We get this a lot on our site and the answer to Is It Safe To Give Etoro My Social Security Number….Questions that i hear from new investors what if you’re brand new to investing you simply don’t want to choose what you in fact want to invest and you want someone to do it for you there’s just a couple of ways that that can occur the firstly you can work with an investment portfolio manager they’ll usually 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 of course you can buy mutual funds particular funds are created 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 also now if you’re brand new to an overall please keep in mind this platform is quite innovative you can do cfds which naturally 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 about please do study the platform don’t simply 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 consider that choice as well so you in fact 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 of course your capital is at threat this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually stated they have actually made earnings 14 months in a row purchase these choices since you think is the best ones for you which being said let’s dive directly 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 aspect that is probably.
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famous for it’s the option 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 therefore that implies with our cash we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for instance 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 also cover is the costs involved actually vital you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real 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 zero fee websites then might not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
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there’ll be charges on other parts maybe 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 know before you really start buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with charges truly crucial to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling okay so commission charges are complimentary however there are a number of other fees the first one is withdrawal fees so you can undoubtedly 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 but when you wish to withdraw your cash so you offer your shares you offer 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 understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state alright that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those choices that they have a great deal of platforms certainly 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 once every six months you know depends completely how you’re investing but that is a charge to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative 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 anyway 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 fee now when you utilize anybody so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of have 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 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 provide me us dollars rather you need to pay their fees now the excellent feature of however when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really good using that part of their site won’t certainly restrict you in any way nevertheless we need to know 2 other fees the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is generally the distinction that becomes part of the financial investment platform between the buy price and the list price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that in fact suggests that when you wish to offer or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the existing rate of tesla is the worth of a share what’s called spread charges is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of benefit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more costly to buy 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 occur it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it and that is how they make a little bit of money on those spread charges it’s generally extremely little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a bit money now the last feat is called an
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over night fee now this is actually important if you’re actually using cfds yourself as well an overnight charge is when you’re refraining from doing that buy offer deal in the very same day okay there’s then an over night cost charged or even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one leverage which implies you’re in fact buying the specific possession rather than using take advantage of anyway you will not get hit with these fees however these charges are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s state if you enter into the help section this isn’t the overnight fees information you can see exactly 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 and that only applies as i stated to cfds there are some surcharges of course depending upon what you are buying also this is on your own so keep that in mind however complete charges are completely within their help details fine and we discussed as well as complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of in fact utilizing these copy works they do not have any extra charges on top of the typical fees that
are there now what you need to keep in mind though is these potentially handled by other individuals completely or in some cases have actually created portfolios you have actually got a real individual doing the management you have to make sure you select the person that’s right for you similar to any profession this is your financial possessions so we absolutely 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 want to use this function we have actually got a number of different 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 money that you’re investing you will not need to put in your credit card information or anything you can generally have this virtual portfolio imitate as if you are utilizing your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine money maybe this is a great choice for you again to evaluate the theories alright you might wish to purchase tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe have fun with it undoubtedly you may have missed out on gains and losses throughout that time naturally if you had actually invested your real money it permits you to build self-confidence understand the platform so that’s one option for you then next week and i’m going to return 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 someone 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 undoubtedly 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 simply means am i okay with possibly losing an excellent quantity of this financial investment or gaining 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 figure 75 people will lose money but that similarly suggests they’ll lose at some time in their journey undoubtedly people do make money also and i have actually got videos all about how you can make sure you’re one of the people to actually generate income however in this scenario ensure you research your threat level would you be alright offering your cash to another person which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that risky do not pick someone who’s completely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold or even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually utilize this too really easily over here you can copy people now it will provide you a great deal of choices and you can utilize the system to in fact look for someone that you elegant in fact following so let’s see maybe we want someone from unified kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everybody who has fulfilled that requirements and it does offer you a danger element also 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 individuals that have rather high returns
remember it resembles anything to do with the news or forecasts 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 other 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 alright with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she actually purchasing so let’s enter 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 understand ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got a few of mine really that i buy too which is good so really for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s likewise got a little bit more um of the kind of main food business and you have actually got you understand pharmaceutical and production business as that. Is It Safe To Give Etoro My Social Security Number.
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