We get this a lot on our site the answer to Reset Etoro Practice Account….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply do not wish to choose what you really wish to invest and you want someone to do it for you there’s only a couple of ways that that can occur the first off you can work with an investment portfolio manager they’ll typically 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 developed 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 as well now if you’re brand new to an overall please keep in mind this platform is quite sophisticated you can do cfds which obviously 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 assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative too so you really get utilized to the structure of the site 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 genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so clearly your capital is at risk 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 purchase these choices since you believe is the right ones for you and that being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
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popular for it’s the alternative to see what other traders are doing amazing we do not 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 cash we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included truly vital 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 a few of the no fee sites then may not charge you for in fact buying and selling funds or etfs individual commodities individual stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering 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 before you actually begin buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with charges really essential to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling alright so commission costs are free however there are a couple of other fees the first one is withdrawal fees so you can undoubtedly 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 offer your shares you sell your products whatever you’re selling 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 ensure that i’m only withdrawing when i absolutely need to now you may say fine that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those options that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends completely how you’re investing however that is a cost to bear in mind the second fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even 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 2 free trade anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they actually providing you in terms of 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 say give me us dollars rather you need to pay their costs now the great thing about though when you have actually transformed your cash you do not have 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 initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good using that part of their site will not definitely restrict you in any way nevertheless we need to know two other costs the first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you
on is essentially the difference that belongs to the financial investment platform between the buy price and the list price all right 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 value 599 per share in tesla that really means that when you want to offer or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the present price 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 discover this all over this is another manner in which they make a percentage of make money from you every time you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to offer so they’re going to provide you less back with your sale and you state okay well why does that happen it just 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 offer it which is how they make a bit of money on those spread charges it’s generally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a bit money now the last accomplishment is called an
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over night fee now this is truly crucial if you’re in fact using cfds yourself also an over night charge is when you’re refraining from doing that buy sell deal in the same day fine there’s then an overnight charge charged and even if you go from the friday to the monday prior to cruising a weekend fee now this just 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 in fact buying the specific asset rather than using take advantage of anyhow you will not get hit with these costs 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 offering in the very same day so let’s state if you enter into the aid area this isn’t the overnight charges information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only uses as i said to cfds there are some surcharges obviously depending upon what you are investing in also this is on your own so keep that in mind however full charges are completely within their help information all right and we talked 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 normal commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of actually utilizing these copy operates they do not have any additional charges on top of the regular fees that
are there now what you require to bear in mind though is these possibly handled by other people totally or in some cases have created portfolios you have actually got a genuine person doing the management you need to make sure you pick the person that’s right for you much like any line of work this is your monetary possessions so we definitely need to make certain it’s the best individual 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 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 option to invest genuine 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 will not need to put in your credit card information or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own money but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money possibly this is a great option for you again to test the theories fine you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it clearly you might have lost out on gains and losses during that time of course if you had actually invested your real money it permits you to construct confidence understand the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to keep in mind before you select someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i indicate by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk simply suggests am i okay with possibly losing a great quantity of this financial investment or acquiring as
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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the figure 75 people will lose cash but that similarly suggests they’ll lose at some time in their journey undoubtedly people do make money as well and i have actually got videos everything about how you can ensure you’re one of individuals to actually make money however in this circumstance ensure you research study your risk level would you be fine giving your money to someone else which is efficiently what you’re doing and trusting them make certain you understand what they’re purchasing fully if you’re someone who isn’t wishing to be that risky do not pick someone who’s entirely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong commodities
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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 exact same with who you’re following now as i state you can actually utilize this too truly quickly over here you can copy people now it will provide you a lot of options and you can use the system to actually look for somebody that you expensive really following so let’s see possibly we desire someone from joined kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has actually satisfied that criteria and it does offer you a risk factor as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure 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 confirm are you all right 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 really deep dive into what is she in fact 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 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 in fact that i purchase too which is good so actually for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s also got a little bit more um of the type of main food business and you have actually got you understand pharmaceutical and production business as that. Reset Etoro Practice Account.
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