We get this a lot on our site and the answer to Can I See My Etoro Account In Pounds….Questions that i hear from brand-new financiers what if you’re brand new to investing you simply don’t wish to decide what you really want to invest and you desire someone to do it for you there’s just a couple of ways that that can take place the firstly you can hire an investment portfolio manager they’ll normally charge a rather a high premium to do that possibly one or two percent of your earnings will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 a total please keep in mind this platform is quite sophisticated you can do cfds which of course cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice too so you really 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 buying real companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your money so clearly your capital is at risk and we need to bear that in mind do not simply do something since that person has said they have actually made revenue 14 months in a row buy these choices because you think is the ideal ones for you and that being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending 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 choice to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other advantage 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 specific portfolio of options and basically every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included truly crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no fee sites then might not charge you for actually buying and selling etfs or funds private products individual stocks.
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there’ll be fees 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 charges with in particular in this video the next would be things to know prior to you actually start purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with charges really essential to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling all right so commission charges are free however there are a number of other fees 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 immediately 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 offer your commodities 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 of course understanding that i’m going to make sure that i’m just withdrawing when i definitely 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 have to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms obviously 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 entirely how you’re investing however that is a cost to keep in mind the 2nd fee that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and two open market anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact providing you in terms of 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 provide me us dollars instead you need to pay their costs now the great feature of though when you have actually converted your money you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates 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 fees so that’s really great utilizing that part of their site will not certainly limit you in any way nevertheless we have to understand two other costs the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is generally the difference that becomes part of the financial investment platform in between the buy rate and the list price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that in fact means that when you want to offer or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the current cost of tesla is the value of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll discover this everywhere 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 obviously it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference in 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 fees it’s normally extremely little it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a little bit cash now the last feat is called an
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overnight charge now this is actually crucial if you’re really using cfds yourself too an over night fee is when you’re refraining from doing that buy offer transaction in the exact same day okay there’s then an over night cost charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which means you’re actually purchasing the specific possession rather than utilizing leverage anyhow you will not get hit with these fees but these charges 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 charges details you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that just uses as i said to cfds there are some service charges naturally depending on what you are purchasing also this is on your own so keep that in mind but full fees are completely within their assistance info fine and we talked about as well as free to deposit in but there’s a 5 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 cost now another thing to call it as i have actually stated copy trading and copy portfolios are two various methods of actually using these copy functions they do not have any additional fees on top of the regular fees that
are there now what you need to remember though is these potentially managed by other people completely or often have actually created portfolios you have actually got a real person doing the management you have to make certain you select the person that’s right for you much like any profession this is your monetary properties so we absolutely need 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 wish to utilize this function we have actually got a number of different options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require to put in your charge card details or anything you can generally have this virtual portfolio mimic as if you are using your own money however really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real money perhaps this is a fantastic alternative for you again to test the theories okay you may want 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 clearly you might have missed out on gains and losses throughout that time of course if you had actually invested your real cash it allows you to construct self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to bear in mind before you select someone 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 undoubtedly 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 simply suggests am i fine with potentially losing a good amount of this investment or gaining 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 fact 75 people will lose money but that equally means they’ll lose at some time in their journey undoubtedly people do generate income also and i’ve got videos everything about how you can make sure you are among individuals to actually earn money but in this circumstance make sure you research your risk level would you be okay giving your money to another person which is successfully what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous do not choose someone who’s completely into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold or even oil plus more traditional 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 really utilize this too actually quickly over here you can copy individuals now it will give you a lot of options and you can utilize the system to really search for somebody that you fancy really following so let’s see maybe we desire somebody from united kingdom um who invests in 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 everybody who has actually fulfilled that requirements and it does offer you a danger aspect also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no 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 confirm are you okay with this and off you go now another method 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 buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine really that i invest in too which is good so in fact for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got a good 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’ve got you know pharmaceutical and production business as that. Can I See My Etoro Account In Pounds.
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