We get htis a lot on our site the answer to Does Etoro Support Quicken Direct Connect….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely do not want to decide what you really want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can happen the first of all you can hire an investment portfolio manager they’ll normally charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular 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 bear in mind this platform is rather advanced you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform do not simply assume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that option too so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not simply do something since that person has actually said they’ve made profit 14 months in a row invest in these choices since 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 element that is most likely.
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well-known for it’s the alternative to see what other traders are doing amazing we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates if for instance 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 fees included actually critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no charge sites then may not charge you for in fact buying and selling etfs or funds individual products specific stocks.
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there’ll be fees on other parts maybe 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 costs with in particular in this video the next would be things to know before you actually start purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs truly important to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling alright so commission fees are free however there are a number of other fees the very first one is withdrawal charges so you can certainly 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 however when you want to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may say okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those options that they have a great deal of platforms obviously are totally 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 6 months you understand depends entirely how you’re investing however that is a fee to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that matches 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 fee now when you utilize anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists 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 state offer me us dollars rather you have to pay their costs now the fantastic feature of however when you have actually transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial 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 charges so that’s actually excellent using that part of their website will not certainly restrict you in any way nevertheless we have to understand two other charges the very first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is generally the distinction that belongs to the financial investment platform between the buy cost 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 suggests that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me show you that once again so the present price of tesla is the worth of a share what’s called spread fees is the distinction then really to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you state fine well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to sell it and that is how they make a little bit of cash on those spread fees it’s normally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit cash now the last feat is called an
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overnight fee now this is actually crucial if you’re in fact using cfds yourself as well an over night cost is when you’re not doing that buy offer transaction in the same day fine there’s then an over night cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which suggests you’re in fact buying the precise possession instead of using utilize anyhow you won’t get hit with these fees however 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 enter into the aid area this isn’t the over night costs details you can see exactly the breakdown and it’ll inform 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 applies as i stated to cfds there are some added fees obviously depending upon what you are investing in too this is on your own so keep that in mind but complete costs are entirely within their aid info okay and we discussed as well as totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of in fact utilizing these copy works they do not have any additional charges on top of the typical fees that
are there now what you require to bear in mind though is these potentially managed by other people completely or in some cases have created portfolios you have actually got a genuine individual doing the management you have to make sure you select the person that’s right for you just like any line of work this is your monetary possessions so we definitely 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 utilize this function we have actually got a couple of different choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is an excellent choice for you once again to evaluate the theories alright you may wish to buy tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it obviously you might have missed out on gains and losses during that time obviously if you had invested your real cash it allows you to construct confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to bear in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i mean 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 just indicates am i all right with potentially losing a good amount of this financial investment or acquiring as
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well now remember whatever is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 people will lose money but that similarly implies they’ll lose at some time in their journey certainly individuals do earn money as well and i have actually got videos everything about how you can ensure you are among the people to in fact make money however in this scenario make certain you research study your risk level would you be alright offering your cash to another person which is effectively what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that risky don’t pick someone who’s entirely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more standard etfs and index funds you may 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 quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to actually look for somebody that you elegant really following so let’s see possibly we desire somebody from united kingdom um who purchases let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has met that criteria and it does provide you a risk element as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of people that have rather high returns
bear in mind it resembles 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 might make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to confirm are you all right with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she really buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is great so in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production business as that. Does Etoro Support Quicken Direct Connect.
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