We get htis a lot on our site the answer to Etoro Client Suitability Test Answers….Concerns that i hear from brand-new financiers what if you’re brand new to investing you simply don’t wish to choose what you really want to invest and you want someone to do it for you there’s only a number of manner ins which that can happen the to start with you can employ a financial investment portfolio supervisor they’ll typically charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is naturally you can purchase mutual funds particular funds are produced 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 also now if you’re brand new to an overall please bear in mind this platform is quite innovative you can do cfds which naturally cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform don’t simply assume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you actually get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually said they have actually made profit 14 months in a row invest in these choices because you think is the best ones for you and that being said 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 element that is most likely.
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well-known for it’s the option to see what other traders are doing amazing we do not typically 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 cash we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of options and generally each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies 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 likewise cover is the charges included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no charge websites then may not charge you for in fact buying and selling etfs or funds private products specific stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 in fact begin purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually essential to understand these now on there’s a number of fees there isn’t charges to do with really buying and selling alright so commission fees are totally free however there are a number of other fees the very first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
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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 cash so you sell your shares you offer 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 naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just among those alternatives 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 mainly it can be perhaps even once a year once every six months you know depends entirely how you’re investing however that is a charge to remember the second fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and two open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually giving you in regards to 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 have to pay their charges now the excellent thing about though when you have actually converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies 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 additional costs so that’s truly good utilizing that part of their website will not definitely limit you in any way however we need to know 2 other charges the very first being what’s called spread charges fine and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you
on is generally the difference that is part of the investment platform between the buy price 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 website today tesla’s dollar value 599 per share in tesla that actually indicates that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that once again so the current price of tesla is the value of a share what’s called spread charges is the difference then in fact to buy that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind clearly it’s more costly to buy than it is to sell so they’re going to give you less back with your sale and you state all right well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you want to offer it and that is how they make a little bit of cash on those spread out costs it’s usually extremely small it could be a matter of pens matter of cents in there however that’s one place every investment company 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 using cfds yourself too an overnight charge is when you’re not doing that buy offer deal in the same day all right there’s then an over night fee charged and even if you go from the friday to the monday before 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 take advantage of which implies you’re really buying the precise possession instead of using leverage anyhow you won’t get hit with these costs but these costs are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the exact same day so let’s state if you enter into the assistance section this isn’t the overnight costs info you can see precisely 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 applies as i said to cfds there are some service charges of course depending on what you are purchasing also this is on your own so keep that in mind but full charges are entirely within their aid info okay and we spoke about along with complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of in fact using these copy operates they don’t have any additional fees on top of the normal fees that
exist now what you require to remember though is these potentially managed by other people entirely or in some cases have produced portfolios you have actually got a genuine person doing the management you have to make certain you choose the person that’s right for you much like any profession this is your financial assets so we definitely need to make sure it’s the best person for us before 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 alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real money 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 won’t require to put in your credit card information or anything you can essentially have this virtual portfolio imitate as if you are using your own cash however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash perhaps this is an excellent choice for you again to test the theories fine you may wish to buy tesla or apple or this etf why not use the virtual alternative as a method to sort of safe have fun with it undoubtedly you may have lost out on gains and losses throughout that time naturally if you had invested your genuine money it allows you to develop self-confidence understand the platform so that’s one option for you then next week and i’m going to return 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 keep in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i suggest by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk just suggests am i fine with possibly losing a great quantity of this investment or acquiring as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money however that equally implies they’ll lose at some time in their journey undoubtedly people do earn money also and i’ve got videos all about how you can ensure you are among individuals to in fact make money however in this circumstance ensure you research your risk level would you be fine providing your cash to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re somebody who isn’t wanting to be that dangerous don’t select somebody who’s totally into crypto or currency conversion think of it you ‘d probably want a foundation of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really utilize this too really easily over here you can copy people now it will provide you a great deal of options and you can use the system to in fact look for someone that you elegant in fact following so let’s see possibly we want somebody from united kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a good amount and i can find everybody who has actually satisfied that requirements and it does give you a risk aspect also 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 people that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not mean somebody 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 basic as clicking the copy button and off you go and after that you know ask you to validate are you okay with this and off you go now another method to actually deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she in fact purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine really that i purchase too which is great so actually for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the sort of primary food companies and you’ve got you understand pharmaceutical and production business as that. Etoro Client Suitability Test Answers.
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