On this post you’ll find the answer to Etoro Transfer Money Between….Questions that i hear from new financiers what if you’re brand new to investing you just do not want to decide what you in fact wish to invest and you want somebody to do it for you there’s just a number of manner ins which that can take place the firstly you can hire an investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is obviously you can purchase mutual funds specific funds are created 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 too now if you’re brand new to an overall please remember this platform is quite advanced you can do cfds which of course cfds are ways of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t just assume because i use it that you can use 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 actually get used to the structure of the site and after that when you’re ready to utilize your own money 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 purchasing genuine companies if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row buy these options because you think is the best ones for you and that being stated let’s dive straight in [Music] so the important 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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popular for it’s the choice to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests 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 also cover is the costs involved actually vital you understand what are the expenses of this now with any platform there will be some cost to undoubtedly 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 a few of the no fee websites then may not charge you for really buying and selling funds or etfs individual commodities specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you really begin purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs actually essential to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling fine so commission fees are totally free nevertheless there are a number of other fees the very first one is withdrawal costs 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 instantly 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 offer your shares you sell your products 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say fine that’s quite expensive and i get that but 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 options that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends totally how you’re investing but that is a cost to keep in mind the second charge that i’ve touched upon is that conversion cost 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 lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying 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 2 and two open market anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually 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 say provide me us dollars instead you have to pay their fees now the great thing about though when you have actually transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase 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 truly excellent using that part of their website won’t certainly limit you in any way however we have to know two other costs the first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you
on is basically the distinction that belongs to the financial investment platform in 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 site today tesla’s dollar worth 599 per share in tesla that actually suggests that when you wish to offer or buy as you can see it’s not the rate you’re seeing up here let me show you that once again so the existing price of tesla is the worth of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll find this all over this is another manner in which they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind certainly it’s more costly to purchase than it is to offer so they’re going to give 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 want to sell it which is how they make a little bit of money on those spread out charges it’s normally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a bit money now the last accomplishment is called an
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over night fee now this is really important if you’re really using cfds yourself also an over night charge is when you’re refraining from doing that buy sell deal in the very same day all right there’s then an over night fee charged or even if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one leverage which implies you’re actually buying the precise possession instead of utilizing leverage anyway you won’t get hit with these charges but these fees are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you enter into the help section this isn’t the overnight charges info 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 stated to cfds there are some added fees naturally depending on what you are investing in also this is on your own so keep that in mind however full fees are totally within their assistance information okay and we discussed as well as complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various methods of really using these copy operates they do not have any extra costs on top of the regular charges that
exist now what you require to keep in mind though is these potentially managed by other people entirely or often have developed portfolios you have actually got a genuine individual doing the management you have to make certain you pick the person that’s right for you similar to any kind of work this is your monetary properties so we absolutely require to ensure it’s the right person for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve 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 option to invest real cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are using your own money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is a terrific option for you once again to evaluate the theories okay you may want to buy tesla or apple or this etf why not use the virtual option as a method to type of safe have fun with it certainly you may have lost out on gains and losses throughout that time naturally if you had actually invested your real cash it permits you to develop self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my real 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 prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i mean by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply implies am i fine with possibly losing a good quantity of this financial investment or acquiring as
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well now keep in mind whatever is downs and ups you will make money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that similarly means they’ll lose eventually in their journey certainly people do make money too and i’ve got videos all about how you can ensure you’re one of the people to really make money however in this scenario ensure you research your risk level would you be all right offering your money to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re someone who isn’t wanting to be that risky don’t pick someone who’s completely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact use this too truly quickly over here you can copy people now it will provide you a great deal of choices and you can use the system to in fact look for someone that you elegant in fact following so let’s see maybe we desire somebody from united kingdom um who purchases let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has satisfied that criteria and it does give you a danger factor as well 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
keep in mind it resembles anything to do with the news or predictions of the future this does not mean somebody 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 verify are you okay with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she in fact investing in so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s certainly 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 excellent so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the sort of main food business and you have actually got you know pharmaceutical and production business as that. Etoro Transfer Money Between.
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