We get this a lot on our site the answer to Etoro Can’t Open Position….Questions that i hear from brand-new financiers what if you’re brand new to investing you simply don’t wish to decide what you actually wish to invest and you want somebody to do it for you there’s just a couple of manner ins which that can occur the first of all you can hire an investment portfolio manager they’ll typically charge a quite 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 particular funds are created 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 remember this platform is rather innovative 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 more about please do study the platform do not just presume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that option also so you in fact get utilized to the structure of the site and after that when you’re ready to utilize your own cash 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 real companies if you pick 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 need to bear that in mind do not simply do something because that individual has actually said they have actually made revenue 14 months in a row purchase these options because you believe is the ideal ones for you and that being said let’s dive directly 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’s part of social trading which is one aspect that is most likely.
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famous for it’s the alternative to see what other traders are doing amazing we don’t 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 actually state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that indicates if for instance 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 charges involved truly vital you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost websites then might not charge you for actually buying and selling funds or etfs specific 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 type 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 know prior to you actually begin buying copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with charges actually important to comprehend these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission fees are complimentary however there are a couple of other fees the very first one is withdrawal fees so you can clearly put cash in now if you’re in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you offer your shares you sell your commodities 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 of course understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may say okay that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a fee to remember the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase 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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and two open market anyone at all this is basic they have actually i suppose stuck to whatever cost 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 cost is there what are they in fact 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 instead you have to pay their costs now the great thing about however when you’ve converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their website won’t definitely limit you in any way however we need to know 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 charge as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform in between the buy rate and the list price alright 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 in fact means that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that once again so the present rate of tesla is the worth of a share what’s called spread charges is the difference then really to purchase that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you whenever you do a buyer’s share so keep that in mind clearly it’s more costly to purchase than it is to offer so they’re going to offer you less back with your sale and you say alright well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread out charges it’s normally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a little bit cash now the last feat is called an
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overnight cost now this is truly essential if you’re actually utilizing cfds yourself also an overnight cost is when you’re refraining from doing that buy sell transaction in the same day okay there’s then an overnight cost charged or 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 really buying out the etf the stock the product and utilizing time one leverage which indicates you’re really purchasing the precise possession instead of using utilize anyway you will not get hit with these fees but 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 selling in the same day so let’s state if you go into the aid area this isn’t the over night charges information you can see exactly the breakdown and it’ll tell you what are the charges what are the charges 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 surcharges naturally depending upon what you are buying too this is on your own so keep that in mind however full costs are totally within their assistance details fine and we discussed along with free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually using these copy operates they do not have any extra fees on top of the typical costs that
are there now what you require to bear in mind though is these potentially managed by other individuals totally or in some cases have created portfolios you’ve got a genuine person doing the management you have to ensure you select the individual that’s right for you much like any kind of work this is your monetary assets so we definitely need to ensure it’s the ideal person for us before we copy them so the first things i would call it if you do want to use this function we’ve got a number of various alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your charge card details or anything you can essentially 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 comfy with using your real money possibly this is an excellent option for you once again to test the theories all right you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe have fun with it undoubtedly you might have missed out on gains and losses during that time naturally if you had invested your genuine cash it enables you to construct self-confidence understand 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 really how to copy individuals and copy portfolios now here’s something to keep in mind prior to you select somebody 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 mean 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 simply implies am i okay with potentially losing a good quantity of this investment or acquiring as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that similarly suggests they’ll lose at some point in their journey clearly people do generate income as well and i have actually got videos everything about how you can make sure you’re one of individuals to in fact make money but in this circumstance make certain you research study your danger level would you be okay providing your money to another person which is successfully what you’re doing and trusting them make certain you understand what they’re investing in fully if you’re somebody who isn’t wishing to be that dangerous don’t choose somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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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 very same with who you’re following now as i state you can really use this too really easily over here you can copy individuals now it will give you a lot of choices and you can use the system to really look for someone that you expensive actually following so let’s see possibly we want someone from united kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has met that criteria and it does offer you a danger aspect too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make 4 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 then you understand ask you to verify 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 actually deep dive into what is she in fact investing in 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 absolutely like kind of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is good 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 companies that appears to be what she prefers she’s likewise got a little bit more um of the sort of primary food companies and you’ve got you know pharmaceutical and production business as that. Etoro Can’t Open Position.
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