So to start the answer to Does Etoro Support Quicken Direct Connect….Questions that i hear from new financiers what if you’re brand new to investing you just don’t want to choose what you really want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can occur the firstly you can employ a financial investment portfolio manager they’ll generally charge a quite a high premium to do that maybe one or two percent of your revenues will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 also now if you’re brand new to an overall please keep in mind this platform is rather sophisticated you can do cfds which of course cfds are methods of investing
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with not actually having the total of capital so with anything that you’re discovering 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 money they consider that alternative as well so you really get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something since that individual has said they have actually made revenue 14 months in a row invest in these choices because 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 probably.
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popular for it’s the alternative to see what other traders are doing unbelievable we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that means if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included truly vital 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 no charge websites then might not charge you for actually buying and selling funds or etfs specific commodities individual stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you actually begin purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges really crucial to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling fine so commission costs are totally free nevertheless there are a number of other charges the first one is withdrawal charges so you can obviously put cash in now if you’re 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 in the future but when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those options that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing but that is a fee to keep in mind the 2nd cost that i have actually touched upon is that conversion fee 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 fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort 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 actually 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 give me us dollars rather you need to pay their fees now the excellent feature of however when you’ve transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent using that part of their website will not certainly restrict you in any way nevertheless we have to know two other charges the very first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is basically the difference that is part of the financial 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 website today tesla’s dollar worth 599 per share in tesla that really implies that when you want to offer or buy as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of profit from you each time you do a buyer’s share so keep that in mind obviously 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 occur it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it which is how they make a bit of money on those spread fees it’s normally exceptionally small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit cash now the last task is called an
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over night fee now this is truly crucial if you’re in fact using cfds yourself as well an over night cost is when you’re not doing that buy sell deal in the very same day fine there’s then an over night charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which suggests you’re actually buying the precise asset instead of using take advantage of anyhow you won’t get hit with these charges however these charges are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you go into the aid section this isn’t the overnight charges info you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that only uses as i said to cfds there are some service charges obviously depending upon what you are purchasing also this is on your own so keep that in mind but full fees are totally within their help information all right and we spoke about as well as free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated 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 regular fees that
are there now what you need to remember though is these possibly handled by other individuals completely or in some cases have actually produced portfolios you have actually got a real person doing the management you need to ensure you select the person that’s right for you just like any type of work this is your financial assets so we definitely require to make certain it’s the best individual for us before we copy them so the first things i would call it if you do want to use this function we’ve got a couple 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 option to invest genuine money or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t require to put in your credit card information or anything you can basically have this virtual portfolio simulate as if you are utilizing your own money however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash possibly this is a great option for you again to test the theories okay you may wish to purchase tesla or apple or this etf why not use the virtual choice as a method to type of safe play with it obviously you might have lost out on gains and losses throughout that time of course if you had invested your genuine money it allows you to develop confidence understand 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 in fact how to copy individuals and copy portfolios now here’s something to bear in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i suggest by that clearly 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 indicates am i okay with potentially losing a good amount of this investment or gaining as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose cash however that equally indicates they’ll lose at some point in their journey obviously individuals do earn money as well and i have actually got videos everything about how you can make certain you’re one of individuals to in fact generate income however in this scenario ensure you research your danger level would you be fine giving your money to someone else which is successfully what you’re doing and trusting them make sure you understand what they’re buying totally if you’re somebody who isn’t wanting to be that dangerous do not select somebody who’s totally into crypto or currency conversion think about it you ‘d probably desire a backbone of strong products
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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 same with who you’re following now as i say you can actually utilize this too actually easily 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 somebody that you expensive really following so let’s see possibly we desire someone from unified kingdom um who invests in let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a good amount and i can find everyone who has fulfilled that criteria and it does give you a threat element too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of people that have rather high returns
bear in mind it’s like anything to do with the news or predictions 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 other way to guarantee so do keep that in mind and as easy 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 in fact deep dive if we click this person for example 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 rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know 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 great so actually for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s also got a bit more um of the kind of primary food companies and you’ve got you know pharmaceutical and production business as that. Does Etoro Support Quicken Direct Connect.
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