We get htis a lot on our site the answer to Can I Trade Currencies With Etoro….Concerns that i hear from brand-new investors what if you’re brand new to investing you just do not wish to choose what you in fact want to invest and you want someone to do it for you there’s just a couple of ways that that can occur the first off you can work with an investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds specific 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 too now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which naturally cfds are ways 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 simply assume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you actually get utilized 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 obviously 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 individuals’s financial investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they’ve made revenue 14 months in a row purchase these choices due to the fact that you think is the ideal ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to 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 generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really state i want to do precisely what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they buy 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 money in so we’re going to also cover is the fees included really critical you understand what are the costs of this now with any platform there will be some expense to certainly these are real business 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 websites then may not charge you for really buying and selling etfs or funds private commodities specific 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 kinds 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 understand prior to you really start investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with charges actually crucial to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling fine so commission costs are complimentary however there are a couple of other costs the first one is withdrawal costs so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say fine that’s quite pricey 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 one of those choices that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing but that is a cost to keep in mind the second fee that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps 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 utilizing trading 2 and 2 open market anybody this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists 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 say provide me us dollars instead you have to pay their fees now the excellent aspect of however when you’ve transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform 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 great using that part of their site won’t certainly restrict you in any way nevertheless we have to know two other fees the very first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is essentially the distinction that becomes part of the investment platform between the buy price and the sale price fine 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 in fact indicates that when you wish to sell or purchase as you can see it’s not the cost you’re seeing up here let me show you that again so the present price of tesla is the worth of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase 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 happen it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to sell it and that is how they make a little bit of money on those spread out fees it’s typically extremely small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit cash now the last task is called an
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over night cost now this is actually important if you’re in fact using cfds yourself as well an over night fee is when you’re refraining from doing that buy sell transaction in the very same day okay there’s then an over night cost charged or even if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which means you’re in fact purchasing the exact property rather than using utilize anyway you won’t get hit with these fees however these costs are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s state if you enter into the help area this isn’t the over night charges information you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some added fees of course depending upon what you are purchasing too this is on your own so keep that in mind however complete costs are totally within their aid info alright and we talked about in addition to complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of really utilizing these copy works they do not have any extra charges on top of the regular charges that
are there now what you need to bear in mind though is these potentially managed by other individuals completely or in some cases have produced portfolios you have actually got a genuine person doing the management you need to make sure you choose the individual that’s right for you much like any profession this is your financial possessions so we absolutely require to make sure it’s the ideal individual for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of various alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual ways 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 require to put in your charge card information or anything you can basically have this virtual portfolio simulate as if you are utilizing your own cash however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash maybe this is an excellent choice for you again to check the theories okay you may wish to buy tesla or apple or this etf why not use the virtual option as a way to sort of safe have fun with it clearly you may have missed out on gains and losses throughout that time naturally if you had actually invested your real money it permits you to develop self-confidence understand 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 bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i imply by that undoubtedly 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 just indicates am i alright with possibly losing an excellent amount of this investment or getting as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash however that equally means they’ll lose eventually in their journey clearly people do make money also and i have actually got videos everything about how you can make sure you’re one of individuals to in fact make money however in this situation ensure you research study your threat level would you be all right providing your cash to another person which is efficiently what you’re doing and trusting them ensure you understand what they’re buying fully if you’re somebody who isn’t wishing to be that dangerous do not pick somebody who’s completely 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 might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually utilize this too truly easily over here you can copy people now it will provide you a great deal of choices and you can use the system to really look for somebody that you fancy actually following so let’s see maybe we desire somebody from joined kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has actually satisfied that requirements and it does provide you a threat aspect also so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no other 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 validate are you fine with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact buying 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 certainly like kind of into those blue box and the tech market she’s got some of mine actually that i invest in too which is good 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 business 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 have actually got you understand pharmaceutical and production business as that. Can I Trade Currencies With Etoro.
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