We get this a lot on our site the answer to Etoro Add Tax File.Number….Questions that i speak with new financiers what if you’re brand new to investing you just do not wish to decide what you in fact want to invest and you want someone to do it for you there’s only a couple of ways that that can take place the to start with you can hire a financial investment portfolio manager they’ll typically charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds particular funds are developed 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 a total please remember this platform is rather innovative you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform do not simply presume since i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that option also so you in fact get utilized to the structure of the site 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 investing in genuine companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row buy these options because you believe is the ideal ones for you and that being stated let’s dive directly in [Music] The 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 choice to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved truly crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly 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 some of the no charge sites then might not charge you for actually buying and selling etfs or funds private commodities individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing 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 costs with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges actually essential to understand these now on there’s a number of fees there isn’t charges to do with actually buying and selling fine so commission fees are complimentary nevertheless there are a couple of other fees the first one is withdrawal costs so you can clearly put money in now if you’re 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 later on however when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure 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 need to charge fees somewhere and withdrawal fees are simply one of those options that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends entirely how you’re investing however that is a cost to bear in mind the 2nd fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’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 and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two open market anybody this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually giving 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 rather you have to pay their fees now the fantastic aspect of though when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates 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 really good utilizing that part of their site will not definitely restrict you in any way nevertheless we have to know two other fees the first being what’s called spread charges fine and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you
on is generally the distinction that is part of the investment platform in between the buy price and the list price okay 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 value 599 per share in tesla that in fact indicates that when you wish to purchase or sell as you can see it’s not the rate you’re seeing up here let me show you that again so the present rate of tesla is the worth of a share what’s called spread costs is the difference then in fact to buy 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 each time you do a purchaser’s share so keep that in mind certainly it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you say alright well why does that happen it simply 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 wish to sell it and that is how they make a little bit of cash on those spread costs it’s typically incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a bit cash now the last accomplishment is called an
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over night cost now this is actually essential if you’re really utilizing cfds yourself also an over night charge is when you’re refraining from doing that buy offer deal in the very same day all right there’s then an over night fee charged or even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one leverage which indicates you’re actually buying the exact asset rather than using utilize anyway you won’t get hit with these charges but these costs are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s state if you go into the aid section this isn’t the overnight costs information you can see precisely the breakdown and it’ll inform you what are the charges what are the charges 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 of course depending upon what you are investing in as well this is on your own so keep that in mind but full fees are totally within their aid details okay and we talked about in addition to totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of really utilizing these copy operates they don’t have any additional charges on top of the regular costs that
exist now what you need to keep in mind though is these possibly managed by other people entirely or often have created portfolios you have actually got a genuine individual doing the management you have to make certain you choose the person that’s right for you much like any type of work this is your monetary properties so we definitely require to ensure it’s the best person for us prior to we copy them so the first things i would call it if you do want to utilize this function we have actually 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 alternative to invest genuine money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require to put in your charge card information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money however in fact 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 great choice for you again to test the theories all right you may want to purchase tesla or apple or this etf why not use the virtual choice as a method to sort of safe have fun with it undoubtedly you might have lost out on gains and losses during that time of course if you had actually invested your genuine money it allows you to construct confidence understand the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy individuals 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 comprehend what your risk profile is now what do i imply 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 risk just indicates am i alright with potentially losing a great amount of this financial investment or gaining as
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well now remember whatever is downs and ups you will make money you’ll lose money that’s why they make the fact 75 people will lose money however that similarly means they’ll lose eventually in their journey clearly individuals do earn money 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 ensure you research your risk level would you be fine offering your money to another person which is successfully what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re somebody who isn’t wanting to be that risky do not select somebody who’s entirely into crypto or currency conversion consider it you ‘d probably want a foundation of strong products
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like gold or even oil plus more traditional 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 say you can actually utilize this too actually easily over here you can copy individuals now it will give you a lot of options and you can utilize the system to really search for somebody that you expensive actually following so let’s see maybe we want somebody from united kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a great quantity and i can discover everybody who has actually fulfilled that criteria and it does offer you a threat factor as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to verify are you alright 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 in fact deep dive into what is she actually purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to know ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is excellent so in fact for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers 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. Etoro Add Tax File.Number.
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