So to start the answer to Can You Add Etoro To Quicken….Concerns that i speak with brand-new investors what if you’re brand new to investing you just do not wish to decide what you actually wish to invest and you want somebody to do it for you there’s just a number of ways that that can occur the firstly you can work with an investment portfolio supervisor they’ll normally charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular 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 as well now if you’re brand new to an overall please remember this platform is quite innovative you can do cfds which naturally cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform don’t simply presume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you really 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 danger this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re discussing how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something because that individual has stated they’ve made revenue 14 months in a row purchase these choices since you think is the best ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
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popular for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that means 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 likewise cover is the costs included actually critical you understand what are the costs of this now with any platform there will be some expense 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 no charge sites then might not charge you for really buying and selling etfs or funds private commodities private stocks.
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there’ll be fees on other parts perhaps 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 show you the costs with in particular in this video the next would be things to know prior to you actually start purchasing copy trading or copy portfolios and finally some best advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with charges truly crucial to understand 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 nevertheless there are a number of other charges the very first one is withdrawal charges so you can undoubtedly put money in now if you remain in the uk we put our uk money.
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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 wish to withdraw your money so you sell your shares you offer 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 of course understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state alright 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 someplace and withdrawal costs are simply one of those options that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends totally how you’re investing however that is a charge to keep in mind the second cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually giving 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 terrific aspect of though when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy 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 actually good using that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread charge as i’m going to show you
on is basically the difference that becomes part of the financial investment platform between the buy cost and the sale 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 worth 599 per share in tesla that really suggests that when you want to offer or buy as you can see it’s not the price you’re seeing up here let me reveal you that again so the existing rate of tesla is the worth 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 all over this is another way that they make a small amount of make money from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you say fine well why does that happen it simply 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 wish to sell it and that is how they make a bit of cash on those spread out costs it’s normally incredibly 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 bit money now the last task is called an
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overnight charge now this is really important if you’re in fact utilizing cfds yourself also an overnight charge is when you’re refraining from doing that buy offer deal in the very same day alright there’s then an overnight cost charged and even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which indicates you’re actually buying the precise possession instead of utilizing take advantage of anyway you won’t get hit with these fees however these charges are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the exact same day so let’s say if you enter into the help section this isn’t the over night 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 overnight or you’re doing over weekends and that just uses as i said to cfds there are some added fees naturally depending on what you are investing in too this is on your own so keep that in mind but full costs are totally within their assistance information okay and we discussed as well as free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity 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 different ways of in fact using these copy operates they don’t have any additional charges on top of the regular fees that
exist now what you need to bear in mind though is these possibly managed by other individuals totally or often have produced portfolios you’ve got a genuine person doing the management you have to make sure you choose the person that’s right for you similar to any line of work this is your financial properties so we absolutely need to make sure it’s the ideal individual 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 number of different choices for us to start with 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 means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your credit card details or anything you can essentially have this virtual portfolio mimic as if you are using your own money however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money perhaps this is a terrific choice for you again to evaluate the theories fine you might 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 undoubtedly you might have lost out on gains and losses throughout that time naturally if you had actually invested your real money it allows you to construct confidence understand 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 bear in mind prior to you choose someone 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 indicate by that certainly 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 simply implies am i all right with potentially losing an excellent amount of this financial investment or getting as
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well now keep in mind everything is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose money but that similarly implies they’ll lose at some time in their journey certainly people do make money too and i have actually got videos all about how you can make sure you are among the people to actually earn money however in this situation make sure you research your risk level would you be okay giving your money to another person which is effectively what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that risky don’t pick someone who’s completely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more standard 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 in fact use this too actually quickly over here you can copy people now it will give you a lot of choices and you can use the system to really search for somebody that you expensive in fact following so let’s see maybe we want someone from joined kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has met that criteria and it does offer you a threat aspect also 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 predictions of the future this does not imply someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to confirm are you fine with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can actually 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 bit so that’s great to know ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is great so really for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production business as that. Can You Add Etoro To Quicken.
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