On this post you’ll find the answer to Etoro Answers 2021….Concerns that i speak with new financiers what if you’re brand new to investing you merely do not wish to choose what you in fact wish to invest and you want someone to do it for you there’s just a couple of ways that that can take place the first of all you can work with an investment portfolio manager they’ll typically charge a rather a high premium to do that possibly one or two 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 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 rather advanced you can do cfds which naturally cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i use 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 as well so you really get used 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 of course your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something since that individual has said they’ve made profit 14 months in a row purchase these choices because you think is the best ones for you which being said let’s dive directly in [Music] so the 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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popular for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really say i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates 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 costs involved really crucial you comprehend what are the expenses of this now with any platform there will be some cost to clearly 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 in fact buying and selling etfs or funds individual products individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with fees truly crucial to understand these now on there’s a couple of charges there isn’t charges to do with really buying and selling all right so commission fees are totally free however there are a couple of other costs the very first one is withdrawal costs so you can clearly put money in now if you’re 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 later on however when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount 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 make certain that i’m only withdrawing when i absolutely require to now you may say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just among those options that they have a great deal of platforms clearly 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 when every 6 months you know depends totally how you’re investing but that is a cost to remember the 2nd charge that i have actually 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 great that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they actually 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 need to pay their charges now the fantastic thing about though when you have actually converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good using that part of their website won’t definitely restrict you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread cost as i’m going to show you
on is basically the difference that belongs to the investment platform in between the buy cost and the price alright 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 value 599 per share in tesla that in fact implies that when you want to buy or sell as you can see it’s not the rate you’re seeing up here let me show you that again so the existing rate of tesla is the value of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more pricey to buy than it is to offer so they’re going to offer you less back with your sale and you state fine well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you want to offer it and that is how they make a bit of cash on those spread fees it’s typically exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a bit money now the last feat is called an
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over night fee now this is really important if you’re really utilizing cfds yourself as well an over night charge is when you’re refraining from doing that buy offer deal in the very same day all right there’s then an over night fee charged and even if you go from the friday to the monday prior to cruising a weekend charge 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 suggests you’re in fact buying the exact possession instead of utilizing take advantage of anyhow you won’t get hit with these costs but these fees are if you’re utilizing utilize and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you go into the help area this isn’t the overnight costs details you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only uses as i stated to cfds there are some surcharges obviously depending upon what you are purchasing also this is on your own so keep that in mind however full charges are totally within their help details okay and we discussed along with totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of actually using these copy operates they do not have any additional fees on top of the typical fees that
are there now what you need to keep in mind though is these potentially handled by other individuals entirely or in some cases have produced portfolios you have actually got a real person doing the management you need to make certain you select the individual that’s right for you much like any kind of work this is your monetary assets so we definitely need to ensure it’s the ideal person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the choice 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 money that you’re investing you will not require to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own money but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash maybe this is a fantastic alternative for you once again to test the theories all right you may wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it obviously you might have missed out on gains and losses during that time obviously if you had actually invested your genuine money it permits you to construct confidence comprehend the platform so that’s one choice 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 people and copy portfolios now here’s something to keep in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand 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 means am i alright with possibly losing a good amount of this financial investment or gaining as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 people will lose money but that similarly indicates they’ll lose at some point in their journey obviously individuals do generate income too and i have actually got videos all about how you can ensure you are among the people to in fact earn money however in this situation make sure you research study your threat level would you be alright offering your money to someone else which is successfully what you’re doing and trusting them make certain you comprehend what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous don’t pick someone who’s entirely into crypto or currency conversion think about 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 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 really use this too truly easily over here you can copy people now it will provide you a great deal of options and you can utilize the system to in fact search for someone that you fancy really following so let’s see possibly we desire someone from joined kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has actually met that requirements and it does give you a danger aspect as well 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 individuals 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 mean somebody 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 simple as clicking the copy button and off you go and then you understand ask you to validate are you fine with this and off you go now another method 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 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 understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got some of mine really that i buy too which is excellent so in fact for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s likewise got a little bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production companies as that. Etoro Answers 2021.
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