We get htis a lot on our site the answer to Does Etoro Ask For Social Security Number….Questions that i hear from brand-new financiers what if you’re brand new to investing you merely do not wish to decide what you actually wish to invest and you desire somebody to do it for you there’s just a number of ways that that can occur the first off you can employ a financial investment portfolio manager they’ll typically charge a quite a high premium to do that maybe one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds specific funds are created 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 an overall please keep in mind this platform is quite sophisticated you can do cfds which of course cfds are ways 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 don’t just assume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you actually get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying real companies if you select to in this particular video we’re speaking about 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 simply do something because that individual has said they have actually made profit 14 months in a row purchase 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 things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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well-known for it’s the alternative to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can really state i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates 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 really important you comprehend what are the costs 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 some of the absolutely no charge sites then may not charge you for really buying and selling funds or etfs specific products private stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 know prior to you really start buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs truly essential to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling alright so commission costs are free however there are a number of other costs the very first one is withdrawal charges so you can certainly put cash in now if you’re 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 but when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say okay that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply one of those options that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing however that is a cost to remember the 2nd charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great 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 or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and two open market anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they really giving 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 state give me us dollars rather you need to pay their costs now the fantastic aspect of however when you’ve transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent using that part of their website won’t definitely restrict you in any way however we need to understand 2 other fees the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread fee as i’m going to reveal you
on is basically the distinction that belongs to the investment platform in between the buy cost and the list price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that actually indicates that when you want to sell or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the present cost of tesla is the worth of a share what’s called spread costs is the difference then really to buy 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 every time you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy 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 simply does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a bit of cash on those spread fees it’s usually extremely small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit money now the last accomplishment is called an
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over night charge now this is actually crucial if you’re in fact utilizing cfds yourself also an over night fee is when you’re not doing that buy offer deal in the very same day alright there’s then an overnight charge charged and even if you go from the friday to the monday prior to cruising 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 utilize which means you’re actually purchasing the precise asset instead of utilizing utilize anyway you will not get hit with these charges but these fees are if you’re utilizing take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s say if you enter into the help 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 which only uses as i stated to cfds there are some surcharges obviously depending on what you are investing in as well this is on your own so keep that in mind however complete costs are totally within their aid info alright and we talked about in addition to free 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 stated copy trading and copy portfolios are 2 different ways of really using these copy works they don’t have any extra charges on top of the typical charges that
are there now what you need to remember though is these possibly managed by other people totally or sometimes have created portfolios you’ve got a genuine individual doing the management you need to make certain you choose the individual that’s right for you just like any type of work this is your financial possessions so we absolutely need to ensure it’s the ideal 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’ve got a couple of different options 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 real money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card details or anything you can basically have this virtual portfolio simulate as if you are utilizing your own cash however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is a fantastic choice for you once again to test the theories fine you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe play with it undoubtedly you may have lost out on gains and losses throughout that time obviously if you had invested your genuine money it allows you to develop confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to bear in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i indicate by that obviously 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 means am i fine with possibly losing a great amount of this investment or acquiring as
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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose cash but that equally implies they’ll lose at some time in their journey undoubtedly individuals do earn money as well and i have actually got videos everything about how you can ensure you are among the people to actually earn money however in this circumstance make sure you research your threat level would you be all right offering your cash to somebody else which is effectively what you’re doing and trusting them ensure you understand what they’re investing in completely if you’re somebody who isn’t wanting to be that dangerous don’t pick someone who’s totally into crypto or currency conversion think of it you ‘d most likely want a backbone of strong commodities
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like gold or even 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 state you can actually use this too actually easily over here you can copy individuals now it will offer you a lot of choices and you can utilize the system to actually search for someone that you fancy in fact following so let’s see possibly we want somebody from united kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a great amount and i can find everyone who has met that requirements and it does offer you a danger aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of individuals that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they might make four 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 understand ask you to validate are you okay with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she in fact investing in 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 good to know ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is great so actually for me understanding what i like to invest in 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 chooses she’s likewise got a little bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production business as that. Does Etoro Ask For Social Security Number.
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