On this post you’ll find the answer to Etoro Change Currency….Questions that i speak with brand-new investors what if you’re brand new to investing you simply do not want to decide what you in fact want to invest and you want somebody to do it for you there’s only a number of manner ins which that can take place the first of all you can work with an investment portfolio supervisor they’ll generally charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are produced 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 as well 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 in fact having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you in fact get utilized to the structure of the site and after that when you’re ready to use your own cash 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 purchasing real companies if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something because that person has actually stated they have actually made earnings 14 months in a row buy these options because you think is the right ones for you which being stated let’s dive directly in [Music] so 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 element that is probably.
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well-known for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for example 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 fees involved actually critical you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no charge sites then may not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 know before you in fact start investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs really crucial to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling alright so commission fees are totally free however there are a couple of other fees the first one is withdrawal fees so you can obviously put cash in now if you remain in the uk we put our uk cash.
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and it’s automatically 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 offer your commodities 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 of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state all right that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those options that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends entirely how you’re investing however that is a charge to remember the second fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that matches me.
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a great deal of my stocks are us dollar stocks anyway 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 charge now when you utilize anybody so if you’re using trading two and 2 open market anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually giving 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 fees now the great aspect of however when you have actually transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy 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 really excellent using that part of their site will not definitely limit you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread costs fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is basically the distinction that is part of the financial investment platform in between the buy cost and the sale price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that actually means that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me show you that again so the current cost of tesla is the value of a share what’s called spread costs is the distinction then actually to purchase that share on the platform and you’ll find this all over this is another way that they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind undoubtedly 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 state alright well why does that happen it just 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 wish to sell it which is how they make a little bit of cash on those spread charges it’s usually incredibly 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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overnight charge now this is really important if you’re actually utilizing cfds yourself too an overnight fee is when you’re not doing that buy offer deal in the exact same day alright there’s then an overnight charge charged and even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one take advantage of which suggests you’re actually buying the exact possession instead of using utilize anyway you won’t get hit with these costs however these charges are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy offering in the exact same day so let’s say if you enter into the aid area this isn’t the over night charges details you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only uses as i said to cfds there are some surcharges obviously depending upon what you are investing in as well this is on your own so keep that in mind however full costs are entirely within their assistance info okay and we spoke about as well as free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of in fact utilizing these copy functions they don’t have any additional fees on top of the normal fees that
are there now what you need to bear in mind though is these possibly handled by other individuals completely or often have actually developed portfolios you have actually got a real individual doing the management you need to make sure you pick the individual that’s right for you similar to any kind of work this is your financial properties so we definitely require to make certain it’s the right individual for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a number of different 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 alternative to invest real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t require to put in your charge card details or anything you can basically have this virtual portfolio imitate as if you are using your own cash however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money perhaps this is a great option for you once again to evaluate the theories alright you might wish to buy tesla or apple or this etf why not use the virtual option as a way to sort of safe play with it certainly you might have missed out on gains and losses during that time of course if you had actually invested your genuine money 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 in fact how to copy individuals and copy portfolios now here’s something to keep in mind prior to you pick someone 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 undoubtedly 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 simply indicates am i fine with potentially losing a good amount of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the figure 75 individuals will lose money however that equally implies they’ll lose at some point in their journey obviously people do generate income as well and i’ve got videos all about how you can make sure you’re one of the people to in fact earn money however in this scenario make certain you research study your danger level would you be okay providing your money to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re somebody who isn’t wanting to be that dangerous don’t pick somebody who’s entirely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong products
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like gold or perhaps oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can really use this too truly easily over here you can copy individuals now it will provide you a great deal of choices and you can use the system to really search for someone that you fancy actually following so let’s see possibly we desire somebody from unified kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has satisfied that requirements and it does offer you a danger element too so it tends to be the greater the number the more riskier they are with their stock investing now certainly 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 suggest somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to validate are you fine with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can in fact 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 bit so that’s great 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 actually that i invest in too which is excellent so actually for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s also got a bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. Etoro Change Currency.
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