We get htis a lot on our site the answer to Etoro Unable To Open A Position….Concerns that i speak with brand-new financiers what if you’re brand new to investing you merely do not wish to choose what you really 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 work with an investment portfolio manager they’ll usually charge a quite a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is of course 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 too now if you’re brand new to an overall please keep in mind this platform is quite innovative you can do cfds which of course cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning more about please do study the platform don’t just 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 cash they give that alternative as well so you actually get used to the structure of the site and after that 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 real companies if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row invest in these choices since you think is the ideal ones for you and that 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 probably.
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popular for it’s the choice to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can really say i want to do exactly what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests 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 fees involved truly critical you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real 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 zero charge websites then may not charge you for in fact buying and selling funds or etfs private products specific stocks.
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there’ll be costs on other parts perhaps 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 reveal you the charges with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs actually important to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling okay so commission fees are totally free nevertheless there are a couple of other charges 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 instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you sell your shares you offer your commodities 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 understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state okay that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those options that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends totally how you’re investing however that is a cost to remember the 2nd charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two free trade anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact 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 offer me us dollars rather you have to pay their costs now the fantastic aspect of however when you’ve converted your cash you do not have 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 preliminary 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 additional charges so that’s truly excellent utilizing that part of their site will not definitely limit you in any way nevertheless we have to know 2 other costs the very first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is basically the distinction that is part of the investment platform between the buy cost and the price okay 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 wish to offer or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing cost of tesla is the worth of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you state fine 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 costs it’s usually incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit money now the last accomplishment is called an
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overnight fee now this is really essential if you’re really using cfds yourself too an over night cost is when you’re not doing that buy sell transaction in the very same day fine there’s then an over night cost charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which suggests you’re really buying the specific property rather than utilizing leverage anyway you will not get hit with these fees however these charges are if you’re using leverage 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 say if you enter into the help area this isn’t the over night charges details you can see precisely 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 which just uses as i said to cfds there are some service charges obviously depending upon what you are buying too this is on your own so keep that in mind but complete costs are entirely within their help information all right and we discussed along with totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of actually using these copy operates they don’t have any extra charges on top of the normal costs that
exist now what you need to bear in mind though is these potentially handled by other people completely or sometimes have produced portfolios you have actually got a real person doing the management you need to make sure you select the individual that’s right for you just like any profession this is your monetary properties so we definitely need to ensure it’s the ideal individual 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 number of various alternatives 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 money that you’re investing you will not need to put in your charge card information or anything you can basically have this virtual portfolio simulate as if you are using your own cash but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money possibly this is a great choice for you once again to test the theories fine you might want to purchase tesla or apple or this etf why not use the virtual choice as a method to type of safe play with it clearly you may have missed out on gains and losses during that time naturally if you had invested your genuine cash it enables you to develop confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my genuine 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 choose someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i suggest by that obviously 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 fine with possibly losing a great amount of this financial investment or gaining as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose cash however that equally indicates they’ll lose eventually in their journey clearly people do generate income also and i have actually got videos everything about how you can ensure you are among individuals to actually make money however in this circumstance ensure you research your threat level would you be okay offering your cash to someone else which is successfully what you’re doing and trusting them ensure you understand what they’re investing in totally if you’re someone who isn’t wanting to be that risky do not select somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more traditional 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 say you can really use this too truly quickly over here you can copy individuals now it will offer you a great deal of choices and you can utilize the system to actually search for someone that you elegant in fact following so let’s see maybe we desire somebody from unified kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can find everybody who has actually satisfied that criteria and it does give you a risk element as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of individuals that have quite high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure 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 fine 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 really deep dive into what is she really buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got a few of mine in fact that i purchase too which is excellent so really for me understanding what i like to invest in my private stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a little bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production companies as that. Etoro Unable To Open A Position.
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