We get this a lot on our site and the answer to Is Etoro Supported Spark….Questions that i hear from brand-new investors what if you’re brand new to investing you just don’t wish to decide what you really want to invest and you want someone to do it for you there’s just a number of ways that that can occur the first of all you can work with a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that possibly one or two percent of your earnings will go to them the other thing is of course you can buy mutual funds specific funds are developed 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 an overall please bear in mind this platform is rather 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 finding out about please do study the platform do not just presume because i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you actually get utilized 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 obviously your capital is at threat this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something because that person has stated they’ve made revenue 14 months in a row invest in these options since you believe is the ideal 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’s part of social trading which is one element that is most likely.
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well-known for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests if for example 10 of their financial 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 charges involved really important you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost websites then may not charge you for actually buying and selling funds or etfs private products specific stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you actually start purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with charges actually important to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling fine so commission charges are totally free however there are a number of other fees the very first one is withdrawal fees so you can certainly put cash in now if you’re 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 on however when you wish to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum amount 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 ensure that i’m only withdrawing when i definitely need to now you may say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those options that they have a great deal of platforms undoubtedly 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 as soon as every six months you know depends entirely how you’re investing but that is a charge to keep in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really 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 give me us dollars instead you have to pay their fees now the terrific thing about though when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their site won’t certainly limit you in any way nevertheless we need to know 2 other fees the very first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you
on is essentially the difference that is part of the financial investment platform in between the buy cost 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 website today tesla’s dollar value 599 per share in tesla that in fact indicates that when you wish to sell or buy as you can see it’s not the rate you’re seeing up here let me show you that once again so the current rate of tesla is the value of a share what’s called spread fees is the difference then in fact to buy that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of profit from you every time you do a buyer’s share so keep that in mind obviously it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you state alright well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread fees it’s typically exceptionally little 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 little bit cash now the last accomplishment is called an
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overnight cost now this is really important if you’re really using cfds yourself as well an overnight fee is when you’re not doing that buy offer deal in the same day alright there’s then an overnight charge charged and even if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which suggests you’re in fact purchasing the specific possession rather than using take advantage of anyway you won’t get hit with these costs but these costs are if you’re utilizing utilize and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s say if you go into the assistance section this isn’t the overnight charges details you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some added fees obviously depending upon what you are purchasing as well this is on your own so keep that in mind however full fees are totally within their assistance info fine and we discussed as well as totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually utilizing these copy operates they don’t have any extra charges on top of the normal charges that
exist now what you require to bear in mind though is these potentially handled by other individuals completely or sometimes have actually created portfolios you’ve got a real person doing the management you have to make sure you choose the individual that’s right for you similar to any kind of work this is your financial possessions so we definitely need to make sure it’s the ideal person for us before we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of various choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require to put in your charge card information or anything you can generally have this virtual portfolio mimic 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 utilizing your real money perhaps this is an excellent choice for you once again to check the theories alright you may wish to purchase tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it undoubtedly you might have lost out on gains and losses throughout that time obviously if you had actually invested your real cash it enables you to construct self-confidence understand 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 prior to you select someone 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 undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i okay with potentially losing an excellent quantity of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will earn money you’ll lose cash that’s why they make the figure 75 people will lose cash but that similarly suggests they’ll lose at some point in their journey obviously people do make money also and i’ve got videos all about how you can ensure you’re one of the people to actually make money however in this circumstance make certain you research your danger level would you be alright giving your cash to someone else which is successfully what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that risky don’t pick somebody who’s totally into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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like gold or even 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 in fact use this too truly easily over here you can copy people now it will provide you a lot of choices and you can use the system to in fact look for somebody that you fancy in fact following so let’s see perhaps we want someone from joined kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everybody who has met that criteria and it does give you a risk element 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 variety of individuals that have rather high returns
remember 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 chance to ensure 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 confirm are you okay with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she really 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 definitely like kind of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is excellent so really for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s also got a bit more um of the sort of primary food companies and you’ve got you know pharmaceutical and production business as that. Is Etoro Supported Spark.
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