We get this a lot on our site the answer to Can You See A Statement Of Accounts On Etoro….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t want to choose what you really wish to invest and you want someone to do it for you there’s just a couple of manner ins which that can happen the to start with you can hire a financial investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds specific funds are developed 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 too now if you’re brand new to an overall please bear in mind this platform is rather advanced you can do cfds which naturally cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply assume since i utilize it that you can utilize 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 in fact get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that individual has said they have actually made profit 14 months in a row buy these options due to the fact that you think is the right ones for you which being stated let’s dive directly 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 element that is probably.
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famous for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that means if for example 10 of their financial 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 truly crucial you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies 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 fee websites then might not charge you for really buying and selling etfs or funds specific products specific stocks.
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there’ll be costs on other parts possibly 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 charges with in particular in this video the next would be things to understand before you actually begin purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs truly important to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling fine so commission costs are free however there are a number of other fees the first one is withdrawal fees so you can certainly put cash 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 however when you wish to withdraw your cash so you offer your shares you offer 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 knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just one of those choices that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a cost to keep in mind the second fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you kind of have 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 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 give me us dollars instead you need to pay their fees now the great feature of though when you’ve transformed your cash you do not have to invest it right away 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 transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good utilizing that part of their site won’t definitely restrict you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is essentially the distinction that becomes part of the investment platform in between the buy rate 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 actually means that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the current price of tesla is the worth of a share what’s called spread costs is the distinction then actually to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of profit from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to offer you less back with your sale and you say fine well why does that occur it simply 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 bit of cash on those spread out charges it’s usually exceptionally 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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overnight charge now this is truly important if you’re actually utilizing cfds yourself also an over night cost is when you’re refraining from doing that buy offer deal in the very same day okay there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one leverage which implies you’re in fact purchasing the exact possession rather than using leverage anyway you won’t get hit with these fees however these charges are if you’re utilizing utilize 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 section this isn’t the over night costs info 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 just applies as i said to cfds there are some added fees of course depending on what you are investing in as well this is on your own so keep that in mind but complete costs are totally within their help info okay and we discussed along with complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 various ways of really utilizing these copy functions they do not have any additional fees on top of the normal costs that
exist now what you require to bear in mind though is these possibly managed by other individuals completely or in some cases have produced portfolios you have actually got a real individual doing the management you have to ensure you pick the person that’s right for you just like any line of work this is your monetary possessions so we definitely need to make sure it’s the right individual for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of different options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual methods 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 require to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine money maybe this is a fantastic option for you again to check the theories alright you might wish to purchase tesla or apple or this etf why not use the virtual alternative as a method to kind of safe play with it certainly you might have lost out on gains and losses throughout that time of course if you had actually invested your genuine money it allows you to build self-confidence comprehend 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 someone 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 suggest 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 run the risk of just indicates am i alright with potentially losing a great quantity of this investment or gaining as
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well now keep in mind everything is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 people will lose money but that equally suggests they’ll lose at some time in their journey undoubtedly people do generate income also and i have actually got videos everything about how you can make sure you are among the people to in fact earn money however in this situation make certain you research your risk level would you be fine providing your money to someone else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re somebody who isn’t wishing to be that dangerous don’t select somebody who’s entirely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually utilize 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 expensive in fact following so let’s see perhaps we want someone from joined kingdom um who invests in let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can find everybody who has fulfilled that criteria and it does give you a risk aspect also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of individuals that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest 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 basic as clicking the copy button and off you go and then you understand ask you to verify are you all right with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is good so in fact for me understanding 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 seems to be what she chooses she’s also got a bit more um of the sort of primary food business and you’ve got you know pharmaceutical and production companies as that. Can You See A Statement Of Accounts On Etoro.
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