We get this a lot on our site and the answer to What Banks Does Etoro Accept….Questions that i speak with brand-new financiers what if you’re brand new to investing you just do not want to decide what you actually want to invest and you want somebody to do it for you there’s just a couple of manner ins which that can occur the first off you can employ an investment portfolio manager they’ll usually 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 particular funds are produced 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 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 ways of investing
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with not actually having the total 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 utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you really 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 of course your capital is at threat this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re discussing how to copy other people’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something since 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 said let’s dive straight 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 choice to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included truly crucial you understand what are the expenses of this now with any platform there will be some expense to certainly these are real business 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 charge sites then might not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
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there’ll be costs on other parts perhaps 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 show you the charges with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with fees really essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission fees are totally free however there are a number of other fees the first one is withdrawal fees so you can clearly put cash 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 money so you offer your shares you sell your products whatever you’re offering 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 understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those choices that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends totally how you’re investing however that is a charge to keep in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two free trade anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact 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 give me us dollars instead you need to pay their costs now the terrific aspect of though when you’ve transformed your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great utilizing that part of their site will not certainly restrict you in any way nevertheless we have to know 2 other fees the first being what’s called spread charges all right and i’m going to show you what i imply 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 between the buy price and the list price fine it’s their premium on doing both those two 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 really means 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 current price of tesla is the value of a share what’s called spread costs is the difference then really to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of profit from you each time 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 give you less back with your sale and you say fine well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to offer it and that is how they make a bit of cash on those spread costs it’s normally exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit cash now the last task is called an
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over night charge now this is actually crucial if you’re actually using cfds yourself also an overnight cost is when you’re refraining from doing that buy offer transaction 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 actually buying out the etf the stock the product and utilizing time one leverage which suggests you’re really buying the exact possession rather than using utilize anyway you won’t get hit with these charges however these costs are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you enter into the help area this isn’t the over night charges info you can see exactly the breakdown and it’ll tell you what are the charges what are the costs 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 added fees obviously depending upon what you are buying too this is on your own so keep that in mind but full fees are completely within their help details alright and we talked about along with totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of in fact utilizing these copy works they don’t have any additional costs on top of the regular charges that
exist now what you require to keep in mind though is these possibly managed by other individuals entirely or in some cases have produced portfolios you have actually got a real person doing the management you have to ensure you pick the individual that’s right for you just like any kind of work this is your monetary possessions so we definitely need to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various choices 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 ways i believe 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 credit card details or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money maybe this is a fantastic option for you once again to check the theories alright 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 clearly you might have lost out on gains and losses during that time naturally if you had actually invested your real money it enables you to construct self-confidence understand the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to keep in mind before you choose 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 mean 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 indicates am i fine with potentially losing a good quantity of this investment or getting as
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well now remember everything is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money however that similarly indicates they’ll lose at some point in their journey certainly individuals do earn money as well and i’ve got videos everything about how you can make certain you’re one of individuals to really generate income but in this circumstance ensure you research study your risk level would you be okay providing your money to someone else which is effectively what you’re doing and trusting them make sure you comprehend what they’re investing in completely if you’re someone who isn’t wishing to be that risky don’t select someone who’s totally into crypto or currency conversion consider it you ‘d probably desire a foundation of strong commodities
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like gold and even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact use this too truly easily over here you can copy people now it will give you a lot of choices and you can utilize the system to in fact search for someone that you elegant in fact following so let’s see perhaps we desire someone from united kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a great quantity and i can discover everybody who has actually satisfied that criteria and it does offer you a danger aspect 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 people that have quite 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 might make four or minus 50 there’s no chance to ensure 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 fine with this and off you go now another way to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she in fact purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine in fact that i invest in too which is good so really for me knowing what i like to purchase 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 also got a bit more um of the sort of main food business and you have actually got you know pharmaceutical and production business as that. What Banks Does Etoro Accept.
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