We get htis a lot on our site the answer to Is It Safe To Give Etoro My Social Security Number….Concerns that i hear from new investors what if you’re brand new to investing you just do not wish to choose what you in fact wish to invest and you want somebody to do it for you there’s just a number of manner ins which that can take place 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 profits will go to them the other thing is naturally you can purchase mutual funds particular funds are created 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 an overall please keep in mind this platform is rather sophisticated you can do cfds which of course cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform don’t just assume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you really get used to the structure of the site and then when you’re ready to use your own cash 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 real business if you select to in this specific video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something because that person has stated they’ve made revenue 14 months in a row buy these choices due to the fact that you believe is the best 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 most likely.
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famous for it’s the option to see what other traders are doing unbelievable we do not normally 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 money we can actually say i want to do precisely what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that means if for example 10 of their 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 charges involved really important you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then may not charge you for in fact buying and selling funds or etfs specific commodities individual stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the costs 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 best suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with fees actually important to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling fine 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 but when you want to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum quantity 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 make certain that i’m just withdrawing when i definitely require to now you may say all right that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those alternatives that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends totally how you’re investing but that is a charge to remember the 2nd cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is basic they have i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they really providing you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state give me us dollars rather you need to pay their fees now the excellent thing about however when you have actually converted your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary 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 costs so that’s actually good utilizing that part of their website will not definitely restrict you in any way nevertheless we need to be aware of two other costs the first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is basically the difference that becomes part of the investment platform between the buy cost and the sale 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 value 599 per share in tesla that really implies that when you want to sell or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing rate of tesla is the value 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 all over this is another way that they make a percentage of benefit from you every time you do a purchaser’s share so keep that in mind undoubtedly 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 okay well why does that occur it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to sell it which is how they make a bit of cash on those spread charges it’s normally extremely little it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit money now the last task is called an
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over night charge now this is really important if you’re in fact using cfds yourself as well an over night charge is when you’re refraining from doing that buy offer transaction in the same day alright there’s then an overnight charge charged or even if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which means you’re in fact purchasing the precise property rather than using utilize anyhow you won’t get hit with these charges however these charges are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy selling in the exact same day so let’s state if you enter into the help area this isn’t the overnight costs information you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only uses as i stated to cfds there are some additional charges obviously depending upon what you are investing in as well this is on your own so keep that in mind but full costs are entirely within their aid details fine and we spoke about as well as totally free 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 everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of in fact using these copy functions they do not have any additional fees on top of the normal costs that
are there now what you require to keep in mind though is these potentially managed by other people entirely or in some cases have actually developed portfolios you have actually got a real individual doing the management you need to make certain you pick the individual that’s right for you similar to any profession this is your financial assets so we definitely need to ensure 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 have actually got a couple of different alternatives for us first of all 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 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 will not require to put in your charge card information or anything you can generally have this virtual portfolio mimic as if you are utilizing 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 real money maybe this is a great option for you once again to check the theories all right you may want to purchase tesla or apple or this etf why not utilize the virtual option as a method to kind of safe play with it clearly you may have missed out on gains and losses throughout that time naturally if you had actually invested your genuine cash it permits you to develop confidence comprehend the platform so that’s one alternative 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 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 certain you comprehend 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 investments the riskier you can be run the risk of simply implies am i all right with possibly losing an excellent quantity of this financial investment or getting as
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well now remember whatever is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that equally means they’ll lose eventually in their journey obviously people do earn money also and i’ve got videos all about how you can ensure you are among the people to really generate income however in this situation make sure you research your risk level would you be alright providing your cash to somebody else which is effectively what you’re doing and trusting them make sure you understand what they’re buying completely if you’re somebody who isn’t wishing to be that risky don’t select someone who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more standard etfs and index funds you might 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 utilize this too truly quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to really search for somebody that you expensive really following so let’s see maybe we desire someone from unified kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can find everyone who has satisfied that requirements and it does offer you a risk element also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
remember it’s like 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 could make 4 or minus 50 there’s no way 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 verify are you okay 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 actually buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is great so actually for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s likewise got a little bit more um of the type of main food business and you have actually got you know pharmaceutical and production companies as that. Is It Safe To Give Etoro My Social Security Number.
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