We get htis a lot on our site the answer to How Long Does It Take To Verify My Identity Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to choose what you actually want to invest and you want somebody to do it for you there’s only a number of ways that that can happen the first off you can hire an investment portfolio manager they’ll generally charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds specific funds are created 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 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 more about please do study the platform don’t just assume because i utilize it that you can use it immediately 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 obviously your capital is at risk this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re talking about how to copy other people’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something because that person has actually said they’ve made profit 14 months in a row purchase these options since you believe is the best ones for you which being stated 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 becomes part of social trading which is one element 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 typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really say i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their 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 fees involved truly crucial 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 included and even a few of the zero fee websites then may not charge you for really buying and selling etfs or funds specific commodities specific stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact start buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually important to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission costs are complimentary however there are a couple of other fees the first one is withdrawal costs so you can obviously put cash in now if you’re 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 however when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say fine that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just among those alternatives that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends entirely how you’re investing but that is a cost to keep in mind the second cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s great that fits 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 great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using 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 wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say give me us dollars instead you have to pay their fees now the terrific thing about however when you have actually transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good utilizing that part of their website will not certainly restrict you in any way however we have to be aware of 2 other costs the first being what’s called spread charges okay and i’m going to show you what i imply on now a spread fee as i’m going to reveal you
on is generally the distinction that is part of the financial investment platform in between the buy cost and the price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that actually suggests that when you want to purchase 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 price of tesla is the worth of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of profit from you every time you do a purchaser’s share so keep that in mind clearly 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 fine well why does that occur it simply 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 offer it which is how they make a bit of money on those spread costs it’s typically exceptionally little 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 bit money now the last feat is called an
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over night cost now this is actually essential if you’re really using cfds yourself too an over night cost is when you’re refraining from doing that buy offer deal in the very same day alright there’s then an overnight fee charged or perhaps 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 product and using time one utilize which implies you’re actually buying the exact asset instead of utilizing leverage anyway you will not get hit with these fees but these costs are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy offering in the same day so let’s say if you enter into the assistance area this isn’t the over night costs info you can see precisely 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 said to cfds there are some additional charges obviously depending on what you are purchasing also this is on your own so keep that in mind but full costs are completely within their aid details okay and we spoke about as well as complimentary to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of actually utilizing these copy functions they do not have any additional fees on top of the typical charges that
are there now what you need to remember though is these possibly handled by other individuals entirely or in some cases have created portfolios you’ve got a genuine person doing the management you need to make sure you select the individual that’s right for you similar to any profession this is your monetary assets so we definitely require to make certain it’s the ideal person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of various alternatives for us first off if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require 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 however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real cash perhaps this is a terrific option for you again to test the theories all right you may wish to buy tesla or apple or this etf why not utilize the virtual option as a way to kind of safe have fun with it undoubtedly you might have lost out on gains and losses throughout that time naturally if you had actually invested your genuine cash it allows you to develop 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 really how to copy individuals and copy portfolios now here’s something to bear in mind prior to you select someone 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 indicate by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk simply means am i okay with possibly losing a good quantity of this investment or acquiring 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 statistic 75 individuals will lose cash however that equally suggests they’ll lose eventually in their journey undoubtedly individuals do earn money as well and i have actually got videos everything about how you can make sure you are among the people to really earn money however in this situation make certain you research study your threat level would you be alright giving your cash to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous don’t select someone who’s completely into crypto or currency conversion consider it you ‘d probably want a backbone of strong commodities
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like gold or even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really utilize this too really quickly over here you can copy individuals now it will offer you a lot of choices and you can use the system to in fact look for somebody that you fancy actually following so let’s see perhaps we want somebody 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 a great quantity and i can find everyone who has actually met that requirements and it does give you a danger factor too 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 rather high returns
remember it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to verify are you fine with this and off you go now another method to actually deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she in fact purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is excellent so actually for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she prefers she’s also got a little bit more um of the sort of primary food business and you have actually got you understand pharmaceutical and production companies as that. How Long Does It Take To Verify My Identity Etoro.
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