So to start the answer to Do You Have To Give Social Security Number On Etoro….Concerns that i hear from brand-new investors what if you’re brand new to investing you just don’t want to decide what you really want to invest and you want somebody to do it for you there’s just a number of ways that that can happen the first off you can work with an investment portfolio manager they’ll typically 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 specific funds are developed once 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 rather advanced you can do cfds which obviously cfds are methods of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform do not simply presume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that option also so you actually get utilized 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 threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something since that individual has actually stated they have actually made profit 14 months in a row purchase these choices due to the fact that you think is the best ones for you which being said let’s dive straight in [Music] so the important 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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famous for it’s the option to see what other traders are doing incredible we do not typically 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 state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates if for example 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 costs included actually 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 some of the absolutely no charge websites then may not charge you for in fact buying and selling funds or etfs individual products individual 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 type of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really begin investing in 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 more advanced investor so let’s begin with charges actually essential to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling fine so commission charges are complimentary however there are a couple of other costs the very first one is withdrawal fees so you can obviously 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 but when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state all right that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends completely how you’re investing but that is a cost to keep in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and 2 free trade anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact giving 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 instead you have to pay their fees now the fantastic feature of however when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent utilizing that part of their site will not definitely limit you in any way however we need to understand 2 other costs the first being what’s called spread costs alright and i’m going to show you what i mean on now a spread charge as i’m going to reveal you
on is basically the distinction that belongs to the investment platform in between the buy price and the price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that in fact means that when you wish to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the present rate of tesla is the value of a share what’s called spread charges is the distinction then really to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of make money from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to give you less back with your sale and you state okay well why does that occur 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 want to offer it which is how they make a little bit of money on those spread out charges it’s usually incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a bit cash now the last task is called an
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overnight fee now this is truly essential if you’re in fact using cfds yourself too an overnight fee is when you’re not doing that buy sell deal in the very same day okay there’s then an overnight cost charged and even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which implies you’re in fact purchasing the precise possession rather than using leverage anyway you won’t get hit with these charges however these costs are if you’re using leverage and cfds and after that you’re going to have these fees if you’re not buy selling in the exact same day so let’s state if you enter into the help area this isn’t the overnight costs information you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which just uses as i stated to cfds there are some added fees obviously depending upon what you are purchasing too this is on your own so keep that in mind but complete costs are totally within their assistance information all right and we talked about in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 various methods of in fact using these copy operates they don’t have any extra costs on top of the regular fees that
exist now what you need to bear in mind though is these possibly managed by other individuals entirely or in some cases have actually developed portfolios you have actually got a genuine individual doing the management you need to make certain you choose the individual that’s right for you much like any line of work this is your monetary assets 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 use this function we have actually got a couple of different options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money or a virtual platform virtual means 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 generally have this virtual portfolio imitate as if you are utilizing your own money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is a fantastic choice for you again to check the theories all right you may want to buy tesla or apple or this etf why not utilize the virtual option as a way to sort of safe have fun with it clearly you may have lost out on gains and losses during that time naturally if you had actually invested your genuine cash it permits you to build self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy individuals 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 ensure you comprehend what your risk profile is now what do i imply by that obviously 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 just indicates am i okay with possibly losing a great quantity of this financial investment or acquiring as
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well now remember whatever is ups and downs you will make money you’ll lose money that’s why they make the fact 75 people will lose cash however that similarly implies they’ll lose eventually in their journey undoubtedly individuals do earn money as well and i have actually got videos everything about how you can make sure you are among the people to really earn money however in this circumstance make sure you research study your threat level would you be fine offering your cash to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing totally if you’re somebody who isn’t wanting to be that dangerous do not select someone who’s totally into crypto or currency conversion think about it you ‘d probably desire a backbone of strong commodities
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like gold or even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact use this too really quickly over here you can copy individuals now it will provide you a great deal of choices and you can utilize the system to really search for someone that you elegant really following so let’s see perhaps we desire someone from unified kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has met that requirements and it does offer you a risk factor also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of individuals that have quite high returns
bear in mind it’s like 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 four or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to validate are you fine with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is excellent so really for me knowing what i like to buy 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 chooses she’s also got a little bit more um of the kind of primary food companies and you have actually got you know pharmaceutical and production business as that. Do You Have To Give Social Security Number On Etoro.
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