 provide me us dollars rather you need to pay their charges now the terrific feature of however when you’ve converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent using that part of their site won’t certainly limit you in any way nevertheless we have to know two other costs the first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is generally the difference that is part of the investment platform between the buy rate and the list price alright 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 worth 599 per share in tesla that in fact means that when you want 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 rate of tesla is the value of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of make money from you whenever you do a purchaser’s share so keep that in mind obviously it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you say fine well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it and that is how they make a little bit of cash on those spread out charges it’s generally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a bit cash now the last task is called an
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overnight charge now this is truly important if you’re in fact utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy offer transaction in the same day alright there’s then an overnight cost 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 really buying out the etf the stock the product and utilizing time one utilize which means you’re actually purchasing the exact property instead of utilizing utilize anyhow you won’t get hit with these fees but these charges are if you’re utilizing leverage 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 go into the assistance area 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 over night or you’re doing over weekends and that just applies as i stated to cfds there are some added fees obviously depending on what you are investing in too this is on your own so keep that in mind however complete charges are completely within their assistance details alright and we talked about along with totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of in fact utilizing these copy operates they do not have any additional charges on top of the normal costs that
exist now what you need to bear in mind though is these possibly handled by other individuals totally or sometimes have actually created portfolios you’ve got a genuine individual doing the management you need to make certain you choose the individual that’s right for you similar to any kind of work this is your financial properties so we absolutely require to ensure it’s the right 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’ve got a number of different 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 cash 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 charge card information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash perhaps this is a great choice for you again to evaluate the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual option as a way to sort of safe play with it obviously you may have lost out on gains and losses throughout that time obviously if you had actually invested your genuine money it enables you to develop 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 choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i mean by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just suggests am i fine with possibly losing a great amount of this investment or acquiring as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 people will lose money but that equally implies they’ll lose at some point in their journey obviously people do generate income too and i have actually got videos everything about how you can make certain you’re one of individuals to in fact generate income however in this circumstance ensure you research your danger level would you be okay offering your cash to somebody else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re buying completely if you’re someone who isn’t wishing to be that dangerous don’t pick somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong commodities
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like gold or perhaps oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually use this too really quickly over here you can copy individuals now it will provide you a great deal of options and you can use the system to actually look for someone that you elegant really following so let’s see perhaps we desire someone from united kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has satisfied that criteria and it does offer you a risk factor as well 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 rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to verify are you okay with this and off you go now another way to actually deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she in fact buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine really that i purchase too which is good so actually for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the type of primary food business and you’ve got you know pharmaceutical and production companies as that. Can Etoro Close My Trade.
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