We get this a lot on our site and the answer to How Old Do You Have To Be To Use Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you merely do not want to choose what you in fact wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can happen the to start with you can work with an investment portfolio supervisor they’ll normally charge a quite a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is naturally you can purchase mutual funds particular funds are produced 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 as well now if you’re brand new to an overall please keep in mind this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t just presume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you really get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something because that individual has said they’ve made earnings 14 months in a row purchase 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] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
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popular for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can really say i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that means if for instance 10 of their investment portfolio is 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 actually crucial you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies 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 no cost websites then might not charge you for actually buying and selling etfs or funds specific products 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 type 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 prior to you really begin investing in copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with fees truly important to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling alright so commission charges are free however there are a number of other charges the very first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum quantity 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 make sure that i’m just withdrawing when i definitely need to now you might state all right 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 somewhere and withdrawal costs are just among those options that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing but that is a fee to bear in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two open market anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they actually providing 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 give me us dollars instead you have to pay their charges now the terrific aspect of however when you’ve converted your money you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase 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 truly excellent using that part of their website will not certainly restrict you in any way nevertheless we need to be aware of 2 other charges the very first being what’s called spread charges okay and i’m going to show you what i imply on now a spread charge as i’m going to show you
on is generally the distinction that is part of the financial investment platform in between the buy rate and the list price fine 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 value 599 per share in tesla that in fact indicates that when you want to sell or buy as you can see it’s not the rate you’re seeing up here let me show you that once again so the existing cost of tesla is the worth of a share what’s called spread costs is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you each time you do a buyer’s share so keep that in mind obviously it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you state okay well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread costs it’s generally extremely little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit money now the last feat is called an
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overnight cost now this is truly important if you’re actually using cfds yourself also an over night charge is when you’re refraining from doing that buy sell deal in the exact same day okay there’s then an over night 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 in fact buying out the etf the stock the product and using time one leverage which indicates you’re actually purchasing the specific property rather than utilizing leverage anyway you will not get hit with these charges but these charges are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s say if you enter into the aid section this isn’t the over night charges information you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just uses as i stated to cfds there are some added fees of course depending on what you are investing in too this is on your own so keep that in mind but full fees are totally within their aid information fine and we discussed along with free to deposit in but there’s a five 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 fee now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of really utilizing these copy functions they do not have any additional fees on top of the typical fees that
are there now what you need to bear in mind though is these possibly handled by other people totally or sometimes have created portfolios you have actually got a real person doing the management you need to make certain you select the person that’s right for you much like any type of work this is your financial properties so we definitely need to ensure it’s the ideal person 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 number of various alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your credit card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash but really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money possibly this is an excellent choice for you again to test the theories all right you might want to buy tesla or apple or this etf why not use the virtual alternative as a method to type of safe play with it certainly you may have missed out on gains and losses throughout that time of course if you had invested your real money it allows you to build self-confidence understand the platform so that’s one option for you then next week and i’m going to go back 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 before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat 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 just indicates am i okay with possibly losing a good amount of this investment or acquiring 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 fact 75 individuals will lose cash however that equally suggests they’ll lose at some point in their journey undoubtedly individuals do make money also and i have actually got videos all about how you can make certain you are among individuals to in fact earn money but in this situation make sure you research study your danger level would you be all right providing your cash to another person which is successfully what you’re doing and trusting them make certain you understand what they’re buying totally if you’re someone who isn’t wishing to be that risky don’t pick someone who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or even oil plus more conventional etfs and index funds you may 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 in fact 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 really search for somebody that you expensive really following so let’s see perhaps we desire someone from unified kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has actually fulfilled that requirements and it does offer you a danger aspect also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly 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 imply somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to verify are you alright with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact buying 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 understand ibm paypal yep she’s certainly like sort 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 in fact for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s also got a little bit more um of the kind of primary food companies and you’ve got you understand pharmaceutical and production companies as that. How Old Do You Have To Be To Use Etoro.
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