We get this a lot on our site and the answer to How To Set-up A Etoro Pro Account After I Have A Etoro Account….Concerns that i speak with new financiers what if you’re brand new to investing you merely don’t wish to choose what you really wish to invest and you want someone to do it for you there’s only a couple of ways that that can take place the firstly you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is naturally you can purchase mutual funds particular 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 as well now if you’re brand new to a total please remember this platform is rather innovative you can do cfds which obviously cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t just assume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you actually get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that person has stated they’ve made revenue 14 months in a row purchase these options since you believe is the ideal ones for you which being stated let’s dive straight in [Music] The 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 element that is most likely.
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well-known for it’s the alternative to see what other traders are doing amazing 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 implies with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they offer 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 money in so we’re going to likewise cover is the costs involved actually crucial you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are real 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 cost sites then may not charge you for in fact buying and selling funds or etfs specific products individual 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 fees 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 understand prior to you actually start purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with charges truly important to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling okay so commission fees are totally free nevertheless there are a couple of other costs the very first one is withdrawal fees so you can obviously put money in now if you remain 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 later on but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re offering 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 ensure that i’m just withdrawing when i definitely require 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 have to charge fees somewhere and withdrawal costs are just one of those options that they have a great deal of platforms undoubtedly are complimentary 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 six months you know depends totally how you’re investing however that is a cost to remember the 2nd charge that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that fits 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 great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have i suppose stuck with whatever charge 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 in fact offering you in regards to 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 say offer me us dollars instead you need to pay their fees now the terrific aspect of though when you’ve transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their site will not definitely limit you in any way nevertheless we have to know two other costs the first being what’s called spread costs all right and i’m going to show you what i imply on now a spread charge as i’m going to show you
on is essentially the distinction that becomes part of the financial investment platform between the buy price and the price okay 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 actually means that when you wish to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present price of tesla is the worth of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of make money from you every time you do a buyer’s share so keep that in mind obviously it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you say all right 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 offer it which is how they make a bit of money on those spread charges it’s usually 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 little bit cash now the last accomplishment is called an
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overnight cost now this is actually important if you’re actually utilizing cfds yourself also an overnight charge is when you’re not doing that buy sell transaction in the very same day all right there’s then an overnight fee charged and even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which indicates you’re really purchasing the precise possession rather than utilizing utilize anyway you will not get hit with these costs however these fees are if you’re utilizing utilize and cfds and then you’re going to have these fees if you’re not buy selling in the very same day so let’s say if you go into the assistance area this isn’t the overnight charges info you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which only applies as i said to cfds there are some additional charges obviously depending upon what you are investing in also this is on your own so keep that in mind but complete costs are totally within their help info alright and we talked about along with totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of actually using these copy functions they do not have any additional costs on top of the typical charges that
are there now what you need to bear in mind though is these possibly handled by other individuals totally or often have actually developed portfolios you have actually got a real person doing the management you need to ensure you pick the person that’s right for you just like any kind of work this is your financial properties so we absolutely need to ensure it’s the right individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of various choices for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your charge card information or anything you can generally have this virtual portfolio simulate as if you are using your own money however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash maybe this is a terrific choice for you again to check the theories okay you may wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe have fun with it obviously you might have lost out on gains and losses during that time of course if you had actually invested your real money it enables you to develop self-confidence understand the platform so that’s one choice for you then next week and i’m going to return to my real 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 prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i mean by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply suggests am i all right with possibly losing a great amount of this investment or getting as
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well now remember whatever is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose cash but that equally suggests they’ll lose at some point in their journey obviously people do generate income as well and i have actually 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 your risk level would you be okay offering your money to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous do not pick somebody who’s totally into crypto or currency conversion think of it you ‘d most likely want a foundation of strong products
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like gold or even oil plus more conventional 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 actually utilize this too really quickly over here you can copy people now it will give you a lot of options and you can use the system to really search for somebody that you expensive in fact following so let’s see possibly we desire somebody from united kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everyone who has actually fulfilled that criteria and it does provide you a risk factor also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of individuals that have rather high returns
keep in mind it’s like anything to do with the news or forecasts 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 way to ensure so do keep that in mind and as basic 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 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 buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got some of mine in fact that i buy too which is great so in fact for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s also got a bit more um of the type of main food companies and you’ve got you know pharmaceutical and production business as that. How To Set-up A Etoro Pro Account After I Have A Etoro Account.
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