We get this a lot on our site and the answer to How To Change Virtual Money In Etoro….Questions that i hear from new financiers what if you’re brand new to investing you simply do not want to decide what you actually wish to invest and you want someone to do it for you there’s just a number of manner ins which that can take place the to start with you can employ a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are produced 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 also now if you’re brand new to a total please bear in mind this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform don’t simply presume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option too so you actually get used to the structure of the website and then when you’re ready to utilize 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 business if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that person has actually stated they’ve made profit 14 months in a row purchase these options due to the fact that you believe is the right ones for you and that being said let’s dive straight 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 probably.
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famous for it’s the choice to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can really state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests 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 costs involved really critical you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero charge websites then may not charge you for really buying and selling etfs or funds private commodities individual stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you really begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with charges really essential to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling alright so commission charges are totally free however there are a couple of other costs the very first one is withdrawal charges so you can certainly 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 however when you want to withdraw your cash so you offer your shares you offer your commodities 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might 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 costs are simply among those alternatives that they have a lot of platforms obviously are 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 6 months you understand depends totally how you’re investing but that is a charge to bear in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 free trade anyone at all this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and state provide me us dollars instead you need to pay their charges now the excellent feature of though when you’ve converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great utilizing that part of their site will not certainly restrict you in any way however we need to know two other charges the very first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is basically the difference that becomes part of the financial investment platform in 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 value 599 per share in tesla that actually implies that when you wish to buy or offer as you can see it’s not the price you’re seeing up here let me show you that again so the current rate 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 find this all over this is another manner in which they make a percentage of make money from you each time 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 say okay well why does that happen 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 want to sell it which is how they make a little bit of cash on those spread charges it’s generally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a little bit money now the last task is called an
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over night fee now this is actually crucial if you’re really using cfds yourself as well an over night fee is when you’re refraining from doing that buy sell deal in the very same day okay there’s then an over night fee charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which implies you’re in fact buying the exact possession instead of using take advantage of anyhow you will not get hit with these charges but these charges are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s state if you go into the assistance section this isn’t the overnight costs details you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which just applies as i said to cfds there are some surcharges naturally depending on what you are investing in also this is on your own so keep that in mind however full costs are totally within their assistance details all right and we spoke about in addition to complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of actually using these copy operates they don’t have any additional fees on top of the regular costs that
exist now what you need to bear in mind though is these potentially managed by other individuals totally or sometimes have created portfolios you have actually got a genuine person doing the management you have to ensure you select the individual that’s right for you just like any kind of work this is your monetary possessions so we definitely need to ensure 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 utilize this function we’ve got a number of different choices 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 cash or a virtual platform virtual ways 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 details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash possibly this is a fantastic choice for you again to check the theories alright you may wish to buy tesla or apple or this etf why not use the virtual choice as a method to sort of safe have fun with it undoubtedly you may have lost out on gains and losses throughout that time obviously if you had actually invested your real cash it permits you to develop confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my genuine 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 prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i suggest 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 implies am i okay with possibly losing a good quantity of this investment or acquiring 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 fact 75 individuals will lose cash but that similarly means they’ll lose eventually in their journey clearly individuals do make money too and i’ve got videos everything about how you can make sure you are among individuals to in fact generate income but in this situation make sure you research your threat level would you be fine offering your cash to another person which is efficiently 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 dangerous don’t choose someone who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually use this too actually easily over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to really search for somebody that you expensive really following so let’s see possibly we want someone from unified kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has actually met that criteria and it does give you a danger factor as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
keep 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 could make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to validate are you all right with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she actually purchasing 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 excellent to know ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got some of mine really that i purchase too which is good so actually for me understanding what i like to invest in 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 prefers she’s likewise got a little bit more um of the type of primary food companies and you have actually got you understand pharmaceutical and production business as that. How To Change Virtual Money In Etoro.
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