On this post you’ll find the answer to Can Etoro Make You Rich….Questions that i speak with brand-new financiers what if you’re brand new to investing you just don’t want to decide what you really want to invest and you want someone 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 generally 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 obviously you can buy 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 keep in mind this platform is quite sophisticated you can do cfds which of course cfds are ways of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform don’t just presume because i utilize 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 consider that option too so you really 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 obviously your capital is at risk this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has said they’ve made profit 14 months in a row purchase these options because you believe is the best ones for you and that being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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well-known for it’s the option 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 therefore that indicates with our cash we can really say i wish to do exactly what that trader is doing or match that specific 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 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 also cover is the charges involved actually important you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost sites then might not charge you for really buying and selling etfs or funds individual products specific 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 fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you actually start investing in copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges truly crucial to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling fine so commission charges are complimentary nevertheless there are a number of other costs the first one is withdrawal charges so you can clearly put cash in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell your shares you sell 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 of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those alternatives that they have a lot of platforms certainly are totally free 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 as soon as every six months you know depends totally how you’re investing however that is a cost to bear in mind the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent 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 two open market anybody this is standard they have i suppose stuck with whatever charge 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 is there 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 offer me us dollars instead you have to pay their charges now the terrific aspect of though when you have actually converted your cash you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 extra costs so that’s actually good utilizing that part of their website won’t definitely limit you in any way however we have to know two other fees the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is essentially the difference that belongs to the investment platform between the buy cost and the list price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really implies that when you wish to purchase or offer as you can see it’s not the rate you’re seeing up here let me show you that once again so the current cost of tesla is the value of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll find this all over this is another manner in which they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind certainly it’s more expensive 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 occur it just 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 sell it and that is how they make a little bit of money on those spread out costs it’s normally incredibly little it could be a matter of pens matter of cents in there but 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 cost now this is really important if you’re in fact using cfds yourself as well an overnight cost is when you’re not doing that buy offer transaction in the same day fine 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 just applies to cfds so if you’re actually buying out the etf the stock the product and using time one take advantage of which implies you’re really buying the specific asset instead of utilizing utilize anyway you will not get hit with these fees but these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s state if you go into the help section this isn’t the overnight charges information you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which only applies as i stated to cfds there are some added fees naturally depending upon what you are buying too this is on your own so keep that in mind but complete charges are completely within their help details all right and we spoke about in addition to totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 various ways of actually using these copy operates they do not have any extra charges on top of the normal charges that
are there now what you need to keep in mind though is these possibly managed by other people entirely or sometimes have created portfolios you have actually got a real person doing the management you need to make certain you pick the individual that’s right for you just like any type of work this is your financial properties so we absolutely require to make certain 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 options for us first off if you’re brand new to investing i want to draw your attention to this within you have the option to invest real 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 cash that you’re investing you will not require to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are using your own cash but really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is an excellent alternative for you once again to test the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a method to sort of safe have fun with it clearly you might have lost out on gains and losses during that time of course if you had invested your genuine money it enables you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to remember 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 danger profile is now what do i suggest by that certainly 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 suggests am i all right with potentially losing a good amount of this investment or getting as
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well now remember whatever is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 people will lose money but that equally indicates they’ll lose at some time in their journey undoubtedly people do make money too and i’ve got videos everything about how you can ensure you are among individuals to in fact earn money however in this situation ensure you research study your threat level would you be all right offering your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying completely if you’re somebody who isn’t wishing to be that dangerous don’t select someone who’s completely into crypto or currency conversion consider it you ‘d probably want a foundation of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you might 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 actually use this too truly quickly over here you can copy individuals now it will provide you a great deal of options and you can use the system to really search for somebody that you fancy in fact following so let’s see perhaps we desire someone from unified kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds a good amount and i can find everyone who has actually met that criteria and it does provide you a danger factor too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they could make 4 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 all right with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she really buying 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 great to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine really that i invest in too which is excellent so really for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she prefers she’s likewise got a bit more um of the type of primary food business and you’ve got you know pharmaceutical and production companies as that. Can Etoro Make You Rich.
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