We get htis a lot on our site the answer to Best Banks To Use With Etoro….Concerns that i hear from brand-new investors what if you’re brand new to investing you simply don’t want to decide what you in fact wish to invest and you want somebody to do it for you there’s only a couple of ways that that can take place the to start with you can work with an investment portfolio manager they’ll normally charge a quite 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 purchase mutual funds specific funds are created 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 also 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 learning more about please do study the platform don’t simply assume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option as well so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in real companies if you choose 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 person has said they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you and that 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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well-known for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a lot 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 precisely what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved really important you understand what are the costs 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 some of the zero cost websites then may not charge you for actually buying and selling funds or etfs specific products private stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering 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 actually begin buying copy trading or copy portfolios and finally some finest advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with charges really crucial to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling okay so commission fees are free however there are a couple of other costs the very first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk cash.
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and it’s immediately 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 amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those options that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing but that is a fee to remember the second charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they actually 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 say give me us dollars rather you need to pay their fees now the fantastic aspect of though when you have actually converted your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good using that part of their site won’t certainly limit you in any way nevertheless we have to be aware of 2 other costs the very first being what’s called spread fees okay and i’m going to show you what i mean on now a spread charge as i’m going to show you
on is basically the difference that is part of the investment platform in between the buy cost and the sale price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that really indicates that when you want to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present price of tesla is the worth of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of benefit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to sell so they’re going to give you less back with your sale and you say okay 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 wish to sell it which is how they make a bit of cash on those spread out charges it’s usually extremely small 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 bit money now the last task is called an
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overnight cost now this is really crucial if you’re in fact utilizing cfds yourself as well an over night fee is when you’re not doing that buy sell transaction in the same day alright there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which suggests you’re actually buying the specific property rather than utilizing utilize anyhow you won’t get hit with these costs however these costs are if you’re using 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 say if you go into the help section this isn’t the overnight charges info you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which only applies as i stated to cfds there are some additional charges 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 assistance information all right and we spoke about as well as totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of in fact using these copy functions they do not have any additional charges on top of the regular charges that
are there now what you require to remember though is these possibly handled by other people entirely or sometimes have produced portfolios you’ve got a genuine person doing the management you need to make sure you choose the person that’s right for you just like any profession this is your monetary possessions so we absolutely require to ensure it’s the best person for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of different alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money but really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash maybe this is a terrific option for you again to test the theories okay you might wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe play with it certainly you may have lost out on gains and losses throughout that time of course if you had invested your real money it allows you to construct self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember before you pick 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 suggest by that clearly 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 run the risk of just indicates am i okay with potentially losing a great amount of this investment or gaining as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 people will lose money however that equally indicates they’ll lose at some time in their journey obviously people do make money too and i’ve got videos all about how you can make sure you are among the people to really make money however in this circumstance make certain you research your risk level would you be fine giving your money to somebody else which is effectively what you’re doing and trusting them make sure you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that dangerous do not pick somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact use this too truly easily over here you can copy individuals now it will give you a great deal of options and you can use the system to actually search for someone that you fancy actually following so let’s see possibly we want someone from united kingdom um who purchases let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everybody who has actually satisfied that criteria and it does offer you a threat factor 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
keep in mind it’s like anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to validate are you alright with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she in fact buying 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 great to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market 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 companies that appears to be what she chooses she’s likewise got a bit more um of the kind of main food business and you have actually got you know pharmaceutical and production business as that. Best Banks To Use With Etoro.
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