We get this a lot on our site and the answer to What Does It Mean If Your Etoro Account Is Bronze….Questions that i speak with brand-new financiers what if you’re brand new to investing you simply don’t want to decide what you really wish to invest and you want someone to do it for you there’s just a couple of manner ins which that can take place the first off you can employ an investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course you can buy mutual funds specific funds are created 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 also now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform do not just presume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you in fact get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something because that individual has actually said they have actually made revenue 14 months in a row invest in these choices since you believe is the right ones for you which being stated let’s dive straight 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 probably.
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well-known for it’s the choice to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can actually say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests if for example 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 likewise cover is the charges included really vital you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real business 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 etfs or funds private commodities private 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 type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you really begin investing in copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with fees truly crucial to comprehend these now on there’s a number of costs there isn’t charges to do with really buying and selling alright so commission charges are free nevertheless there are a number of other charges the first one is withdrawal fees so you can undoubtedly put cash in now if you’re 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 on however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might state all right 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 someplace and withdrawal fees are simply one of those alternatives that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing but that is a cost to remember the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase 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 purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they actually offering 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 say offer me us dollars instead you need to pay their charges now the great aspect of however when you have actually transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great using that part of their site will not definitely restrict you in any way however we have to know 2 other charges the first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you
on is basically the distinction that becomes part of the investment platform 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 value 599 per share in tesla that really indicates that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me show you that again so the current rate of tesla is the worth of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll discover this all over this is another way that they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind certainly it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you say okay well why does that occur 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 want to sell it which is how they make a little bit of cash on those spread costs it’s typically incredibly small 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 accomplishment is called an
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overnight cost now this is really important if you’re actually using cfds yourself as well an over night charge is when you’re refraining from doing that buy offer transaction in the exact same day okay there’s then an overnight cost charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which means you’re in fact purchasing the specific possession rather than utilizing take advantage of anyhow you won’t get hit with these fees but these charges are if you’re using leverage and cfds and after that you’re going to have these charges if you’re not buy selling in the same day so let’s state if you enter into the help section this isn’t the overnight fees info you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just uses as i stated to cfds there are some service charges naturally depending upon what you are purchasing as well this is on your own so keep that in mind however full charges are completely within their help details alright and we talked about in addition to free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two different methods of in fact utilizing these copy operates they do not have any additional charges on top of the normal charges that
are there now what you require to bear in mind though is these potentially managed by other individuals completely or often have developed portfolios you have actually got a genuine person doing the management you have to ensure you pick the person that’s right for you just like any kind of work this is your financial properties so we absolutely need to make sure 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 utilize this function we’ve got a number of different alternatives for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card information or anything you can basically have this virtual portfolio mimic as if you are using your own cash but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash maybe this is an excellent alternative for you once again to check the theories okay you might wish to buy tesla or apple or this etf why not use the virtual alternative as a way to sort of safe play with it obviously you might have missed out on gains and losses during that time naturally if you had actually invested your genuine money it allows you to build self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back 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 remember before you select someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i imply by that certainly 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 just indicates am i alright with possibly losing a good quantity of this investment or getting as
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well now remember whatever is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 people will lose cash however that equally indicates they’ll lose at some point in their journey clearly people do earn money too and i have actually got videos everything about how you can make certain you are among individuals to actually make money but in this circumstance ensure you research your risk level would you be okay providing your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that risky do not select someone who’s completely into crypto or currency conversion think of it you ‘d probably want a foundation 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 use this too truly easily over here you can copy individuals now it will offer you a great deal of choices and you can use the system to actually look for someone that you elegant really following so let’s see possibly we desire someone from unified kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a great quantity and i can find everyone who has actually fulfilled that requirements and it does provide you a threat element also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to confirm are you alright with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to know ibm paypal yep she’s absolutely 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 actually for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s likewise got a little bit more um of the sort of primary food companies and you have actually got you know pharmaceutical and production business as that. What Does It Mean If Your Etoro Account Is Bronze.
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