We get this a lot on our site and the answer to Etoro Conversion Fees….Questions that i hear from new financiers what if you’re brand new to investing you merely do not wish to decide what you actually 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 off you can hire a financial investment portfolio manager they’ll usually charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds particular funds are created once 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 also now if you’re brand new to a total please keep in mind this platform is rather advanced you can do cfds which naturally cfds are ways 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 due to the fact that 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 alternative too so you actually get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually said they’ve made earnings 14 months in a row buy these options because you think is the best 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 element that is most likely.
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famous for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests if for example 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 likewise cover is the fees involved really important you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the buying 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 in fact buying and selling etfs or funds private products individual stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 really start purchasing copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with charges actually crucial to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling fine so commission fees are totally free nevertheless there are a number of other fees the very first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer 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 five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say alright 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 fees are simply among those options that they have a lot of platforms clearly are totally 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 know depends completely how you’re investing however that is a charge to remember the 2nd fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great 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 2 open market anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they actually giving 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 offer me us dollars rather you have to pay their charges now the excellent thing about however when you have actually converted your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial 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 extra charges so that’s actually excellent using that part of their site won’t definitely restrict you in any way nevertheless we need to know 2 other costs the first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you
on is basically the difference that belongs to the financial investment platform between the buy rate and the sale price fine it’s their premium on doing both those two 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 really suggests that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing rate of tesla is the worth of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll find this everywhere 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 obviously it’s more expensive to buy than it is to sell so they’re going to provide you less back with your sale and you state okay well why does that occur it just 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 little bit of cash on those spread fees it’s typically incredibly small 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 bit money now the last feat is called an
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over night fee now this is truly crucial if you’re actually using cfds yourself also an over night cost is when you’re refraining from doing that buy sell transaction in the very same day okay there’s then an overnight charge charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which indicates you’re really buying the exact asset instead of utilizing take advantage of anyhow you won’t get hit with these charges but 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 very same day so let’s state if you enter into the assistance area this isn’t the overnight charges information 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 over night or you’re doing over weekends and that just uses as i stated to cfds there are some additional charges obviously depending upon what you are purchasing as well this is on your own so keep that in mind however complete costs are completely within their help info alright and we spoke about in addition to totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of really utilizing these copy works they do not have any additional charges on top of the regular charges that
are there now what you require to bear in mind though is these potentially handled by other people totally or often have actually developed portfolios you’ve got a genuine person doing the management you have to make certain you select the person that’s right for you similar to any kind of work this is your financial possessions so we definitely 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 want to utilize this function we’ve got a couple of different choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your credit card information or anything you can generally have this virtual portfolio imitate as if you are using your own cash however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money possibly this is a great alternative for you once again to test the theories all right you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it clearly you might have lost out on gains and losses throughout that time obviously if you had invested your real money it enables 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 real portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to bear in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i indicate 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 just implies am i alright with possibly losing a good amount of this investment or acquiring as
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well now remember everything is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 individuals will lose money but that similarly indicates they’ll lose eventually in their journey undoubtedly people do generate income too and i’ve got videos everything about how you can make certain you are among the people to really generate income but in this circumstance make certain you research your threat level would you be all right offering your cash to someone else which is effectively what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re someone who isn’t wanting to be that dangerous don’t select somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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like gold or perhaps oil plus more conventional 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 say you can really use this too really quickly over here you can copy people now it will give you a great deal of options and you can utilize the system to actually look for somebody that you fancy in fact following so let’s see perhaps we want somebody from unified kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a good amount and i can find everyone who has satisfied that criteria and it does provide you a risk element also 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
bear in mind it’s like anything to do with the news or forecasts 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 ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to confirm are you alright with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine in fact that i purchase too which is excellent 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 great spread in tech companies that appears to be what she chooses she’s likewise got a little bit more um of the type of primary food companies and you’ve got you know pharmaceutical and production companies as that. Etoro Conversion Fees.
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