We get htis a lot on our site the answer to Does Etoro Ask For Social Security Number….Concerns that i speak with new financiers what if you’re brand new to investing you merely do not wish to decide what you really wish to invest and you desire somebody to do it for you there’s just a number of ways that that can occur the first off you can employ an investment portfolio manager they’ll generally charge a quite a high premium to do that possibly one or two percent of your revenues will go to them the other thing is naturally you can purchase mutual funds specific funds are created 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 keep in mind this platform is quite sophisticated you can do cfds which naturally cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform do not just presume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice too so you in fact get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your money 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 said they have actually made profit 14 months in a row buy these options due to the fact that you believe is the ideal ones for you and that being stated 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 most likely.
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famous for it’s the alternative to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means 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 charges involved actually critical you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are real 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 no fee websites then may not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and finally some best advice 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 crucial to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling alright so commission costs are free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can obviously put cash in now if you remain 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 however when you want 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 knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you might state all right that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those alternatives that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends entirely how you’re investing but that is a charge to remember the second cost that i’ve 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 which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they really offering 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 give me us dollars instead you have to pay their fees now the fantastic feature of though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests 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 additional costs so that’s really great using that part of their website won’t definitely restrict you in any way nevertheless we have to know two other fees the first being what’s called spread fees fine and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you
on is basically the distinction that becomes part of the investment platform in between the buy cost and the sale price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that actually suggests that when you want to offer or buy as you can see it’s not the price you’re seeing up here let me reveal you that once again so the existing price of tesla is the value of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of make money from you whenever you do a purchaser’s share so keep that in mind clearly it’s more costly to purchase than it is to offer so they’re going to offer 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 distinction between if you’re buying it then you wish to sell it which is how they make a little bit of money on those spread out charges it’s typically incredibly little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit cash now the last accomplishment is called an
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overnight cost now this is actually crucial if you’re really using cfds yourself as well an overnight cost is when you’re refraining from doing that buy offer transaction 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 before cruising a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one leverage which means you’re in fact purchasing the specific property rather than using take advantage of anyway you won’t get hit with these costs however these charges are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s state if you enter into the help section this isn’t the over night fees 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 overnight or you’re doing over weekends and that only uses as i said to cfds there are some additional charges of course depending on what you are purchasing as well this is on your own so keep that in mind however full fees are totally within their assistance information all right and we spoke about as well as totally free to deposit in but 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 charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of in fact using these copy operates they do not have any additional fees on top of the regular charges that
exist now what you need to remember though is these possibly managed by other people totally or sometimes have produced portfolios you’ve got a genuine person doing the management you need to make sure you select the individual that’s right for you much like any profession this is your financial assets so we absolutely require to ensure it’s the ideal individual for us prior to 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 different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual means i believe 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 basically have this virtual portfolio mimic as if you are utilizing your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine money possibly this is a great alternative for you again to test the theories alright you might want to purchase tesla or apple or this etf why not use the virtual alternative as a method to kind of safe play with it certainly you may have lost out on gains and losses throughout that time obviously if you had actually invested your genuine cash it allows you to build confidence comprehend the platform so that’s one choice 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 keep in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i mean by that undoubtedly 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 means am i all right with possibly losing an excellent amount of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 people will lose cash however that equally suggests they’ll lose at some point in their journey clearly people do earn money as well and i have actually got videos everything about how you can make sure you’re one of individuals to really make money but in this situation ensure you research your threat level would you be alright giving your money to another person which is efficiently what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re someone who isn’t wishing to be that dangerous do not select someone who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or perhaps oil plus more conventional 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 say you can really use this too really quickly over here you can copy people now it will offer you a lot of options and you can utilize the system to in fact look for someone that you fancy actually following so let’s see perhaps we want someone from joined kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has satisfied that requirements and it does offer you a threat element 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 individuals that have quite high returns
remember it resembles anything to do with the news or forecasts of the future this does not imply 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 confirm are you alright with this and off you go now another way to actually deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact buying so let’s go 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 absolutely like kind of into those blue box and the tech industry she’s got some of mine actually that i buy too which is great so really for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s also got a little bit more um of the type of main food companies and you’ve got you know pharmaceutical and production business as that. Does Etoro Ask For Social Security Number.
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