On this post you’ll find the answer to Why Does Etoro Need Your Ni Number….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t want to decide what you in fact want to invest and you want somebody to do it for you there’s just a number of manner ins which that can occur the first off you can employ an investment portfolio manager they’ll generally charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds particular funds are developed 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 a total please remember this platform is rather advanced you can do cfds which of course 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 don’t simply presume 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 give that choice also 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 danger this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so obviously your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made revenue 14 months in a row purchase these options because you believe 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 element that is probably.
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famous for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means if for example 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 charges included 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 a few of the no charge sites then might not charge you for really buying and selling funds or etfs individual commodities individual stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 understand prior to you really begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with costs really important to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling fine so commission costs are totally free however there are a couple of other charges the first one is withdrawal charges so you can clearly put money in now if you remain 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 in the future but when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum amount 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 only withdrawing when i absolutely need to now you might state alright that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply among 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 maybe even once a year when every 6 months you know depends totally how you’re investing however that is a fee to keep in mind the second fee that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that matches 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 great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they really 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 state give me us dollars instead you have to pay their charges now the fantastic thing about though when you have actually transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really great utilizing that part of their site won’t definitely limit you in any way nevertheless we have to understand two other costs the very first being what’s called spread charges alright and i’m going to show you what i mean on now a spread fee as i’m going to reveal you
on is essentially the difference that is part of the financial investment platform in between the buy rate and the price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that in fact means that when you want to buy or sell 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 value of a share what’s called spread charges is the difference then actually 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 make money from you every time you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to offer so they’re going to give you less back with your sale and you say fine well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to offer it which is how they make a little bit of cash on those spread fees it’s typically extremely small 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 feat is called an
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overnight cost now this is actually essential if you’re really utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy offer deal in the exact same day fine there’s then an overnight charge charged and even if you go from the friday to the monday before cruising 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 take advantage of which indicates you’re in fact purchasing the exact property rather than utilizing take advantage of anyhow you will not get hit with these charges but these costs are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy offering in the same day so let’s say if you enter into the help section this isn’t the over night costs details you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that just applies as i said to cfds there are some additional charges naturally depending on what you are buying too this is on your own so keep that in mind however full charges are totally within their help information alright and we discussed in addition to free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything 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 ways of really using these copy operates they don’t have any additional charges on top of the normal fees that
are there now what you require to remember though is these possibly handled by other people totally or sometimes have produced portfolios you have actually got a genuine person doing the management you have to ensure you pick the person that’s right for you much like any line of work this is your monetary possessions so we definitely require to ensure it’s the ideal individual 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 different 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 genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t need to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are using your own money but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money possibly this is a fantastic alternative for you again to test the theories fine you might want to buy tesla or apple or this etf why not use the virtual alternative as a method to sort of safe play with it clearly you may have missed out on gains and losses during that time naturally if you had invested your genuine money it permits you to build confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine 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 choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i mean 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 run the risk of simply suggests am i fine with possibly losing a good amount of this financial investment or getting as
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well now keep in mind everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose money however that similarly means they’ll lose at some point in their journey certainly individuals do earn money too and i’ve got videos everything about how you can ensure you’re one of individuals to really generate income but in this circumstance make sure you research your risk level would you be alright providing your money to someone else which is successfully what you’re doing and trusting them make certain you comprehend what they’re investing in totally if you’re someone who isn’t wishing to be that risky don’t pick somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely want a backbone of strong products
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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 say you can in fact use 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 in fact search for somebody that you fancy really following so let’s see possibly we want someone from united kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a good quantity and i can find everybody who has met that criteria and it does give you a threat element too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to validate are you all right with this and off you go now another way 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 really investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got some of mine in fact that i purchase too which is good so really for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the sort of primary food business and you’ve got you understand pharmaceutical and production business as that. Why Does Etoro Need Your Ni Number.
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