We get htis a lot on our site the answer to Why Does Etoro Require Social Security Number….Concerns that i speak with new investors what if you’re brand new to investing you simply don’t wish to decide what you in fact want to invest and you want someone to do it for you there’s only a number of manner ins which that can happen the first off you can employ a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds specific 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 also now if you’re brand new to a total please remember this platform is rather innovative you can do cfds which naturally cfds are ways 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 don’t just presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you in fact get utilized to the structure of the website 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 danger this is investing we’re doing you’re purchasing genuine companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row buy these choices due to the fact that you think 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 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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popular for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved really vital you understand what are the costs of this now with any platform there will be some cost to obviously 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 some of the absolutely no fee sites then may not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to know before you actually begin investing in copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with costs actually crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling okay so commission charges are totally free however there are a number of other charges the 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 automatically 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 offer your commodities 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 of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state okay that’s quite 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 charges are just 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 largely it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’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 purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and two free trade anybody this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact 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 state provide me us dollars instead you need to pay their charges now the fantastic aspect of though when you have actually converted your money you do not have to invest it immediately 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their site will not certainly restrict you in any way however we need to know two other costs the very first being what’s called spread costs okay and i’m going to show you what i imply on now a spread fee as i’m going to show you
on is essentially the distinction that belongs to the investment platform in between the buy price 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 right now tesla’s dollar worth 599 per share in tesla that actually indicates that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that once again so the existing price of tesla is the worth of a share what’s called spread charges is the distinction then in fact to buy that share on the platform and you’ll find this all over this is another manner in which they make a percentage of profit from you every time you do a buyer’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to give you less back with your sale and you state all right well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread out charges it’s usually 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 little bit cash now the last task is called an
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over night cost now this is really crucial if you’re actually using cfds yourself as well an overnight fee is when you’re refraining from doing that buy offer transaction in the same day fine there’s then an over night charge charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which implies you’re in fact buying the exact possession rather than utilizing leverage anyhow you won’t get hit with these charges but these fees are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy selling in the exact same day so let’s say if you enter into the assistance area this isn’t the over night fees information you can see precisely 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 and that only uses as i stated to cfds there are some surcharges of course depending upon what you are purchasing also this is on your own so keep that in mind however complete charges are completely within their help info fine and we talked about in addition to 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 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 methods of actually using these copy operates they don’t have any extra fees on top of the typical charges that
exist now what you need to bear in mind though is these possibly handled by other people entirely or often have actually developed 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 similar to any type of work this is your monetary properties so we absolutely require to ensure it’s the ideal individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a number of various options for us firstly 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 methods 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 need to put in your charge card details or anything you can generally have this virtual portfolio imitate as if you are using your own money but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash perhaps this is a terrific choice for you once again to evaluate the theories all right you might wish to buy tesla or apple or this etf why not use the virtual choice as a method to kind of safe have fun with it certainly you might have missed out on gains and losses during that time obviously if you had actually invested your genuine cash it allows you to develop confidence understand the platform so that’s one alternative for you then next week and i’m going to go back 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 prior to you select somebody 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 imply 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 indicates am i okay with potentially losing a good amount of this investment or gaining 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 money but that similarly suggests they’ll lose eventually in their journey undoubtedly individuals do generate income as well and i’ve got videos all about how you can ensure you are among individuals to really earn money however in this circumstance ensure you research study your risk level would you be okay offering your cash to another person which is efficiently what you’re doing and trusting them make certain you understand what they’re buying completely if you’re somebody who isn’t wanting to be that dangerous don’t choose somebody who’s entirely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more conventional 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 state you can really utilize this too truly quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to really look for someone that you elegant actually following so let’s see possibly we want somebody from united kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can discover everybody who has fulfilled that criteria and it does provide you a threat aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to guarantee 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 validate are you alright with this and off you go now another way to in fact 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 buying 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 know ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine actually that i invest in too which is great so actually for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production business as that. Why Does Etoro Require Social Security Number.
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