We get htis a lot on our site the answer to Can I Use American Express For Etoro App….Concerns that i hear from new investors what if you’re brand new to investing you simply don’t wish to decide what you really want to invest and you desire someone to do it for you there’s only a couple of ways that that can occur the first off you can hire a financial investment portfolio manager they’ll generally charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds specific funds are developed once 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 as well now if you’re brand new to an overall please remember this platform is quite advanced you can do cfds which naturally cfds are methods 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 do not simply presume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative too so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money 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 real companies if you select to in this specific video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at risk and we need to bear that in mind do not simply do something since that person has said they have actually made profit 14 months in a row buy these options due to the fact that you think 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’s part of social trading which is one aspect that is most likely.
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famous for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really state i want to do exactly what that trader is doing or match that precise portfolio of options and generally every time they make a trade they purchase they sell whatever they do your cash will be mimicked 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 costs involved actually crucial you understand what are the costs of this now with any platform there will be some expense to certainly 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 some of the no charge websites then might not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering 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 know prior to you really start buying copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with costs really important to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling alright so commission costs are free however there are a couple of other fees 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 immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those choices that they have a lot of platforms obviously are totally 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 six months you understand depends completely how you’re investing however that is a charge to keep in mind the 2nd charge 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 great that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and two open market anybody this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they really providing 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 say provide me us dollars instead you need to pay their charges now the terrific feature of though when you have actually converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really good using that part of their site will not certainly restrict you in any way however we have to understand 2 other costs the first being what’s called spread costs okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you
on is essentially the distinction that belongs to the financial investment platform between the buy rate and the list price all right 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 offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the present cost of tesla is the value of a share what’s called spread costs is the distinction then actually to purchase that share on the platform and you’ll find this all over this is another way that they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you say okay well why does that happen 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 wish to sell it and that is how they make a little bit of money on those spread fees it’s usually 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 bit money now the last feat is called an
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overnight cost now this is really important if you’re in fact utilizing cfds yourself as well an overnight cost is when you’re refraining from doing that buy offer deal in the same day all right there’s then an over night fee charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one leverage which indicates you’re in fact buying the exact possession instead of using take advantage of anyway you won’t get hit with these fees but these charges are if you’re using utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s state if you go into the help section this isn’t the over night fees info 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 surcharges obviously depending upon what you are investing in as well this is on your own so keep that in mind but full charges are entirely within their assistance details okay and we talked 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 regular product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of really using these copy operates they do not have any additional costs on top of the normal charges that
are there now what you need to remember though is these possibly handled by other people totally or in some cases have created portfolios you have actually got a real person doing the management you need to make sure you choose the person that’s right for you much like any profession this is your monetary assets so we absolutely need to make certain it’s the ideal person for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a couple of different choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual ways i think 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 information or anything you can essentially have this virtual portfolio simulate as if you are using your own cash however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is an excellent alternative for you again to test the theories fine you might wish to buy tesla or apple or this etf why not use the virtual option as a method to sort of safe play with it obviously you may have lost out on gains and losses during that time naturally if you had invested your genuine money it permits you to develop self-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 really how to copy individuals and copy portfolios now here’s something to bear in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i suggest by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just means am i alright with possibly losing a good quantity of this investment or getting as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the statistic 75 individuals will lose cash however that similarly implies they’ll lose eventually in their journey clearly individuals do generate income also and i’ve got videos everything about how you can make sure you’re one of the people to really generate income however in this scenario ensure you research study your risk level would you be alright offering your cash to someone else which is efficiently what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re someone who isn’t wanting to be that risky do not pick somebody who’s totally into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong commodities
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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 say you can in fact use this too truly quickly over here you can copy individuals now it will give you a great deal of choices and you can utilize the system to in fact search for somebody that you expensive really following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds a great quantity and i can find everyone who has satisfied that criteria and it does provide you a threat aspect as well 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 rather high returns
keep in mind it resembles anything to do with the news or forecasts 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 other way 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 okay 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 actually purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got a few of mine in fact that i invest in too which is excellent so really 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 companies that appears to be what she prefers she’s also got a little bit more um of the sort of main food companies and you have actually got you understand pharmaceutical and production business as that. Can I Use American Express For Etoro App.
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