On this post you’ll find the answer to Should I Give My Social Security Number To Etoro….Concerns that i hear from new investors what if you’re brand new to investing you simply do not want to choose what you actually want to invest and you desire someone to do it for you there’s only a number of manner ins which that can happen the first off you can hire an investment portfolio supervisor they’ll typically charge a rather a high premium to do that possibly one or two percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are created 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 also now if you’re brand new to an overall please bear in mind this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t just assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that option too so you actually 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 risk 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 people’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something since that person has said they’ve made profit 14 months in a row purchase these options because you believe is the ideal ones for you which being stated let’s dive directly 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 becomes part of social trading which is one element that is most likely.
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well-known for it’s the alternative to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can really state i want to do exactly what that trader is doing or match that specific portfolio of options and basically each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that implies if for instance 10 of their financial 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 fees involved actually critical you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may not charge you for really buying and selling funds or etfs individual products private stocks.
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there’ll be costs on other parts possibly 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 show you the charges with in particular in this video the next would be things to understand before you in fact start purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees really important to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission fees are complimentary nevertheless there are a number of other costs the very first one is withdrawal costs 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 instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell your shares you sell your commodities 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 understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say fine that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those choices that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends completely how you’re investing however that is a charge to bear in mind the 2nd cost that i have actually 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 which’s great that matches me.
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a lot 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 fee now when you utilize anybody so if you’re using trading two and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really offering you in regards to 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 give me us dollars rather you have to pay their costs now the terrific aspect of however when you have actually converted your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 extra charges so that’s truly excellent utilizing that part of their site will not definitely limit you in any way nevertheless we need to know 2 other fees the very first being what’s called spread costs 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 essentially the distinction that becomes part of the investment platform between the buy price and the price okay 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 implies that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that once again so the present price of tesla is the value of a share what’s called spread fees 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 each time you do a purchaser’s share so keep that in mind clearly it’s more costly to purchase than it is to sell so they’re going to offer you less back with your sale and you state fine well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference 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 out costs it’s generally extremely little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit money now the last task is called an
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over night fee now this is really essential if you’re actually using cfds yourself as well an overnight charge is when you’re not doing that buy offer transaction in the exact same day okay there’s then an overnight fee charged or even if you go from the friday to the monday before cruising a weekend cost now this just 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 really buying the precise asset instead of utilizing take advantage of anyhow you won’t get hit with these costs but these charges are if you’re using utilize and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you enter into the aid area this isn’t the overnight fees info you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just applies as i said to cfds there are some surcharges obviously depending upon what you are investing in also this is on your own so keep that in mind however full costs are totally within their aid info okay and we talked about along with free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever 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 ways of in fact using these copy operates they don’t have any extra costs on top of the typical costs that
exist now what you require to remember though is these potentially managed by other people completely or sometimes have actually created portfolios you’ve got a genuine individual doing the management you have to make sure you select the person that’s right for you similar to any line of work this is your monetary assets so we absolutely need to ensure it’s the best 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 options for us first off 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 ways i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your charge card information or anything you can essentially have this virtual portfolio imitate 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 comfy with using your real cash maybe this is a terrific alternative for you once again to check the theories all right you may wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe play with it certainly you may have lost out on gains and losses throughout that time obviously if you had actually invested your real cash it enables 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 bear 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 risk profile is now what do i mean by that obviously 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 means am i alright with potentially losing a great amount of this investment or acquiring as
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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 people will lose cash however that equally indicates they’ll lose at some point in their journey clearly people do earn money as well and i’ve got videos everything about how you can make sure you are among individuals to really earn money but in this scenario ensure you research your risk level would you be all right offering your money to somebody else which is successfully what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re someone who isn’t wishing to be that dangerous do not choose somebody who’s completely into crypto or currency conversion think about it you ‘d probably desire a foundation of strong products
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like gold or perhaps oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually use this too truly easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to actually look for somebody that you elegant in fact following so let’s see possibly we desire someone from unified kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has actually satisfied that criteria 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 imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to verify are you all right with this and off you go now another method to actually deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she actually purchasing 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 know ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got some of mine actually that i purchase too which is great so in fact for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she prefers she’s also got a little bit more um of the kind of primary food companies and you’ve got you know pharmaceutical and production companies as that. Should I Give My Social Security Number To Etoro.
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