On this post you’ll find the answer to Etoro Hmrc….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t want to decide what you actually wish to invest and you desire somebody to do it for you there’s just a couple of ways that that can happen the firstly you can work with an investment portfolio supervisor they’ll normally charge a rather a high premium to do that maybe one or two percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular funds are created 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 an overall please remember this platform is quite advanced you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning about please do study the platform do not just presume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you actually get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other people’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something because that person has actually stated they have actually made earnings 14 months in a row buy these choices since you think is the ideal ones for you and that being stated 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 aspect that is probably.
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famous for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that indicates if for instance 10 of their 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 costs included really important you understand what are the costs of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no fee websites then might not charge you for actually buying and selling etfs or funds individual products private stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 prior to you really start buying copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with fees actually crucial to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling all right so commission charges are free nevertheless there are a number of other charges the first one is withdrawal costs so you can obviously put money 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 commodities whatever you’re selling 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 make certain that i’m just withdrawing when i definitely need to now you may say all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply one of those choices that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends completely how you’re investing however that is a cost to keep in mind the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative 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 buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they really giving 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 offer me us dollars instead you need to pay their fees now the fantastic thing about though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really good using that part of their site won’t certainly restrict you in any way however we have to know 2 other charges the very first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you
on is essentially the distinction that becomes part of the investment platform in between the buy rate and the price all right 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 wish to purchase or sell as you can see it’s not the price you’re seeing up here let me reveal you that once again so the existing rate of tesla is the value of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of profit from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you state okay 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 sell 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 but that’s one place every investment company will once again make a little bit money now the last task is called an
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over night fee now this is really important if you’re actually utilizing cfds yourself too an over night charge is when you’re not doing that buy offer transaction in the exact same day okay there’s then an overnight charge charged and even 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 in fact buying out the etf the stock the product and using time one take advantage of which suggests you’re actually buying the specific property rather than using take advantage of anyway you won’t get hit with these costs but these charges are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s say if you go into the help section this isn’t the over night charges info you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that just uses as i said to cfds there are some surcharges naturally depending on what you are buying as well this is on your own so keep that in mind however full fees are totally within their help details fine and we discussed as well as free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of in fact using these copy operates they do not have any extra fees on top of the typical costs that
are there now what you need to remember though is these possibly handled by other people totally or sometimes have created portfolios you have actually got a genuine individual doing the management you have to make sure you choose the individual that’s right for you much like any kind of work this is your monetary assets so we absolutely require to make certain it’s the right person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a number 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 alternative to invest real cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your charge card details or anything you can generally have this virtual portfolio simulate as if you are using your own money but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash maybe this is a great option for you again to test the theories fine you may 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 obviously you may have lost out on gains and losses throughout that time of course if you had invested your real cash it allows you to build 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 really how to copy individuals and copy portfolios now here’s something to keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i indicate by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply indicates am i okay with possibly losing a great amount of this investment or acquiring as
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well now remember everything is downs and ups you will generate income you’ll lose money that’s why they make the fact 75 individuals will lose cash however that similarly means they’ll lose at some time in their journey obviously individuals do earn money too and i have actually got videos all about how you can make sure you’re one of the people to really earn money however in this situation make sure you research your danger level would you be all right offering your cash to another person which is successfully what you’re doing and trusting them ensure you understand what they’re purchasing totally if you’re somebody who isn’t wishing to be that risky do not pick somebody who’s totally into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong commodities
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like gold and even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually utilize this too truly easily over here you can copy individuals now it will offer you a lot of options and you can utilize the system to really search for somebody that you elegant really following so let’s see perhaps we want someone from united kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everybody who has actually fulfilled that criteria and it does give you a danger element 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 rather high returns
remember it resembles anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to ensure 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 verify are you alright with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she really purchasing so let’s go into portfolio and you can see she’s rather 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 market she’s got some of mine in fact that i invest in too which is excellent so really for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s also got a bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production business as that. Etoro Hmrc.
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