On this post you’ll find the answer to Etoro Correct Answers….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t wish to choose what you really want to invest and you want someone to do it for you there’s only a couple of manner ins which that can happen the first off you can work with a financial investment portfolio manager they’ll generally charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 as well now if you’re brand new to a total please remember this platform is quite sophisticated 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 simply presume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying real companies if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something since that individual has stated they’ve made revenue 14 months in a row purchase these choices because you think is the best ones for you which being stated 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 aspect that is probably.
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famous for it’s the option to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually state 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 cash will be simulated with it so that means if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included truly critical you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero cost websites then may not charge you for in fact buying and selling funds or etfs private products private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and finally some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges really important to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling okay so commission costs are free nevertheless there are a couple of other costs 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 cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state all right that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those alternatives that they have a lot of platforms certainly are complimentary 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 once every six months you understand depends totally how you’re investing however that is a charge to keep in mind the 2nd fee that i have actually discussed 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 anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there 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 state offer me us dollars instead you need to pay their fees now the excellent aspect of however when you have actually transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great using that part of their website won’t certainly restrict you in any way nevertheless we have to understand two other costs the very first being what’s called spread charges okay and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is generally the difference that becomes part of the financial investment platform in between the buy price and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that in fact suggests that when you wish to buy or offer as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present price of tesla is the worth of a share what’s called spread fees is the distinction then really to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of make money from you every time you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to sell so they’re going to provide you less back with your sale and you state all right well why does that occur 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 offer it and that is how they make a bit of money on those spread out charges it’s usually incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit money now the last feat is called an
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overnight fee now this is actually essential if you’re in fact utilizing cfds yourself too an overnight charge is when you’re refraining from doing that buy sell transaction in the exact same day alright there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which implies you’re actually buying the precise possession rather than utilizing take advantage of anyhow you will not get hit with these costs but these fees are if you’re utilizing leverage and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s state if you enter into the help section 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 over night or you’re doing over weekends which only uses as i said to cfds there are some added fees naturally depending on what you are buying too this is on your own so keep that in mind but full costs are entirely within their aid information fine and we discussed as well as free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various ways of actually utilizing these copy functions they do not have any extra costs on top of the typical costs that
are there now what you need to remember though is these possibly handled by other people entirely or sometimes have actually produced portfolios you’ve got a genuine individual doing the management you need to ensure you pick the individual that’s right for you just like any type of work this is your monetary assets so we definitely require to make sure it’s the ideal 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’ve got a couple of various alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine cash 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 charge card information or anything you can generally have this virtual portfolio mimic as if you are using your own cash but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash possibly this is a terrific choice for you once again to evaluate the theories okay you might wish to buy tesla or apple or this etf why not use the virtual alternative as a way to type of safe play with it undoubtedly you might have lost out on gains and losses throughout that time naturally if you had invested your real cash it permits you to build confidence comprehend 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 actually how to copy people and copy portfolios now here’s something to keep in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i mean by that clearly 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 run the risk of simply suggests am i okay with potentially losing an excellent quantity of this investment or gaining as
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well now remember whatever is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 people will lose cash however that similarly implies they’ll lose eventually in their journey clearly individuals do generate income also and i’ve got videos everything about how you can make sure you’re one of individuals to actually earn money however in this situation ensure you research your threat level would you be fine giving your money to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in totally if you’re somebody who isn’t wishing to be that risky do not select someone who’s entirely into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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like gold and even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually use this too truly quickly over here you can copy individuals now it will offer you a lot of choices and you can utilize the system to actually look for someone that you fancy really following so let’s see maybe we want somebody from united kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has actually fulfilled that requirements and it does give you a danger element too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of individuals that have rather high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance 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 verify are you alright 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 really deep dive into what is she actually buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine really that i buy too which is great so in fact for me knowing what i like to buy 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 prefers she’s also got a little bit more um of the type of primary food companies and you’ve got you understand pharmaceutical and production companies as that. Etoro Correct Answers.
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