We get this a lot on our site the answer to Etoro Pro How To Avoid Fees….Questions that i hear from new financiers what if you’re brand new to investing you merely don’t wish to decide what you really wish to invest and you desire somebody to do it for you there’s just a couple of ways that that can take place the first of all you can employ an investment portfolio supervisor they’ll normally 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 of course you can purchase mutual funds specific funds are created 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 a total please bear in mind this platform is quite innovative you can do cfds which of course cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform do not just presume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that option as well so you actually get used to the structure of the site and then 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 danger this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that person has said they’ve made revenue 14 months in a row purchase these options because you think is the ideal ones for you which 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 element 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 usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of options and generally each time they make a trade they buy they offer whatever they do your money will be imitated with it so that implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included truly crucial you understand what are the expenses of this now with any platform there will be some cost to certainly these are real 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 cost websites then might not charge you for actually buying and selling funds or etfs private products specific 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 costs 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 in fact start buying copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with fees really crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission costs are totally free however there are a number of other fees the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk cash.
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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 want 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say all right that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just 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 largely it can be perhaps even once a year when every six months you understand depends totally how you’re investing but that is a cost to keep in mind the second cost that i have actually touched upon 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 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 good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and two free trade anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and state give me us dollars rather you need to pay their costs now the terrific aspect 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 money dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good utilizing that part of their site will not definitely restrict you in any way however we need to be aware of 2 other costs the very first being what’s called spread fees okay and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is essentially the difference that belongs to the financial investment platform in between the buy price and the sale price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really indicates that when you want to offer or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the current price of tesla is the worth of a share what’s called spread charges is the distinction then actually to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you every time you do a buyer’s share so keep that in mind certainly it’s more expensive to purchase than it is to offer so they’re going to offer 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 wish to offer it and that is how they make a little bit of cash on those spread charges it’s normally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a bit money now the last feat is called an
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over night cost now this is actually essential if you’re really using cfds yourself also an over night charge is when you’re not doing that buy sell deal in the same day alright there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to 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 utilizing time one take advantage of which means you’re really buying the precise property instead of utilizing take advantage of anyway you will not get hit with these charges but these fees are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the same day so let’s say if you go into the help area this isn’t the overnight costs details you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that just uses as i stated to cfds there are some surcharges of course depending on what you are buying also this is on your own so keep that in mind however complete fees are totally within their help information okay and we spoke about as well as free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of actually using these copy works they do not have any extra costs on top of the typical fees that
exist now what you need to bear in mind though is these possibly managed by other individuals totally or in some cases have actually developed portfolios you have actually got a real person doing the management you need to make certain you choose the individual that’s right for you similar to any type of work this is your financial possessions so we absolutely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually 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 option to invest genuine cash or a virtual platform virtual means i think 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 charge card details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money possibly this is a fantastic choice for you again to evaluate the theories alright you might want to purchase tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it certainly you might have lost out on gains and losses during that time naturally if you had actually invested your genuine cash it allows you to construct confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to bear in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend 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 risk just indicates am i okay with potentially losing a great amount of this financial investment or gaining as
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well now remember whatever is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose money but that similarly suggests they’ll lose eventually in their journey undoubtedly people do earn money as well and i have actually got videos everything about how you can make sure you are among individuals to really earn money however in this situation ensure you research study your risk level would you be all right giving your cash to another person which is successfully what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re someone who isn’t wanting to be that risky do not choose somebody who’s totally into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities
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like gold or perhaps oil plus more conventional etfs and index funds you might 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 actually use this too actually easily over here you can copy people now it will give you a great deal of options and you can use the system to in fact search for somebody that you fancy in fact following so let’s see perhaps we want someone from unified kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everybody who has actually met that criteria and it does give you a risk aspect as well so it tends to be the greater 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 mean someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to validate are you alright with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she really investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is excellent so actually for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production companies as that. Etoro Pro How To Avoid Fees.
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