We get this a lot on our site and the answer to Etoro Dummy Account….Concerns that i speak with new investors what if you’re brand new to investing you just do not want to decide what you in fact want to invest and you desire someone to do it for you there’s just a number of manner ins which that can occur the first off you can work with a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific funds are produced 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 remember this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform don’t just assume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option too so you actually 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 genuine companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something because that individual has stated they have actually made revenue 14 months in a row buy these options due to the fact that you believe is the ideal ones for you and that being said 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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famous for it’s the option to see what other traders are doing amazing we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of options and basically every time they make a trade they buy they offer whatever they do your money will be imitated 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 cash in so we’re going to likewise cover is the costs included really critical you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge websites then may not charge you for actually buying and selling etfs or funds individual 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 sort 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 before you in fact begin purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges really crucial to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling okay so commission costs are free nevertheless there are a number of other charges the very first one is withdrawal charges so you can obviously put cash 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 wish to withdraw your money so you offer your shares you sell 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those alternatives 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 mostly it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing however that is a charge to bear in mind the second fee that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that fits me.
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a lot 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 charge now when you utilize anybody so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they really 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 offer me us dollars instead you need to pay their costs now the excellent thing about however when you have actually converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good utilizing that part of their website won’t certainly limit you in any way however we need to know 2 other fees the first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is essentially the distinction that belongs to the investment platform in between the buy cost and the sale price fine 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 worth 599 per share in tesla that really implies that when you want to purchase or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current price of tesla is the worth of a share what’s called spread charges is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind obviously it’s more expensive to purchase than it is to offer so they’re going to give you less back with your sale and you state fine well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a little bit of money on those spread charges it’s generally incredibly little it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a little bit money now the last feat is called an
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overnight charge now this is really essential if you’re actually utilizing cfds yourself too an over night cost is when you’re not doing that buy sell deal in the same day all right there’s then an over night fee charged or even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one utilize which implies you’re really buying the exact possession rather than utilizing utilize anyhow you won’t get hit with these costs but these charges are if you’re utilizing utilize 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 aid section this isn’t the overnight fees info you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just applies as i said to cfds there are some additional charges of course depending on what you are purchasing also this is on your own so keep that in mind but full costs are completely within their help info all right and we spoke about along with complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of in fact utilizing these copy works they do not have any extra fees on top of the typical costs that
are there now what you need to keep in mind though is these potentially managed by other people completely or sometimes have created portfolios you have actually got a real person doing the management you have to make sure you select the person that’s right for you much like any kind of work this is your monetary assets so we definitely require to make sure 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’ve got a couple of various alternatives for us firstly 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 methods 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 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 but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is a fantastic option for you once again to test the theories fine you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it certainly you may have lost out on gains and losses throughout that time of course if you had actually invested your real money it enables you to build confidence understand the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to keep in mind prior to you select 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 suggest 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 means am i all right with potentially losing a great amount of this financial investment or getting as
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well now keep in mind everything is downs and ups you will generate income you’ll lose cash that’s why they make the figure 75 people will lose cash but that similarly indicates they’ll lose at some time in their journey obviously people do generate income as well and i have actually got videos all about how you can make sure you are among the people to in fact generate income but in this scenario ensure you research your risk level would you be okay providing your cash to someone else which is effectively what you’re doing and trusting them make sure you understand what they’re buying completely if you’re somebody who isn’t wishing to be that dangerous don’t choose somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can in fact utilize this too really easily over here you can copy individuals now it will give you a lot of options and you can utilize the system to actually search for somebody that you elegant really following so let’s see possibly we want somebody from joined kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has fulfilled that criteria and it does provide 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 certainly there are a variety of individuals that have quite 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 might make four or minus 50 there’s no chance 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 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 really 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 kind of into those blue box and the tech market she’s got some of mine in fact that i purchase too which is great so actually for me understanding 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 also got a bit more um of the kind of main food companies and you’ve got you understand pharmaceutical and production business as that. Etoro Dummy Account.
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