We get this a lot on our site the answer to Etoro Currency Fees….Concerns that i hear from brand-new investors what if you’re brand new to investing you merely do not wish to decide what you really want to invest and you desire someone to do it for you there’s just a number of ways that that can occur the to start with you can work with a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 also now if you’re brand new to a total please remember this platform is quite innovative you can do cfds which of course cfds are ways 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 don’t just presume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re discussing how to copy other people’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something since that person has stated they have actually made profit 14 months in a row buy these options because you think is the ideal ones for you which 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 aspect that is most likely.
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popular for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a lot 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 exact portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your money will be mimicked 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 money in so we’re going to also cover is the costs involved really crucial you understand what are the expenses of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge websites then may not charge you for really buying and selling etfs or funds private products private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 actually start purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees really crucial to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling fine so commission costs are complimentary nevertheless there are a number of other fees the very first one is withdrawal costs 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 automatically 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 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 knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state fine 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 among those choices 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 mainly it can be perhaps even once a year once every 6 months you understand depends entirely how you’re investing however that is a cost to bear in mind the second fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s great that matches 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 great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and two free trade anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they in fact giving you in regards to 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 say provide me us dollars rather you need to pay their fees now the excellent aspect of though when you have actually converted your cash you do not need to invest it right away 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 purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good using that part of their site will not certainly restrict you in any way however we need to be aware of two other costs the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread charge as i’m going to show you
on is essentially the distinction that belongs to the investment platform between the buy rate and the list price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that really suggests that when you wish to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the existing rate of tesla is the value of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of benefit from you whenever you do a buyer’s share so keep that in mind obviously it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you say fine well why does that occur 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 little bit of cash on those spread out fees it’s normally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit money now the last accomplishment is called an
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overnight cost now this is truly important if you’re actually using cfds yourself also an overnight charge is when you’re not doing that buy offer transaction in the exact same day okay there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re really purchasing the exact asset rather than using take advantage of anyway you will not get hit with these charges however these fees are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s state if you go into the aid area this isn’t the over night costs info you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only uses as i stated to cfds there are some additional charges obviously depending upon what you are investing in too this is on your own so keep that in mind but full costs are completely within their aid info alright and we talked about as well as totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of actually utilizing these copy operates they don’t have any additional fees on top of the regular costs that
exist now what you require to bear in mind though is these potentially handled by other individuals completely or sometimes have created portfolios you have actually got a real person doing the management you need to make certain you pick the person that’s right for you just like any type of work this is your monetary assets so we definitely require to make sure it’s the ideal person for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual means 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 credit card details or anything you can basically have this virtual portfolio simulate as if you are using your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine money possibly this is an excellent option for you once again to check the theories okay you may wish 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 throughout that time naturally if you had invested your genuine cash it enables you to build confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to bear in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand 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 means am i alright with potentially losing an excellent quantity of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash however that similarly means they’ll lose at some time in their journey certainly individuals do earn money also and i’ve got videos all about how you can make sure you’re one of the people to really make money however in this scenario make sure you research your danger level would you be fine providing your cash to somebody else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re somebody who isn’t wishing to be that risky do not select somebody who’s entirely 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 conventional etfs and index funds you might not want 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 use this too really easily over here you can copy individuals now it will provide you a lot of choices and you can use the system to in fact look for somebody that you elegant in fact following so let’s see maybe we desire somebody from joined kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can discover everyone who has satisfied that requirements and it does offer you a risk aspect too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of people that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to confirm are you okay with this and off you go now another method to actually 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 buying 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 great to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is great so in fact for me understanding 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 seems to be what she chooses she’s also got a bit more um of the type of primary food companies and you’ve got you know pharmaceutical and production business as that. Etoro Currency Fees.
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