We get htis a lot on our site the answer to Why Does Etoro Need Your Ni Number….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply do not wish to decide what you really wish to invest and you want somebody to do it for you there’s only a couple of manner ins which that can take place the to start with you can hire a financial investment portfolio manager they’ll typically charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is of course you can purchase mutual funds particular funds are created 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 as well now if you’re brand new to a total please keep in mind this platform is rather innovative you can do cfds which naturally 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 more about please do study the platform do not just assume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you really get used 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 danger this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row purchase these choices since you believe is the right ones for you and that being said let’s dive directly in [Music] so 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 choice to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your cash will be simulated 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 really vital you understand what are the costs of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero charge websites then may not charge you for actually buying and selling funds or etfs specific commodities private stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering 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 costs 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 finally some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs really important to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling alright so commission costs are totally free however there are a number of other costs the very first one is withdrawal costs so you can certainly put money 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 later on however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount 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 sure that i’m just withdrawing when i absolutely need to now you might state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those choices that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a fee to remember the second cost that i’ve discussed is that conversion charge now with you’re handling 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 lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two free trade anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually 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 costs now the fantastic thing about though when you’ve converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their site won’t definitely limit you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you
on is basically the difference that is part of the investment platform between the buy price and the list price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really suggests that when you want to purchase or offer as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the present price of tesla is the value of a share what’s called spread charges is the difference then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind clearly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you say okay well why does that occur it just does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you wish to offer it which is how they make a bit of cash on those spread out fees it’s normally exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit money now the last task is called an
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overnight fee now this is truly crucial if you’re really utilizing cfds yourself also an over night cost is when you’re refraining from doing that buy offer transaction in the exact same day okay there’s then an over night charge 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 in fact buying out the etf the stock the commodity and using time one utilize which suggests you’re really buying the exact property instead of using utilize anyway you will not get hit with these charges but these costs are if you’re using utilize and cfds and after that you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you enter into the help 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 costs then for when you’re doing over night or you’re doing over weekends and that only uses as i said to cfds there are some surcharges obviously depending on what you are investing in too this is on your own so keep that in mind however complete fees are entirely within their aid details fine and we spoke about in addition to free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity 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 two different ways of really using these copy functions they do not have any additional fees on top of the normal fees that
are there now what you require to keep in mind though is these potentially handled by other people totally or often have developed portfolios you have actually got a genuine person doing the management you have to ensure you select the individual that’s right for you much like any line of work this is your financial possessions so we absolutely need 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 use this function we have actually got a couple of various alternatives for us to start with if you’re brand new to investing i wish 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 have fun with and it’s not real money that you’re investing you won’t require to put in your credit card information or anything you can generally have this virtual portfolio simulate as if you are using your own cash however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash maybe this is a fantastic option for you again to evaluate the theories alright you might wish to buy tesla or apple or this etf why not use the virtual alternative as a method to kind of safe have fun with it certainly you may have missed out on gains and losses during that time of course if you had actually invested your genuine cash it permits you to develop confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back to my genuine 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 comprehend what your threat profile is now what do i suggest by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply indicates am i all right with potentially losing a great amount of this investment or acquiring as
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well now remember whatever is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that equally indicates they’ll lose eventually in their journey clearly people do make money also and i’ve got videos all about how you can ensure you’re one of individuals to in fact generate income but in this situation make sure you research study your threat level would you be all right giving your cash to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous don’t pick someone who’s completely into crypto or currency conversion think about it you ‘d probably desire a backbone 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 use this too truly quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to actually search for somebody that you elegant actually following so let’s see maybe we desire someone from unified kingdom um who invests in let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has actually met that requirements and it does give you a danger factor too 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 predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to confirm are you okay 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 actually deep dive into what is she really investing in 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 excellent to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got some of mine actually that i buy too which is excellent so really for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production companies as that. Why Does Etoro Need Your Ni Number.
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