We get htis a lot on our site the answer to Etoro Open Paper Money Account….Concerns that i speak with new investors what if you’re brand new to investing you simply don’t wish to decide what you in fact wish to invest and you desire someone to do it for you there’s just a number of ways that that can happen the first of all you can hire a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is naturally you can buy mutual funds specific funds are developed 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 as well now if you’re brand new to an overall please remember this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t just presume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you actually 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 obviously your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made profit 14 months in a row buy 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 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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well-known for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for instance 10 of their 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 costs included actually critical you comprehend what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero fee sites then might not charge you for really buying and selling funds or etfs private commodities private 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 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 understand before you really begin investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with costs truly crucial to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling fine so commission costs are complimentary nevertheless there are a couple of other charges the first one is withdrawal fees so you can obviously 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 offer your products 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 of course understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those options that they have a great deal of platforms clearly are free 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 6 months you know depends totally how you’re investing but that is a fee to bear in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really providing 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 say offer me us dollars instead you need to pay their fees now the great thing about though when you have actually converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their site will not certainly restrict you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread fees alright and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is generally the difference that is part of the investment platform in between the buy price 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 right now tesla’s dollar value 599 per share in tesla that in fact means that when you wish to buy 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 worth of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of profit from you every time you do a buyer’s share so keep that in mind certainly it’s more costly to buy than it is to offer so they’re going to offer you less back with your sale and you state fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to sell it and that is how they make a little bit of cash on those spread out charges it’s normally incredibly small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit money now the last task is called an
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over night fee now this is actually essential if you’re in fact using cfds yourself as well an overnight charge is when you’re refraining from doing that buy sell deal in the same day okay there’s then an over night cost charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which implies you’re actually buying the specific possession instead of utilizing utilize anyhow you will not get hit with these fees however these fees are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you go into the aid section this isn’t the overnight costs details 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 and that only uses as i said to cfds there are some surcharges naturally depending upon what you are purchasing also this is on your own so keep that in mind but full fees are completely within their help info all right and we discussed along with complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various methods of actually using these copy functions they don’t have any extra charges on top of the regular fees that
exist now what you require to keep in mind though is these potentially managed by other individuals completely or sometimes have produced portfolios you’ve got a genuine person doing the management you need to ensure you choose the individual that’s right for you just like any kind of work this is your financial assets so we definitely need to ensure it’s the right person for us prior to 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 various choices for us to start with if you’re brand new to investing i want 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 money that you’re investing you won’t require to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own cash however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a great choice for you again to test the theories okay you might wish to buy tesla or apple or this etf why not use the virtual alternative as a way to type of safe play with it obviously you may have missed out on gains and losses during that time naturally if you had actually invested your real cash it allows you to construct self-confidence understand the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i suggest by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just means am i alright with potentially losing a great amount of this investment or gaining as
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well now remember whatever is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose money but that similarly indicates they’ll lose at some time in their journey certainly individuals do generate income as well and i have actually got videos all about how you can make certain you’re one of individuals to actually generate income but in this situation make certain you research your risk level would you be all right providing your cash to someone else which is successfully what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re someone who isn’t wishing to be that risky do not pick someone who’s totally into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities
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like gold or even oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can really use this too really quickly over here you can copy people now it will provide you a great deal of options and you can utilize the system to actually look for someone that you elegant in fact following so let’s see maybe we desire someone from joined kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has fulfilled that requirements and it does offer you a danger element as well 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 people that have quite high returns
bear in mind it resembles 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 four or minus 50 there’s no chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to confirm are you alright with this and off you go now another method to in fact deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she actually investing in so let’s go 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 know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine in fact that i invest in too which is good so in fact for me knowing what i like to invest in 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 chooses she’s also got a little bit more um of the sort of main food business and you have actually got you understand pharmaceutical and production companies as that. Etoro Open Paper Money Account.
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