We get htis a lot on our site the answer to How To Close Out My Etoro Account….Concerns that i hear from new investors what if you’re brand new to investing you simply don’t want to decide what you really wish to invest and you want somebody to do it for you there’s only a couple of manner ins which that can take place the first off you can work with an 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 of course you can purchase 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 bear in mind this platform is quite sophisticated you can do cfds which of course cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform do not simply presume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you in fact 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 risk this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your cash so obviously your capital is at risk 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 invest in these options because you believe is the right 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 incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that suggests if for example 10 of their financial investment portfolio remains 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 actually important you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no fee sites then may not charge you for really buying and selling funds or etfs specific commodities private stocks.
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there’ll be fees on other parts perhaps 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 charges with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with fees really essential to comprehend these now on there’s a couple of fees there isn’t charges to do with really buying and selling alright so commission charges are free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can obviously 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 in the future however when you wish to withdraw your money so you offer your shares you sell your products 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 of course understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a lot 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 when every 6 months you understand depends totally how you’re investing but that is a cost to bear in mind the 2nd fee that i’ve discussed 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 anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they really 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 offer me us dollars instead you have to pay their charges now the terrific thing about though when you’ve converted your cash you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good using that part of their site won’t certainly limit you in any way nevertheless we need to know 2 other costs the very first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is generally the distinction that becomes part of the investment platform between the buy cost and the list price fine it’s their premium on doing both those two 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 actually suggests that when you want to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current rate of tesla is the value of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you say okay 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 want to offer it which is how they make a little bit of cash on those spread charges it’s generally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit cash now the last feat is called an
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over night cost now this is really crucial if you’re in fact using cfds yourself also an over night charge is when you’re not doing that buy sell deal in the exact same day fine there’s then an overnight fee charged and even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which suggests you’re in fact purchasing the exact possession rather than utilizing utilize anyway you won’t get hit with these fees but these charges are if you’re utilizing leverage and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s say if you enter into the aid section this isn’t the over night charges info you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends which only uses as i stated to cfds there are some surcharges obviously depending upon what you are purchasing also this is on your own so keep that in mind however complete costs are completely within their aid info okay and we talked about along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of in fact utilizing these copy operates they don’t have any extra costs on top of the normal charges that
are there now what you need to bear in mind though is these possibly managed by other people totally or in some cases have actually produced portfolios you have actually got a real individual doing the management you need to make certain you pick the person that’s right for you much like any kind of work this is your monetary properties so we absolutely need to make certain it’s the right individual 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 number of different alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual ways 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 need to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are using your own cash but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is a great choice for you once again to evaluate the theories fine you might want to buy tesla or apple or this etf why not use the virtual choice as a way to kind of safe play with it obviously you might have missed out on gains and losses throughout that time of course if you had invested your genuine cash it allows you to construct self-confidence comprehend 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 actually how to copy individuals and copy portfolios now here’s something to bear in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i imply by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just implies am i fine with potentially losing an excellent amount of this investment or gaining as
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well now keep in mind everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose money however that similarly means they’ll lose eventually in their journey obviously people do generate income too and i have actually got videos everything about how you can ensure you are among individuals to actually make money however in this circumstance make sure you research study your risk level would you be fine giving your money to another person which is successfully what you’re doing and trusting them ensure you comprehend what they’re purchasing totally if you’re someone who isn’t wanting to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold or even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact use this too truly quickly over here you can copy individuals now it will give you a lot of options and you can utilize the system to really search for somebody that you expensive actually following so let’s see perhaps we desire somebody from joined kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has actually fulfilled that requirements and it does provide you a risk aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not mean 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 simple as clicking the copy button and off you go and then you know ask you to validate are you alright with this and off you go now another way 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 in fact buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine in fact that i purchase too which is excellent so really 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 companies that seems to be what she chooses she’s also got a bit more um of the sort of primary food companies and you’ve got you understand pharmaceutical and production companies as that. How To Close Out My Etoro Account.
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