We get htis a lot on our site the answer to Should I Give My Social Security Number To Etoro….Questions that i speak with new investors what if you’re brand new to investing you just don’t wish to choose what you in fact want to invest and you desire someone to do it for you there’s only a couple of ways that that can happen the firstly you can work with a financial investment portfolio supervisor they’ll usually charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular funds are developed 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 an overall please remember this platform is rather sophisticated you can do cfds which of course cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform do not simply assume since i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you really get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something since that person has said they’ve made earnings 14 months in a row purchase these choices since you think is the best ones for you which 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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popular for it’s the option to see what other traders are doing amazing 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 implies with our money we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included truly important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies 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 fee sites then might not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you actually start investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs really important to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling all right so commission charges are totally free however there are a couple of other charges the first one is withdrawal charges so you can certainly put money in now if you remain 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 however when you want to withdraw your cash so you offer 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 five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those alternatives that they have a lot of platforms undoubtedly 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 once every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the second charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’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 buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and two free trade anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort 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 giving you in regards to 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 say give me us dollars rather you have to pay their costs now the great thing about though when you’ve converted your cash you do not need to invest it immediately that dollar worth can being 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 costs so that’s truly good using that part of their website won’t certainly restrict you in any way however we need to understand two other costs the first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is essentially the difference that is part of the investment platform between the buy price and the list price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that actually means that when you wish 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 cost of tesla is the worth of a share what’s called spread charges 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 profit from you each time you do a buyer’s share so keep that in mind certainly it’s more pricey to buy than it is to sell so they’re going to provide you less back with your sale and you state 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 which is how they make a little bit of money on those spread out costs it’s usually incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit money now the last feat is called an
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over night cost now this is actually essential if you’re in fact utilizing cfds yourself as well an over night fee is when you’re refraining from doing that buy sell transaction in the very same day alright there’s then an over night cost charged or even if you go from the friday to the monday before sailing a weekend charge now this only 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 precise asset rather than using leverage anyway you will not get hit with these charges but these fees are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s say if you go into the aid area this isn’t the overnight fees 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 over night or you’re doing over weekends which only applies as i said to cfds there are some added fees of course depending upon what you are purchasing as well this is on your own so keep that in mind but full fees are completely within their aid information fine and we spoke about along with totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of really using these copy works they don’t have any extra fees on top of the typical costs that
are there now what you require to bear in mind though is these possibly handled by other people entirely or often have actually produced portfolios you have actually got a real person doing the management you need to make sure you pick the individual that’s right for you just like any kind of work this is your financial possessions so we definitely require to make certain it’s the best person for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a couple of different options 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 money or a virtual platform virtual methods 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 charge card details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash perhaps this is a fantastic alternative for you once again to evaluate the theories okay you may wish to buy tesla or apple or this etf why not use the virtual alternative as a method to sort of safe play with it obviously you may have missed out on gains and losses during that time naturally if you had actually invested your real money it enables you to construct 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 actually 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 ensure you comprehend what your risk profile is now what do i imply by that certainly 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 indicates am i all right with potentially losing an excellent quantity of this investment or getting as
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well now remember everything is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 individuals will lose cash but that similarly implies they’ll lose eventually in their journey obviously individuals do generate income too and i have actually got videos all about how you can ensure you’re one of individuals to really earn money but in this scenario make sure you research your risk level would you be alright offering your money to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re somebody who isn’t wanting to be that risky do not choose somebody who’s entirely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more conventional 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 in fact utilize this too actually quickly over here you can copy people now it will offer you a lot of options and you can utilize the system to in fact search for someone that you fancy really following so let’s see maybe we desire somebody from joined kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has actually fulfilled that requirements and it does provide you a threat element too 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 individuals that have rather high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not imply someone 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 basic as clicking the copy button and off you go and then you know ask you to verify are you all right with this and off you go now another way to actually deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she actually purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine actually that i buy too which is great so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the sort of primary food companies and you have actually got you know pharmaceutical and production companies as that. Should I Give My Social Security Number To Etoro.
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