We get htis a lot on our site the answer to Etoro Hidden Costs….Questions that i speak with new investors what if you’re brand new to investing you simply do not want to choose what you really want to invest and you want somebody to do it for you there’s only a number of ways that that can occur the firstly you can employ an investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds specific 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 as well now if you’re brand new to an overall please bear in mind this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform don’t just presume because i use 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 option also so you actually 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 threat this is investing we’re doing you’re purchasing genuine business if you select 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 threat and we have to bear that in mind do not simply do something since that individual has actually said they have actually made profit 14 months in a row purchase these choices due to the fact that you believe 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
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famous for it’s the option to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really say i wish to do precisely what that trader is doing or match that specific portfolio of options 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 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 costs involved really vital you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 cost sites then might not charge you for really buying and selling funds or etfs individual commodities private 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 kinds of costs 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 prior to you really begin purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with fees actually crucial to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling okay so commission fees are free however there are a couple of other charges the very first one is withdrawal costs so you can certainly put money in now if you remain 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 in the future however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re offering 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 understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply one of those options that they have a great deal of platforms clearly are 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 when every six months you know depends completely how you’re investing however that is a cost to bear in mind the second cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s fine that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps 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 using trading two and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they actually offering 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 say offer me us dollars rather you have to pay their fees now the great thing about though when you have actually transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent utilizing that part of their site will not certainly limit you in any way however we have to understand two other fees the very first being what’s called spread charges alright and i’m going to reveal you what i imply on now a spread charge as i’m going to show you
on is basically the difference that is part of the investment platform between the buy rate and the 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 today tesla’s dollar worth 599 per share in tesla that actually implies that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the current rate of tesla is the value of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of benefit from you whenever you do a buyer’s share so keep that in mind certainly 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 fine well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to offer it which is how they make a bit of cash on those spread fees it’s generally exceptionally little 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 cash now the last accomplishment is called an
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overnight cost now this is really essential if you’re actually using cfds yourself too an overnight cost is when you’re refraining from doing that buy sell deal in the same day fine there’s then an over night cost charged and even if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which implies you’re actually buying the exact asset instead of using utilize anyway you will not get hit with these fees however these costs are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy offering in the very same day so let’s state if you go into the help section this isn’t the overnight fees 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 overnight or you’re doing over weekends and that just uses as i said to cfds there are some added fees obviously depending upon what you are investing in as well this is on your own so keep that in mind but full fees are completely within their assistance details okay and we discussed as well as complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of actually utilizing these copy operates they don’t have any extra charges on top of the regular fees that
are there now what you require to remember though is these possibly handled by other individuals totally or in some cases have actually developed 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 financial properties so we definitely need to make certain it’s the right 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 various options 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 genuine money or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun 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 mimic as if you are using your own cash but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash maybe this is an excellent option for you once again to check the theories alright you might wish to buy tesla or apple or this etf why not utilize the virtual option as a way to kind of safe have fun with it obviously you may have missed out on gains and losses during that time obviously if you had actually invested your genuine cash it permits you to build self-confidence comprehend the platform so that’s one alternative 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 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 sure you comprehend what your threat profile is now what do i mean by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk simply suggests am i all right with possibly losing a great amount of this financial investment or getting as
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well now remember whatever is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 people will lose cash but that similarly indicates they’ll lose at some point in their journey clearly people do make money as well and i have actually got videos everything about how you can ensure you are among the people to actually make money but in this circumstance make certain you research your danger level would you be all right offering your cash to somebody else which is successfully what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re somebody who isn’t wanting to be that risky do not choose somebody who’s totally into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong commodities
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like gold or perhaps oil plus more traditional 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 actually utilize this too actually easily over here you can copy individuals now it will offer you a great deal of choices and you can use the system to really search for somebody that you fancy in fact following so let’s see possibly we want someone from united kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds a great quantity and i can discover everyone who has actually fulfilled that requirements and it does provide you a danger aspect too 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 indicate somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to verify are you fine with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really investing in so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got a few of mine really that i purchase too which is good so in fact for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s also got a little bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production business as that. Etoro Hidden Costs.
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