On this post you’ll find the answer to Does Etoro Require Id….Questions that i speak with new investors what if you’re brand new to investing you simply do not wish to choose what you really want to invest and you want someone to do it for you there’s only a number of ways that that can happen the first of all you can hire a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is of course you can buy mutual funds particular funds are created 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 too now if you’re brand new to an overall please keep in mind this platform is quite sophisticated you can do cfds which of course cfds are methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t just assume since i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you actually get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they have actually made revenue 14 months in a row buy these choices since you believe is the ideal ones for you which being said 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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famous for it’s the choice to see what other traders are doing unbelievable we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means if for instance 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 likewise cover is the charges involved truly crucial you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 some of the no fee websites then may not charge you for really buying and selling etfs or funds specific commodities specific stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges 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 in fact begin buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually essential to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling alright so commission charges are complimentary however there are a couple of other fees the very first one is withdrawal fees so you can obviously put cash in now if you’re 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 wish to withdraw your money 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 5 dollars per withdrawal so for me obviously 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 quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among those choices that they have a great deal of platforms certainly are totally free 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 6 months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative 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 anyway 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 cost now when you utilize anyone so if you’re using trading 2 and 2 open market anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge 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 haggle with them you can’t go to the bank and say give me us dollars rather you have to pay their costs now the fantastic feature of however when you have actually transformed your cash you do not have to invest it right away that dollar value can being 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 occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great using that part of their site won’t definitely restrict you in any way nevertheless we need to know 2 other fees the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you
on is basically the distinction that belongs to the financial investment platform in between the buy cost and the list price fine 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 worth 599 per share in tesla that really indicates that when you want to sell or purchase as you can see it’s not the price you’re seeing up here let me reveal you that again so the current rate of tesla is the value of a share what’s called spread fees is the distinction then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you state fine well why does that occur it simply 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 want to offer it which is how they make a bit of money on those spread charges it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a little bit cash now the last task is called an
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overnight charge now this is really important if you’re really using cfds yourself as well an overnight cost is when you’re not doing that buy offer deal in the same day all right there’s then an overnight cost charged and even if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one leverage which implies you’re in fact buying the specific asset rather than using take advantage of anyhow you won’t get hit with these charges however these fees are if you’re using leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s state if you go into the assistance area this isn’t the overnight fees info you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that just applies as i stated to cfds there are some additional charges of course depending upon what you are buying too this is on your own so keep that in mind but full charges are entirely within their aid info fine and we discussed in addition to complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of in fact utilizing these copy operates they don’t have any additional charges on top of the normal charges that
are there now what you require to remember though is these possibly handled by other individuals completely or in some cases have produced portfolios you have actually got a real person doing the management you need to make sure you pick the person that’s right for you just like any type of work this is your financial properties so we absolutely require to make sure it’s the right person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a number of different options 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 genuine money or a virtual platform virtual means 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 generally have this virtual portfolio imitate as if you are using your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash maybe this is a fantastic alternative for you once again to evaluate the theories all right you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe have fun with it certainly you might have missed out on gains and losses throughout that time of course if you had actually invested your genuine money it enables you to develop 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 pick someone 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 mean by that undoubtedly 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 implies am i alright with potentially losing a great quantity of this financial investment or acquiring as
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well now keep in mind everything is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose cash but that equally indicates they’ll lose at some time in their journey clearly people do make money as well and i have actually got videos all about how you can ensure you are among individuals to actually earn money however in this situation ensure you research your danger level would you be okay giving your money to another person which is efficiently what you’re doing and trusting them ensure you understand what they’re purchasing totally if you’re somebody who isn’t wanting to be that dangerous do not select somebody who’s totally into crypto or currency conversion think about it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you may not want 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 utilize this too truly easily over here you can copy people now it will offer you a great deal of options and you can use the system to in fact look for someone that you elegant actually following so let’s see perhaps we want someone from joined kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has actually fulfilled that criteria 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 obviously there are a variety of people that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they might 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 fine with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she in fact 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 excellent to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is excellent so really for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s also got a little bit more um of the sort of primary food companies and you have actually got you understand pharmaceutical and production business as that. Does Etoro Require Id.
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