We get htis a lot on our site the answer to Does Etoro Wallet Support Ada….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just do not want to choose what you actually want to invest and you desire somebody to do it for you there’s just a number of ways that that can take place the to start with you can work with a financial investment portfolio manager they’ll generally charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are produced 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 bear in mind this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform do not just presume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that option also so you actually get utilized 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 naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that person has actually stated they have actually made profit 14 months in a row invest in these choices due to the fact that you think is the right ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
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popular for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates 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 likewise cover is the charges involved truly important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no cost websites then may not charge you for in fact buying and selling etfs or funds private commodities 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 kinds 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 know prior to you in fact begin investing in copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs truly essential to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling fine so commission costs are totally free however there are a couple of other fees the first one is withdrawal fees so you can undoubtedly put money 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 however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those choices that they have a great deal of platforms certainly 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 6 months you understand depends completely how you’re investing but that is a charge to remember the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact providing 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 give me us dollars rather you have to pay their charges now the terrific aspect of though when you’ve transformed 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 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 extra charges so that’s truly excellent using that part of their site will not definitely limit you in any way however we need to be aware of 2 other costs the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is generally the difference that belongs to the investment platform between the buy cost 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 website right now 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 rate you’re seeing up here let me show you that again so the current cost of tesla is the worth of a share what’s called spread charges is the difference then in fact to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to sell so they’re going to give you less back with your sale and you say fine well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to offer it which is how they make a little bit of cash on those spread out fees it’s normally extremely little it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit money now the last accomplishment is called an
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overnight cost now this is really important if you’re really using cfds yourself too an overnight cost is when you’re not doing that buy offer deal in the exact same day fine there’s then an overnight fee charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which suggests you’re really buying the specific possession instead of utilizing utilize anyhow you won’t get hit with these costs however these costs are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy selling in the very same day so let’s state if you go into the assistance section this isn’t the over night costs details you can see precisely 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 which only applies as i stated to cfds there are some added fees of course depending on what you are buying as well this is on your own so keep that in mind however complete charges are completely within their aid details alright and we talked about as well as free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 different ways of really utilizing these copy functions they do not have any extra costs on top of the normal fees that
exist now what you need to keep in mind though is these potentially managed by other people entirely or sometimes have actually developed portfolios you have actually got a real person doing the management you have to ensure you pick the person that’s right for you much like any line of work this is your financial possessions so we definitely require to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of various alternatives for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your credit card information or anything you can generally have this virtual portfolio mimic as if you are using your own money however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money perhaps this is a terrific choice for you again to check the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual option as a way to kind of safe have fun with it clearly you may have lost out on gains and losses throughout that time of course if you had actually invested your genuine money it enables you to build confidence understand the platform so that’s one alternative 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 keep in mind prior to you pick 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 imply 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 just suggests am i okay with possibly losing a great quantity of this financial investment or getting as
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well now keep in mind everything is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that similarly suggests they’ll lose at some time in their journey obviously individuals do generate income also and i’ve got videos everything about how you can ensure you are among the people to in fact earn money however in this scenario make certain you research your threat level would you be fine offering your cash to another person which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous don’t pick somebody who’s totally into crypto or currency conversion think of it you ‘d probably desire a foundation of strong products
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like gold or perhaps oil plus more standard etfs and index funds you may not desire 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 really easily over here you can copy individuals now it will give you a great deal of choices and you can utilize the system to really look for somebody that you fancy 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 gotten a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has met that criteria and it does give you a risk aspect also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to confirm are you alright with this and off you go now another way to really deep dive if we click 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 quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is good so actually for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s also got a bit more um of the type of main food business and you have actually got you know pharmaceutical and production companies as that. Does Etoro Wallet Support Ada.
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