We get htis a lot on our site the answer to Etoro Account Statement Explained….Questions that i speak with brand-new investors what if you’re brand new to investing you just don’t wish to decide what you actually wish to invest and you want somebody to do it for you there’s only a number of ways that that can occur the firstly you can work with a financial investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course 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 also now if you’re brand new to a total please keep in mind this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning more about please do study the platform do not simply assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you really get used to the structure of the site 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 investing in genuine business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something since that individual has actually stated they’ve made earnings 14 months in a row purchase these choices because you believe is the right ones for you and that being said let’s dive straight 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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famous for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your money will be mimicked 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 costs involved really crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real 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 might not charge you for really buying and selling funds or etfs private commodities individual stocks.
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there’ll be costs on other parts possibly 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 show you the fees with in particular in this video the next would be things to understand prior to you in fact begin purchasing copy trading or copy portfolios and finally some best guidance best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with costs really important to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling alright so commission charges are free however there are a couple of other charges the very first one is withdrawal fees so you can certainly put cash in now if you’re in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you sell your shares you offer your products whatever you’re selling 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 understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say all right that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just among those alternatives that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing but that is a charge to keep in mind the second cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an option 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 fee now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is basic they have i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they actually offering 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 state provide me us dollars instead you have to pay their costs now the great aspect of however when you’ve converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent utilizing that part of their site will not certainly restrict you in any way however we need to be aware of two other charges the very first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread charge as i’m going to show you
on is basically the difference that is part of the financial investment platform between the buy rate and the price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that really means that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me reveal you that again so the current rate of tesla is the worth of a share what’s called spread fees is the distinction 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 each time you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to sell so they’re going to give you less back with your sale and you say all right well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it and that is how they make a little bit of money on those spread charges it’s typically exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit money now the last task is called an
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over night fee now this is really important if you’re in fact using cfds yourself as well an overnight cost is when you’re refraining from doing that buy sell transaction in the same day all right there’s then an over night fee charged or even 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 in fact buying out the etf the stock the product and using time one utilize which indicates you’re actually purchasing the precise possession instead of utilizing take advantage of anyway you will not get hit with these charges however these costs are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s say if you enter into the assistance area this isn’t the overnight costs 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 overnight or you’re doing over weekends which only applies as i said to cfds there are some service charges naturally depending on what you are purchasing as well this is on your own so keep that in mind but complete costs are completely within their assistance information alright and we discussed along with complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of in fact utilizing these copy functions they do not have any extra charges on top of the regular charges that
are there now what you need to bear in mind though is these potentially handled by other individuals completely or often have actually created portfolios you’ve got a genuine individual doing the management you need to ensure you select the individual that’s right for you much like any profession this is your monetary possessions so we definitely need to make sure it’s the best person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of various alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real 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 cash that you’re investing you won’t need to put in your charge card details or anything you can generally have this virtual portfolio simulate as if you are using your own cash however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money perhaps this is a terrific choice for you again to test the theories fine you may want to buy tesla or apple or this etf why not utilize the virtual choice as a way to type of safe have fun with it clearly you might have lost out on gains and losses during that time naturally if you had actually invested your genuine money 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 really how to copy people and copy portfolios now here’s something to bear in mind prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i suggest by that clearly 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 means am i alright with possibly losing a good amount of this investment or getting 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 fact 75 people will lose money but that equally indicates they’ll lose eventually in their journey undoubtedly individuals do make money also and i’ve got videos everything about how you can ensure you’re one of the people to in fact make money but in this scenario make sure you research your threat level would you be all right providing your money to somebody else which is effectively what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re someone who isn’t wanting to be that risky do not choose someone who’s entirely into crypto or currency conversion think of it you ‘d most likely want 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 very same with who you’re following now as i say you can actually utilize this too really easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to actually look for somebody that you expensive really following so let’s see maybe we desire someone from joined kingdom um who invests in let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds a great quantity and i can find everyone who has met that requirements and it does provide you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have quite high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to verify are you all right with this and off you go now another way to actually deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she really buying 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 excellent to know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is excellent so actually for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the kind of main food companies and you have actually got you understand pharmaceutical and production companies as that. Etoro Account Statement Explained.
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