On this post you’ll find the answer to Do I Want To Give Etoro My Social Security Number….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just don’t want to decide what you actually wish to invest and you want someone to do it for you there’s only a number of ways that that can take place the first off you can work with an investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are developed 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 bear in mind this platform is rather innovative you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform do not just presume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you in fact get used to the structure of the site and then when you’re ready to use 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 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 risk and we need to bear that in mind do not simply do something since that individual has actually stated they have actually made revenue 14 months in a row purchase these options since you think is the ideal 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 most likely.
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famous for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved actually crucial you comprehend what are the expenses 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 involved and even a few of the zero cost websites then might not charge you for in fact buying and selling funds or etfs individual commodities individual 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 type of charges 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 actually begin investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with fees really essential to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling fine so commission charges are complimentary nevertheless there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering 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 ensure that i’m just withdrawing when i absolutely need to now you might say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you know depends totally how you’re investing however that is a fee to keep in mind the 2nd cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and two open market anybody this is standard they have actually i expect stuck to whatever charge 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 cost exists what are they really 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 state provide me us dollars rather you have to pay their charges now the terrific feature of however when you have actually converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really great using that part of their website will not definitely limit you in any way however we need to be aware of two other charges the very first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is essentially the difference that belongs to the investment platform between the buy rate 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 site right now tesla’s dollar value 599 per share in tesla that really suggests that when you wish to offer or buy as you can see it’s not the rate you’re seeing up here let me show you that again so the present cost of tesla is the worth of a share what’s called spread costs is the distinction then in fact to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you say all right well why does that happen 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 and that is how they make a little bit of money on those spread out fees it’s generally extremely little 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 bit money now the last feat is called an
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over night fee now this is actually crucial if you’re actually using cfds yourself also an over night cost is when you’re refraining from doing that buy offer deal in the very same day fine there’s then an over night charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which means you’re actually purchasing the exact property instead of using utilize anyhow you won’t get hit with these fees but these charges are if you’re utilizing utilize 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 section this isn’t the over night fees details you can see exactly 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 and that only uses as i said to cfds there are some additional charges of course depending on what you are buying as well this is on your own so keep that in mind however complete costs are completely within their aid information okay and we spoke about along with complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of in fact utilizing these copy works they do not have any extra costs on top of the normal fees that
are there now what you require to bear in mind though is these potentially managed by other people totally or in some cases have actually created portfolios you have actually got a real individual doing the management you have to make sure you select the individual that’s right for you just like any line of work this is your monetary possessions so we definitely need to make certain it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of various alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own money but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money possibly this is a great choice for you once again to evaluate the theories all right you may want to buy tesla or apple or this etf why not use the virtual option as a way to type of safe have fun with it obviously you might have missed out on gains and losses throughout that time of course if you had actually invested your genuine money it allows you to build confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy people 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 ensure you understand what your threat profile is now what do i indicate by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk simply indicates am i alright with possibly losing an excellent quantity of this financial investment or gaining 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 figure 75 people will lose cash however that equally suggests they’ll lose at some point in their journey clearly people do earn money too and i’ve got videos everything about how you can make certain you are among individuals to actually earn money but in this situation make sure you research study your danger level would you be alright providing your money to another person which is effectively 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 of it you ‘d probably desire a foundation of strong commodities
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like gold and even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually use this too truly easily over here you can copy people now it will offer you a great deal of choices and you can use the system to in fact look for someone that you elegant really following so let’s see maybe we want somebody from united kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has satisfied that requirements and it does provide you a threat element 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 variety of people that have rather high returns
bear 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 other way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to validate are you fine with this and off you go now another way to actually deep dive if we click this person for example ruby mza as an example you can actually 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 excellent to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is great so in fact for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production companies as that. Do I Want To Give Etoro My Social Security Number.
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