We get htis a lot on our site the answer to How To Interpret Etoro 1099K….Questions that i speak with new investors what if you’re brand new to investing you just do not wish to choose what you actually want to invest and you desire somebody to do it for you there’s only a number of manner ins which that can occur the firstly you can employ an investment portfolio manager they’ll typically charge a rather a high premium to do that maybe one or two percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular funds are produced 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 rather advanced you can do cfds which obviously cfds are ways of investing
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with not really having the total of capital so with anything that you’re learning more 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 experiment with it even invest with virtual cash they give that alternative as well so you in fact get used to the structure of the website and after that 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 investing in genuine companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that person has said they have actually made revenue 14 months in a row invest in these choices due to the fact that you think is the ideal 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’s part of social trading which is one aspect that is most likely.
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popular for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for example 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 also cover is the fees involved really vital you understand what are the expenses of this now with any platform there will be some cost to clearly these are real companies 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 sites then may not charge you for really buying and selling funds or etfs private products individual stocks.
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there’ll be charges on other parts maybe 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 show you the charges with in particular in this video the next would be things to understand prior to you really start investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with costs really important to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling okay so commission costs are free however there are a number of other charges the very first one is withdrawal costs so you can clearly put money 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 but when you wish to withdraw your money so you sell your shares you sell 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state alright that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those alternatives that they have a great deal of platforms obviously are complimentary 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 six months you know depends entirely how you’re investing however that is a fee to remember the 2nd charge 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 fine that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and two open market anybody this is standard 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 utilize their platform go from uk to us then that conversion fee is there what are they in fact 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 state give me us dollars rather you need to pay their costs now the great aspect of though when you have actually converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good using that part of their site won’t certainly limit you in any way however we have to be aware of 2 other costs the first being what’s called spread fees alright and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is generally the distinction that becomes part of the financial investment platform between the buy rate 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 right now tesla’s dollar value 599 per share in tesla that actually implies that when you wish to purchase or offer as you can see it’s not the price 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 charges is the difference 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 profit from you every time you do a buyer’s share so keep that in mind clearly it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you say all right well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference 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 out fees it’s normally exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a bit money now the last task is called an
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overnight fee now this is truly important if you’re actually using cfds yourself also an over night charge is when you’re refraining from doing that buy offer transaction in the same day fine there’s then an over night charge charged and even if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which implies you’re actually purchasing the exact property instead of using utilize anyway you won’t get hit with these costs but these costs are if you’re utilizing utilize and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s say if you enter into the aid section this isn’t the over night costs information 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 over night or you’re doing over weekends and that just applies as i stated to cfds there are some added fees of course depending on what you are purchasing too this is on your own so keep that in mind however full costs are entirely within their assistance information okay and we spoke about in addition to free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of actually using these copy operates they do not have any additional fees on top of the normal charges that
exist now what you require to bear in mind though is these potentially managed by other individuals completely or in some cases have actually created portfolios you’ve got a real individual doing the management you have to make certain you pick the person that’s right for you just 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 want to utilize this function we’ve got a number of various options for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual ways 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 need to put in your charge card information or anything you can generally have this virtual portfolio simulate as if you are using your own cash but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash maybe this is a terrific choice for you once again to evaluate the theories alright you may want to buy tesla or apple or this etf why not utilize the virtual option as a method to sort of safe have fun with it clearly you might have missed out on gains and losses during that time naturally if you had invested your genuine cash it permits you to develop self-confidence understand the platform so that’s one option 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 keep in mind prior to you select 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 indicate by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk simply indicates am i fine with potentially losing a great amount of this investment or getting as
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well now keep in mind whatever is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 people will lose cash however that similarly means they’ll lose eventually in their journey clearly individuals do generate income as well and i’ve got videos all about how you can make certain you are among the people to actually generate income but in this circumstance make sure you research your risk level would you be okay providing your cash to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re someone who isn’t wishing to be that dangerous don’t pick someone who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong commodities
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like gold or even oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really use this too really easily over here you can copy people now it will offer you a great deal of options and you can use the system to actually look for someone that you elegant really following so let’s see maybe we desire somebody from joined kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has met that criteria and it does provide you a risk aspect too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of people that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not indicate 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 know ask you to verify are you fine with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she in fact 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 great to know ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got some of mine in fact that i buy too which is great so actually for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s likewise got a little bit more um of the kind of main food business and you’ve got you know pharmaceutical and production business as that. How To Interpret Etoro 1099K.
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