On this post you’ll find the answer to Using Etoro Wallet….Concerns that i speak with brand-new investors what if you’re brand new to investing you just do not want to choose what you actually wish to invest and you want someone to do it for you there’s just a couple of ways that that can occur the first off you can employ a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can buy 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 also now if you’re brand new to a total please remember this platform is quite innovative you can do cfds which naturally cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform do not just assume because 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 really get used to the structure of the site and after that when you’re ready to use your own cash 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 investing in genuine business if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not just do something since that person has actually stated they have actually made revenue 14 months in a row purchase these choices due to the fact that you think is the right 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
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famous for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they offer whatever they do your cash will be imitated 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 charges involved really critical you understand what are the costs of this now with any platform there will be some cost to obviously 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 some of the absolutely no fee sites then might not charge you for in fact buying and selling etfs or funds specific products private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 before you in fact start investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually important to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling all right so commission fees are complimentary however there are a number of other fees the first one is withdrawal fees so you can undoubtedly put cash in now if you remain 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 but when you want to withdraw your cash so you sell your shares you sell your products 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 naturally understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might state okay that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just among those choices that they have a lot of platforms certainly are complimentary 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 as soon as every 6 months you understand depends entirely how you’re investing but that is a fee to keep in mind the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two open market anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact giving 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 offer me us dollars instead you need to pay their fees now the great thing about though when you’ve converted your cash you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent using that part of their site will not definitely limit you in any way however we have to understand 2 other costs the very first being what’s called spread fees okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you
on is generally the difference that is part of the financial investment platform between the buy rate and the list 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 indicates that when you want to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present cost of tesla is the worth of a share what’s called spread fees is the difference 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 small amount of benefit from you whenever you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to offer so they’re going to provide you less back with your sale and you say alright well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to sell it and that is how they make a little bit of money on those spread charges it’s usually exceptionally small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit money now the last feat is called an
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overnight cost now this is actually important if you’re really using cfds yourself also an over night charge is when you’re refraining from doing that buy offer deal in the exact same day all right there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which means you’re really purchasing the precise possession rather than using leverage anyhow you will not get hit with these fees but these charges are if you’re utilizing take advantage of and cfds and after that you’re going to have these costs if you’re not buy offering in the very same day so let’s state if you enter into the aid section this isn’t the over night charges details 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 and that only applies as i stated to cfds there are some surcharges obviously depending on what you are investing in too this is on your own so keep that in mind but complete fees are completely within their help information fine and we spoke about as well as complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of actually utilizing these copy operates they don’t have any additional fees on top of the regular costs that
exist now what you need to keep in mind though is these potentially managed by other people completely or sometimes have developed portfolios you’ve got a genuine individual doing the management you have to ensure you select the individual that’s right for you much like any profession this is your financial assets so we absolutely need 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 have actually got a number of various options 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 money or a virtual platform virtual ways i believe 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 credit card information or anything you can basically have this virtual portfolio simulate as if you are using your own cash 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 perhaps this is an excellent choice for you again to test the theories okay you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it obviously you might have lost out on gains and losses during that time obviously if you had actually invested your real cash it allows you to construct 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 remember before you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i imply by that certainly 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 just implies am i fine with possibly losing an excellent amount of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 people will lose money however that equally implies they’ll lose eventually in their journey certainly people do generate income too and i’ve got videos all about how you can make certain you’re one of individuals to actually generate income however in this scenario make certain you research your danger level would you be all right providing your cash to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing fully if you’re someone who isn’t wishing to be that risky do not pick someone who’s completely 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 standard 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 state you can actually utilize this too truly quickly over here you can copy individuals now it will offer you a great deal of choices and you can use the system to really look for somebody that you fancy really following so let’s see perhaps we desire somebody from united kingdom um who purchases let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everybody who has actually fulfilled that criteria and it does provide you a danger aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of people that have rather high returns
remember 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 four or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to confirm are you fine 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 really 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 good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine in fact that i buy too which is great so in fact for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s likewise got a bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production business as that. Using Etoro Wallet.
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