We get htis a lot on our site the answer to Why Can’t We Use Etoro….Concerns that i hear from new financiers what if you’re brand new to investing you merely do not wish to choose what you in fact want to invest and you want someone to do it for you there’s only a number of manner ins which that can take place the firstly you can hire an investment portfolio supervisor they’ll typically charge a rather 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 buy mutual funds particular funds are produced once 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 also now if you’re brand new to a total please bear in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods 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 don’t just presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real business if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not simply do something since that individual has said they’ve made earnings 14 months in a row buy these options because you think is the best ones for you and that being stated 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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well-known for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved actually critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero charge websites then might not charge you for actually buying and selling etfs or funds private commodities individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 know before you actually start investing in copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges really important to understand these now on there’s a couple of charges there isn’t fees to do with actually buying and selling okay so commission charges are complimentary nevertheless there are a couple of other costs the very first one is withdrawal fees 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 immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you may say alright that’s rather costly and i get that but 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 options that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing but that is a fee to remember the 2nd charge that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’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 buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and 2 open market anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they actually giving you in regards to 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 have to pay their costs now the excellent feature of though when you’ve converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform 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 really good utilizing that part of their website won’t certainly limit you in any way however we need to be aware of two other costs the very first being what’s called spread charges all right and i’m going to show you what i imply on now a spread cost as i’m going to reveal you
on is basically the distinction that becomes part of the investment platform in between the buy price and the price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that actually suggests that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me show you that again so the current price of tesla is the value of a share what’s called spread fees is the difference 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 make money from you each time you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you say okay well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a bit of cash on those spread costs it’s usually exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit cash now the last feat is called an
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over night charge now this is truly crucial if you’re actually using cfds yourself as well an over night fee is when you’re not doing that buy sell deal in the exact same day all right there’s then an over night charge charged or even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one utilize which means you’re really purchasing the precise property instead of utilizing utilize anyway you will not get hit with these costs but these fees are if you’re utilizing leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you go into the assistance area this isn’t the overnight fees details 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 surcharges naturally depending upon what you are investing in also this is on your own so keep that in mind but complete costs are completely within their aid details okay and we discussed along with complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that five 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 don’t have any extra costs on top of the normal charges that
exist now what you require to bear in mind though is these possibly handled by other individuals entirely or often have created portfolios you have actually got a real individual doing the management you have to ensure you choose the individual that’s right for you much like any profession this is your financial possessions so we absolutely require to make sure it’s the right individual for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a couple of different options for us first of all 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 ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are using your own cash but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash maybe this is a great alternative for you once again to test the theories alright you might wish 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 undoubtedly you may have lost out on gains and losses during that time of course if you had actually invested your real cash it permits you to develop confidence understand the platform so that’s one option for you then next week and i’m going to return 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 keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i suggest by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just indicates am i all right with potentially losing an excellent amount of this 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 statistic 75 individuals will lose money however that equally means they’ll lose at some time in their journey undoubtedly individuals do generate income as well and i have actually got videos all about how you can ensure you’re one of individuals to actually generate income however in this situation ensure you research study your risk level would you be all right providing your cash to somebody else which is efficiently what you’re doing and trusting them ensure you understand what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous do not pick somebody who’s completely into crypto or currency conversion think about it you ‘d probably want a backbone 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 exact same with who you’re following now as i say you can actually use this too actually easily over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to in fact search for somebody that you fancy actually following so let’s see perhaps we want someone from unified kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has actually fulfilled that requirements and it does offer you a threat aspect too 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 rather high returns
remember it’s like anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no way 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 validate are you okay with this and off you go now another way to actually deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she actually 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 bit so that’s excellent 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 in fact that i buy too which is great so in fact for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s likewise 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. Why Can’t We Use Etoro.
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