We get htis a lot on our site the answer to How To Upgrade My Etoro Account?….Questions that i hear from new investors what if you’re brand new to investing you simply do not wish to decide what you really want to invest and you desire someone to do it for you there’s only a couple of ways that that can occur the first of all you can hire an investment portfolio manager they’ll generally charge a quite a high premium to do that maybe a couple of percent of your earnings 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 also now if you’re brand new to a total please remember this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t just presume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you actually get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something since that individual has actually said they’ve made profit 14 months in a row buy these options due to the fact that you think is the right ones for you which being stated let’s dive straight in [Music] so the 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 aspect that is most likely.
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famous for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your cash will be simulated 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 charges involved actually important you understand 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 buying the selling for you there’s going to be charges included and even some of the zero cost websites then might not charge you for actually buying and selling etfs or funds specific commodities specific stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs really essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling all right so commission charges are complimentary however there are a couple of other costs the first one is withdrawal fees 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 automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you sell your shares you sell 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 of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state all right that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just one of those options 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 mainly it can be maybe even once a year as soon as 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 discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 free trade anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they really offering 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 rather you need to pay their charges now the great thing about however when you’ve converted your money you do not have to invest it right now that dollar value 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 happens now with copy trading and copy portfolios there aren’t any extra charges so that’s actually excellent utilizing that part of their website won’t definitely limit you in any way however we have to be aware of two other costs the first being what’s called spread costs alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you
on is basically the distinction that belongs to the financial investment platform between the buy rate and the list price alright 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 indicates that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me show you that again so the current rate 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 discover this everywhere this is another way that they make a small amount of make money 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 sell 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 difference in between if you’re buying it then you wish to offer it which is how they make a little bit of cash on those spread out charges it’s typically exceptionally little it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a bit money now the last task is called an
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over night cost now this is actually important if you’re in fact using cfds yourself as well an over night fee is when you’re not doing that buy sell deal in the exact same day fine there’s then an over night charge charged or even if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which implies you’re actually buying the precise possession instead of utilizing leverage anyhow you will not get hit with these costs but these fees are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s say if you enter into the help section this isn’t the overnight charges details you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that just applies as i stated to cfds there are some surcharges naturally depending upon what you are purchasing as well this is on your own so keep that in mind but full fees are totally within their help details fine and we talked about along with complimentary 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 whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of actually utilizing these copy operates they don’t have any extra charges on top of the normal costs that
are there now what you need to keep in mind though is these potentially managed by other individuals totally or in some cases have produced portfolios you have actually got a genuine individual doing the management you need to make sure you pick the individual that’s right for you just like any type of work this is your monetary assets so we definitely need to make sure 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 use this function we’ve got a number of different options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual methods i think 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 money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash maybe this is a great alternative for you once again to check the theories alright you might wish to buy tesla or apple or this etf why not use the virtual alternative as a way to sort of safe play with it clearly you might have missed out on gains and losses throughout that time naturally if you had invested your genuine cash it enables you to build confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact 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 clearly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just suggests am i fine with potentially losing a great amount of this financial investment or gaining as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that equally suggests they’ll lose at some time in their journey undoubtedly people do earn money also and i have actually got videos everything about how you can make certain you are among individuals to in fact make money but in this scenario ensure you research study your danger level would you be all right providing your cash to somebody else which is successfully what you’re doing and trusting them make sure you understand what they’re buying totally if you’re somebody who isn’t wishing to be that risky do not pick somebody who’s totally into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong commodities
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like gold or even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact use this too really quickly over here you can copy people now it will provide you a great deal of choices and you can use the system to in fact look for somebody that you fancy really 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 gained at least 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has actually fulfilled that requirements and it does give you a risk element as well 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
remember it resembles anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance to ensure 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 fine with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she in fact buying 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 buy too which is great 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 good spread in tech companies that appears to be what she prefers she’s likewise got a bit more um of the sort of primary food business and you have actually got you understand pharmaceutical and production companies as that. How To Upgrade My Etoro Account?.
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