We get this a lot on our site and the answer to Does Etoro Allow Day Trading….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t want to choose what you really want to invest and you want someone to do it for you there’s only a number of ways that that can occur the first of all you can hire an investment portfolio manager they’ll usually charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 also now if you’re brand new to an overall please bear in mind this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform do not just assume since i utilize it that you can use 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 in fact get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has actually said they have actually made profit 14 months in a row purchase these choices due to the fact that you believe is the best ones for you which being said 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 probably.
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well-known for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really say i wish to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included truly vital 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 absolutely no cost websites then may not charge you for actually buying and selling funds or etfs individual commodities 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 kinds of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with charges truly important to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling alright so commission costs are complimentary however there are a number of other charges the very first one is withdrawal costs so you can clearly put money 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 on however when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might 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 fees are just one of those options that they have a great deal of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great 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 good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and 2 free trade anyone at all this is basic they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they actually providing you in regards to 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 rather you have to pay their costs now the great thing about however when you have actually converted your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good utilizing that part of their website won’t certainly restrict you in any way however we need to understand 2 other costs the very first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you
on is generally the distinction that belongs to 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 value 599 per share in tesla that actually suggests that when you wish to purchase or offer as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present price of tesla is the value of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of benefit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you say all right well why does that occur it simply does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it which is how they make a bit of cash on those spread out fees 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 once again make a little bit cash now the last accomplishment is called an
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overnight cost now this is really essential if you’re really using cfds yourself as well an overnight fee is when you’re not doing that buy offer transaction in the same day okay there’s then an overnight cost charged and even if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one take advantage of which implies you’re in fact buying the precise asset instead of utilizing take advantage of anyway you will not get hit with these fees but these costs are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s state if you enter into the assistance section this isn’t the overnight charges details you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that only uses as i stated to cfds there are some service charges naturally depending on what you are purchasing too this is on your own so keep that in mind but complete costs are entirely within their assistance information fine and we talked about as well as totally 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’ve said copy trading and copy portfolios are 2 various ways of actually utilizing these copy functions they don’t have any extra charges on top of the normal fees that
are there now what you require to bear in mind though is these possibly managed by other people entirely or sometimes have developed portfolios you have actually got a genuine person doing the management you have to make sure you select the person that’s right for you similar to any profession this is your financial properties so we definitely need to make certain it’s the best individual 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 number of different choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual ways i think 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 charge card information or anything you can basically have this virtual portfolio simulate as if you are using your own cash however in fact purchase 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 an excellent alternative for you again to evaluate the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe play with it obviously you might have lost out on gains and losses throughout that time obviously if you had invested your real cash it permits you to build self-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 remember before you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i mean by that certainly 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 simply suggests am i alright with possibly losing an excellent amount of this investment or getting as
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well now remember whatever is ups and downs you will make money you’ll lose money that’s why they make the figure 75 individuals will lose cash but that similarly suggests they’ll lose at some time in their journey certainly individuals do make money also and i have actually got videos all about how you can ensure you are among individuals to in fact generate income however in this circumstance make certain you research study your danger level would you be alright offering your cash to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re someone who isn’t wishing to be that risky do not choose someone who’s totally into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more standard etfs and index funds you might 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 really use this too really easily over here you can copy individuals now it will provide you a lot of options and you can utilize the system to actually search for somebody that you fancy actually following so let’s see perhaps we want somebody from united kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everybody who has fulfilled that criteria and it does give you a danger element as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of people that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not mean someone 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 basic as clicking the copy button and off you go and after that you know ask you to validate are you alright with this and off you go now another way to actually 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 purchasing 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 understand ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is great so really for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she chooses she’s likewise got a little bit more um of the type of main food companies and you’ve got you know pharmaceutical and production business as that. Does Etoro Allow Day Trading.
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