We get htis a lot on our site the answer to Do I Want To Give Etoro My Social Security Number….Questions that i hear from brand-new investors what if you’re brand new to investing you just do not want to decide what you really want to invest and you desire someone to do it for you there’s only a number of ways that that can take place the firstly you can employ an investment portfolio manager they’ll usually charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 a total please keep in mind this platform is quite innovative you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you in fact get used to the structure of the website and after that 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 buying real companies if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something because that person has actually said they have actually made revenue 14 months in a row invest in these options due to the fact that you believe is the ideal ones for you which being said 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 becomes part of social trading which is one aspect that is probably.
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famous for it’s the alternative to see what other traders are doing unbelievable 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 money we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they purchase they offer whatever they do your cash will be imitated with it so that implies if for instance 10 of their financial investment portfolio is 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 really critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no fee sites then might not charge you for in fact buying and selling etfs or funds individual 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 type 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 know prior to you in fact start buying copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really essential to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling alright so commission fees are complimentary nevertheless there are a number of other charges the very first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk cash.
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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 wish to withdraw your money so you sell your shares you sell your products 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those choices that they have a lot of platforms clearly 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 once every 6 months you know depends entirely how you’re investing but that is a cost to remember the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that fits 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 great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 open market anybody this is standard they have i suppose stuck to whatever fee 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 charge exists 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 haggle with them you can’t go to the bank and state give me us dollars instead you need to pay their fees now the great feature of though when you’ve converted your money you do not need to invest it right away that dollar worth can sit 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 happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really good using that part of their site will not certainly limit you in any way however we need to be aware of 2 other fees the first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread charge as i’m going to show you
on is generally the distinction that becomes part of the financial investment platform between the buy price 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 website today 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 rate you’re seeing up here let me reveal you that again so the existing cost of tesla is the value of a share what’s called spread charges is the distinction then in fact to buy 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 purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase 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 happen 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 little bit of cash on those spread fees it’s normally incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit cash now the last accomplishment is called an
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overnight fee now this is actually crucial if you’re actually utilizing cfds yourself also an overnight cost is when you’re not doing that buy sell deal in the same day okay there’s then an over night charge charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which means you’re really purchasing the precise possession instead of using leverage anyhow you won’t get hit with these fees however these fees are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s state if you enter into the assistance section this isn’t the over night charges info you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only uses as i said to cfds there are some additional charges of course depending on what you are purchasing also this is on your own so keep that in mind but full charges are totally within their aid info fine and we spoke about along with free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 various ways of actually using these copy functions they don’t have any additional costs on top of the normal costs that
exist now what you require to keep in mind though is these possibly managed by other people totally or sometimes have produced portfolios you’ve got a genuine individual doing the management you need to ensure you select the person that’s right for you similar to any profession this is your financial possessions so we absolutely require to ensure it’s the ideal 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 couple of different choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play 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 generally have this virtual portfolio simulate as if you are using your own cash but really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money possibly this is a great option for you again to evaluate the theories fine you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it clearly you might have lost out on gains and losses during that time naturally if you had actually invested your genuine cash it permits you to build confidence understand the platform so that’s one choice for you then next week and i’m going to return to my real 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 pick someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i mean by that certainly 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 okay with possibly losing an excellent quantity of this investment or gaining as
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well now remember everything is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 individuals will lose money however that equally indicates they’ll lose at some time in their journey undoubtedly individuals do generate income too and i have actually got videos all about how you can make certain you are among the people to in fact generate income however in this situation ensure you research study your danger level would you be all right giving your money to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in completely if you’re someone who isn’t wanting to be that dangerous don’t choose someone who’s completely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more standard 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 in fact utilize this too truly quickly over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to in fact search for somebody that you elegant really following so let’s see perhaps we desire someone from unified kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can discover everyone who has actually fulfilled that requirements and it does provide you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not mean somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to confirm are you okay with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she in fact buying 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 know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine really that i invest in too which is excellent so actually for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she chooses she’s likewise got a little bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production companies as that. Do I Want To Give Etoro My Social Security Number.
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