We get htis a lot on our site the answer to Etoro App Costs….Concerns that i hear from brand-new investors what if you’re brand new to investing you simply do not want to choose what you in fact 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 hire a financial investment portfolio manager they’ll usually charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds particular funds are created 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 too now if you’re brand new to a total please bear in mind this platform is quite innovative you can do cfds which of course cfds are ways of investing
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with not really having the total of capital so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you in fact get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not just do something since that person has actually said they’ve made profit 14 months in a row invest in these choices since you think is the ideal ones for you and that 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 alternative to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives 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 cash in so we’re going to also cover is the costs included actually critical you understand what are the expenses of this now with any platform there will be some cost to obviously 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 in fact buying and selling etfs or funds private commodities individual stocks.
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there’ll be costs on other parts possibly 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 fees with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with fees truly essential to comprehend these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission charges are complimentary however there are a couple of other costs the very first one is withdrawal costs so you can obviously put money in now if you’re 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 later on however when you wish to withdraw your money 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 of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a cost to keep in mind the 2nd charge that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and two free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they actually 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 provide me us dollars instead you have to pay their costs now the great thing about though when you’ve transformed your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests 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 additional costs so that’s actually excellent using that part of their website won’t definitely limit you in any way nevertheless we have to know two other charges the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is generally the difference that becomes part of the investment platform between the buy cost and the price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that actually suggests that when you want to buy or sell as you can see it’s not the rate you’re seeing up here let me show you that once again so the present rate of tesla is the worth 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 everywhere this is another way that they make a small amount of make money from you each time you do a buyer’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you state alright well why does that occur it just 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 money on those spread fees it’s normally incredibly little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit money now the last task is called an
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over night fee now this is truly important if you’re in fact using cfds yourself also an overnight charge is when you’re refraining from doing that buy sell transaction in the same day all right there’s then an overnight fee charged or 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 commodity and utilizing time one take advantage of which suggests you’re really purchasing the specific possession instead of utilizing take advantage of anyhow you won’t get hit with these costs however these costs are if you’re using leverage and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you enter into the aid section this isn’t the overnight charges information 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 over night or you’re doing over weekends which just applies as i stated to cfds there are some added fees of course depending upon what you are buying as well this is on your own so keep that in mind but complete fees are entirely within their assistance info fine and we discussed as well as complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 different ways of in fact using these copy operates they do not have any additional costs on top of the typical fees that
exist now what you require to remember though is these possibly handled by other individuals completely or often have produced portfolios you’ve got a genuine individual doing the management you need to ensure you select the individual that’s right for you similar to any type of work this is your monetary assets so we absolutely need to make sure it’s the right 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 number of various options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real cash or a virtual platform virtual methods i believe 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 using your own cash however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real money maybe this is a terrific choice for you again to evaluate the theories alright you might want to buy tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it clearly you might have lost out on gains and losses throughout that time naturally if you had invested your genuine cash it permits you to develop self-confidence understand 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 really how to copy individuals and copy portfolios now here’s something to bear in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i imply by that certainly 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 simply suggests am i okay with potentially losing an excellent quantity of this financial investment or getting as
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well now keep in mind everything is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose money but that similarly implies they’ll lose eventually in their journey clearly individuals do earn money as well and i have actually got videos everything about how you can make certain you are among individuals to actually earn money however in this situation make sure you research your risk level would you be okay offering your money to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in totally if you’re somebody who isn’t wishing to be that risky do not choose somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong products
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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 really use this too actually quickly over here you can copy people now it will give you a lot of choices and you can utilize the system to in fact look for somebody that you fancy actually following so let’s see perhaps we want someone from joined kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has actually fulfilled that criteria and it does give you a risk aspect too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of individuals that have quite high returns
bear in mind it’s like 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 might make 4 or minus 50 there’s no way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to validate are you fine with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can really 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 little bit so that’s great 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 actually that i buy too which is good so actually for me understanding what i like to invest in my private 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 likewise got a little bit more um of the sort of main food business and you have actually got you know pharmaceutical and production companies as that. Etoro App Costs.
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