We get this a lot on our site and the answer to Is It Safe To Give Etoro My Id….Concerns that i speak with new financiers what if you’re brand new to investing you simply don’t want to choose what you really wish to invest and you want somebody to do it for you there’s only a couple of manner ins which that can occur the first off you can hire a financial investment portfolio supervisor they’ll normally charge a rather 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 purchase mutual funds specific funds are developed 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 rather innovative you can do cfds which of course cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform do not just 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 alternative also so you actually get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually said they have actually made earnings 14 months in a row invest in these choices due to the fact that you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the important 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 probably.
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well-known for it’s the alternative to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they buy they sell whatever they do your money will be simulated with it so that suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved really important you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies 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 no fee websites then may not charge you for really buying and selling etfs or funds private products specific stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing 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 before you really start investing in copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with fees really important to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling fine so commission costs are totally free nevertheless there are a couple of other costs the first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you offer 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 obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state alright that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just among those choices that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends completely how you’re investing but that is a fee to remember the second charge that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have i expect stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they really giving 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 fees now the great feature of though when you have actually transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial 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 extra costs so that’s really excellent utilizing that part of their website won’t certainly restrict you in any way however we need to understand two other fees the very first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is generally the distinction that belongs to the investment platform between the buy price and the list price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that actually suggests that when you want to offer or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that again so the present price of tesla is the value of a share what’s called spread fees is the difference then really 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 make money from you every time you do a buyer’s share so keep that in mind clearly it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you state okay 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 wish to offer it which is how they make a little bit of cash on those spread charges it’s typically incredibly little it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit cash now the last accomplishment is called an
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overnight fee now this is really crucial if you’re in fact utilizing cfds yourself as well an over night cost is when you’re not doing that buy sell deal in the very same day okay there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one take advantage of which means you’re in fact buying the precise asset instead of utilizing leverage anyway you won’t get hit with these charges but these costs are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy offering in the exact same day so let’s state if you enter into the aid section this isn’t the over night charges information you can see precisely 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 just uses as i said to cfds there are some added fees naturally depending upon what you are buying also this is on your own so keep that in mind but full charges are completely within their assistance information all right and we discussed in addition to free to deposit in however there’s a five 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 have actually stated copy trading and copy portfolios are 2 different ways of actually utilizing these copy works they don’t have any additional costs on top of the regular charges that
exist now what you require to bear in mind though is these possibly managed by other people totally or often have actually created portfolios you have actually got a real individual doing the management you need to make certain you select the person that’s right for you much like any profession this is your monetary possessions so we definitely need to ensure it’s the ideal person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the option to invest real money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your charge card details or anything you can generally have this virtual portfolio simulate as if you are using your own money but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is an excellent option for you once again to evaluate the theories alright you may wish to purchase tesla or apple or this etf why not use the virtual option as a method to type of safe have fun with it clearly you may have lost out on gains and losses during that time obviously if you had invested your genuine money it enables you to develop self-confidence understand the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy individuals 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 make sure you understand what your risk profile is now what do i indicate by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just indicates am i alright with potentially losing an excellent quantity of this investment or getting as
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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose money but that similarly indicates they’ll lose at some point in their journey obviously people do make money too and i’ve got videos all about how you can ensure you are among individuals to actually generate income but in this situation make certain you research your risk level would you be fine offering your cash to another person which is successfully what you’re doing and trusting them ensure you understand what they’re investing in totally if you’re someone who isn’t wanting to be that risky don’t 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 or even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can in fact utilize this too truly quickly over here you can copy people now it will offer you a lot of choices and you can use the system to really look for somebody that you fancy actually following so let’s see possibly we want someone from unified kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds a great amount and i can find everyone who has fulfilled that criteria and it does give you a risk aspect too 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 individuals 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 somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to guarantee 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 verify 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 actually deep dive into what is she in fact investing in 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 great to know ibm paypal yep she’s certainly 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 knowing what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s also got a bit more um of the kind of primary food business and you have actually got you know pharmaceutical and production companies as that. Is It Safe To Give Etoro My Id.
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