We get this a lot on our site and the answer to How To Add Credit Card In Etoro….Questions that i speak with new financiers what if you’re brand new to investing you merely do not want to decide what you really wish to invest and you desire 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 supervisor they’ll typically charge a rather a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is of course you can purchase mutual funds specific 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 too now if you’re brand new to an overall please remember this platform is rather sophisticated you can do cfds which of course cfds are methods 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 do not simply presume 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 option as well so you really get utilized to the structure of the website 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 threat this is investing we’re doing you’re buying real business if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that individual has actually said they’ve made revenue 14 months in a row purchase these options since you think is the right ones for you which being stated 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’s part of social trading which is one aspect that is most likely.
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popular for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that implies if for instance 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 also cover is the fees involved truly critical you understand what are the costs 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 a few of the absolutely no charge sites then might not charge you for actually buying and selling funds or etfs individual commodities private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 prior to you really start buying 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 advanced investor so let’s start with costs truly crucial to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling all right so commission charges are complimentary nevertheless there are a number of other charges the very first one is withdrawal fees so you can clearly 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 want to withdraw your cash so you sell 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 of course knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say alright that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply one of 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 mostly it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a fee to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact providing you in terms of 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 state give me us dollars instead you need to pay their costs now the fantastic feature of though when you have actually transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great using that part of their website will not certainly restrict you in any way however we need to be aware of 2 other fees the first being what’s called spread charges fine and i’m going to show you what i indicate on now a spread charge as i’m going to show you
on is generally the distinction that is part of the investment platform between the buy price and the sale 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 wish to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that once again so the existing cost of tesla is the value of a share what’s called spread fees is the difference then actually to purchase that share on the platform and you’ll find this all over this is another manner in which they make a percentage of profit 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 offer you less back with your sale and you state all right well why does that occur it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you want to sell it and that is how they make a bit of money on those spread fees it’s typically extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit money now the last task is called an
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overnight cost now this is truly important if you’re really using cfds yourself as well an over night cost is when you’re not doing that buy sell transaction in the exact same day alright there’s then an overnight cost charged and even if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which means you’re actually purchasing the exact property instead of utilizing utilize anyway you won’t get hit with these fees but these fees are if you’re utilizing 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 state if you enter into the help section this isn’t the overnight charges details you can see precisely 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 and that only applies as i stated to cfds there are some service charges obviously depending upon what you are purchasing also this is on your own so keep that in mind but full fees are entirely within their help information all right and we discussed in addition to totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of really utilizing these copy functions they don’t have any extra costs on top of the typical costs that
exist now what you need to remember though is these potentially handled by other individuals completely or in some cases have produced portfolios you’ve got a genuine person doing the management you need to make sure you select the individual that’s right for you much like any type of work this is your monetary possessions so we definitely need to ensure it’s the best individual for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a number of different options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your charge card information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is an excellent option for you once again to test the theories all right you might want to buy tesla or apple or this etf why not use the virtual option as a way to type of safe have fun with it undoubtedly you may have lost out on gains and losses throughout that time naturally if you had invested your real money it enables you to construct self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to remember prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy ensure 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 say the longer you’re leaving your investments the riskier you can be risk just implies am i alright with potentially losing an excellent quantity of this financial investment or acquiring as
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well now remember everything is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 people will lose money however that similarly means they’ll lose at some point in their journey obviously people do generate income as well and i’ve got videos all about how you can make sure you are among the people to actually earn money however in this circumstance make sure you research your threat level would you be okay providing your cash to somebody else which is effectively what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re somebody who isn’t wishing to be that risky don’t select someone who’s totally into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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like gold and even 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 utilize this too truly quickly over here you can copy individuals now it will provide you a great deal of choices and you can use the system to really look for someone that you fancy really following so let’s see maybe we desire someone from united kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a great amount and i can find everyone who has met that criteria and it does give you a danger element too 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 someone will make 56 for you for the next 12 months they might 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 understand ask you to verify are you all right with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she actually investing in so let’s go 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 understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine really that i invest in too which is excellent so actually for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s also got a bit more um of the kind of primary food companies and you’ve got you understand pharmaceutical and production companies as that. How To Add Credit Card In Etoro.
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