So to start the answer to Cant Find My Bank To Add Account On Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you just do not wish to choose what you really want to invest and you want somebody to do it for you there’s just a number of manner ins which that can take place the first off you can employ a financial investment portfolio supervisor they’ll usually charge a quite a high premium to do that possibly 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 created 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 as well now if you’re brand new to a total please keep in mind this platform is quite sophisticated you can do cfds which naturally cfds are methods 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 don’t simply presume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice also so you in fact get utilized to the structure of the site and then 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 investing in genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s financial 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’ve made earnings 14 months in a row buy these choices because you believe is the right ones for you which being stated let’s dive straight in [Music] 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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famous for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their 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 fees involved really vital you understand what are the costs of this now with any platform there will be some cost to clearly these are real 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 cost websites then may not charge you for in fact buying and selling funds or etfs private 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 kinds 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 recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with fees actually important to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling all right so commission fees are totally free however there are a couple of other charges the very first one is withdrawal charges so you can undoubtedly put money in now if you’re 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 but when you want to withdraw your cash so you offer your shares you offer 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 understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say all right that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends entirely how you’re investing but that is a cost to bear in mind the second cost that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that suits 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 using trading 2 and two open market anybody this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact giving you in terms of 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 need to pay their costs now the excellent aspect of though when you’ve converted your cash you do not need to invest it immediately 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 happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent utilizing that part of their website won’t certainly limit you in any way however we need to be aware of 2 other fees the first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is generally the distinction that belongs to the investment platform in between the buy cost and the sale price all right 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 in fact indicates that when you want to offer or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the existing price of tesla is the worth of a share what’s called spread charges is the distinction 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 profit from you each time you do a purchaser’s share so keep that in mind certainly it’s more expensive to buy than it is to sell so they’re going to provide you less back with your sale and you say fine 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 sell it and that is how they make a little bit of cash on those spread 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 firm will again make a little bit money now the last accomplishment is called an
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overnight charge now this is truly important if you’re in fact using cfds yourself as well an overnight fee is when you’re refraining from doing that buy offer deal in the same day alright there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which indicates you’re actually purchasing the specific property instead of using leverage anyhow you will not get hit with these charges however these fees are if you’re utilizing utilize 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 state if you go into the help section this isn’t the over night charges details you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only uses as i stated to cfds there are some added fees of course depending on what you are buying as well this is on your own so keep that in mind however full fees are totally within their help details all right and we talked about along with free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of in fact utilizing these copy works they do not have any extra fees on top of the typical fees that
exist now what you need to remember though is these possibly handled by other people totally or often have actually created portfolios you’ve got a real person doing the management you need to make sure you select the individual that’s right for you similar to any line of work this is your monetary properties so we definitely need to make certain it’s the best individual for us prior to we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of different choices for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine cash 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 won’t need to put in your credit card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money possibly this is an excellent alternative for you again to evaluate the theories all right you might want to buy tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe have fun with it undoubtedly you might have missed out on gains and losses during that time obviously if you had invested your genuine cash it allows you to construct confidence understand the platform so that’s one choice 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 prior to you pick 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 indicate by that undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just means am i alright with potentially losing a good amount of this investment or getting as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 people will lose cash but that equally means they’ll lose eventually in their journey clearly people do make money also and i have actually got videos all about how you can ensure you’re one of the people to actually generate income but in this circumstance make sure you research study your risk level would you be alright providing your cash to someone else which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re somebody who isn’t wanting to be that risky don’t pick somebody who’s totally into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong commodities
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like gold and even oil plus more standard 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 in fact use this too truly quickly over here you can copy individuals now it will give you a great deal of choices and you can use the system to really search for somebody that you fancy actually following so let’s see maybe we desire somebody from joined kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everyone who has met that criteria and it does give you a danger factor also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of people that have quite high returns
bear in mind it resembles 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 could make four or minus 50 there’s no way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to confirm are you all right with this and off you go now another method to actually deep dive if we click on 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 know ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got some of mine actually that i buy too which is great so in fact for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s also got a little bit more um of the kind of primary food companies and you’ve got you understand pharmaceutical and production business as that. Cant Find My Bank To Add Account On Etoro.
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