Why Does Etoro Ask So Many Questions – Turtles of Trading

On this post you’ll find the answer to Why Does Etoro Ask So Many Questions….Concerns that i hear from brand-new financiers what if you’re brand new to investing you merely do not wish to decide what you really wish to invest and you desire someone to do it for you there’s only a number of ways that that can occur the first off you can hire an investment portfolio manager they’ll generally charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is of course you can purchase mutual funds specific funds are created once 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 an overall please keep in mind this platform is quite sophisticated you can do cfds which naturally cfds are methods of investing

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with not really having the total of capital so with anything that you’re discovering please do study the platform do not just presume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you actually get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something because that person has said they’ve made profit 14 months in a row purchase these choices because you believe is the right ones for you and that being said let’s dive straight in [Music] so the 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 incredible 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 indicates with our money we can actually state i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for instance 10 of their investment portfolio remains 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 really vital you understand what are the expenses of this now with any platform there will be some cost 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 a few of the absolutely no fee websites then may not charge you for in fact buying and selling etfs or funds individual products private stocks.

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there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 begin buying copy trading or copy portfolios and finally some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges really important 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 however there are a number of other charges the first one is withdrawal fees so you can obviously put money in now if you’re in the uk we put our uk money.

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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 cash so you offer your shares you offer 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those choices that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing but that is a fee to bear in mind the second fee that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that suits me.

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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two open market anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there 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 bargain with them you can’t go to the bank and say offer me us dollars rather you have to pay their charges now the fantastic feature of though when you have actually converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial 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 great using that part of their website will not definitely limit you in any way nevertheless we have to be aware of 2 other fees the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread charge as i’m going to show you

on is generally the difference that is part of the investment platform between the buy price and the price fine 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 in fact indicates that when you want to purchase or offer as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing cost of tesla is the worth of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you state all right well why does that happen it simply 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 and that is how they make a little bit of cash on those spread out fees it’s generally incredibly small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit cash now the last task is called an

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over night cost now this is truly crucial if you’re really utilizing cfds yourself as well an overnight cost is when you’re refraining from doing that buy sell deal in the very same day alright there’s then an overnight fee charged and even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one take advantage of which implies you’re really buying the precise property instead of utilizing leverage anyway you won’t get hit with these costs however these charges are if you’re using take advantage of 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 costs information you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that only uses as i said to cfds there are some service charges of course depending upon what you are investing in also this is on your own so keep that in mind but full charges are totally within their assistance information fine and we spoke about in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of really utilizing these copy functions they don’t have any extra costs on top of the normal charges that

exist now what you need to bear in mind though is these possibly managed by other individuals completely or sometimes have produced portfolios you’ve got a real individual doing the management you have to make certain you choose the person that’s right for you similar to any kind of work this is your financial assets so we definitely require to make sure it’s the right person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple 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 alternative to invest real money 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 won’t need to put in your charge card information or anything you can generally have this virtual portfolio mimic as if you are using your own money however really 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 great choice for you once again to check the theories alright you may want to buy tesla or apple or this etf why not use the virtual option as a way to type of safe play with it certainly you might have lost out on gains and losses during that time naturally if you had actually invested your genuine money it enables you to build self-confidence understand the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact 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 make certain you understand what your danger profile is now what do i mean by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of simply indicates am i fine with possibly losing a good amount of this investment or gaining as

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well now remember whatever is ups and downs you will earn money you’ll lose cash that’s why they make the figure 75 individuals will lose cash however that similarly implies they’ll lose at some point in their journey certainly individuals do make money as well and i’ve got videos everything about how you can make sure you’re one of the people to really earn money but in this circumstance make sure you research study your threat level would you be all right offering your money to someone else which is successfully what you’re doing and trusting them ensure you comprehend what they’re buying fully if you’re somebody who isn’t wanting to be that dangerous don’t pick somebody who’s entirely into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities

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like gold or perhaps oil plus more traditional 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 individuals now it will give you a great deal of choices and you can use the system to actually look for somebody that you elegant in fact following so let’s see perhaps we want someone from united 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 amount and i can discover everyone who has satisfied that requirements and it does provide you a risk element 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 quite 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 could 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 know ask you to verify are you alright with this and off you go now another way to really 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 investing in so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine in fact that i buy too which is good so in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the kind of main food business and you have actually got you know pharmaceutical and production companies as that. Why Does Etoro Ask So Many Questions.

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