We get this a lot on our site and the answer to Is It Safe To Give Etoro Ssn….Concerns that i speak with new financiers what if you’re brand new to investing you just don’t wish to choose what you actually want to invest and you desire somebody to do it for you there’s just a couple of manner ins which that can happen the to start with you can work with a financial investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular 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 as well now if you’re brand new to an overall please keep in mind this platform is rather innovative you can do cfds which of course cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you really 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 naturally your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other people’s 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 individual has stated they’ve made earnings 14 months in a row buy these options since you think is the best ones for you which being said let’s dive straight in [Music] 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 aspect that is most likely.
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popular for it’s the choice to see what other traders are doing incredible we don’t generally 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 money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included truly critical you understand what are the expenses of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no cost sites then might not charge you for really buying and selling etfs or funds specific products individual 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 sort of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you really begin buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees actually important to comprehend these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission charges are complimentary nevertheless there are a number of other fees the first one is withdrawal charges 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 but when you wish to withdraw your cash so you offer your shares you sell your commodities 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just among those choices that they have a great deal of platforms obviously are totally free 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 when every six months you know depends completely how you’re investing but that is a charge to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they really providing you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say offer me us dollars rather you need to pay their charges now the great thing about however when you’ve converted your money you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their site won’t definitely limit you in any way nevertheless we need to know 2 other costs the first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you
on is basically the distinction that is part of the financial investment platform in between the buy cost and the list price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really suggests that when you want to buy or offer as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing price of tesla is the worth of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you say fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread fees it’s normally incredibly little it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit cash now the last feat is called an
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overnight fee now this is actually important if you’re actually utilizing cfds yourself as well an overnight fee is when you’re not doing that buy sell transaction in the very same day alright there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one take advantage of which indicates you’re in fact buying the precise asset rather than utilizing leverage anyway you will not get hit with these costs but these charges are if you’re utilizing utilize and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you go into the aid area this isn’t the over night fees 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 and that only uses as i said to cfds there are some surcharges naturally depending on what you are investing in as well this is on your own so keep that in mind however complete costs are totally within their aid info fine and we talked about along with totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal 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 various ways of in fact utilizing these copy operates they don’t have any extra costs on top of the normal charges that
exist now what you need to keep in mind though is these potentially handled by other people completely or often have actually produced portfolios you have actually got a real person doing the management you have to make certain you select the person that’s right for you similar to any type of work this is your monetary possessions so we absolutely need to make certain 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’ve got a couple of different alternatives for us to start with 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 means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t need to put in your charge card details or anything you can generally have this virtual portfolio imitate as if you are using your own money but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash perhaps this is a terrific option for you once again to evaluate the theories all right you might want to buy tesla or apple or this etf why not use the virtual option as a method to sort of safe have fun with it undoubtedly you may have lost out on gains and losses during that time of course if you had invested your genuine cash it enables you to construct confidence understand the platform so that’s one alternative 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 people and copy portfolios now here’s something to keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i imply by that certainly 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 okay with potentially losing a great quantity of this financial 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 cash however that similarly suggests they’ll lose eventually in their journey clearly individuals do earn money also and i have actually got videos all about how you can ensure you’re one of the people to actually earn money but in this scenario make sure you research your threat level would you be all right giving your money to somebody else which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re somebody who isn’t wishing to be that dangerous don’t choose somebody who’s completely into crypto or currency conversion think of it you ‘d probably desire a backbone of strong products
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like gold and even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can really use this too truly quickly over here you can copy people now it will offer you a great deal of options and you can utilize the system to in fact look for somebody that you elegant actually following so let’s see maybe we want someone from joined kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everybody who has fulfilled that requirements and it does give you a danger element also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
bear 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 might make four 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 then you understand ask you to confirm are you fine with this and off you go now another method to actually deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she really 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 little bit so that’s great to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got a few of mine in fact that i purchase too which is good so really for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s likewise got a little bit more um of the sort of primary food business and you’ve got you know pharmaceutical and production companies as that. Is It Safe To Give Etoro Ssn.
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