We get this a lot on our site and the answer to Can You Be A Professional Etoro Trader….Concerns that i hear from brand-new investors what if you’re brand new to investing you simply don’t wish to choose what you in fact want to invest and you desire somebody to do it for you there’s just a number of ways that that can happen the first off you can employ a financial investment portfolio manager they’ll generally charge a rather a high premium to do that perhaps a couple of 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 also now if you’re brand new to a total please bear in mind this platform is rather sophisticated you can do cfds which naturally cfds are ways 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 don’t just presume due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you really get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually said they have actually made earnings 14 months in a row invest in these options because you believe is the right ones for you and that being stated 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 probably.
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popular for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates if for example 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 also cover is the fees involved actually important you understand what are the costs of this now with any platform there will be some cost to clearly these are real 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 fee sites then may not charge you for really buying and selling funds or etfs specific commodities specific stocks.
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there’ll be fees on other parts maybe 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 show you the charges with in particular in this video the next would be things to understand prior to you in fact start purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees truly essential to understand these now on there’s a number of fees there isn’t costs to do with really buying and selling fine so commission fees are free nevertheless there are a number of other charges the first one is withdrawal costs so you can undoubtedly put cash in now if you remain 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 later on however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just among those choices that they have a great deal 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 as soon as every 6 months you understand depends totally how you’re investing but that is a charge to remember the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and 2 open market anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually 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 state provide me us dollars rather you have to pay their costs now the great thing about though when you’ve transformed your cash 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 means the initial day that you purchase or transform 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 great using that part of their website won’t definitely limit you in any way nevertheless we have to understand 2 other charges the first being what’s called spread costs fine and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is basically the difference that belongs to the financial investment platform 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 website today tesla’s dollar worth 599 per share in tesla that actually implies that when you want to sell or buy as you can see it’s not the price you’re seeing up here let me reveal you that again so the current rate of tesla is the worth 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 benefit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more expensive to purchase than it is to offer so they’re going to provide you less back with your sale and you say alright well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to offer it and that is how they make a bit of money on those spread out costs it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a bit cash now the last accomplishment is called an
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over night charge now this is truly important if you’re really using cfds yourself also an over night charge is when you’re not doing that buy sell deal in the very same day all right there’s then an over night fee charged and even if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which suggests you’re actually buying the exact possession instead of using take advantage of anyhow you will not get hit with these charges however these fees are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s say 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 overnight or you’re doing over weekends which only uses as i stated to cfds there are some added fees obviously depending upon what you are investing in also this is on your own so keep that in mind but full fees are totally within their help details fine and we spoke about in addition to complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 various ways of actually utilizing these copy operates they don’t have any additional charges on top of the typical costs that
exist now what you need to remember though is these potentially handled by other individuals totally or in some cases have produced portfolios you’ve got a real person doing the management you need to make certain you choose the person that’s right for you similar to any profession this is your monetary assets so we definitely require to make certain it’s the right 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 couple of different alternatives for us first off 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 play with and it’s not real cash that you’re investing you won’t need to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own money but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine money possibly this is a great choice for you again to check the theories fine you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe have fun with it certainly you may have missed out on gains and losses during that time naturally if you had actually invested your real cash it allows you to construct confidence understand the platform so that’s one alternative for you then next week and i’m going to go back 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 remember prior to you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i imply by that undoubtedly 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 simply suggests am i okay with potentially losing an excellent quantity of this financial investment or acquiring as
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well now remember everything is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money however that equally indicates they’ll lose eventually in their journey obviously people do generate income also and i have actually got videos all about how you can make sure you are among the people to in fact make money but in this situation ensure you research study your threat level would you be alright providing your money to somebody else which is successfully what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous do not choose someone who’s totally into crypto or currency conversion consider it you ‘d probably desire a backbone of strong products
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like gold or even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually utilize this too actually quickly over here you can copy people now it will provide you a lot of options and you can use the system to in fact look for somebody that you fancy really following so let’s see maybe we desire someone from unified kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everyone who has actually satisfied that requirements and it does give you a threat factor as well so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they might make four 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 understand ask you to confirm are you alright with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she in fact purchasing 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 good to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine really that i buy too which is great so really for me knowing what i like to invest in my private 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 also got a little bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production companies as that. Can You Be A Professional Etoro Trader.
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