We get this a lot on our site and the answer to Does Etoro Accept Debit Cards….Concerns that i speak with new financiers what if you’re brand new to investing you just don’t want to decide what you actually want to invest and you want someone to do it for you there’s only a couple of manner ins which that can take place the to start with you can work with a financial investment portfolio manager they’ll generally charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is obviously you can purchase mutual funds particular funds are created again with an account manager 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 sophisticated 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 discovering please do study the platform don’t just presume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that option also so you actually get used 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 purchasing real companies if you pick 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 stated they’ve made profit 14 months in a row purchase these options since you think is the ideal ones for you which being stated let’s dive straight 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 element that is most likely.
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famous for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a great deal 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 precisely what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests 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 fees included truly important you understand what are the expenses of this now with any platform there will be some expense to obviously these are real business 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 fee sites then might not charge you for actually buying and selling etfs or funds individual products specific stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering 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 in fact begin investing in copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges truly crucial to understand these now on there’s a number of fees there isn’t costs to do with really buying and selling alright so commission charges are totally free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly put money in now if you remain 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 but when you wish to withdraw your money so you sell 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 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those alternatives that they have a lot of platforms certainly are 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 as soon as every six months you understand depends completely how you’re investing but that is a cost to remember the second cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option 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 and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and two open market anyone at all this is standard they have i expect stuck to whatever cost 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 fee exists what are they really 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 provide me us dollars instead you have to pay their fees now the terrific thing about though when you have actually converted your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 costs so that’s truly great utilizing that part of their site will not definitely restrict you in any way nevertheless we have to know 2 other charges the very first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread charge as i’m going to show you
on is basically the distinction that becomes part of the investment platform in between the buy cost 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 right now tesla’s dollar value 599 per share in tesla that actually indicates that when you want to buy or sell as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present rate of tesla is the worth of a share what’s called spread fees is the difference then really to buy that share on the platform and you’ll discover this all over this is another way that they make a small amount of profit from you every time you do a purchaser’s share so keep that in mind clearly 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 state all right well why does that happen it just 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 want to sell it and that is how they make a little bit of money on those spread fees it’s generally exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a bit cash now the last feat is called an
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over night cost now this is really important if you’re actually using cfds yourself also an overnight fee is when you’re refraining from doing that buy sell transaction in the very same day fine there’s then an over night cost charged and even if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which implies you’re in fact buying the precise asset instead of utilizing leverage anyway you will not get hit with these fees but these charges are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you go into the aid section this isn’t the over night charges information you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only uses as i stated to cfds there are some added fees of course depending upon what you are purchasing also this is on your own so keep that in mind but complete fees are completely within their assistance details fine and we spoke about along with free to deposit in however 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 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of in fact utilizing these copy works they don’t have any additional costs on top of the regular fees that
are there now what you require to keep in mind though is these potentially handled by other people entirely or in some cases have actually developed portfolios you’ve got a genuine person doing the management you need to ensure you choose the person that’s right for you much like any kind of work this is your financial assets so we absolutely need to make certain it’s the best person for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of different alternatives for us firstly 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 require to put in your charge card details or anything you can basically have this virtual portfolio simulate as if you are utilizing your own money however really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine money perhaps this is a great option for you again to test the theories all right you may wish to purchase tesla or apple or this etf why not use the virtual alternative as a method to kind of safe play with it undoubtedly you might have missed out on gains and losses throughout that time obviously if you had invested your real cash it permits you to construct 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 actually how to copy people 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 ensure you understand what your danger profile is now what do i mean by that obviously 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 implies am i okay with potentially losing an excellent amount of this financial investment or getting as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the fact 75 individuals will lose money but that equally indicates they’ll lose at some time in their journey certainly individuals do generate income too and i’ve got videos all about how you can make sure you are among the people to really make money but in this situation make sure you research your danger level would you be okay providing your money to somebody else which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous don’t choose someone who’s completely into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong commodities
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like gold or even oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really use this too really easily over here you can copy individuals now it will give you a lot of options and you can use the system to in fact look for somebody that you fancy actually following so let’s see perhaps we want someone from joined kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has met that criteria and it does give you a risk element 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 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 suggest somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to validate are you alright with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can actually 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 little bit so that’s great to know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine actually that i buy too which is great so actually for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s also got a little bit more um of the sort of main food business and you’ve got you know pharmaceutical and production companies as that. Does Etoro Accept Debit Cards.
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