We get htis a lot on our site the answer to Does Etora Offer Custodial Accounts….Questions that i hear from new financiers what if you’re brand new to investing you simply don’t wish to decide what you actually want to invest and you desire someone to do it for you there’s just a couple of ways that that can happen the first of all you can work with an investment portfolio manager they’ll typically charge a rather a high premium to do that possibly one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds particular 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 too now if you’re brand new to a total please keep in mind this platform is quite sophisticated you can do cfds which of course 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 just assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so clearly your capital is at risk and we need to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row invest in these choices since you believe is the best ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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popular for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can really 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 investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included truly crucial you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine business 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 cost sites then may not charge you for actually buying and selling etfs or funds individual commodities individual 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 sort of costs 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 before you in fact start investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with fees truly crucial to understand these now on there’s a couple of charges there isn’t fees to do with actually buying and selling alright so commission charges are totally free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can clearly put money 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 in the future but when you wish to withdraw your cash so you offer 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 five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just one of those alternatives that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a charge to keep in mind the 2nd fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and 2 free trade anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really 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 provide me us dollars rather you need to pay their charges now the great thing about though when you have actually converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to be aware of two other charges the first being what’s called spread charges all right and i’m going to show you what i mean on now a spread cost as i’m going to show you
on is basically the distinction that belongs to the financial investment platform between the buy rate and the sale price okay 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 indicates that when you wish to offer or purchase as you can see it’s not the cost 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 fees is the difference then really to purchase that share on the platform and you’ll find this all over this is another manner in which they make a percentage of profit from you every time you do a purchaser’s share so keep that in mind obviously it’s more expensive to purchase than it is to offer so they’re going to provide you less back with your sale and you say fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a little bit of money on those spread out costs it’s generally incredibly little it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a bit money now the last task is called an
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over night cost now this is really important if you’re in fact using cfds yourself as well an overnight charge is when you’re refraining from doing that buy sell transaction in the very same day alright there’s then an overnight fee charged or even if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which implies you’re in fact purchasing the precise property instead of utilizing take advantage of anyway you won’t get hit with these costs but these costs are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy offering in the same day so let’s say if you go into the aid area this isn’t the overnight charges information 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 over night or you’re doing over weekends which just uses as i stated to cfds there are some service charges naturally depending upon what you are buying as well this is on your own so keep that in mind however complete costs are entirely within their assistance info alright and we spoke about in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of in fact using these copy works they do not have any extra fees on top of the normal fees that
are there now what you require to bear in mind though is these possibly managed by other individuals totally or sometimes have actually developed portfolios you have actually got a genuine person doing the management you need to ensure you select the person that’s right for you just like any type of work this is your financial properties so we absolutely need to ensure 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 utilize this function we’ve got a couple of different choices 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 cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t require to put in your credit card information or anything you can essentially have this virtual portfolio mimic as if you are using your own money but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash perhaps this is a great option for you once again to check the theories alright you might want to purchase tesla or apple or this etf why not use the virtual option as a method to sort of safe have fun with it undoubtedly you may have lost out on gains and losses during that time of course if you had actually invested your genuine money it enables you to develop 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 in fact how to copy people and copy portfolios now here’s something to remember before you choose someone 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 mean by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk simply means am i okay with potentially losing an excellent quantity of this investment or gaining as
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well now keep in mind whatever is ups and downs you will make money you’ll lose money that’s why they make the fact 75 people will lose money however that equally implies they’ll lose eventually in their journey undoubtedly individuals do generate income also and i have actually got videos everything about how you can make sure you are among the people to really make money but in this scenario ensure you research your risk level would you be all right giving your money to another person which is efficiently what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that dangerous don’t choose someone who’s totally into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really use this too really easily over here you can copy individuals now it will give you a great deal of options and you can utilize the system to really look for someone that you elegant in fact following so let’s see perhaps we desire someone from joined kingdom um who purchases let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can find everyone who has actually satisfied that requirements and it does give you a danger factor as well so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have quite high returns
remember it resembles anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no way to guarantee 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 verify are you okay with this and off you go now another method to in fact deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she actually investing in so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine in fact that i invest in too which is excellent so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production companies as that. Does Etora Offer Custodial Accounts.
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