We get this a lot on our site and the answer to How To Interpret Etoro 1099K….Questions that i hear from new investors what if you’re brand new to investing you just do not want to decide what you in fact want to invest and you desire somebody to do it for you there’s just a number of ways that that can happen the firstly you can employ a financial investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 advanced you can do cfds which naturally 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 don’t simply presume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you really get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying genuine business if you pick to in this specific 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 simply do something because that individual has actually stated they’ve made revenue 14 months in a row invest in these options because 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 understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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popular for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your money will be simulated with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included actually critical you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero cost websites then might not charge you for in fact buying and selling etfs or funds private commodities private stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 start purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with fees really essential to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling all right so commission costs are complimentary however there are a number of other charges the first one is withdrawal costs so you can obviously 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 later on but when you wish to withdraw your cash 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 five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say okay that’s quite 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 alternatives that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you know depends completely how you’re investing but that is a fee to bear in mind the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’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 purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they actually providing you in regards to 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 need to pay their charges now the terrific aspect of however when you’ve transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 additional fees so that’s truly great utilizing that part of their website won’t certainly limit you in any way nevertheless we need to know 2 other charges the first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread fee as i’m going to show you
on is generally the difference that belongs to the financial investment platform between the buy price and the price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that in fact suggests that when you wish to purchase or offer as you can see it’s not the cost you’re seeing up here let me show you that once again so the present rate of tesla is the value of a share what’s called spread costs is the distinction then actually to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to offer so they’re going to provide you less back with your sale and you state all right well why does that happen it just does that is the nature of a great deal 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 costs it’s typically exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit money now the last accomplishment is called an
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over night charge now this is truly crucial if you’re in fact utilizing cfds yourself too 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 charge 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 really buying out the etf the stock the product and using time one utilize which implies you’re in fact buying the exact asset instead of utilizing leverage anyway you won’t get hit with these costs but these charges are if you’re utilizing leverage and cfds and after that you’re going to have these fees if you’re not buy selling in the exact same day so let’s state if you go into the help area 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 costs then for when you’re doing overnight or you’re doing over weekends and that only uses as i said to cfds there are some additional charges obviously depending upon what you are buying too this is on your own so keep that in mind however complete charges are entirely within their aid information all right and we talked about in addition to complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of actually using these copy operates they don’t have any additional fees on top of the typical fees that
exist now what you need to bear in mind though is these potentially handled by other individuals entirely or in some cases have actually created portfolios you’ve got a genuine individual doing the management you have to make certain you choose the person that’s right for you much like any line of work this is your financial properties so we definitely need to ensure it’s the ideal individual for us before we copy them so the first things i would call it if you do wish to utilize 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 option to invest genuine cash or a virtual platform virtual ways 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 charge card information or anything you can basically have this virtual portfolio mimic as if you are using your own cash however really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash maybe this is a fantastic option for you again to check the theories okay you might want to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to sort of safe play with it certainly you may have lost 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 genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger 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 run the risk of just implies am i alright with potentially losing an excellent amount of this investment or gaining as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 people will lose money but that equally means they’ll lose at some point in their journey clearly individuals do generate income too and i have actually got videos all about how you can ensure you’re one of individuals to actually earn money but in this situation make certain you research study your risk level would you be alright offering your cash to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re someone who isn’t wishing to be that risky do not pick somebody who’s entirely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold and even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can actually use this too truly quickly over here you can copy individuals now it will give 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 somebody from unified kingdom um who buys let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds a good quantity and i can discover everybody who has actually met that requirements and it does give you a threat aspect 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
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 other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to confirm are you alright with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can really 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 little bit so that’s great to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is excellent so really for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses 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 Interpret Etoro 1099K.
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