We get this a lot on our site the answer to When Close Trade Etoro….Questions that i speak with new financiers what if you’re brand new to investing you merely do not want to decide what you in fact wish to invest and you desire someone to do it for you there’s only a number of manner ins which that can occur the firstly you can hire a financial investment portfolio supervisor they’ll usually charge a quite a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is naturally you can buy mutual funds specific funds are produced 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 keep in mind this platform is rather innovative you can do cfds which obviously cfds are methods of investing
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with not really having the total of capital so with anything that you’re discovering please do study the platform do not simply presume because i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you actually get utilized 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 obviously your capital is at threat this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually stated they’ve made profit 14 months in a row buy these options due to the fact that you think is the right ones for you and that being stated let’s dive directly in [Music] so 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 most likely.
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well-known for it’s the alternative to see what other traders are doing extraordinary 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 implies with our money we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of options and generally every time they make a trade they buy they sell 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 money in so we’re going to likewise cover is the costs included really critical you understand what are the costs of this now with any platform there will be some expense to certainly 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 zero cost websites then may not charge you for really buying and selling etfs or funds individual commodities individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 begin purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with costs actually important to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission charges are complimentary nevertheless there are a couple of other charges the first one is withdrawal fees so you can certainly put money in now if you’re in the uk we put our uk cash.
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and it’s instantly 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 commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say fine that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those alternatives that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you know depends completely how you’re investing but that is a fee to keep in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’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 and even some crypto so i’m good 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 open market anybody this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge 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 state provide me us dollars rather you have to pay their fees now the great thing about however when you have actually converted your cash you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their website will not definitely limit you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you
on is generally the distinction that is part of the investment platform between the buy price 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 website right now tesla’s dollar worth 599 per share in tesla that really implies that when you want to purchase or sell as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present price of tesla is the value of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of profit from you every time you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to offer so they’re going to offer you less back with your sale and you state okay well why does that happen 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 sell it which is how they make a little bit of money on those spread out costs it’s typically exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit cash now the last accomplishment is called an
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over night cost now this is really crucial if you’re actually utilizing cfds yourself also an overnight cost is when you’re not doing that buy sell deal in the very same day okay there’s then an over night fee charged or even 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 really buying out the etf the stock the commodity and utilizing time one utilize which implies you’re really buying the exact asset instead of using take advantage of anyway you will not get hit with these fees but these charges are if you’re using take advantage of and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you go into the aid area this isn’t the overnight costs info you can see exactly the breakdown and it’ll inform 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 however full fees are entirely within their help info all right and we talked about in addition to free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of really utilizing these copy functions they do not have any extra charges on top of the regular charges that
are there now what you need to remember though is these possibly handled by other people totally or in some cases have created portfolios you have actually got a real individual doing the management you need to make sure you choose the individual that’s right for you much like any profession this is your monetary properties so we absolutely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of various alternatives for us first off if you’re brand new to investing i want to draw your attention to this within you have the option 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 cash that you’re investing you won’t need to put in your charge card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash however in fact buy 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 a terrific option for you again to check the theories fine you might want to purchase tesla or apple or this etf why not use the virtual option as a method to sort of safe play with it undoubtedly you might have lost out on gains and losses throughout that time naturally if you had actually invested your genuine money it permits you to develop confidence comprehend 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 actually how to copy individuals and copy portfolios now here’s something to remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i mean by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just implies am i alright with potentially losing a good amount of this investment or gaining as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose money however that equally suggests they’ll lose at some point in their journey obviously people do earn money too and i’ve got videos everything about how you can make certain you’re one of individuals to really earn money but in this scenario ensure you research your danger level would you be alright providing your money to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that dangerous do not pick someone who’s completely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you may 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 in fact use this too truly easily over here you can copy people now it will provide you a great deal of options and you can use the system to really search for someone that you fancy in fact following so let’s see possibly we desire somebody from unified kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has satisfied that criteria and it does provide you a risk aspect as well 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 individuals 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 mean someone will make 56 for you for the next 12 months they might make 4 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 after that you understand ask you to confirm are you alright with this and off you go now another way 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 quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to know ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got some of mine in fact that i buy too which is good so actually for me knowing what i like to purchase my specific 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 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. When Close Trade Etoro.
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