We get htis a lot on our site the answer to Etoro Tax Report Tips….Concerns that i hear from new investors what if you’re brand new to investing you merely don’t wish to choose what you really want to invest and you want somebody to do it for you there’s just a couple of ways that that can take place the first of all you can hire an investment portfolio supervisor they’ll usually charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds specific funds are developed 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 an overall please bear in mind this platform is rather sophisticated you can do cfds which of course cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning more about please do study the platform do not simply presume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative also so you actually get used to the structure of the site and after that 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 buying genuine companies if you choose to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that individual has said they have actually made revenue 14 months in a row buy these choices due to the fact that you think is the best ones for you which 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 aspect that is probably.
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popular for it’s the choice to see what other traders are doing unbelievable 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 state i want to do precisely what that trader is doing or match that specific portfolio of options and basically whenever 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 is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved truly crucial you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee websites then might not charge you for actually buying and selling etfs or funds private commodities individual stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you actually begin purchasing copy trading or copy portfolios and lastly 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 costs actually important to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission charges are complimentary nevertheless there are a couple of other costs the first one is withdrawal costs so you can certainly put money in now if you’re in the uk we put our uk cash.
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and it’s instantly 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 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 knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might say all right that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those alternatives that they have a great deal of platforms certainly are complimentary 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 as soon as every six months you understand depends totally how you’re investing but that is a fee to bear in mind the second cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow 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 cost now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is basic they have i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they really giving 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 need to pay their fees now the fantastic feature of however when you have actually converted your money you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great utilizing that part of their website will not certainly limit you in any way nevertheless we have to understand two other costs the very first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is essentially the distinction that becomes part of the financial investment platform between the buy price and the price alright it’s their premium on doing both those 2 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 in fact suggests that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that once again so the current rate of tesla is the value of a share what’s called spread charges is the distinction then actually to purchase 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 obviously it’s more pricey to purchase 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 lot of platforms out there there’s a distinction in between if you’re buying it then you want to sell it which is how they make a little bit of money on those spread out fees it’s usually extremely 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 cash now the last task is called an
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overnight cost now this is truly important if you’re really using cfds yourself too an over night charge is when you’re not doing that buy sell deal in the same day alright there’s then an overnight cost charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one utilize which indicates you’re really buying the specific property instead of utilizing leverage anyway you won’t get hit with these fees however these charges are if you’re utilizing utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the same day so let’s state if you go into the help area this isn’t the over night charges details you can see exactly 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 said to cfds there are some service charges of course depending on what you are buying as well this is on your own so keep that in mind but complete costs are totally within their aid details fine and we spoke about along with free 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 everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of really using these copy operates they don’t have any extra fees on top of the regular charges that
exist now what you require to keep in mind though is these possibly handled by other individuals totally or sometimes have developed portfolios you’ve got a real individual doing the management you need to ensure you choose the person that’s right for you much like any profession this is your monetary properties so we definitely require to ensure it’s the best 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’ve got a couple of different alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card information or anything you can basically have this virtual portfolio simulate as if you are utilizing your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is a fantastic option for you again to evaluate the theories okay you might wish to purchase tesla or apple or this etf why not utilize the virtual choice as a way to type of safe have fun with it certainly you may have missed out on gains and losses throughout that time naturally if you had invested your real money it permits you to build 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 keep in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i suggest by that obviously 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 simply indicates am i all right with potentially losing an excellent amount of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will earn money you’ll lose money that’s why they make the figure 75 people will lose money but that equally suggests they’ll lose at some time in their journey undoubtedly individuals do generate income too and i’ve got videos all about how you can ensure you are among individuals to really earn money but in this situation make sure you research study your threat level would you be alright providing your cash to somebody else which is successfully what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous do not select somebody who’s entirely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong products
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like gold and even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually utilize this too really quickly over here you can copy people now it will give you a great deal of options and you can use the system to in fact look for someone that you expensive in fact following so let’s see maybe we want somebody from unified kingdom um who invests in let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everyone who has actually fulfilled that requirements and it does offer you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite 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 might make 4 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 after that you understand ask you to verify are you okay 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 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 bit so that’s great to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got some of mine really that i buy too which is good so actually for me understanding what i like to invest in 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 chooses she’s also got a little bit more um of the sort of main food business and you’ve got you know pharmaceutical and production companies as that. Etoro Tax Report Tips.
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