We get htis a lot on our site the answer to How Does Etoro Wallet Work?….Questions that i hear from new investors what if you’re brand new to investing you just don’t wish to decide what you actually wish to invest and you desire somebody to do it for you there’s just a couple of ways that that can happen the first of all you can hire an investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can buy mutual funds specific funds are produced once again with an account supervisor 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 innovative you can do cfds which naturally cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning more about please do study the platform do not just presume because i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you in fact 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 naturally your capital is at risk this is investing we’re doing you’re buying real business if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they’ve made earnings 14 months in a row purchase these options because you believe is the best ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
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well-known for it’s the alternative to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included really important you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real business 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 cost sites then might not charge you for really buying and selling etfs or funds specific products specific 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 costs 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 before you actually start purchasing copy trading or copy portfolios and lastly some finest guidance 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 comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling all right so commission charges are free nevertheless there are a couple of other fees the first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those alternatives that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you understand depends totally how you’re investing but that is a fee to keep in mind the second charge that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they really offering you in terms of 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 instead you need to pay their fees now the terrific thing about though when you have actually transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial 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 additional costs so that’s truly good using that part of their website won’t definitely restrict you in any way nevertheless we have to be aware of 2 other fees the first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is essentially the distinction that belongs to the investment platform in between the buy price and the sale price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that in fact indicates that when you wish to sell or buy as you can see it’s not the rate you’re seeing up here let me show you that again so the current 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 discover this everywhere this is another manner in which they make a small amount of benefit from you every time you do a buyer’s share so keep that in mind obviously it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you say alright well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to sell it and that is how they make a bit of cash on those spread out fees it’s usually incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit money now the last task is called an
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overnight charge now this is really essential if you’re actually using cfds yourself also an overnight cost is when you’re refraining from doing that buy sell transaction in the same day fine there’s then an over night cost charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one utilize which implies you’re in fact buying the specific asset rather than utilizing utilize anyway you won’t get hit with these costs however these costs are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s state if you go into the assistance area this isn’t the overnight costs details you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some added fees obviously depending upon what you are buying too this is on your own so keep that in mind however full fees are totally within their help information all right and we discussed in addition to totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 various ways of actually using these copy functions they do not have any additional fees on top of the normal fees that
exist now what you need to bear in mind though is these potentially managed by other individuals completely or in some cases have actually produced portfolios you’ve got a genuine person doing the management you need to make certain you choose the individual that’s right for you just like any line of work this is your monetary possessions so we definitely need to make certain it’s the ideal person 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 different choices 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 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 require to put in your charge card details or anything you can essentially have this virtual portfolio imitate as if you are using your own money but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a terrific choice for you once again to test the theories fine you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe have fun with it obviously you might have lost out on gains and losses throughout that time naturally if you had actually invested your genuine money it allows you to construct 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 in fact how to copy individuals and copy portfolios now here’s something to remember prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i mean by that obviously 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 risk just implies am i fine with possibly losing a good amount of this financial investment or getting as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose cash but that equally means they’ll lose at some point in their journey clearly people do generate income too and i’ve got videos all about how you can make sure you’re one of the people to actually generate income however in this situation make sure you research your threat level would you be all right offering your cash to someone else which is effectively what you’re doing and trusting them make sure you comprehend what they’re investing in totally if you’re somebody who isn’t wanting to be that dangerous don’t select someone who’s completely into crypto or currency conversion consider it you ‘d probably want a backbone of strong products
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like gold or even oil plus more traditional 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 state you can actually use this too actually easily over here you can copy people now it will give you a lot of choices and you can use the system to in fact look for someone that you elegant actually following so let’s see possibly we want somebody from united kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a good amount and i can discover everybody who has satisfied that criteria and it does offer you a threat 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 variety of individuals that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to validate are you fine with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got some of mine really that i buy too which is good so really for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s also got a little bit more um of the type of main food business and you’ve got you know pharmaceutical and production business as that. How Does Etoro Wallet Work?.
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