We get htis a lot on our site the answer to Does Etoro Use Prepaid Cards….Concerns that i speak with brand-new financiers what if you’re brand new to investing you merely don’t wish to decide what you actually want to invest and you desire someone to do it for you there’s only a couple of ways that that can happen the to start with you can employ a financial investment portfolio supervisor they’ll typically charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are produced once 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 rather innovative you can do cfds which naturally cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform don’t just assume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you really 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 genuine companies if you pick to in this specific video we’re talking about how to copy other individuals’s 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 stated they have actually made earnings 14 months in a row purchase these options since you think is the right ones for you which being stated let’s dive straight 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 most likely.
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popular for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really 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 sell whatever they do your money will be mimicked with it so that indicates if for instance 10 of their financial 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 involved truly crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then might not charge you for really buying and selling etfs or funds specific commodities individual stocks.
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there’ll be fees on other parts perhaps 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 reveal you the charges with in particular in this video the next would be things to know prior to you in fact begin investing in copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with charges really crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling alright so commission costs are totally free however there are a number of other costs 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 money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish 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 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs 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 largely it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing but that is a fee to remember the 2nd fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine 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 even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two free trade anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually providing you in regards to 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 give me us dollars instead you need to pay their charges now the fantastic aspect of however when you’ve converted your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good using that part of their site will not certainly limit you in any way however we have to understand 2 other charges the first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is essentially the distinction that becomes part of the investment platform in between the buy rate and the sale price all right 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 worth 599 per share in tesla that actually means that when you want to purchase or sell as you can see it’s not the rate 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 actually 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 whenever you do a buyer’s share so keep that in mind obviously it’s more costly to buy 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 wish to offer it which is how they make a little bit of cash on those spread fees 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 again make a little bit cash now the last task is called an
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over night fee now this is really crucial if you’re in fact using cfds yourself as well an overnight cost is when you’re refraining from doing that buy sell deal in the same day okay there’s then an over night cost charged and even if you go from the friday to the monday before cruising a weekend cost 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 implies you’re in fact purchasing the precise possession instead of utilizing utilize 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 costs if you’re not buy offering in the very same day so let’s state if you enter into the aid section this isn’t the overnight charges information you can see exactly the breakdown and it’ll tell 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 said to cfds there are some service charges obviously depending upon what you are investing in too this is on your own so keep that in mind however complete fees are entirely within their assistance details alright and we discussed as well as free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of in fact using these copy functions they don’t have any extra charges on top of the typical costs that
are there now what you need to remember though is these possibly managed by other individuals entirely or sometimes have developed portfolios you’ve got a real individual doing the management you have to make sure you select the individual that’s right for you much like any kind of work this is your financial assets so we definitely need to ensure it’s the ideal person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different options 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 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 need to put in your charge card details or anything you can basically have this virtual portfolio imitate as if you are using your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money perhaps this is a great choice for you again to test the theories alright you may want to purchase tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it clearly you might have lost out on gains and losses during that time naturally if you had invested your real 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 return 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 keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i imply 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 a great amount of this investment or acquiring 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 cash however that equally indicates they’ll lose at some point in their journey obviously individuals do generate income as well and i’ve got videos everything about how you can make sure you’re one of individuals to really make money but in this scenario make certain you research your danger level would you be fine offering your money to another person which is efficiently 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 entirely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold and even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can actually utilize this too truly easily over here you can copy people now it will offer you a lot of options and you can utilize the system to really search for someone that you expensive actually following so let’s see perhaps we desire somebody from united kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has actually fulfilled that criteria and it does offer you a danger aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of individuals that have quite high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to verify are you alright with this and off you go now another way 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 really purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is great so actually for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s also got a bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production business as that. Does Etoro Use Prepaid Cards.
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