We get htis a lot on our site the answer to Does Etoro Charge A Dollar When Singnig Up?….Questions that i hear from brand-new financiers what if you’re brand new to investing you just 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 happen the to start with you can work with an investment portfolio supervisor they’ll generally charge a rather a high premium to do that possibly one or two percent of your revenues will go to them the other thing is naturally you can purchase mutual funds specific 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 also now if you’re brand new to an overall please keep in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform do not just assume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you in fact get utilized to the structure of the site and then when you’re ready to use 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 purchasing real companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not simply do something because that individual has stated they have actually made revenue 14 months in a row invest in these choices because you believe is the ideal ones for you and that being stated let’s dive directly 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 element that is most likely.
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famous for it’s the alternative to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially 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 example 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 also cover is the charges involved truly vital you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real business 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 cost websites then may not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
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there’ll be costs on other parts perhaps 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 best advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with charges really important to understand these now on there’s a number of charges there isn’t costs to do with in fact buying and selling alright so commission fees are totally free however there are a number of other fees the very first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you offer 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 sure that i’m just withdrawing when i definitely need to now you might say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms undoubtedly are free 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 once every six months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s great that fits 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 good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they in fact 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 state offer me us dollars rather you have 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 sit in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually great using that part of their site will not definitely limit you in any way nevertheless we have to know 2 other fees the first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you
on is generally the difference that is part of the investment platform in between the buy rate and the sale price okay 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 in fact indicates that when you wish to offer or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the current cost of tesla is the value of a share what’s called spread fees is the difference then actually to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of make money from you each time you do a buyer’s share so keep that in mind clearly it’s more pricey to buy 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 simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a little bit of money on those spread out fees it’s typically incredibly little it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit cash now the last feat is called an
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over night cost now this is really essential if you’re actually using cfds yourself also an over night charge is when you’re not doing that buy offer transaction in the very same day alright there’s then an overnight charge charged or even if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one utilize which suggests you’re really buying the exact property rather than utilizing utilize anyhow you will not get hit with these fees but these fees are if you’re using utilize and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s state if you enter into the assistance area this isn’t the over night fees details 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 and that just applies as i said to cfds there are some service charges of course depending upon what you are purchasing too this is on your own so keep that in mind but full charges are totally within their help info fine and we spoke about as well as free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of in fact using these copy operates they don’t have any additional charges on top of the typical costs that
exist now what you need to remember though is these possibly handled by other people entirely or often have developed portfolios you’ve got a genuine individual doing the management you have to make sure you choose the person that’s right for you much like any line of work this is your monetary possessions so we absolutely require to make certain it’s the best person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a couple of various alternatives for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your credit card information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money however really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is an excellent option for you once again to test the theories fine you may want to purchase tesla or apple or this etf why not use the virtual choice as a way to sort of safe play with it clearly you may have missed out on gains and losses during that time obviously if you had invested your real cash it allows you to build 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 really how to copy individuals and copy portfolios now here’s something to keep in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i indicate by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just means am i fine with potentially losing an excellent amount of this financial investment or gaining as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that similarly indicates they’ll lose eventually in their journey certainly people do make money too and i’ve got videos all about how you can make certain you are among the people to really generate income however in this circumstance make sure you research study your risk level would you be all right providing your money to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re someone who isn’t wanting to be that risky don’t select somebody who’s entirely into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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like gold and even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact utilize this too really quickly over here you can copy individuals now it will give you a great deal of options and you can use the system to actually look for someone that you expensive really following so let’s see maybe we want someone from united kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has fulfilled that requirements and it does give you a risk factor also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to confirm are you fine 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 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 little bit so that’s great to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine in fact that i buy too which is excellent so really for me knowing what i like to invest in 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 prefers she’s also got a bit more um of the sort of primary food business and you’ve got you understand pharmaceutical and production business as that. Does Etoro Charge A Dollar When Singnig Up?.
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