We get this a lot on our site and the answer to Can Etoro Trade Dogecoin….Concerns that i hear from new financiers what if you’re brand new to investing you simply don’t wish to decide what you in fact wish to invest and you want someone to do it for you there’s only a couple of manner ins which that can happen the to start with you can work with an investment portfolio supervisor they’ll normally charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is of course you can purchase mutual funds specific funds are created 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 too now if you’re brand new to an overall please keep in mind this platform is rather sophisticated you can do cfds which obviously cfds are methods of investing
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with not in fact 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 use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you actually get utilized to the structure of the site 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 danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has stated they have actually made earnings 14 months in a row buy these choices since you believe is the best ones for you and that being stated let’s dive directly 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 incredible we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that indicates 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 involved really vital you understand what are the costs of this now with any platform there will be some cost to clearly 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 no cost sites then may not charge you for in fact buying and selling etfs or funds specific products private 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 type of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with fees really crucial to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling alright so commission fees are complimentary nevertheless there are a number of other charges the very first one is withdrawal fees 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 in the future however when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you may say okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply one of those choices that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you know depends completely how you’re investing but that is a fee to keep in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two free trade anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering you in terms of 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 offer me us dollars instead you have to pay their costs now the great feature of though when you have actually transformed your cash you do not have to invest it right away 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 transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really great using that part of their website won’t definitely limit you in any way however we need to know 2 other costs the first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread cost as i’m going to show you
on is essentially the difference that is part of the financial investment platform between the buy cost and the list price alright 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 value 599 per share in tesla that really 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 reveal you that again so the present price of tesla is the value of a share what’s called spread costs is the distinction then really 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 each time you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to offer so they’re going to provide you less back with your sale and you say all right well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to offer it which is how they make a bit of cash on those spread costs it’s generally incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit money now the last accomplishment is called an
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overnight cost now this is really important if you’re really utilizing cfds yourself as well an overnight cost is when you’re refraining from doing that buy offer transaction in the exact same day alright there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which means you’re in fact purchasing the specific asset rather than utilizing leverage anyway you will not get hit with these costs however these costs are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s say if you go into the aid area this isn’t the overnight fees 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 and that just uses as i stated to cfds there are some surcharges obviously depending on what you are investing in as well this is on your own so keep that in mind but full charges are completely within their aid information all right and we spoke about along with 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 everything there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of in fact using these copy works they do not have any additional costs on top of the normal costs that
exist now what you need to bear in mind though is these possibly handled by other people completely or in some cases have developed portfolios you’ve got a real person doing the management you have to make sure you choose the person that’s right for you just like any kind of work this is your monetary assets so we absolutely require to make sure it’s the best person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a number of different options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash 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 won’t require to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is an excellent choice for you once again to check the theories alright you might want to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it obviously you may have lost out on gains and losses during that time naturally if you had actually invested your real money it allows you to construct confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to remember prior to you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i indicate by that clearly 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 just implies am i fine with potentially losing an excellent quantity of this financial investment or gaining as
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well now remember everything is downs and ups you will earn money you’ll lose money that’s why they make the figure 75 individuals will lose money however that equally means they’ll lose eventually in their journey certainly people do make money as well and i’ve got videos everything about how you can ensure you are among the people to in fact make money however in this scenario make sure you research study your threat level would you be all right providing your money to somebody else which is effectively what you’re doing and trusting them make certain you comprehend what they’re purchasing totally if you’re somebody who isn’t wanting to be that dangerous don’t pick somebody who’s totally into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact utilize this too really quickly over here you can copy people now it will offer you a lot of options and you can use the system to in fact search for somebody that you fancy really following so let’s see possibly we want someone from joined kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has actually satisfied that criteria and it does provide you a danger aspect too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly 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 indicate somebody 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 basic as clicking the copy button and off you go and after that you know ask you to verify are you alright with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can actually 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 bit so that’s good to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is great so really for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s also got a little bit more um of the type of main food companies and you have actually got you know pharmaceutical and production companies as that. Can Etoro Trade Dogecoin.
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