On this post you’ll find the answer to Etoro Closed My Position Reddit….Questions that i speak with new financiers what if you’re brand new to investing you just do not want to choose what you really want to invest and you desire someone to do it for you there’s only a couple of ways that that can occur the firstly you can employ an investment portfolio manager 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 of course you can buy mutual funds specific funds are produced once 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 remember this platform is rather innovative you can do cfds which of course cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t just assume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you in fact get utilized 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 naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that individual has actually stated they’ve made profit 14 months in a row purchase these options 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 belongs to 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 amazing we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved actually vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine business 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 cost sites then may not charge you for actually buying and selling funds or etfs individual products specific stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 understand before you actually start buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees actually crucial to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling all right so commission fees are totally free nevertheless there are a number of other costs the first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you sell your shares you offer 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just one of those alternatives that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you know depends completely how you’re investing but that is a charge to bear in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that fits 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 excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 open market anybody this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they in fact giving you in regards to 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 provide me us dollars instead you need to pay their costs now the fantastic feature of though when you’ve transformed your money you do not need to invest it right now that dollar value 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 great utilizing that part of their site won’t definitely restrict you in any way however we have to be aware of two other costs the first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you
on is essentially the difference that is part of the financial investment platform between the buy cost and the sale 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 actually indicates that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the current price of tesla is the value of a share what’s called spread fees is the difference then actually to purchase 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 every time you do a buyer’s share so keep that in mind clearly it’s more costly to purchase 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 occur it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a bit of cash on those spread out fees it’s normally incredibly small 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 little bit cash now the last accomplishment is called an
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over night charge now this is really crucial if you’re really using cfds yourself too an overnight cost is when you’re not doing that buy offer transaction in the very same day all right there’s then an overnight charge charged or even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one utilize which indicates you’re actually buying the exact property rather than utilizing leverage anyhow you will not get hit with these fees but these fees are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s state if you go into the help section this isn’t the overnight fees information you can see precisely 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 only applies as i said to cfds there are some added fees of course depending on what you are investing in too this is on your own so keep that in mind but full charges are completely within their assistance details okay and we spoke about in addition to free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of really utilizing these copy works they don’t have any extra charges on top of the regular charges that
are there now what you need to keep in mind though is these potentially handled by other individuals totally or often have actually produced portfolios you have actually got a real person doing the management you need to make sure you select the person that’s right for you similar to any line of work this is your financial assets so we definitely need to make sure it’s the right individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a number of different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your credit card information or anything you can generally have this virtual portfolio imitate as if you are utilizing your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash possibly this is a terrific choice for you again to evaluate the theories all right you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe have fun with it undoubtedly you might have lost out on gains and losses throughout that time of course if you had actually invested your genuine money it allows you to construct self-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 in fact how to copy individuals and copy portfolios now here’s something to remember before you choose someone 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 imply by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk simply indicates am i okay with possibly losing a good 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 cash that’s why they make the statistic 75 individuals will lose money but that equally suggests they’ll lose at some time in their journey clearly people do generate income as well and i have actually got videos all about how you can ensure you’re one of the people to really earn money however in this circumstance make sure you research your threat level would you be alright providing your cash to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re buying totally if you’re someone who isn’t wanting to be that dangerous do not select someone who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong commodities
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like gold or perhaps oil plus more standard 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 in fact utilize this too really easily over here you can copy individuals now it will offer you a great deal of options and you can use the system to actually look for someone that you elegant actually following so let’s see maybe we want someone from joined kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a good quantity and i can discover everybody who has satisfied that requirements and it does give you a threat aspect also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to confirm are you alright 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 actually deep dive into what is she really investing in 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 definitely like kind of into those blue box and the tech industry she’s got a few of mine in fact that i invest in too which is good so actually for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she prefers she’s also got a bit more um of the sort of main food business and you have actually got you know pharmaceutical and production companies as that. Etoro Closed My Position Reddit.
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