We get htis a lot on our site the answer to Selling My Etoro Account….Questions that i speak with new investors what if you’re brand new to investing you just don’t wish to decide what you in fact want to invest and you want somebody to do it for you there’s just a couple of ways that that can happen the firstly you can employ a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are produced 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 bear in mind this platform is rather sophisticated you can do cfds which naturally cfds are methods 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 simply presume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you in fact get used to the structure of the website and after that when you’re ready to use 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 genuine companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something because that individual has stated they’ve made profit 14 months in a row purchase these choices since 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 becomes part of social trading which is one aspect that is most likely.
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well-known for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that implies 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 included actually important you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost sites then might not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 really start purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with costs actually important to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling okay so commission fees are totally free nevertheless there are a couple of other fees the first one is withdrawal charges 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 in the future however when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling 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 make certain that i’m only withdrawing when i absolutely require to now you may state alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those choices that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you know depends entirely 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 handling us dollars only there’s not a choice to buy in euros or uk which’s fine that suits 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 great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two open market anybody this is basic 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 utilize their platform go from uk to us then that conversion charge is there what are they really providing 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 say offer me us dollars instead you need to pay their charges now the excellent feature of however when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good using that part of their site won’t definitely limit you in any way nevertheless we need to understand two other costs the very first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is generally the distinction that is part of the investment platform in between the buy price and the list price all right 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 indicates that when you wish to sell 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 worth of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll find this all over this is another manner in which they make a small amount of profit from you whenever you do a buyer’s share so keep that in mind certainly it’s more expensive 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 simply 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 bit of cash on those spread costs it’s typically extremely small it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit cash now the last feat is called an
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over night cost now this is actually important if you’re actually using cfds yourself as well an overnight cost is when you’re refraining from doing that buy offer transaction in the very same day okay there’s then an overnight charge charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one take advantage of which indicates you’re in fact buying the precise asset instead of using leverage anyhow you will not get hit with these costs but these costs are if you’re using leverage and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you go into the assistance section this isn’t the overnight costs info 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 overnight or you’re doing over weekends which only uses as i said to cfds there are some surcharges naturally depending upon what you are buying as well this is on your own so keep that in mind but complete fees are entirely within their help info alright and we discussed 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 typical product stock shares everything 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 in fact utilizing these copy operates they do not have any extra fees on top of the normal charges that
exist now what you require to remember though is these potentially managed by other individuals entirely or often have actually produced portfolios you’ve got a genuine person doing the management you have to make sure you select the individual that’s right for you much like any line of work this is your financial properties so we definitely require to ensure 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 couple of different choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash 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 credit card details or anything you can basically have this virtual portfolio simulate as if you are utilizing your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is a fantastic option for you again to evaluate the theories alright you may wish to purchase tesla or apple or this etf why not use the virtual choice as a method to sort of safe play with it clearly you might have lost 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 choice for you then next week and i’m going to go back 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 bear in mind before you choose someone 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 imply 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 suggests am i all right with potentially losing an excellent quantity of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 people will lose money but that similarly means they’ll lose at some time in their journey clearly individuals do generate income too and i’ve got videos everything about how you can ensure you’re one of the people to really generate income however in this scenario ensure you research your threat level would you be alright providing your money to another person which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re somebody who isn’t wanting to be that risky don’t pick somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a backbone 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 exact same with who you’re following now as i say you can really use this too actually easily over here you can copy people now it will offer you a great deal of choices and you can use the system to really search for someone that you expensive really following so let’s see possibly we want someone from unified kingdom um who buys let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has satisfied that requirements and it does offer you a danger factor as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have quite high returns
remember it’s like 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 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 this person for instance ruby mza as an example you can actually deep dive into what is she really buying so let’s go 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 certainly like kind of into those blue box and the tech market she’s got a few of mine really that i buy too which is great so in fact for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s also got a little bit more um of the kind of main food business and you’ve got you know pharmaceutical and production business as that. Selling My Etoro Account.
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