On this post you’ll find the answer to Etoro Money App….Questions that i hear from brand-new investors what if you’re brand new to investing you just do not wish to decide what you actually wish to invest and you want someone to do it for you there’s only a number of ways that that can occur the to start with you can hire a financial investment portfolio manager they’ll usually charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 remember this platform is rather advanced you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform don’t simply presume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you actually get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something because that individual has stated they’ve made revenue 14 months in a row invest in these options since you think is the right ones for you which being stated let’s dive straight in [Music] so the important 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 aspect that is most likely.
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well-known for it’s the option to see what other traders are doing unbelievable we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests 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 charges included truly critical you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then might not charge you for really buying and selling funds or etfs specific commodities private 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 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 know before you actually begin purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with costs truly important to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling fine so commission fees are complimentary nevertheless there are a couple of other costs the first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk money.
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and it’s automatically 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 products whatever you’re offering the minimum quantity 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 sure that i’m only withdrawing when i absolutely need to now you might state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those choices that they have a great deal of platforms clearly are totally 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 as soon as every 6 months you know depends totally how you’re investing however that is a charge to remember the 2nd charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that matches 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 using trading two and two open market anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually 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 give me us dollars instead you need to pay their charges now the great feature of however when you’ve converted your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests 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 additional fees so that’s actually good utilizing that part of their site will not definitely limit you in any way however we have to know two other fees the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is basically the difference that belongs to the financial investment platform between the buy cost and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that really implies that when you want 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 rate of tesla is the value of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of make money from you whenever you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you say 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 want to offer it which is how they make a little bit of money on those spread costs it’s usually incredibly small it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a little bit money now the last feat is called an
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over night charge now this is truly crucial if you’re in fact using cfds yourself also an over night fee is when you’re refraining from doing that buy sell transaction in the exact 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 cost now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which means you’re in fact buying the exact property instead of utilizing leverage anyhow you won’t get hit with these charges but these costs are if you’re utilizing leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the very same day so let’s say if you go into the assistance area this isn’t the overnight fees details you can see precisely the breakdown and it’ll tell you what are the charges what are the fees 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 added fees obviously depending upon what you are buying also this is on your own so keep that in mind however full fees are entirely within their help details alright and we talked about in addition to totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of actually utilizing these copy functions they don’t have any extra costs on top of the typical costs that
exist now what you require to bear in mind though is these potentially managed by other people completely or in some cases have actually created portfolios you have actually got a genuine individual doing the management you have to ensure you pick the individual that’s right for you just like any kind of work this is your financial assets so we absolutely require to make sure it’s the right person for us before 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 various alternatives for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option 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 money that you’re investing you will not need to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine money perhaps this is a terrific choice for you once again to check the theories okay you may want to purchase tesla or apple or this etf why not use the virtual alternative as a way to type of safe have fun with it certainly you might have lost out on gains and losses throughout that time naturally if you had invested your genuine money it allows you to develop self-confidence understand the platform so that’s one alternative 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 people and copy portfolios now here’s something to bear in mind before you choose somebody 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 indicate 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 risk just indicates am i fine with potentially losing a great quantity of this investment or acquiring as
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well now remember everything is downs and ups you will make money you’ll lose money that’s why they make the statistic 75 people will lose money but that equally implies they’ll lose at some point in their journey clearly people do make money too and i have actually got videos all about how you can make certain you’re one of the people to in fact earn money however in this scenario make certain you research study your risk level would you be okay giving your cash to another person which is successfully what you’re doing and trusting them make sure you understand what they’re buying totally if you’re someone who isn’t wanting to be that risky don’t pick 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 standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can in fact utilize this too really quickly over here you can copy individuals now it will give you a great deal of options and you can use the system to in fact search for somebody that you elegant actually following so let’s see possibly we desire somebody from joined kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good quantity and i can discover everybody who has actually fulfilled that criteria and it does offer you a danger factor 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 quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to verify are you fine with this and off you go now another method to actually 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 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 good to know ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got a few of mine really that i purchase too which is excellent so actually for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s also got a little bit more um of the type of main food business and you have actually got you understand pharmaceutical and production business as that. Etoro Money App.
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