We get this a lot on our site and the answer to How To Change My Card Details On Etoro….Questions that i hear from brand-new financiers what if you’re brand new to investing you just do not want to choose what you really want to invest and you want someone to do it for you there’s only a couple of ways that that can take place the to start with you can hire an investment portfolio manager they’ll typically 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 naturally you can purchase mutual funds specific funds are produced 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 bear in mind this platform is rather advanced you can do cfds which of course cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform do not simply assume since i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that person has stated they have actually made earnings 14 months in a row invest in these choices since you believe is the right ones for you and that being stated let’s dive directly 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’s part of social trading which is one aspect that is probably.
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popular for it’s the option to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other benefit 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 precise portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges included actually crucial you comprehend what are the costs of this now with any platform there will be some expense to certainly 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 zero fee sites then might not charge you for actually buying and selling etfs or funds individual products 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 type of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees really important to comprehend these now on there’s a number of costs there isn’t charges to do with in fact buying and selling alright so commission costs are free however there are a number of other charges the first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk money.
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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 money so you offer 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 five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those choices that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two open market anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee 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 haggle with them you can’t go to the bank and state give me us dollars rather you have to pay their charges now the great thing about though when you’ve transformed your cash 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 indicates the preliminary 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 charges so that’s really good using that part of their site will not certainly restrict you in any way nevertheless we need to be aware of two other costs the very first being what’s called spread fees okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you
on is essentially the distinction that becomes part of the financial investment platform in between the buy rate and the sale price fine 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 really indicates that when you want to purchase or sell as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present price of tesla is the value of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to offer so they’re going to provide 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 distinction between if you’re buying it then you want to sell it which is how they make a bit of money on those spread costs it’s normally exceptionally little it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a little bit money now the last feat is called an
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overnight charge now this is really important if you’re actually utilizing cfds yourself also an over night fee is when you’re not doing that buy offer deal in the same day fine there’s then an overnight fee charged or 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 actually buying out the etf the stock the product and using time one take advantage of which means you’re actually buying the specific asset instead of utilizing take advantage of anyhow you will not get hit with these costs however these costs are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy offering in the very same day so let’s say if you enter into the help area this isn’t the over night fees information you can see exactly the breakdown and it’ll tell 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 service charges obviously depending on what you are buying also this is on your own so keep that in mind but complete charges are entirely within their help details all right and we talked about 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 typical product stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of really using these copy operates they do not have any extra fees on top of the regular charges that
exist now what you require to bear in mind though is these possibly handled by other people completely or sometimes have actually developed portfolios you’ve got a genuine person doing the management you need to ensure you choose the person that’s right for you just like any profession this is your monetary properties so we absolutely need to make certain it’s the best person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of different choices for us first off if you’re brand new to investing i want 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 won’t need to put in your credit card information or anything you can essentially have this virtual portfolio mimic as if you are using your own money but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money possibly this is a terrific choice for you once again to evaluate the theories fine you may wish to purchase tesla or apple or this etf why not use the virtual option as a method to kind of safe play with it certainly you may have lost out on gains and losses throughout that time of course if you had invested your real cash it permits 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 keep in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger 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 financial investments the riskier you can be risk simply means am i fine with potentially losing an excellent quantity of this financial investment or gaining as
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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose cash but that equally indicates they’ll lose eventually in their journey certainly individuals do generate income too and i’ve got videos everything about how you can make sure you are among the people to really earn money however in this scenario ensure you research study your threat level would you be okay offering your cash to another person which is efficiently what you’re doing and trusting them ensure you understand what they’re purchasing fully if you’re someone who isn’t wishing to be that risky don’t select somebody who’s totally into crypto or currency conversion think about it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you might not desire 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 utilize this too actually quickly over here you can copy people now it will give you a lot of choices and you can use the system to in fact look for somebody that you fancy really following so let’s see possibly we want somebody from united kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a good quantity and i can discover everybody who has actually met that requirements and it does provide you a risk aspect too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they could 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 know ask you to validate are you all right with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can really 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 absolutely like kind of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is good so actually for me understanding 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 type of primary food business and you have actually got you know pharmaceutical and production companies as that. How To Change My Card Details On Etoro.
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