So to start the answer to Can I Use American Express For Etoro App….Questions 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 someone to do it for you there’s just a number of manner ins which that can take place the firstly you can employ an investment portfolio manager they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 too now if you’re brand new to a total please remember this platform is quite sophisticated you can do cfds which of course 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 about please do study the platform do not simply assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well 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 of course your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something because that person has actually said they have actually made profit 14 months in a row buy these options since you think is the right ones for you and that being said 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 aspect that is most likely.
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popular for it’s the choice to see what other traders are doing amazing we do not usually 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 in fact say i wish to do exactly what that trader is doing or match that specific 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 suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved really important you comprehend 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 buying the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for actually buying and selling etfs or funds specific commodities specific stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 understand before you actually begin investing in copy trading or copy portfolios and lastly some finest advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees truly essential to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling okay so commission fees are complimentary nevertheless there are a couple of other costs the first one is withdrawal costs so you can obviously put cash in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re selling 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 make certain that i’m only withdrawing when i absolutely require to now you may state okay that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those options that they have a great deal of platforms clearly are free 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 6 months you know depends completely how you’re investing but that is a cost to remember the 2nd cost that i’ve touched upon 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 great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using 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 need to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact 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 rather you have to pay their charges now the excellent thing about though when you have actually transformed your money 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 initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great using that part of their website won’t definitely limit you in any way nevertheless we have to know 2 other costs the very first being what’s called spread costs fine 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 is part of the investment platform in between the buy cost and the list price alright 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 value 599 per share in tesla that in fact implies that when you want to purchase or offer as you can see it’s not the price you’re seeing up here let me show you that again so the current price of tesla is the value of a share what’s called spread fees is the difference then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more pricey to buy than it is to sell so they’re going to give 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 which is how they make a little bit of money on those spread out fees it’s generally extremely little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit money now the last feat is called an
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overnight cost now this is truly important if you’re really utilizing cfds yourself also an overnight cost is when you’re refraining from doing that buy offer deal in the very same day okay there’s then an over night cost charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one leverage which implies you’re really purchasing the precise property rather than using leverage anyway you will not get hit with these costs but these charges are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you go into the assistance section this isn’t the overnight costs info 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 and that only uses as i stated to cfds there are some surcharges naturally depending on what you are investing in also this is on your own so keep that in mind but full costs are entirely within their help info alright and we spoke about as well as free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of really utilizing these copy operates they don’t have any extra fees on top of the regular charges that
exist now what you require to keep in mind though is these possibly managed by other people completely or in some cases have actually developed portfolios you’ve got a genuine person doing the management you have to make certain you select the person that’s right for you similar to any kind of work this is your monetary assets so we definitely require to make certain it’s the ideal individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a number of different options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your charge card information or anything you can basically have this virtual portfolio simulate as if you are using your own cash but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money possibly this is an excellent choice for you again to evaluate the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a way to sort of safe play with it clearly you may have missed out on gains and losses throughout that time of course if you had actually invested your real cash it allows you to construct self-confidence comprehend 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 really how to copy people and copy portfolios now here’s something to bear in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i mean 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 risk just means am i okay with potentially losing an excellent amount of this investment or acquiring as
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well now remember everything is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 people will lose money but that equally implies they’ll lose at some time in their journey obviously individuals do earn money as well and i have actually got videos all about how you can make certain you are among individuals to in fact make money but in this scenario make certain you research your risk level would you be alright giving your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re investing in completely if you’re somebody who isn’t wanting to be that dangerous do not pick somebody who’s completely into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong products
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like gold or even oil plus more conventional etfs and index funds you might not desire 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 utilize this too actually quickly over here you can copy people now it will offer you a great deal of choices and you can use the system to really search for someone that you fancy really following so let’s see possibly we desire somebody from unified kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has fulfilled that requirements and it does give you a danger element as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of people that have rather high returns
bear in mind it resembles 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 four or minus 50 there’s no chance to guarantee 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 verify are you okay with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she actually buying 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 great to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine really that i invest in too which is excellent so really 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 companies that seems to be what she prefers she’s likewise got a bit more um of the type of main food business and you have actually got you understand pharmaceutical and production business as that. Can I Use American Express For Etoro App.
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