We get this a lot on our site and the answer to How To Change Currency To Pounds On Etoro….Questions that i hear from new financiers what if you’re brand new to investing you merely don’t want to choose what you actually wish to invest and you want somebody to do it for you there’s just a couple of ways that that can take place the first off you can work with a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is of course you can purchase mutual funds specific 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 too now if you’re brand new to an overall please keep in mind this platform is quite sophisticated you can do cfds which obviously cfds are ways 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 do not simply assume since i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you in fact get used to the structure of the website and after that 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 threat this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that individual has said they have actually made earnings 14 months in a row purchase these options due to the fact that you believe is the best ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is understanding 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 option to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their 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 fees involved actually critical you understand what are the expenses of this now with any platform there will be some expense to obviously these are real 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 zero charge websites then might not charge you for in fact buying and selling funds or etfs individual commodities specific stocks.
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there’ll be fees 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 know prior to you really begin buying copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually essential to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling okay so commission charges are complimentary nevertheless there are a couple of other fees the very first one is withdrawal fees so you can certainly put money in now if you remain 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 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 of course understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just among those alternatives that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing however that is a cost to bear in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and two open market anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they actually offering 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 offer me us dollars rather you have to pay their charges now the great aspect of though when you’ve converted your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means 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 additional costs so that’s actually good using that part of their site won’t certainly restrict you in any way however we have to know 2 other charges the very first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is generally the difference that is part of the financial investment platform between the buy rate and the sale price alright it’s their premium on doing both those two 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 actually indicates that when you want to buy or sell as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current cost of tesla is the worth of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind clearly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you state alright well why does that occur it simply does that is the nature of a great deal 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 usually incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit money now the last feat is called an
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overnight charge now this is really important if you’re really using cfds yourself as well an overnight charge is when you’re not doing that buy offer deal in the exact same day all right there’s then an over night cost charged or even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one utilize which means you’re actually buying the exact possession rather than using leverage anyhow you won’t get hit with these fees but these costs are if you’re using utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you enter into the assistance area this isn’t the overnight fees info you can see precisely 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 which just uses as i said to cfds there are some surcharges 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 help information alright and we spoke about as well as complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of in fact utilizing these copy works they do not have any extra charges on top of the typical costs that
exist now what you require to bear in mind though is these potentially handled by other people totally or in some cases have created portfolios you’ve got a real individual doing the management you have to ensure you select the individual that’s right for you similar to any line of work this is your monetary assets so we definitely require to make certain it’s the right 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’ve 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 alternative to invest real money 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 need to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are using your own money however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money possibly this is an excellent option for you once again to evaluate the theories all right you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to type of safe have fun with it clearly you might have missed out on gains and losses throughout that time of course if you had actually invested your genuine money it allows you to develop 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 in fact how to copy individuals and copy portfolios now here’s something to bear in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk 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 simply implies am i alright 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 make money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash however that similarly implies they’ll lose at some time in their journey undoubtedly people do make money as well and i have actually got videos all about how you can ensure you’re one of the people to actually make money but in this scenario make certain you research study your threat level would you be all right giving your money to someone else 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 do not select someone who’s totally into crypto or currency conversion think about it you ‘d probably want a foundation 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 very same with who you’re following now as i say you can in fact use this too truly easily over here you can copy individuals now it will give you a great deal of options and you can utilize the system to actually search for somebody that you expensive actually following so let’s see maybe we want someone from joined kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everybody who has fulfilled that requirements and it does provide you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not imply 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 then you understand ask you to validate are you okay 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 buying 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 excellent to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine in fact that i purchase too which is great so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s also got a bit more um of the sort of primary food business and you’ve got you know pharmaceutical and production business as that. How To Change Currency To Pounds On Etoro.
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