We get htis a lot on our site the answer to Reddit Is Etoro Safe….Questions that i hear from new financiers what if you’re brand new to investing you merely do not wish to decide what you really want to invest and you want somebody to do it for you there’s just a number of manner ins which that can happen the firstly you can work with a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly one or two percent of your earnings will go to them the other thing is of course you can purchase mutual funds specific funds are produced 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 an overall please remember this platform is rather advanced you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform do not simply assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you actually get utilized to the structure of the website 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 risk this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they have actually made revenue 14 months in a row purchase these choices since you believe 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 aspect that is most likely.
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well-known for it’s the choice to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved actually crucial you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 absolutely no charge websites then might not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly crucial to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling okay so commission costs are complimentary however there are a couple of other fees the first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell your shares you offer 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 ensure that i’m only withdrawing when i definitely need 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 fees someplace and withdrawal fees are simply one of those options that they have a great deal of platforms undoubtedly 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 understand depends totally how you’re investing however that is a fee to remember the second charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’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 great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and two open market anybody this is basic they have i expect stuck to whatever charge 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 is there what are they in fact giving 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 provide me us dollars rather you need to pay their costs now the great thing about though when you have actually converted your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good utilizing that part of their site won’t definitely limit you in any way however we need to know two other costs the very first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread charge as i’m going to show you
on is basically the distinction that becomes part of the financial investment platform between the buy rate and the price alright 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 offer or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing price of tesla is the worth of a share what’s called spread costs 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 each time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you state all right well why does that happen it just 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 wish to sell it which is how they make a little bit of money on those spread costs it’s generally exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit cash now the last accomplishment is called an
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overnight fee now this is truly crucial if you’re really utilizing cfds yourself also an over night fee is when you’re not doing that buy offer transaction in the same day alright there’s then an over night fee charged and even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which suggests you’re really buying the specific property instead of using leverage anyway you will not get hit with these charges however these costs are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy offering in the same day so let’s state if you enter into the assistance area this isn’t the over night charges information you can see precisely 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 uses as i stated to cfds there are some added fees obviously depending upon what you are purchasing also this is on your own so keep that in mind but complete costs are completely within their aid info fine and we spoke about as well as totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of in fact using these copy works they don’t have any additional charges on top of the typical costs that
are there now what you require to bear in mind though is these possibly managed by other people entirely or in some cases have actually produced portfolios you have actually got a genuine person doing the management you have to ensure you pick the individual that’s right for you much like any kind of work this is your monetary properties so we definitely require to ensure it’s the best person for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of various choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual methods i believe 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 information or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money possibly this is an excellent option for you once again to evaluate the theories okay you may want to purchase tesla or apple or this etf why not utilize the virtual option as a method to sort of safe have fun with it obviously you might have missed out on gains and losses during that time naturally if you had actually invested your genuine money it permits you to construct confidence comprehend 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 actually how to copy individuals and copy portfolios now here’s something to remember before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i suggest by that clearly 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 simply suggests am i okay with possibly losing a good quantity of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the fact 75 people will lose money however that equally implies they’ll lose at some point in their journey certainly individuals do earn money as well and i have actually got videos everything about how you can ensure you’re one of the people to in fact earn money however in this situation ensure you research study your danger level would you be okay providing your money to someone else which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying totally if you’re somebody who isn’t wishing to be that risky do not pick somebody who’s totally into crypto or currency conversion think about it you ‘d most likely want a backbone of strong products
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like gold and even oil plus more standard etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can really utilize this too actually easily over here you can copy people now it will offer you a great deal of options and you can utilize the system to really look for someone that you fancy in fact following so let’s see perhaps we desire someone from united kingdom um who invests in let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can find everyone who has fulfilled that requirements and it does offer you a risk factor also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not suggest somebody 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 basic as clicking the copy button and off you go and after that you understand ask you to validate 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 really deep dive into what is she actually buying 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 absolutely like sort of into those blue box and the tech industry she’s got some of mine really that i buy too which is good so in fact for me knowing 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 seems to be what she chooses she’s also got a little bit more um of the kind of main food business and you’ve got you know pharmaceutical and production business as that. Reddit Is Etoro Safe.
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