So to start the answer to Can I Trade Currencies With Etoro….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply do not want to choose what you actually wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can occur the firstly you can hire a financial investment portfolio manager they’ll typically charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds particular 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 an overall please keep in mind this platform is quite advanced 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 learning more about please do study the platform do not just presume due to the fact that 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 choice as well so you actually get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at risk and we need to bear that in mind do not just do something since that individual has actually said they have actually made revenue 14 months in a row buy these choices since you believe is the ideal 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 becomes 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 incredible we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money 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 purchase they sell whatever they do your cash will be imitated with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved really vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no fee websites then may not charge you for in fact buying and selling funds or etfs private commodities private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 know prior to you in fact begin buying copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with charges actually crucial to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling fine so commission costs are complimentary however there are a number of other costs the first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum amount 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 definitely 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 have to charge costs somewhere and withdrawal costs are simply one of those options that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a fee to bear in mind the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and 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 2 and two free trade anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to utilize 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 haggle with them you can’t go to the bank and state offer me us dollars rather you need to pay their fees now the fantastic feature of though when you’ve converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money 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 really excellent using that part of their site will not definitely restrict you in any way however we have to understand two other charges the first being what’s called spread costs okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is essentially the distinction that belongs to the investment platform between the buy cost and the price okay 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 worth 599 per share in tesla that really implies that when you want to purchase or sell as you can see it’s not the price 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 fees is the difference then actually to purchase that share on the platform and you’ll find this all over this is another way that they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to sell so they’re going to give you less back with your sale and you state fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it and that is how they make a bit of money on those spread out fees it’s generally incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit money now the last accomplishment is called an
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over night cost now this is truly essential if you’re actually using cfds yourself also an over night fee is when you’re not doing that buy sell deal in the same day all right there’s then an over night charge charged or even if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which suggests you’re really buying the specific possession instead of utilizing utilize anyhow you will not get hit with these costs but these costs are if you’re using leverage and cfds and then you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you go into the assistance area this isn’t the over night costs information you can see exactly 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 just uses as i stated to cfds there are some additional charges of course depending on what you are investing in as well this is on your own so keep that in mind but full costs are completely within their help info all right and we talked about as well as free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of in fact utilizing these copy works they don’t have any additional charges on top of the normal costs that
are there now what you require to bear in mind though is these potentially handled by other people entirely or in some cases have actually created portfolios you’ve got a genuine person doing the management you have to make certain you select the individual that’s right for you just like any type of work this is your monetary assets so we definitely require to make sure it’s the best person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different choices for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual methods i believe 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 information or anything you can essentially have this virtual portfolio imitate as if you are using your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash maybe this is a fantastic option for you once again to test the theories all right you may want 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 might have missed out on gains and losses throughout that time of course if you had invested your genuine cash it allows you to develop confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to remember prior to you select someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat 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 run the risk of simply indicates am i all right with potentially losing a great amount of this financial investment or getting as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 people will lose cash however that similarly implies they’ll lose at some time in their journey undoubtedly people do make money also and i have actually got videos everything about how you can ensure you are among the people to really generate income however in this scenario ensure you research your threat level would you be okay offering your money to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous don’t select somebody who’s totally into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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like gold or even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really use this too truly quickly over here you can copy people now it will give you a great deal of choices and you can utilize the system to really search for somebody that you fancy actually following so let’s see possibly we want somebody from joined kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has fulfilled that criteria and it does give you a threat element also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to verify are you alright with this and off you go now another way to actually deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she in fact 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 bit so that’s great to understand ibm paypal yep she’s certainly like type 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 in fact for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s also got a bit more um of the sort of primary food companies and you have actually got you know pharmaceutical and production business as that. Can I Trade Currencies With Etoro.
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