We get this a lot on our site and the answer to How To Change Address On Etoro….Questions that i speak with new financiers what if you’re brand new to investing you merely don’t want to decide what you actually wish to invest and you desire somebody to do it for you there’s just a couple of ways that that can occur the to start with you can hire a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is of course you can purchase mutual funds particular funds are created 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 keep in mind this platform is quite innovative you can do cfds which of course cfds are ways 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 do not just presume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you actually get used to the structure of the website and then when you’re ready to use 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 purchasing genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something since that person has said they’ve made earnings 14 months in a row purchase these choices due to the fact that you believe is the best ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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famous for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of options and basically every time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved truly critical you understand what are the expenses of this now with any platform there will be some expense to clearly these are real 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 absolutely no charge websites then might not charge you for really buying and selling etfs or funds private products 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 kinds of costs 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 understand prior to you actually begin purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees truly crucial to comprehend these now on there’s a couple of charges there isn’t costs to do with really buying and selling fine so commission charges are totally free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you offer your shares you sell 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may state all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a fee to keep in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow 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 anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact giving 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 offer me us dollars rather you need to pay their costs now the fantastic thing about though when you’ve transformed your cash you do not have to invest it right now 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 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 truly excellent using that part of their website will not definitely limit you in any way nevertheless we have to be aware of two other charges the very first being what’s called spread costs alright and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is basically the distinction that is part of the financial investment platform between the buy rate and the price all right 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 means that when you wish to buy or offer as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present rate of tesla is the worth of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll find this all over this is another way that they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind undoubtedly 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 all right well why does that happen 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 wish to offer it and that is how they make a bit of cash on those spread costs 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 once again make a bit money now the last task is called an
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overnight charge now this is really essential if you’re actually utilizing cfds yourself as well an over night fee is when you’re not doing that buy sell transaction in the very same day alright there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which indicates you’re really purchasing the exact asset rather than utilizing utilize anyway you will not get hit with these costs but these fees are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you enter into the assistance section this isn’t the overnight costs details you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that just applies as i stated to cfds there are some surcharges obviously depending on what you are buying too this is on your own so keep that in mind but complete fees are entirely within their help info alright and we discussed along with complimentary to deposit in however there’s a five dollar charge if you wish 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 2 various ways of in fact using these copy functions they do not have any additional charges on top of the regular fees that
are there now what you require to bear in mind though is these possibly managed by other people completely or in some cases have actually created portfolios you’ve got a genuine person doing the management you have to make certain you pick the person that’s right for you similar to any type of work this is your financial possessions so we absolutely need to make sure it’s the ideal 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 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 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 need to put in your charge card information or anything you can essentially have this virtual portfolio simulate 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 utilizing your real cash maybe this is a terrific alternative for you again to check the theories alright you might wish to purchase tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe play with it obviously you may have missed out on gains and losses throughout that time of course if you had invested your real cash it enables you to construct confidence understand the platform so that’s one choice 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 people and copy portfolios now here’s something to keep in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you understand 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 investments the riskier you can be risk simply indicates am i all right with possibly losing a good amount of this financial investment or getting as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the statistic 75 people will lose money however that equally implies they’ll lose eventually in their journey undoubtedly individuals do generate income as well and i’ve got videos everything about how you can make certain you’re one of the people to in fact make money but in this situation ensure you research study your threat level would you be all right giving your cash to somebody else which is successfully what you’re doing and trusting them make sure you understand what they’re investing in totally if you’re somebody who isn’t wishing to be that dangerous do not choose somebody who’s entirely into crypto or currency conversion consider it you ‘d probably want a backbone of strong commodities
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like gold or even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the exact 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 give you a great deal of options and you can use the system to really search for someone that you fancy in fact following so let’s see perhaps we desire somebody from joined kingdom um who invests in let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has satisfied that criteria and it does offer you a danger factor also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people 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 4 or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to validate are you all right with this and off you go now another method to in fact deep dive if we click 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 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 type of into those blue box and the tech market she’s got a few of mine in fact that i purchase too which is great so really for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s also got a bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production companies as that. How To Change Address On Etoro.
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