We get htis a lot on our site the answer to Can I Use Etoro If Im Under 18….Questions that i speak with brand-new financiers 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 somebody to do it for you there’s only a number of manner ins which that can take place the first off you can hire a financial investment portfolio manager they’ll usually charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is of course you can purchase mutual funds specific funds are developed 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 too now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform don’t just assume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice also so you really get used to the structure of the website and then when you’re ready to use your own cash 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 business if you select to in this specific video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something since that individual has said they have actually made revenue 14 months in a row invest in these choices because you think is the right ones for you which being said let’s dive straight 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 most likely.
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popular for it’s the option to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can actually state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for example 10 of their financial 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 charges involved truly important you understand what are the expenses 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 involved and even some of the absolutely no fee sites then might not charge you for actually buying and selling funds or etfs individual products private stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 know before you in fact begin purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with charges really crucial to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling all right so commission fees are complimentary nevertheless there are a couple of other charges the first one is withdrawal charges 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 automatically converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those alternatives that they have a great deal of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing however that is a cost to remember the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow 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 cost now when you use anybody so if you’re utilizing trading two and two open market anybody this is standard they have i suppose stuck with whatever fee 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 is there what are they actually providing you in regards to 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 provide me us dollars rather you need to pay their charges now the excellent aspect of though when you have actually converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their website will not definitely restrict you in any way nevertheless we have to understand two other fees the first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread cost as i’m going to show you
on is essentially the difference that becomes part of the investment platform between the buy rate and the list price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really suggests that when you wish to sell or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the present cost of tesla is the value of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll find this everywhere 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 certainly it’s more pricey to buy 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 occur it just does that is the nature of a lot of platforms out there there’s a difference 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 charges it’s generally extremely small it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a little bit money now the last task is called an
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over night charge now this is actually important if you’re in fact utilizing cfds yourself also an overnight charge is when you’re refraining from doing that buy sell deal in the very same day fine there’s then an overnight charge charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one utilize which means you’re actually buying the exact property instead of utilizing utilize anyway you won’t get hit with these fees but these costs are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you go into the assistance area this isn’t the over night charges information you can see exactly 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 applies as i said to cfds there are some added fees of course depending upon what you are investing in as well this is on your own so keep that in mind however full charges are entirely within their help info alright and we spoke about along with 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 fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of really using these copy functions they do not have any additional fees on top of the regular costs that
are there now what you need to remember though is these potentially managed by other people totally or in some cases have actually created portfolios you’ve got a real individual doing the management you need to make certain you pick the person that’s right for you just like any profession this is your financial properties so we absolutely need to ensure it’s the ideal person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a couple of various alternatives 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 real cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your charge card information or anything you can generally have this virtual portfolio simulate as if you are using your own money but really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money perhaps this is an excellent option for you once again to test the theories all right you may wish to purchase tesla or apple or this etf why not use the virtual choice as a way to kind of safe play with it obviously you may have lost out on gains and losses throughout that time naturally if you had invested your real cash it allows you to develop self-confidence understand the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember before you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i indicate by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply indicates am i okay with potentially losing an excellent amount of this financial investment or getting as
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well now keep in mind whatever is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose money but that equally indicates they’ll lose at some time in their journey certainly people do earn money also and i’ve got videos everything about how you can make sure you’re one of the people to in fact generate income but in this situation make sure you research study your danger level would you be all right giving your money to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing totally if you’re someone who isn’t wanting to be that risky don’t select someone who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong commodities
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like gold and even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really utilize this too actually quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to in fact search for someone that you elegant actually following so let’s see possibly we desire somebody from unified kingdom um who buys 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 discover everybody who has actually met that criteria and it does provide you a risk aspect 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
remember it resembles anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to verify are you okay with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she in fact investing in so let’s enter 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 certainly like sort of into those blue box and the tech market she’s got some of mine in fact that i purchase too which is great so actually for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the sort of primary food companies and you have actually got you understand pharmaceutical and production companies as that. Can I Use Etoro If Im Under 18.
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