We get htis a lot on our site the answer to Can I Use Pro Etoro On Cell Phone….Questions that i hear from new financiers what if you’re brand new to investing you simply do not wish to decide what you in fact want to invest and you desire someone to do it for you there’s only a couple of manner ins which that can take place the first off you can work with a financial investment portfolio manager they’ll usually 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 obviously 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 also now if you’re brand new to a total please bear in mind this platform is quite advanced you can do cfds which naturally cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform don’t just assume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice also so you in fact get used to the structure of the site and after that 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 buying real business if you choose to in this particular video we’re discussing how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they have actually made revenue 14 months in a row buy these choices since you believe is the right 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 element that is most likely.
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popular for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included really important you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero charge websites then may not charge you for in fact buying and selling etfs or funds individual products private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 guidance best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs truly important to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling fine so commission charges are totally free however there are a couple of other fees the first one is withdrawal costs so you can obviously put money 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 in the future however when you want to withdraw your money so you sell your shares you sell your commodities 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 sure that i’m only withdrawing when i definitely need to now you may state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those alternatives 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 when every 6 months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and two free trade anyone at all this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists 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 haggle with them you can’t go to the bank and state provide me us dollars instead you have to pay their charges now the fantastic thing about though when you have actually converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really great using that part of their site won’t definitely limit you in any way however we need to be aware of 2 other charges the first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread charge as i’m going to show you
on is generally the distinction that becomes part of the financial investment platform in 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 website today tesla’s dollar value 599 per share in tesla that actually suggests that when you want to purchase or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current cost of tesla is the value 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 all over this is another way that they make a percentage of profit from you each time you do a buyer’s share so keep that in mind clearly it’s more costly to purchase than it is to offer so they’re going to offer you less back with your sale and you state all right well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you want to sell it and that is how they make a bit of money on those spread charges it’s normally extremely 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 bit cash now the last task is called an
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overnight charge now this is really crucial if you’re actually using cfds yourself also an overnight cost is when you’re refraining from doing that buy offer deal in the exact same day fine there’s then an over night fee charged or even 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 in fact buying out the etf the stock the product and utilizing time one utilize which means you’re actually buying the specific property instead of utilizing leverage anyway you won’t get hit with these charges however these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these costs 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 costs then for when you’re doing over night or you’re doing over weekends which only applies as i said to cfds there are some additional charges of course depending upon what you are buying too this is on your own so keep that in mind but full charges are totally within their assistance information all right and we discussed along with free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of in fact using these copy operates they do not have any additional fees on top of the regular charges that
are there now what you require to bear in mind though is these potentially managed by other individuals totally or often have actually produced portfolios you’ve got a genuine individual doing the management you have to make certain you select the individual that’s right for you similar to any kind of work this is your monetary properties so we definitely need to ensure it’s the ideal individual for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash however really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is a fantastic choice for you once again to evaluate the theories fine you may wish to purchase tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it certainly you might have lost out on gains and losses during that time naturally if you had invested your genuine money it permits you to construct self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to remember prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i mean 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 run the risk of just suggests am i fine with potentially losing a good quantity of this financial investment or gaining 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 statistic 75 individuals will lose cash but that similarly suggests they’ll lose eventually in their journey undoubtedly individuals do earn money too and i’ve got videos all about how you can make certain you are among the people to actually make money however in this scenario ensure you research your threat level would you be all right giving your cash to someone else which is effectively what you’re doing and trusting them make sure you comprehend what they’re purchasing totally if you’re somebody who isn’t wishing to be that risky do not pick someone who’s completely into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities
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like gold or perhaps oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really utilize this too truly easily over here you can copy people now it will give you a great deal of options and you can use the system to in fact look for someone that you expensive in fact following so let’s see perhaps we want somebody from united kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has fulfilled that requirements and it does give you a danger element too so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have quite high returns
remember it resembles anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they might make 4 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 then you understand ask you to validate are you all right 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 in fact deep dive into what is she actually buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine actually that i buy too which is good so in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s also got a little bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production companies as that. Can I Use Pro Etoro On Cell Phone.
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