We get htis a lot on our site the answer to What Happens After I Close Etoro Account….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t wish to decide what you in fact wish to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the first of all you can work with a financial investment portfolio manager they’ll normally charge a rather 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 particular 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 too now if you’re brand new to a total please keep in mind this platform is rather sophisticated you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform do not just presume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you actually get used to the structure of the website 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 risk this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually said they have actually made earnings 14 months in a row purchase these choices due to the fact that you think is the right ones for you which being stated let’s dive directly in [Music] so the 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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famous for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit 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 precise portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests if for instance 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 also cover is the costs included truly important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine 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 zero cost sites then may not charge you for actually buying and selling funds or etfs specific products specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 in fact begin buying copy trading or copy portfolios and finally some best advice finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs actually crucial to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling okay so commission charges are free however there are a couple of other costs the very first one is withdrawal fees so you can certainly put cash in now if you remain in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you sell 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 naturally understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those choices that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you understand depends completely how you’re investing but that is a charge to remember the 2nd charge that i have actually touched upon is that conversion cost 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 fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two open market anybody this is standard they have i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually giving you in terms of 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 say offer me us dollars rather you need to pay their charges now the terrific thing about though when you have actually transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests 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 additional fees so that’s really great utilizing that part of their site will not certainly limit you in any way nevertheless we need to know 2 other charges the first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread cost as i’m going to show you
on is essentially the difference that belongs to the financial investment platform between the buy rate and the price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that actually suggests that when you want to offer or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that again so the present price of tesla is the value of a share what’s called spread fees is the difference then in fact to buy that share on the platform and you’ll find this all over this is another way that they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind certainly 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 alright well why does that occur 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 offer it and that is how they make a little bit of money on those spread costs it’s generally incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit money now the last accomplishment is called an
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over night cost now this is actually important if you’re really using cfds yourself too an over night fee is when you’re not doing that buy offer deal in the exact same day okay there’s then an overnight cost charged and even 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 using time one take advantage of which suggests you’re actually purchasing the specific property instead of using utilize anyhow you won’t get hit with these charges however these fees are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the very same day so let’s say if you enter into the assistance area this isn’t the overnight fees details you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only uses as i stated to cfds there are some added fees obviously depending upon what you are buying also this is on your own so keep that in mind however complete charges are completely within their assistance info alright and we talked about in addition to totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of in fact using these copy functions they do not have any extra fees on top of the typical charges that
are there now what you require to remember though is these possibly managed by other individuals totally or sometimes have created portfolios you have actually got a genuine person doing the management you have to make certain you choose the person that’s right for you much like any type of work this is your financial assets so we definitely require to ensure it’s the right individual for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of various 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 option to invest real 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 won’t 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 however really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is a terrific alternative for you once again to evaluate the theories fine you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it clearly you may have missed out on gains and losses during that time of course if you had actually invested your genuine money it enables you to develop self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i mean by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply suggests am i all right with possibly losing a good quantity of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will make money you’ll lose money that’s why they make the statistic 75 individuals will lose money however that similarly indicates they’ll lose eventually in their journey obviously people do generate income too and i have actually got videos all about how you can ensure you are among individuals to actually earn money but in this circumstance make sure you research your threat level would you be okay giving your money to someone else which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re somebody who isn’t wanting to be that dangerous don’t pick someone 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 conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact utilize this too actually easily over here you can copy people now it will give you a great deal of choices and you can utilize the system to really search for someone that you elegant really following so let’s see perhaps we want someone from joined kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a great quantity and i can discover everybody who has met 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 obviously there are a number of people that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to verify are you okay with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she in fact buying so let’s go 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 absolutely like sort of into those blue box and the tech industry she’s got a few of mine really that i purchase too which is excellent so in fact for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she chooses she’s also got a little bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production companies as that. What Happens After I Close Etoro Account.
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