We get this a lot on our site the answer to What It Looks Like To Trade On Etoro….Questions that i speak with new financiers what if you’re brand new to investing you just do not wish to decide what you actually wish to invest and you desire somebody to do it for you there’s just a number of manner ins which that can occur the firstly you can work with an investment portfolio supervisor they’ll normally charge a rather a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds particular funds are created 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 too now if you’re brand new to a total please bear in mind this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning about please do study the platform do not simply presume since 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 alternative too so you actually get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something since that person has stated they have actually made earnings 14 months in a row purchase these options because you believe is the right 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 aspect that is probably.
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famous for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your money will be simulated with it so that suggests if for example 10 of their financial 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 costs involved truly crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine business 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 zero fee websites then may not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you in fact begin buying copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges truly important to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission costs are totally free nevertheless there are a number of other costs the first one is withdrawal fees so you can obviously put cash in now if you remain 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 but when you want to withdraw your cash so you offer your shares you offer 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 obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing but that is a charge to keep in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and 2 open market anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they really giving 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 offer me us dollars rather you have to pay their costs now the terrific feature of though when you have actually converted your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their website won’t certainly limit you in any way nevertheless we have to know 2 other fees the first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you
on is essentially the difference that is part of the investment platform in 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 actually implies that when you wish to offer or buy as you can see it’s not the price you’re seeing up here let me reveal you that again so the current rate of tesla is the worth 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 way that they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you state alright well why does that occur it simply 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 which is how they make a little bit of money on those spread out costs it’s typically exceptionally small 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 little bit cash now the last accomplishment is called an
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overnight cost now this is truly essential if you’re in fact utilizing cfds yourself too an over night fee is when you’re not doing that buy offer deal in the same day alright there’s then an over night charge 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 really buying out the etf the stock the product and using time one utilize which indicates you’re actually buying the precise possession rather than utilizing utilize anyhow you won’t get hit with these costs but these charges are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you go into the assistance section this isn’t the overnight costs information you can see precisely the breakdown and it’ll tell 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 said to cfds there are some surcharges of course depending on what you are investing in also this is on your own so keep that in mind but complete charges are completely within their help details alright and we spoke about as well as totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of in fact utilizing these copy functions they do not have any additional costs on top of the regular fees that
exist now what you need to keep in mind though is these possibly managed by other people totally or in some cases have developed portfolios you have actually got a genuine person doing the management you need to ensure you choose the individual that’s right for you just like any line of work this is your monetary assets so we definitely require to ensure it’s the right 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 number 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 choice to invest real money or a virtual platform virtual means i believe 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 information or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash maybe this is a fantastic option for you once again to evaluate the theories alright you might want to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it certainly you may have missed out on gains and losses during that time of course if you had actually invested your real money it enables you to develop 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 really how to copy people and copy portfolios now here’s something to remember prior to you select someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i indicate by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply suggests am i okay with possibly losing an excellent quantity of this financial investment or acquiring as
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well now remember everything is downs and ups you will make money you’ll lose cash that’s why they make the statistic 75 people will lose cash but that similarly suggests they’ll lose at some point in their journey certainly individuals do make money too and i have actually got videos all about how you can make certain you are among the people to in fact generate income but in this scenario ensure you research study your threat level would you be fine giving your cash to someone else which is successfully what you’re doing and trusting them make certain you comprehend what they’re investing in completely if you’re somebody who isn’t wanting to be that risky don’t select somebody who’s completely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong products
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like gold or even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact utilize this too truly easily over here you can copy individuals now it will give you a great deal of choices and you can utilize the system to actually look for someone that you elegant really following so let’s see possibly we desire somebody from unified kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has actually satisfied that criteria and it does give you a risk factor too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not suggest 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 simple as clicking the copy button and off you go and then you understand ask you to verify are you all right with this and off you go now another method to in fact deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine really that i invest in too which is good so in fact for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the kind of main food companies and you’ve got you understand pharmaceutical and production business as that. What It Looks Like To Trade On Etoro.
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