We get htis a lot on our site the answer to Can You Trade Forex With Etoro….Concerns that i speak with new investors what if you’re brand new to investing you merely don’t wish to decide what you in fact want to invest and you want someone to do it for you there’s only a couple of ways that that can happen the first off you can employ a financial 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 buy mutual funds particular funds are created once 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 too now if you’re brand new to an overall please remember this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform do not just assume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you really get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying real business if you pick to in this particular video we’re speaking about 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 just do something because that individual has said they have actually made earnings 14 months in a row buy these options since you think is the best ones for you which being said let’s dive directly 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 probably.
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popular for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really say i want to do precisely what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they purchase they offer whatever they do your money will be mimicked 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 cash in so we’re going to likewise cover is the costs included really critical you comprehend what are the costs of this now with any platform there will be some expense to clearly 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 no charge sites then may not charge you for really buying and selling funds or etfs individual products 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 type of costs 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 in fact start buying copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with charges truly essential to understand these now on there’s a number of fees there isn’t charges to do with actually buying and selling alright so commission costs are complimentary however there are a number of other charges the 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 but when you want 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 five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state fine that’s rather costly 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 choices that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you understand depends entirely how you’re investing however that is a cost to remember the 2nd fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase 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 purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two free trade anybody this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact 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 state provide me us dollars instead you need to pay their fees now the terrific thing about though when you have actually transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert 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 great using that part of their website won’t certainly restrict you in any way nevertheless we need to know 2 other costs the first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is generally the distinction that is part of the investment platform between the buy rate and the 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 today tesla’s dollar value 599 per share in tesla that really suggests that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the current price of tesla is the worth of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of benefit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more pricey to buy than it is to sell so they’re going to give 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 in between if you’re buying it then you want to offer it which is how they make a bit of cash on those spread charges it’s generally 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 money now the last accomplishment is called an
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overnight cost now this is really important if you’re in fact using cfds yourself also an over night charge is when you’re not doing that buy offer deal in the very same day okay there’s then an overnight fee charged and even if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one leverage which means you’re really buying the specific property instead of utilizing utilize anyhow you won’t get hit with these fees however these costs are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s state if you enter into the help section this isn’t the overnight fees details 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 and that only applies as i said to cfds there are some service charges of course depending on what you are investing in too this is on your own so keep that in mind but full costs are completely within their help details all right and we discussed as well as free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of really using these copy functions they don’t have any extra charges on top of the normal fees that
exist now what you require to keep in mind though is these possibly managed by other people entirely or in some cases have developed portfolios you have actually got a genuine person doing the management you have to make certain you select the individual that’s right for you just like any line of work this is your financial possessions so we absolutely 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 want to use this function we’ve got a couple of various alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your credit card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is a great alternative for you once again to check the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual choice as a way to type of safe have fun with it clearly you might have lost out on gains and losses during that time naturally if you had invested your real cash it enables you to develop confidence understand the platform so that’s one choice 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 people and copy portfolios now here’s something to bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i indicate by that obviously 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 simply implies am i alright with potentially losing a good quantity of this 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 cash that’s why they make the fact 75 individuals will lose cash but that similarly implies they’ll lose at some point in their journey obviously people do generate income too and i have actually got videos all about how you can make sure you are among individuals to actually earn money however in this situation make certain you research study your risk level would you be alright offering your cash to someone else which is effectively what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re somebody who isn’t wishing to be that risky do not pick somebody who’s completely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very 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 provide you a lot of choices and you can use the system to actually search for someone that you expensive really following so let’s see maybe we desire somebody from joined kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a good amount and i can find everybody who has fulfilled that requirements and it does give you a threat factor also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest 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 easy as clicking the copy button and off you go and then you understand ask you to verify are you okay with this and off you go now another way to actually deep dive if we click this person for instance ruby mza as an example you can actually 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 bit so that’s excellent to know 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 purchase too which is great so really for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s also got a bit more um of the type of main food business and you’ve got you understand pharmaceutical and production companies as that. Can You Trade Forex With Etoro.
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