We get this a lot on our site the answer to How Do I Close A Etoro Account….Questions that i hear from new investors what if you’re brand new to investing you merely don’t want to decide what you in fact wish to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the to start with you can employ an investment portfolio supervisor they’ll normally charge a rather a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 too now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform do not just presume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you actually get used to the structure of the site 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 risk this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they have actually made profit 14 months in a row purchase these options because you believe is the right ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is understanding 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 unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that means 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 costs involved really vital you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero charge sites then might not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
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there’ll be charges on other parts perhaps 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 reveal you the costs with in particular in this video the next would be things to understand before you in fact start purchasing copy trading or copy portfolios and finally some best advice best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with costs actually crucial to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling fine so commission costs are free however there are a number of other charges the first one is withdrawal charges so you can certainly put money in now if you remain 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 money so you offer your shares you offer your products 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 understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say alright that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those choices that they have a lot of platforms clearly 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 once every 6 months you know depends entirely how you’re investing but that is a charge to keep in mind the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative 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 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 use anyone so if you’re using trading two and two free trade anyone at all this is basic they have i expect stuck with whatever cost 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 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 say give me us dollars rather you have to pay their fees now the fantastic thing about though when you have actually converted your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their website won’t definitely limit you in any way however we have to understand two other fees the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread fee as i’m going to reveal you
on is basically the distinction that is part of the financial investment platform in between the buy rate and the sale price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that really suggests that when you want to offer or purchase as you can see it’s not the rate you’re seeing up here let me show you that again so the present price of tesla is the value of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of benefit from you every time 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 say all right well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to offer it which is how they make a bit of money on those spread fees it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit cash now the last task is called an
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over night fee now this is actually important if you’re actually using cfds yourself as well an overnight cost is when you’re not doing that buy offer transaction in the exact same day all right there’s then an overnight charge charged or even if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one utilize which means you’re really buying the exact asset rather than using utilize anyhow you will not get hit with these fees but these fees are if you’re utilizing leverage and cfds and then you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you go into the assistance section this isn’t the overnight costs information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that just applies as i said to cfds there are some service charges obviously depending on what you are investing in too this is on your own so keep that in mind but full costs are entirely within their aid info alright and we spoke about as well as totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of in fact utilizing these copy works they do not have any additional costs on top of the regular fees that
exist now what you need to remember though is these potentially handled by other individuals totally or in some cases have produced portfolios you’ve got a real person doing the management you need to make sure you choose the individual that’s right for you similar to any type of work this is your financial assets so we absolutely require to make sure it’s the best person for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a number 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 alternative to invest genuine 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 money 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 utilizing your own cash but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a great option for you again to test the theories all right you might wish to purchase tesla or apple or this etf why not use the virtual alternative as a method to type of safe have fun with it certainly you might have missed out on gains and losses during that time obviously if you had invested your genuine money it enables you to construct self-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 really how to copy people and copy portfolios now here’s something to remember prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i indicate by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just suggests am i all right with possibly losing an excellent amount of this investment or acquiring as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose money but that equally suggests they’ll lose at some time in their journey certainly individuals do earn money as well and i’ve got videos all about how you can ensure you’re one of individuals to actually earn money but in this scenario make certain you research your risk level would you be fine providing your cash to another person which is successfully what you’re doing and trusting them ensure you comprehend what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous don’t choose someone who’s entirely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact use this too truly quickly over here you can copy individuals now it will give you a lot of options and you can use the system to really search for someone that you expensive really following so let’s see maybe we desire someone from united kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good amount and i can find everyone who has met that criteria and it does offer you a risk factor as well so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a number of people 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 somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way 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 verify are you all right with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she actually investing in 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 good to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got some of mine actually that i buy too which is good so actually for me knowing what i like to invest in 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 chooses she’s likewise got a little bit more um of the type of main food business and you have actually got you understand pharmaceutical and production business as that. How Do I Close A Etoro Account.
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