We get htis a lot on our site the answer to How To Change Currency On Etoro….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply don’t want to choose what you in fact want to invest and you want somebody to do it for you there’s just a couple of manner ins which that can happen the first of all you can work with a financial investment portfolio manager they’ll generally 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 naturally you can buy mutual funds specific funds are developed once 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 of course cfds are ways 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 don’t simply assume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you really get utilized to the structure of the site and after that when you’re ready to utilize your own money 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 speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something because that individual has stated they have actually made revenue 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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popular for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that suggests if for instance 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 likewise cover is the fees involved truly vital you understand what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no charge websites then might not charge you for actually buying and selling etfs or funds individual products individual 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 sort of costs 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 really begin investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually crucial to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling alright so commission charges are complimentary however there are a number of other charges the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those choices that they have a lot of platforms undoubtedly are complimentary 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 once every six months you understand depends totally how you’re investing however that is a cost to remember the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow 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 cost now when you utilize anybody so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually giving 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 provide me us dollars instead you need to pay their costs now the great feature of though when you’ve transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that takes place 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 certainly restrict you in any way however we need to know two other fees the very first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is generally the difference that becomes part of the investment platform in between the buy rate and the price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really implies that when you want to sell or buy as you can see it’s not the rate you’re seeing up here let me show you that again so the current price of tesla is the worth of a share what’s called spread charges is the distinction then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a small amount of profit from you each time you do a purchaser’s share so keep that in mind obviously it’s more expensive to buy than it is to sell so they’re going to offer you less back with your sale and you state alright well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you wish to sell it and that is how they make a bit of cash on those spread out costs it’s usually extremely small 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 cash now the last feat is called an
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over night fee now this is truly important if you’re in fact utilizing cfds yourself also an overnight cost is when you’re refraining from doing that buy sell deal in the very same day all right there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re in fact buying the precise asset instead of utilizing utilize anyhow you won’t get hit with these fees but these charges are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s say if you enter into the aid area 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 charges 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 of course depending upon what you are buying as well this is on your own so keep that in mind but full fees are totally within their help information all right and we discussed as well as complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of in fact using these copy functions they don’t have any extra charges on top of the regular costs that
are there now what you need to keep in mind though is these possibly managed by other people completely or sometimes have created portfolios you’ve got a genuine individual doing the management you need to make certain you choose the individual that’s right for you just like any type of work this is your monetary possessions so we absolutely require to ensure 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 couple 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 cash or a virtual platform virtual means i think 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 credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money maybe this is a terrific alternative for you once again to check the theories alright you might want to purchase tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe play with it certainly you might have lost out on gains and losses throughout that time obviously if you had invested your real cash it allows you to construct confidence understand the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i mean 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 means am i alright with possibly losing an excellent amount of this investment or acquiring 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 statistic 75 individuals will lose money but that equally indicates they’ll lose at some time in their journey obviously people do earn money too and i’ve got videos everything about how you can make certain you’re one of the people to in fact make money however in this scenario make sure you research your risk level would you be fine giving your cash to someone else which is successfully what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re someone who isn’t wanting to be that risky do not choose somebody who’s completely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps oil plus more standard 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 in fact utilize this too really quickly over here you can copy people now it will give you a great deal of choices and you can use the system to in fact search for somebody that you elegant really following so let’s see perhaps we desire someone from unified kingdom um who invests in 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 find everyone who has met that criteria and it does offer you a risk element too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not mean someone 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 then you know ask you to validate are you alright with this and off you go now another method to actually deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she actually investing in 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 good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine actually that i purchase too which is good so really for me knowing what i like to buy my private 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 also got a bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production business as that. How To Change Currency On Etoro.
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