We get htis a lot on our site the answer to Can I Use My Credit Card On Etoro….Concerns that i speak with new investors what if you’re brand new to investing you merely don’t want to choose what you in fact wish to invest and you want someone to do it for you there’s just a couple of manner ins which that can occur the to start with you can hire an investment portfolio supervisor they’ll usually charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can buy mutual funds particular funds are created once again with an account supervisor 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 a total please bear in mind this platform is quite sophisticated you can do cfds which of course cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning more about please do study the platform do not just presume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you actually get utilized to the structure of the website and then 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 investing in genuine business if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so clearly your capital is at danger and we have to bear that in mind do not simply do something because that individual has said they have actually made earnings 14 months in a row buy these choices due to the fact that you think is the ideal ones for you and that being said 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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famous for it’s the option to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that implies if for example 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 included truly vital you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no charge sites then may not charge you for actually buying and selling funds or etfs individual products specific stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with fees truly essential to comprehend these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission fees are complimentary however there are a couple of other charges the first one is withdrawal charges 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 immediately converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those options that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee 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 haggle with them you can’t go to the bank and say give me us dollars rather you have to pay their costs now the terrific aspect of however when you’ve converted your money you do not need to invest it immediately that dollar value can sit 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 occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s really good utilizing that part of their website will not definitely limit you in any way however we need to know 2 other charges the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread charge as i’m going to show you
on is essentially the difference that is part of the investment platform between the buy price 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 website right now tesla’s dollar worth 599 per share in tesla that really implies that when you want to purchase or sell as you can see it’s not the price you’re seeing up here let me show you that again so the existing price of tesla is the worth of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll find this everywhere this is another way that they make a small amount of benefit from you every 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 provide you less back with your sale and you state okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it and that is how they make a little bit of cash on those spread out charges it’s normally incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit cash now the last feat is called an
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overnight cost now this is really essential if you’re actually utilizing cfds yourself too an over night fee is when you’re not doing that buy offer transaction in the same day fine there’s then an over night cost charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which suggests you’re in fact buying the exact possession instead of using utilize anyway you will not get hit with these fees however these costs are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the exact same day so let’s state if you go into the help area this isn’t the overnight charges details you can see exactly the breakdown and it’ll tell 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 said to cfds there are some additional charges of course depending on what you are investing in also this is on your own so keep that in mind however full costs are entirely within their help information okay and we spoke about as well as complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of in fact using these copy functions they don’t have any additional fees on top of the normal charges that
exist now what you require to remember though is these potentially handled by other individuals totally or often have actually created portfolios you have actually got a real person doing the management you have to make certain you choose the individual that’s right for you similar to any type of work this is your monetary assets so we definitely require to make certain it’s the best person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a couple of various alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual methods 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 charge card details or anything you can essentially 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 genuine cash perhaps this is a terrific option for you again to check the theories all right you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a way to sort of safe play with it obviously you may have missed out on gains and losses during that time obviously if you had actually invested your real money it enables you to build confidence understand the platform so that’s one option for you then next week and i’m going to go back 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 keep in mind prior to you choose somebody 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 mean 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 just implies am i fine with potentially losing a good amount of this financial investment or acquiring as
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well now keep in mind everything is downs and ups you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose cash but that equally indicates they’ll lose eventually in their journey undoubtedly individuals do generate income too and i’ve got videos everything about how you can make certain you’re one of the people to really generate income but in this situation make sure you research study your threat level would you be okay providing your money to somebody else which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that dangerous don’t pick someone who’s completely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more standard 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 say you can actually use this too actually quickly over here you can copy people now it will give you a great deal of options and you can use the system to really look for someone that you elegant really following so let’s see possibly we desire someone from united kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a great amount and i can find everybody who has fulfilled that requirements and it does give you a threat element also 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 forecasts of the future this does not indicate someone 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 know ask you to confirm are you all right with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she actually purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is great 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 good spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the type of main food business and you’ve got you understand pharmaceutical and production business as that. Can I Use My Credit Card On Etoro.
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