We get htis a lot on our site the answer to Is It Okay To Trade On Etoro….Concerns that i speak with brand-new investors what if you’re brand new to investing you just don’t want to decide what you in fact want to invest and you want somebody to do it for you there’s just a couple of manner ins which that can occur the first off you can work with an investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps a couple of percent of your revenues 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 also now if you’re brand new to a total please keep in mind this platform is rather innovative you can do cfds which obviously cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you really get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something since that person has stated they’ve made profit 14 months in a row purchase these choices since you believe is the right ones for you and that 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 element that is probably.
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famous for it’s the choice to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can really say i wish to do exactly what that trader is doing or match that precise portfolio of options and generally every time they make a trade they purchase they offer whatever they do your cash will be mimicked 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 likewise cover is the costs included actually vital you understand what are the costs of this now with any platform there will be some expense to clearly these are real business 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 zero cost websites then might not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
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there’ll be costs 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 show you the charges with in particular in this video the next would be things to know prior to you actually begin purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs truly essential to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling all right so commission costs are totally free nevertheless there are a number of other costs the very first one is withdrawal fees so you can undoubtedly put cash in now if you remain 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 later on however when you wish to withdraw your cash so you offer your shares you offer your commodities 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say okay that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those choices that they have a lot of platforms certainly are complimentary 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 when every six months you know depends completely how you’re investing however that is a fee to bear in mind the second cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even 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 2 and 2 free trade anybody this is basic they have actually i expect stuck with whatever fee 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 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 state offer me us dollars rather you have to pay their fees now the terrific feature of however when you’ve transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent utilizing that part of their site will not certainly restrict you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is essentially the distinction that belongs to the investment platform in between the buy price and the sale price alright 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 in fact suggests that when you want to purchase or offer as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing rate of tesla is the value of a share what’s called spread charges is the distinction then really to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of benefit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you say okay well why does that happen 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 want to sell it which is how they make a bit of money on those spread out fees it’s usually extremely 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 bit cash now the last feat is called an
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overnight fee now this is actually important if you’re really using cfds yourself too an over night fee is when you’re not doing that buy sell deal in the same day all right there’s then an over night cost charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one leverage which suggests you’re really buying the precise possession instead of using utilize anyhow you won’t get hit with these costs but these costs are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the exact same day so let’s state if you enter into the help section this isn’t the over night charges details you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only applies as i said to cfds there are some service charges obviously depending on what you are buying as well this is on your own so keep that in mind however full charges are totally within their assistance info alright and we discussed along with complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of in fact using these copy works they do not have any extra fees on top of the typical charges that
are there now what you require to remember though is these possibly handled by other individuals completely or in some cases have created portfolios you have actually got a genuine individual doing the management you have to make certain you pick the individual that’s right for you just like any type of work this is your financial possessions so we absolutely require to ensure it’s the ideal individual for us prior to 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 various choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real cash or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real cash 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 money however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is a fantastic choice for you again to test the theories alright you may 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 clearly you may have lost out on gains and losses during that time obviously if you had invested your real money it enables you to construct self-confidence understand the platform so that’s one option 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 select somebody 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 alright with potentially losing a great quantity of this financial investment or gaining as
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well now remember whatever is ups and downs you will generate income you’ll lose money that’s why they make the fact 75 individuals will lose money however that equally suggests they’ll lose at some point in their journey obviously people do earn money as well and i have actually got videos everything about how you can make sure you’re one of individuals to really earn money however in this scenario ensure you research your threat level would you be alright giving your cash to somebody else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re purchasing completely if you’re somebody who isn’t wishing to be that risky do not choose somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold or perhaps oil plus more traditional 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 state you can in fact use this too really easily over here you can copy people now it will give you a lot of options and you can utilize the system to actually look for somebody that you elegant actually following so let’s see maybe we desire somebody from united kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has satisfied that requirements and it does provide you a threat aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
bear in mind it’s like 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 might make four or minus 50 there’s no way 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 in fact 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 really purchasing 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 know ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine really that i buy too which is excellent so actually for me understanding what i like to invest in my private 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 also got a little bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production companies as that. Is It Okay To Trade On Etoro.
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