We get this a lot on our site and the answer to Is Etoro Cold Storage Safe….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t want to choose what you really want to invest and you want someone to do it for you there’s only a number of ways that that can take place the firstly you can work with a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is naturally you can purchase mutual funds specific funds are produced 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 a total please bear in mind this platform is quite innovative you can do cfds which obviously cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform don’t just assume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that option also so you actually get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something because that person has said they have actually made profit 14 months in a row purchase these choices since you think is the ideal ones for you and that being stated let’s dive directly in [Music] so 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 aspect that is probably.
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famous for it’s the alternative to see what other traders are doing incredible we do not normally get that insight from a great deal 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 precisely what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for example 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 likewise cover is the costs involved actually important you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for really buying and selling etfs or funds specific commodities specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 in fact begin investing in copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with fees truly essential to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling okay so commission costs are complimentary nevertheless there are a number of other costs 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 automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell 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 knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends totally how you’re investing but that is a charge to keep in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine 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 even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they in fact giving 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 charges now the fantastic feature of though when you’ve transformed your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy 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 really great utilizing that part of their website won’t definitely restrict you in any way however we have to know two other costs the very first being what’s called spread charges fine and i’m going to reveal you what i imply on now a spread cost as i’m going to show you
on is essentially the distinction that becomes part of the financial investment platform between the buy rate and the sale price okay 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 means that when you wish to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current cost of tesla is the value of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to offer you less back with your sale and you state fine well why does that occur it just 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 which is how they make a bit of money on those spread costs it’s normally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a bit money now the last accomplishment is called an
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overnight fee now this is really essential if you’re really utilizing cfds yourself as well an over night charge is when you’re not doing that buy offer deal in the very same day okay there’s then an over night fee charged or even if you go from the friday to the monday prior to cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one leverage which indicates you’re really purchasing the exact property instead of using take advantage of anyhow you will not get hit with these costs but these charges are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you enter into the aid section this isn’t the overnight charges info you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that only applies as i said to cfds there are some surcharges obviously depending upon what you are investing in also this is on your own so keep that in mind however full costs are completely within their help information all right and we spoke about as well as totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of really using these copy functions they do not have any extra charges on top of the normal costs that
are there now what you require to keep in mind though is these potentially handled by other people entirely or in some cases have actually created portfolios you’ve got a genuine individual doing the management you need to ensure you select the person that’s right for you much like any line of work this is your financial properties so we definitely need to make sure it’s the best individual for us before 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 alternatives for us firstly 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 methods i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are using your own cash however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is a terrific choice for you again to test the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual option as a way to sort of safe play with it undoubtedly you may have missed out on gains and losses during that time of course if you had invested your real money it allows you to build confidence comprehend the platform so that’s one option 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 before you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i suggest by that clearly 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 simply suggests am i okay with possibly losing a great amount of this investment or getting as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose money however that similarly means they’ll lose eventually in their journey undoubtedly individuals do make money too and i’ve got videos all about how you can make certain you are among individuals to actually generate income but in this circumstance ensure you research study your risk level would you be okay providing your cash to someone else which is effectively what you’re doing and trusting them make sure you understand what they’re buying fully if you’re someone who isn’t wishing to be that dangerous don’t choose someone who’s completely into crypto or currency conversion consider 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 same with who you’re following now as i say you can really use this too really 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 someone that you elegant really following so let’s see possibly we desire somebody from unified kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has actually satisfied that criteria and it does provide you a danger aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
keep in mind it’s like 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 four or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to confirm are you okay with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can actually 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 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 really that i purchase too which is excellent so in fact for me understanding what i like to invest in 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 likewise got a bit more um of the kind of primary food business and you’ve got you understand pharmaceutical and production business as that. Is Etoro Cold Storage Safe.
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