We get htis a lot on our site the answer to Etoro Turbotax Free….Questions that i hear from new investors what if you’re brand new to investing you simply do not want to choose what you really wish to invest and you desire somebody to do it for you there’s just a couple of ways that that can take place the first off you can employ an investment portfolio manager they’ll normally 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 of course you can purchase 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 also now if you’re brand new to an overall please remember this platform is quite advanced you can do cfds which obviously cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform don’t just presume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you really get utilized to the structure of the site and after that when you’re ready to utilize 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 purchasing real companies if you select to in this particular video we’re speaking about how to copy other people’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they’ve made revenue 14 months in a row invest in these options due to the fact that you believe is the right ones for you which being said let’s dive straight in [Music] so the important 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 element that is probably.
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popular for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved truly important you comprehend what are the costs of this now with any platform there will be some expense to obviously these are real 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 absolutely no cost websites then may not charge you for actually buying and selling funds or etfs specific commodities specific 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 kinds of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges actually essential to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling fine so commission charges are free however there are a couple of other charges the very first one is withdrawal costs so you can obviously put cash 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 however when you wish to withdraw your money so you offer 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 five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might say okay that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms clearly are totally free 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 bear in mind the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase 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 buying and even 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 using trading 2 and two open market anybody this is standard they have i expect stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they actually giving 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 costs now the great thing about however when you have actually transformed your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their site will not definitely restrict you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread fee as i’m going to show you
on is basically the difference that is part of the financial investment platform between the buy price and the 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 worth 599 per share in tesla that really implies that when you wish to offer or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing price of tesla is the value of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind obviously it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you say alright well why does that happen 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 and that is how they make a little bit of cash on those spread out fees it’s usually incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit cash now the last accomplishment is called an
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over night cost now this is truly important if you’re really utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy offer transaction in the same day fine there’s then an over night cost charged and even if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one leverage which indicates you’re really purchasing the specific property instead of utilizing take advantage of anyhow you won’t get hit with these fees however these fees are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy selling in the exact same day so let’s say if you enter into the aid area this isn’t the overnight costs information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which just uses as i stated to cfds there are some surcharges of course depending upon what you are investing in as well this is on your own so keep that in mind but complete charges are entirely within their help details alright and we discussed as well as free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various methods of really utilizing these copy operates they don’t have any extra costs on top of the typical charges that
are there now what you require to bear in mind though is these possibly handled by other individuals totally or in some cases have produced portfolios you’ve got a real person doing the management you need to ensure you pick the person that’s right for you much like any type of work this is your financial assets so we definitely require to ensure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a couple of different alternatives for us first off if you’re brand new to investing i want to draw your attention to this within you have the alternative 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 will not need to put in your credit card details or anything you can generally have this virtual portfolio mimic 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 real cash perhaps this is a terrific alternative for you again to check the theories fine you might wish to purchase tesla or apple or this etf why not use the virtual choice as a way to type of safe play with it obviously you may have missed out on gains and losses throughout that time naturally if you had invested your real money it enables you to construct 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 remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i mean by that undoubtedly 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 suggests am i all right with potentially losing a great amount of this investment or getting as
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well now keep in mind everything is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money however that similarly implies they’ll lose at some time in their journey undoubtedly individuals do make money also and i’ve got videos all about how you can ensure you’re one of individuals to in fact earn money but in this situation ensure you research your threat level would you be alright giving your cash to somebody else which is successfully what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re someone who isn’t wishing to be that dangerous do not select somebody who’s completely into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold and even oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can in fact utilize this too truly easily over here you can copy people now it will give you a great deal of options and you can utilize the system to actually look for somebody that you expensive really following so let’s see maybe we want someone from united kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a good amount and i can discover everybody who has met that requirements and it does provide you a risk aspect also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they could 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 validate are you fine with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can actually 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 kind of into those blue box and the tech market she’s got some of mine really that i invest in too which is good so in fact for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s also got a bit more um of the type of primary food business and you have actually got you understand pharmaceutical and production companies as that. Etoro Turbotax Free.
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