On this post you’ll find the answer to How To Use Etoro Openbook….Concerns that i hear from new financiers what if you’re brand new to investing you merely don’t wish to decide what you in fact wish to invest and you desire somebody to do it for you there’s only a number of manner ins which that can happen the to start with you can employ a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps one or two 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 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 obviously cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something since that individual has stated they have actually made revenue 14 months in a row invest in these options since you think is the best ones for you and that being stated let’s dive directly in [Music] The 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 probably.
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popular for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really state i want to do exactly what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they buy they sell whatever they do your money will be simulated with it so that means if for instance 10 of their financial 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 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 business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no charge websites then may not charge you for in fact buying and selling funds or etfs individual products specific stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with costs truly crucial to comprehend these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission fees are free nevertheless there are a number of other charges the very first one is withdrawal costs so you can clearly put money 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 however when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing however that is a fee to bear in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that matches me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they actually offering 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 provide me us dollars rather you need to pay their fees now the great thing about though when you have actually converted your money you do not have to invest it immediately that dollar worth can being 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 happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good using that part of their website will not certainly limit you in any way however we have to know two other costs the first being what’s called spread charges all right and i’m going to show you what i imply on now a spread fee as i’m going to show you
on is generally the difference that becomes part of the investment platform 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 right now tesla’s dollar worth 599 per share in tesla that really means that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me show you that once again so the current 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 all over this is another manner in which they make a percentage 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 sell so they’re going to provide you less back with your sale and you say okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to offer it which is how they make a bit of money on those spread costs it’s normally extremely little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit money now the last accomplishment is called an
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over night cost now this is really important if you’re really using cfds yourself too an over night charge is when you’re not doing that buy sell transaction in the very same day alright there’s then an overnight charge charged and even if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one leverage which implies you’re in fact buying the specific possession rather than utilizing leverage anyhow you won’t get hit with these fees but these charges are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you enter into the assistance area this isn’t the over night charges info you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that just applies as i stated to cfds there are some surcharges obviously depending upon what you are purchasing also this is on your own so keep that in mind but complete costs are totally within their aid information alright and we discussed in addition to complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of actually utilizing these copy operates they don’t have any additional charges on top of the regular charges that
are there now what you require to bear in mind though is these possibly handled by other individuals completely or often have produced 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 profession this is your financial assets so we definitely need to ensure it’s the ideal person for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various options 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 real money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your credit card details or anything you can essentially have this virtual portfolio simulate 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 comfy with using your genuine money possibly this is a great option for you again to check the theories okay you may wish to purchase tesla or apple or this etf why not use the virtual option as a way to type of safe play with it certainly you may have missed out on gains and losses during that time obviously if you had actually invested your real cash it permits you to build self-confidence understand the platform so that’s one choice for you then next week and i’m going to return 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 before you select 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 risk just implies am i fine with potentially losing a great amount of this investment or gaining as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose money but that equally indicates they’ll lose at some point in their journey obviously individuals do earn money also and i’ve got videos everything about how you can make certain you’re one of the people to in fact earn money however in this situation make sure you research your threat level would you be okay giving your money to somebody else which is effectively what you’re doing and trusting them make certain you understand what they’re investing in totally if you’re somebody who isn’t wanting to be that risky don’t choose someone who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you might not want 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 actually easily over here you can copy individuals now it will give you a lot of options and you can utilize the system to actually search for somebody that you elegant really following so let’s see possibly we want somebody from united kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has actually satisfied that requirements and it does provide you a threat 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 rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not mean 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 basic as clicking the copy button and off you go and then you understand ask you to verify are you all right with this and off you go now another method to really deep dive if we click 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 great to know ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is excellent so in fact for me understanding what i like to invest in my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the kind of primary food companies and you’ve got you understand pharmaceutical and production companies as that. How To Use Etoro Openbook.
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