We get this a lot on our site the answer to Can I See My Etoro Account In Pounds?….Concerns that i speak with brand-new financiers what if you’re brand new to investing you merely do not want to choose what you really want to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the to start with you can hire a financial investment portfolio supervisor they’ll usually charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is of course you can buy 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 as well now if you’re brand new to a total please keep in mind this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform don’t simply assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you actually get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something since that individual has said they have actually made earnings 14 months in a row buy these options because you believe is the ideal ones for you and that being stated let’s dive straight 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 belongs to social trading which is one aspect that is probably.
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well-known for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can really state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they buy they offer whatever they do your money will be simulated with it so that means 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 fees included truly important 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 purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no cost sites then may not charge you for actually buying and selling etfs or funds private products private stocks.
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there’ll be charges on other parts perhaps 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 prior to you really begin purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly crucial to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling okay so commission costs are free nevertheless there are a number of other fees the first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you offer your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might 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 somewhere and withdrawal charges are just among those alternatives that they have a lot of platforms undoubtedly 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 as soon as every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the second cost that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two open market anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they in fact providing 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 need to pay their costs now the fantastic feature of though when you’ve converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash 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 occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent using that part of their website will not certainly limit you in any way nevertheless we have to be aware of 2 other fees the first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread charge as i’m going to show you
on is generally the difference that becomes part of the investment platform in between the buy price and the sale price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that really suggests that when you want to offer or purchase as you can see it’s not the price you’re seeing up here let me reveal you that again so the current cost of tesla is the value of a share what’s called spread fees is the distinction then really to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of make money 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 sell so they’re going to offer you less back with your sale and you state okay 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 want to sell it and that is how they make a bit of money on those spread fees it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a little bit cash now the last feat is called an
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over night cost now this is actually essential if you’re really utilizing cfds yourself too an over night cost is when you’re refraining from doing that buy offer deal in the same day all right there’s then an overnight fee charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which indicates you’re really buying the exact property rather than utilizing leverage anyway you will not get hit with these fees however these costs are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s say if you go into the assistance 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 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 added fees of course depending upon what you are buying also this is on your own so keep that in mind but full charges are totally within their aid info fine and we discussed along with complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of in fact using these copy operates they do not have any additional charges on top of the typical charges that
are there now what you require to keep in mind though is these potentially handled by other individuals completely or sometimes have actually developed portfolios you have actually got a genuine individual doing the management you have to make sure you choose the person that’s right for you just like any line of work this is your financial properties so we absolutely need to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a couple of various alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual methods 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 details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash perhaps this is a terrific alternative for you again to evaluate the theories fine you may want to purchase tesla or apple or this etf why not use the virtual alternative as a way to sort of safe have fun with it clearly you might have missed out on gains and losses during that time naturally if you had actually invested your genuine cash it allows you to construct self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return 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 remember prior to you choose 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 mean by that undoubtedly 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 simply suggests am i all right with possibly losing a good amount of this investment or getting as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly means they’ll lose at some time in their journey obviously individuals do generate income too and i’ve got videos all about how you can make certain you’re one of individuals to really make money but in this scenario make certain you research study your threat level would you be okay giving your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re somebody who isn’t wishing to be that risky don’t choose someone who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold or perhaps oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact utilize this too actually easily over here you can copy individuals now it will offer you a lot of options and you can utilize the system to in fact look for somebody that you fancy in fact following so let’s see possibly we desire someone from united kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has actually met 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 clearly there are a number of individuals that have quite high returns
remember it’s like 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 four or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that 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 in fact deep dive into what is she really purchasing so let’s enter 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 understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine really that i buy too which is great so in fact for me knowing what i like to buy my individual 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 bit more um of the type of primary food companies and you’ve got you know pharmaceutical and production companies as that. Can I See My Etoro Account In Pounds?.
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