We get htis a lot on our site the answer to Can You Send Money To Other Peopl On Etoro….Questions that i speak with new financiers what if you’re brand new to investing you merely do not wish to choose what you in fact want to invest and you desire someone to do it for you there’s only a number of manner ins which that can take place the first off you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that possibly a couple of percent of your earnings 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 too now if you’re brand new to an overall please keep in mind this platform is quite sophisticated 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 presume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you really get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real companies if you choose to in this specific 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 simply do something since that person has actually stated they have actually made revenue 14 months in a row invest in these choices since you think is the best ones for you and that 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 probably.
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famous for it’s the alternative 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 means with our money we can in fact say i wish 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 offer whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial 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 fees included truly crucial you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly 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 a few of the no cost sites then may not charge you for really buying and selling etfs or funds private commodities private stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand prior to you in fact start buying copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees really essential to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling all right so commission costs are free nevertheless there are a number of other charges the very first one is withdrawal charges so you can certainly 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 on but when you want to withdraw your cash so you sell your shares you sell your products 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 obviously understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say fine that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those choices that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you know depends completely how you’re investing but that is a cost to remember the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway 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 charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they in fact giving 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 fees now the excellent feature of though when you’ve transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent utilizing that part of their site won’t definitely limit you in any way however we need to know two other fees the first being what’s called spread costs fine and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is essentially the difference that becomes part of the financial investment platform in between the buy rate 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 actually indicates that when you want to buy or sell as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the current rate of tesla is the value of a share what’s called spread fees is the difference then in fact to buy 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 whenever you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you state fine well why does that happen it simply 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 but that’s one location every investment company will once again make a bit money now the last feat is called an
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over night charge now this is actually essential if you’re actually utilizing cfds yourself also an overnight fee is when you’re not doing that buy sell deal in the exact same day alright there’s then an overnight cost 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 using time one take advantage of which indicates you’re really purchasing the specific asset rather than utilizing leverage anyway 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 state if you go into the help section this isn’t the overnight costs info you can see precisely 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 stated to cfds there are some service charges of course depending upon what you are investing in as well this is on your own so keep that in mind but complete charges are totally within their assistance information all right and we spoke about in addition to totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of actually utilizing these copy functions they don’t have any extra charges on top of the typical fees that
exist now what you require to keep in mind though is these potentially handled by other people completely or often have produced portfolios you have actually got a real individual doing the management you need to ensure you select the individual that’s right for you much like any line of work this is your financial possessions so we absolutely require to ensure it’s the ideal individual 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 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 choice to invest genuine money or a virtual platform virtual means 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 require to put in your credit card information or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money possibly this is a fantastic option for you again to evaluate the theories alright you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to type of safe play with it obviously you may have lost out on gains and losses throughout that time obviously if you had invested your genuine cash it enables you to develop self-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 actually how to copy individuals and copy portfolios now here’s something to bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i mean by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just means am i fine with potentially losing an excellent quantity of this financial investment or getting as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that equally indicates they’ll lose eventually in their journey certainly individuals do earn money as well and i’ve got videos all about how you can make sure you are among the people to actually make money however in this circumstance make certain you research study your danger level would you be alright offering your cash to somebody else which is effectively what you’re doing and trusting them make certain you understand what they’re buying fully if you’re someone who isn’t wanting to be that risky don’t select someone who’s totally into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you may 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 really utilize this too truly quickly over here you can copy people now it will provide 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 perhaps we desire somebody from united kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds an excellent amount and i can discover everyone who has satisfied that requirements and it does offer you a threat factor too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not mean somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to verify are you okay with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she actually investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine really that i buy too which is great so actually for me knowing what i like to purchase 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 primary food business and you have actually got you understand pharmaceutical and production business as that. Can You Send Money To Other Peopl On Etoro.
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