We get this a lot on our site and the answer to Etoro Wallet Faq….Questions that i hear from brand-new financiers what if you’re brand new to investing you merely don’t wish to choose what you actually want to invest and you want somebody to do it for you there’s just a couple of ways that that can happen the firstly you can work with a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds particular 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 a total please remember this platform is quite sophisticated you can do cfds which naturally cfds are ways of investing
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with not actually 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 utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you in fact get used to the structure of the site and then when you’re ready to utilize your own money 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 investing in real companies if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row buy these choices because you think is the right ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
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popular for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can in fact say 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 mimicked with it so that means 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 likewise cover is the costs included truly critical you understand what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then might not charge you for in fact buying and selling funds or etfs individual commodities private stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with fees really crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling fine so commission fees are complimentary nevertheless there are a number of other costs the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you sell your commodities 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 ensure that i’m only withdrawing when i absolutely require to now you may state all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply among those choices that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends completely how you’re investing however that is a fee to bear in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent 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 free trade anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they really giving 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 state provide me us dollars instead you have to pay their costs now the fantastic aspect of however when you’ve transformed your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their site won’t certainly restrict you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread fees all right and i’m going to show you what i mean on now a spread cost as i’m going to show you
on is generally the difference that is part of the financial investment platform between the buy cost and the price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that actually suggests that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that again so the current rate of tesla is the value of a share what’s called spread charges is the distinction then actually to buy that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of make money 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 offer you less back with your sale and you state okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to sell it and that is how they make a little bit of cash on those spread fees it’s generally incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a little bit money now the last task is called an
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over night charge now this is really essential if you’re really utilizing cfds yourself also an overnight fee is when you’re not doing that buy offer transaction in the very same day okay there’s then an over night cost charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which indicates you’re in fact purchasing the precise asset instead of utilizing utilize anyhow you will not get hit with these costs however these charges are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you go into the aid section this isn’t the overnight charges details you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only uses as i stated to cfds there are some additional charges naturally depending upon what you are investing in too this is on your own so keep that in mind however complete charges are entirely within their assistance details okay and we talked 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 normal commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of actually utilizing these copy works they do not have any extra fees on top of the normal costs that
exist now what you require to bear in mind though is these possibly managed by other people totally or sometimes have produced portfolios you’ve got a genuine person doing the management you have to make sure you pick the individual that’s right for you just like any profession this is your financial properties so we absolutely need to make certain 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 use this function we have actually got a couple of various choices for us to start with 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 think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not 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 but really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is an excellent alternative for you again to test the theories okay you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe have fun with it certainly you may have missed out on gains and losses throughout that time obviously if you had invested your real money it permits you to develop self-confidence comprehend the platform so that’s one option 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 keep in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy make certain 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 financial investments the riskier you can be run the risk of just means am i okay with possibly losing a great quantity of this investment or gaining as
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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose money however that similarly indicates they’ll lose eventually in their journey certainly individuals do earn money as well and i’ve got videos everything about how you can make certain you are among individuals to actually earn money but in this situation make sure you research your danger level would you be all right giving your cash to someone else which is successfully what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re someone who isn’t wanting to be that dangerous do not pick somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually utilize this too actually easily over here you can copy people now it will offer you a great deal of choices and you can use the system to in fact search for someone that you elegant really following so let’s see perhaps we want somebody from unified kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everybody who has met that requirements and it does offer you a danger element too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they might make four 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 after that 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 in fact deep dive into what is she really investing in so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got a few of mine really that i purchase too which is good so actually for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the type of main food companies and you have actually got you know pharmaceutical and production companies as that. Etoro Wallet Faq.
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