We get this a lot on our site and the answer to Etoro Wallet Vs Etoro….Concerns that i hear from brand-new investors what if you’re brand new to investing you merely don’t wish to decide what you in fact wish to invest and you want somebody to do it for you there’s only a couple of ways that that can happen the to start with you can hire a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is of course you can purchase 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 too now if you’re brand new to an overall please remember this platform is rather innovative you can do cfds which obviously cfds are ways 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 do not simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row invest in these choices due to the fact that you think is the ideal ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect 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 generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your money 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 cash in so we’re going to also cover is the costs involved truly vital you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine 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 no charge websites then might not charge you for in fact buying and selling etfs or funds specific commodities specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 know before you in fact start purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges really crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling all right so commission costs are free nevertheless there are a number of other charges the first one is withdrawal costs so you can undoubtedly put cash in now if you’re 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 later on however when you wish to withdraw your money 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state okay that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those choices that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a charge to keep in mind the 2nd fee that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they in fact providing you in regards to 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 offer me us dollars rather you need to pay their fees now the excellent thing about though when you’ve converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the initial 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 really excellent utilizing that part of their website will not certainly restrict you in any way nevertheless we have to understand 2 other charges the very first being what’s called spread charges fine and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is essentially the difference that becomes part of the investment platform in between the buy rate and the price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really indicates that when you wish to offer or purchase as you can see it’s not the rate you’re seeing up here let me show you that again so the existing price of tesla is the worth of a share what’s called spread charges is the distinction then actually to purchase 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 whenever you do a buyer’s share so keep that in mind clearly it’s more costly to buy than it is to offer so they’re going to offer you less back with your sale and you say okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you wish to offer it and that is how they make a bit of money on those spread fees it’s typically incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a little bit money now the last task is called an
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overnight cost now this is truly essential if you’re really utilizing cfds yourself also an overnight fee is when you’re refraining from doing that buy sell transaction in the exact same day okay there’s then an overnight charge charged and 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 actually buying out the etf the stock the commodity and using time one take advantage of which suggests you’re actually buying the precise asset rather than using leverage anyhow you will not get hit with these costs however these fees are if you’re using utilize and cfds and then 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 help 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 overnight or you’re doing over weekends and that only applies as i said to cfds there are some service charges obviously depending upon what you are buying too this is on your own so keep that in mind but complete costs are completely within their help details fine and we discussed in addition to free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of in fact utilizing these copy functions they do not have any extra costs on top of the regular charges that
are there now what you require to remember though is these possibly managed by other people entirely or in some cases have actually developed portfolios you’ve got a real individual doing the management you have to make certain you choose the individual that’s right for you much like any line of work this is your monetary assets so we definitely need to make sure 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 utilize this function we have actually got a couple of various options 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 methods i think 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 credit card information or anything you can generally have this virtual portfolio imitate as if you are utilizing your own cash however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash maybe this is an excellent alternative for you again to test the theories all right you may want to buy tesla or apple or this etf why not use the virtual alternative as a way to sort of safe have fun with it undoubtedly you may have missed out on gains and losses during that time naturally if you had invested your real cash it allows you to develop self-confidence understand 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 in fact how to copy individuals 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 make certain you comprehend what your danger profile is now what do i imply by that undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just indicates am i fine with potentially losing a good amount of this financial investment or getting as
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well now keep in mind everything is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose money however that equally implies they’ll lose eventually in their journey obviously individuals do generate income as well and i have actually got videos all about how you can ensure you are among individuals to really generate income but in this circumstance ensure you research your threat level would you be all right offering your money to another person which is successfully what you’re doing and trusting them make certain you understand what they’re investing in fully if you’re somebody who isn’t wishing to be that risky do not choose somebody who’s entirely into crypto or currency conversion consider it you ‘d probably want a backbone of strong products
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like gold or perhaps oil plus more standard etfs and index funds you may 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 actually use this too truly quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to really search for somebody that you fancy really following so let’s see maybe we desire somebody from joined kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has actually met that requirements and it does give you a risk aspect too so it tends to be the higher the number the more riskier they are with their stock investing now obviously 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 indicate somebody will make 56 for you for the next 12 months they might 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 verify are you all right with this and off you go now another way to really deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she actually 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 little bit so that’s excellent to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine really that i purchase too which is excellent so in fact for me understanding what i like to purchase 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 chooses she’s also got a bit more um of the type of main food business and you’ve got you understand pharmaceutical and production business as that. Etoro Wallet Vs Etoro.
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