We get htis a lot on our site the answer to Does Etoro Take American Express….Concerns that i hear from brand-new investors what if you’re brand new to investing you just don’t want to choose what you in fact wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can take place the firstly you can hire an investment portfolio supervisor they’ll normally charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is naturally you can purchase 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 also now if you’re brand new to a total please bear in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform do not just assume because i use it that you can utilize it immediately 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 then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that person has actually said they’ve made revenue 14 months in a row buy these choices since you believe is the right ones for you which being stated let’s dive directly 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 probably.
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famous for it’s the option to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of options and generally every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also 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 clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost sites then may not charge you for in fact buying and selling funds or etfs specific products specific stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you in fact start purchasing copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with costs really crucial to understand these now on there’s a number of fees there isn’t charges to do with actually buying and selling alright so commission costs are complimentary nevertheless there are a number of other charges the first one is withdrawal costs so you can clearly 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 on however when you want to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum quantity 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 might state alright 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 somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms obviously are complimentary 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 once every 6 months you know depends totally how you’re investing but that is a fee to keep in mind the 2nd charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy 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 buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two open market anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they actually giving 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 say offer me us dollars instead you have to pay their charges now the fantastic aspect of however when you have actually transformed your money you do not need to invest it right away 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 purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really good utilizing that part of their site will not definitely restrict you in any way nevertheless we have to be aware of two other charges the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread cost as i’m going to show you
on is basically the distinction that belongs to the investment platform between the buy price 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 value 599 per share in tesla that in fact indicates that when you want to buy or sell as you can see it’s not the rate you’re seeing up here let me show you that again so the present 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 discover this everywhere this is another way that they make a small amount of make money from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to offer so they’re going to give you less back with your sale and you say fine well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you wish to sell it which is how they make a little bit of cash on those spread fees it’s typically extremely small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a little bit cash now the last accomplishment is called an
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overnight cost now this is actually important if you’re actually utilizing cfds yourself as well an overnight cost is when you’re refraining from doing that buy sell transaction in the same day alright 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 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 purchasing the precise property rather than using utilize anyway you won’t get hit with these fees but these fees are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s state if you enter into the help area this isn’t the overnight costs details 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 which just applies as i stated to cfds there are some added fees obviously depending on what you are purchasing also this is on your own so keep that in mind however complete charges are entirely within their assistance info fine and we talked about along with free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 different ways of actually using these copy functions they do not have any additional costs on top of the typical fees that
are there now what you require to bear in mind though is these potentially managed by other individuals completely or sometimes have actually created portfolios you’ve got a genuine person doing the management you have to make certain you pick the individual that’s right for you much like any line of work this is your monetary assets 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 want to utilize this function we’ve got a couple of various options 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 methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your credit card information or anything you can basically have this virtual portfolio simulate as if you are utilizing your own cash but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash possibly this is a fantastic choice for you once again to evaluate the theories fine you may want to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it undoubtedly you might have lost out on gains and losses during that time of course if you had invested your real money it allows you to build self-confidence understand 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 in fact how to copy individuals and copy portfolios now here’s something to keep in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i suggest by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk simply suggests am i all right with possibly losing a good quantity of this financial investment or gaining as
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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose money but that equally means they’ll lose at some point in their journey obviously individuals do make money as well and i’ve got videos all about how you can make sure you’re one of the people to in fact make money but in this situation make sure you research study your risk level would you be all right giving your money to someone else which is successfully what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous don’t choose someone 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 perhaps oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really utilize this too truly easily over here you can copy people now it will offer you a lot of choices and you can utilize the system to in fact look for somebody that you elegant actually following so let’s see perhaps we desire someone from joined kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a good amount and i can find everyone who has actually fulfilled that criteria and it does offer you a risk aspect too 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
keep in mind it resembles anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance 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 validate are you okay with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she actually purchasing 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 good to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine actually that i purchase too which is excellent so actually for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s also got a bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production companies as that. Does Etoro Take American Express.
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